Waystar (WAY) awards 82,271 RSUs to Chief Product & AI Officer

Rhea-AI Filing Summary

Waystar Holding Corp. reported that Chief Product & AI Officer William Chan received a grant of 82,271 shares of Common Stock as a stock award, at no cash cost to him. The award is in the form of restricted stock units that vest in four equal annual installments through March 1, 2030, with each unit settling into one share of common stock upon vesting.

Following this grant, Chan holds 1,580,812 shares of Common Stock in total, including unvested restricted stock units. His position also includes RSUs issued on October 2, 2025 in connection with Waystar’s acquisition of Iodine Software Holdings, which are subject to a six‑month lock‑up period after the acquisition closing.

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

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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^*

Chan William

(Last) (First) (Middle)

1550 DIGITAL DRIVE #300

(Street)

LEHI UT 84043

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Waystar Holding Corp. [ WAY ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Product & AI Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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	03/09/2026		A		82,271(1)	A	$0	1,580,812(2)(3)	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

Explanation of Responses:

1. Reflects a grant of restricted stock units ("RSUs") which vests in four equal annual installments from the initial grant date through March 1, 2030. Each RSU represents a contingent right to receive one share of common stock, $0.01 par value per share (the "Common Stock") upon settlement.

2. Reflects restricted stock units ("RSUs") that were issued to the reporting person on October 2, 2025 in connection with the acquisition of Iodine Software Holdings, Inc. by Waystar Holding Corp. These shares are subject to a lock-up agreement that restricts transfer for a period of six months following the closing of the acquisition.

3. Includes unvested RSUs.

Remarks:

	/s/ Gregory R. Packer, as Attorney-in-Fact	03/11/2026
	** 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.
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FAQ

What did Waystar (WAY) disclose about William Chan’s latest equity award?

Waystar disclosed that Chief Product & AI Officer William Chan received 82,271 restricted stock units as a stock award. These RSUs cost him no cash and convert into common shares as they vest over time, directly tying a portion of his compensation to company performance.

How do William Chan’s new RSUs at Waystar (WAY) vest over time?

The 82,271 RSUs granted to William Chan vest in four equal annual installments through March 1, 2030. Each vested RSU converts into one share of common stock, gradually increasing his directly owned share count as long as he remains eligible under the award terms.

How many Waystar (WAY) shares does William Chan hold after this Form 4?

After this grant, William Chan holds 1,580,812 shares of Waystar common stock. This total includes both vested and unvested restricted stock units, reflecting the cumulative impact of current and prior equity awards on his overall ownership in the company.

What is the connection between Waystar’s Iodine acquisition and Chan’s RSUs?

Chan’s holdings include RSUs issued on October 2, 2025 in connection with Waystar’s acquisition of Iodine Software Holdings. Those RSUs are subject to a lock‑up agreement, restricting transfers for six months after the acquisition’s closing, which delays his ability to sell those particular shares.

Did William Chan buy or sell Waystar (WAY) shares in this transaction?

This transaction reflects an equity grant, not an open‑market trade. William Chan acquired 82,271 restricted stock units as compensation, at a reported price of $0.00 per share, meaning no cash changed hands as part of this specific award grant.