HSTM Form 4: 766 shares from RSU vesting; holdings now 29,167

Rhea-AI Filing Summary

HealthStream (HSTM) reported an insider equity transaction by a Senior Vice President. On 10/30/2025, 766 shares of common stock were acquired at $0 following the vesting of restricted share units (Code M). To cover taxes, 187 shares were withheld at $25.83 (Code F).

After these transactions, the officer directly holds 29,167 common shares. The filing also shows 895 restricted share units remaining outstanding. The RSUs vest over four years, with 30% scheduled on October 27, 2025, per the stated vesting schedule.

Insider Trade Summary

766 shares exercised/converted

Mixed 3 txns

Insider McQuigg Michael Scott

Role Senior Vice President

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	766	$0.00	--
Exercise	Common Stock Holding	766	$0.00	--
Tax Withholding	Common Stock Holding	187	$25.83	$5K

Holdings After Transaction: Restricted Share Units — 895 shares (Direct); Common Stock Holding — 29,354 shares (Direct)

Footnotes (1)

1. Shares acquired on vesting of restricted share units. Shares withheld for payment of tax liability. Each restricted share unit (RSU) represents the contingent right to receive one share of common stock upon vesting of the unit. The RSUs are subject to a four year vesting schedule, contingent upon continued service at the time of vesting. 15% vest on October 27, 2023, 20% vest on October 27, 2024, 30% vest on October 27, 2025, and the remaining 35% vest on October 27, 2026. Not applicable.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McQuigg Michael Scott

(Last) (First) (Middle)

500 11TH AVENUE NORTH

SUITE 850

(Street)

NASHVILLE TN 37203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HEALTHSTREAM INC [ HSTM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior Vice President

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock Holding	10/30/2025		M		766(1)	A	$0	29,354	D
Common Stock Holding	10/30/2025		F		187(2)	D	$25.83	29,167	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	$0(3)	10/30/2025		M			766	(4)	(5)	Common Stock	766	$0	895	D

Explanation of Responses:

1. Shares acquired on vesting of restricted share units.

2. Shares withheld for payment of tax liability.

3. Each restricted share unit (RSU) represents the contingent right to receive one share of common stock upon vesting of the unit.

4. The RSUs are subject to a four year vesting schedule, contingent upon continued service at the time of vesting. 15% vest on October 27, 2023, 20% vest on October 27, 2024, 30% vest on October 27, 2025, and the remaining 35% vest on October 27, 2026.

5. Not applicable.

	/s/ Michael Scott McQuigg	10/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did HSTM disclose in this Form 4?

An officer acquired 766 shares upon RSU vesting and had 187 shares withheld at $25.83 for taxes on 10/30/2025.

How many HealthStream (HSTM) shares does the officer now hold directly?

Direct holdings are 29,167 shares after the reported transactions.

How many restricted share units remain for the officer at HSTM?

The filing lists 895 RSUs remaining outstanding.

What do the transaction codes mean in this context?

Code M reflects shares acquired on RSU vesting; Code F reflects shares withheld for taxes, as described in the filing’s explanations.

What price was used for the tax withholding shares?

Shares withheld for taxes were priced at $25.83.

What is the RSU vesting schedule mentioned?

RSUs vest over four years: 15% on Oct 27, 2023, 20% on Oct 27, 2024, 30% on Oct 27, 2025, and 35% on Oct 27, 2026.