STOCK TITAN

[Form 4] Waystar Holding Corp. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Waystar Holding Corp. insider transactions by Chief Business Officer Eric L. Sinclair III. The reporting person acquired 9,701 shares by exercising options at an exercise price of $4.14 and immediately acquired an equal number of underlying shares. The report also shows sale of 9,701 shares of common stock at a weighted-average price of $37.6343, executed across multiple transactions in a price range of $37.24 to $38.14. Following these transactions the reporting person beneficially owned 484,527 shares before the sale and 474,826 shares after. Some holdings include unvested RSUs and the option grants are currently vested. The acquisitions occurred pursuant to an internal plan intended to satisfy Rule 10b5-1(c) conditions.

Operazioni di insider di Waystar Holding Corp. da parte del Chief Business Officer Eric L. Sinclair III. Il soggetto indicato ha acquistato 9.701 azioni esercitando opzioni al prezzo di esercizio di $4,14 e ha immediatamente acquisito un numero analogo di azioni di base. Il rapporto segnala anche la vendita di 9.701 azioni ordinarie a un prezzo medio ponderato di $37,6343, eseguita in diverse transazioni in un intervallo di prezzo da $37,24 a $38,14. Dopo tali operazioni, il soggetto deteneva efficacemente 484.527 azioni prima della vendita e 474.826 azioni dopo. Alcune partecipazioni includono RSU non vestite e le assegnazioni di opzioni sono attualmente vestite. Le acquisizioni sono avvenute ai sensi di un piano interno volto a soddisfare le condizioni della Rule 10b5-1(c).

Transacciones internas de Waystar Holding Corp. por parte del Director de Negocios Eric L. Sinclair III. La persona reportante adquirió 9.701 acciones al ejercer opciones con un precio de ejercicio de $4,14 y de inmediato obtuvo la misma cantidad de acciones subyacentes. El informe también indica la venta de 9.701 acciones comunes a un precio medio ponderado de $37,6343, ejecutada en varias operaciones dentro de un rango de precios de $37,24 a $38,14. Tras estas operaciones, la persona reportante poseía de manera beneficiosa 484.527 acciones antes de la venta y 474.826 después. Algunas participaciones incluyen RSUs no vestidas y las concesiones de opciones están actualmente vestidas. Las adquisiciones se realizaron conforme a un plan interno destinado a satisfacer las condiciones de la Regla 10b5-1(c).

Waystar Holding Corp.의 내부자 거래 보고: Chief Business Officer Eric L. Sinclair III의 거래. 공보고 대상자는 9,701주를 행사 가격 $4.14로 옵션을 행사해 취득하고 즉시 동일 수의 기초주를 취득했습니다. 보고서에는 또한 가중평균가 $37.6343로 다수의 거래에서 9,701주가 매각되었음이 표시되며, 매매가의 범위는 $37.24~$38.14입니다. 이 거래 후 보고대상자는 매도 전 484,527주, 매도 후 474,826주를 유익하게 보유했습니다. 일부 보유 주식은 아직 vesting되지 않은 RSU를 포함하고 있으며 옵션 부여는 현재 vest되었습니다. 이러한 취득은 Rule 10b5-1(c) 조건을 충족하기 위한 내부 계획에 따라 이루어졌습니다.

Transactions d'initié de Waystar Holding Corp. par le directeur des affaires Eric L. Sinclair III. La personne déclarant a acquis 9 701 actions en exerçant des options à un prix d'exercice de $4.14 et a immédiatement obtenu le même nombre d'actions sous-jacentes. Le rapport montre également la vente de 9 701 actions ordinaires à un prix moyen pondéré de $37,6343, réalisée au cours de plusieurs opérations dans une fourchette de prix de $37,24 à $38,14. Après ces transactions, la personne déclarant détenait avantageusement 484 527 actions avant la vente et 474 826 après. Certaines participations incluent des RSU non acquis et les attributions d'options sont actuellement acquises. Les acquisitions ont été effectuées dans le cadre d'un plan interne visant à satisfaire les conditions de la règle 10b5-1(c).

Insiderengänge bei Waystar Holding Corp. durch Chief Business Officer Eric L. Sinclair III. Die meldende Person erwarb 9.701 Aktien durch Ausübung von Optionen zum Ausübungspreis von $4,14 und erwarb sofort eine gleich hohe Anzahl zugrunde liegender Aktien. Der Bericht zeigt zudem den Verkauf von 9.701 Aktien der Stammaktione nzu einem gewichteten Durchschnittspreis von $37,6343, der über mehrere Transaktionen in einer Preisspanne von $37,24 bis $38,14 erfolgt ist. Nach diesen Transaktionen hielt die meldende Person vorteilhaft 484.527 Aktien vor dem Verkauf und 474.826 Aktien danach. Einige Bestände umfassen noch nicht vestete RSUs und die Optionszuteilungen sind derzeit vestet. Die Akquisitionen erfolgten gemäß einem internen Plan, der darauf abzielt, die Bedingungen der Rule 10b5-1(c) zu erfüllen.

صفقات داخلية لشركة Waystar Holding Corp. من قبل مدير الأعمال التنفيذي إريك ل. سينكلير III. قام الشخص المبلغ عنهم بشراء 9,701 سهمًا من خلال ممارسة خيارات بسعر تمارين قدره $4.14 وأُتيحت له فورًا عدد مماثل من الأسهم الأساسية. كما يظهر التقرير بيع 9,701 سهمًا من الأسهم العادية بسعر متوسط ​​مرجح قدره $37.6343، نفذ عبر عدة معاملات ضمن نطاق سعر يتراوح بين $37.24 إلى $38.14. عقب هذه المعاملات امتلك الشخص المبلغ عنه فعليًا 484,527 سهمًا قبل البيع و 474,826 سهمًا بعده. بعض الحيازات تشمل RSUs غير vesting وحقوق الخيار الممنوحة محالة vest حالياً. وقعت acquisitions وفق خطة داخلية تهدف إلى تلبية شروط قاعدة 10b5-1(c).

Waystar Holding Corp. 内部人交易,涉事人为首席业务官 Eric L. Sinclair III。 报告人通过执行价格为 $4.14 的期权,购买了 9,701 股,并立即获得同等数量的基础股。报告还显示以加权平均价 $37.6343 出售了 9,701 股普通股,交易分多笔完成,价格区间为 $37.24 至 $38.14。交易后,报告人实际持有 484,527 股在售前,474,826 股在售后。部分持股包含尚未归属的 RSU,且期权授予目前已归属。此次增持/买卖是根据内部计划进行,旨在满足 Rule 10b5-1(c) 的条件。

Positive
  • Exercise of vested options at a low exercise price ($4.14) demonstrates realized gain potential when sold at market prices
  • Use of a Rule 10b5-1 plan provides procedural transparency and an affirmative defense for scheduled trades
Negative
  • Reduction in direct beneficial ownership by 9,701 shares after the sale, which slightly decreases insider stake
  • Sale executed across multiple prices may indicate partial liquidation rather than a single strategic transfer

Insights

TL;DR: Insider exercised low-cost options and sold the same number of shares at a much higher market price under a Rule 10b5-1 plan; routine liquidity action, not necessarily signal of company fundamentals.

The reporting shows an exercise of 9,701 options at $4.14 and contemporaneous sale of 9,701 shares at a weighted-average of $37.6343, with sales executed across a disclosed range. The transactions reduced the reporting person's direct beneficial ownership by 9,701 shares. The report references unvested RSUs as part of total beneficial holdings and indicates the exercise and sale occurred under an established plan intended to satisfy affirmative defense requirements of Rule 10b5-1(c).

TL;DR: Insider used a pre-arranged trading plan to exercise vested options and sell shares; disclosure aligns with Section 16 reporting and Rule 10b5-1 mechanics.

The Form 4 discloses that the reporting person is an officer (Chief Business Officer) and that the transactions were automatic pursuant to a plan adopted earlier this year to satisfy Rule 10b5-1(c). The report also clarifies that options exercised were vested and that some beneficial holdings include unvested restricted stock units. The form includes the attorney-in-fact signature, consistent with delegation for filing.

Operazioni di insider di Waystar Holding Corp. da parte del Chief Business Officer Eric L. Sinclair III. Il soggetto indicato ha acquistato 9.701 azioni esercitando opzioni al prezzo di esercizio di $4,14 e ha immediatamente acquisito un numero analogo di azioni di base. Il rapporto segnala anche la vendita di 9.701 azioni ordinarie a un prezzo medio ponderato di $37,6343, eseguita in diverse transazioni in un intervallo di prezzo da $37,24 a $38,14. Dopo tali operazioni, il soggetto deteneva efficacemente 484.527 azioni prima della vendita e 474.826 azioni dopo. Alcune partecipazioni includono RSU non vestite e le assegnazioni di opzioni sono attualmente vestite. Le acquisizioni sono avvenute ai sensi di un piano interno volto a soddisfare le condizioni della Rule 10b5-1(c).

Transacciones internas de Waystar Holding Corp. por parte del Director de Negocios Eric L. Sinclair III. La persona reportante adquirió 9.701 acciones al ejercer opciones con un precio de ejercicio de $4,14 y de inmediato obtuvo la misma cantidad de acciones subyacentes. El informe también indica la venta de 9.701 acciones comunes a un precio medio ponderado de $37,6343, ejecutada en varias operaciones dentro de un rango de precios de $37,24 a $38,14. Tras estas operaciones, la persona reportante poseía de manera beneficiosa 484.527 acciones antes de la venta y 474.826 después. Algunas participaciones incluyen RSUs no vestidas y las concesiones de opciones están actualmente vestidas. Las adquisiciones se realizaron conforme a un plan interno destinado a satisfacer las condiciones de la Regla 10b5-1(c).

Waystar Holding Corp.의 내부자 거래 보고: Chief Business Officer Eric L. Sinclair III의 거래. 공보고 대상자는 9,701주를 행사 가격 $4.14로 옵션을 행사해 취득하고 즉시 동일 수의 기초주를 취득했습니다. 보고서에는 또한 가중평균가 $37.6343로 다수의 거래에서 9,701주가 매각되었음이 표시되며, 매매가의 범위는 $37.24~$38.14입니다. 이 거래 후 보고대상자는 매도 전 484,527주, 매도 후 474,826주를 유익하게 보유했습니다. 일부 보유 주식은 아직 vesting되지 않은 RSU를 포함하고 있으며 옵션 부여는 현재 vest되었습니다. 이러한 취득은 Rule 10b5-1(c) 조건을 충족하기 위한 내부 계획에 따라 이루어졌습니다.

Transactions d'initié de Waystar Holding Corp. par le directeur des affaires Eric L. Sinclair III. La personne déclarant a acquis 9 701 actions en exerçant des options à un prix d'exercice de $4.14 et a immédiatement obtenu le même nombre d'actions sous-jacentes. Le rapport montre également la vente de 9 701 actions ordinaires à un prix moyen pondéré de $37,6343, réalisée au cours de plusieurs opérations dans une fourchette de prix de $37,24 à $38,14. Après ces transactions, la personne déclarant détenait avantageusement 484 527 actions avant la vente et 474 826 après. Certaines participations incluent des RSU non acquis et les attributions d'options sont actuellement acquises. Les acquisitions ont été effectuées dans le cadre d'un plan interne visant à satisfaire les conditions de la règle 10b5-1(c).

Insiderengänge bei Waystar Holding Corp. durch Chief Business Officer Eric L. Sinclair III. Die meldende Person erwarb 9.701 Aktien durch Ausübung von Optionen zum Ausübungspreis von $4,14 und erwarb sofort eine gleich hohe Anzahl zugrunde liegender Aktien. Der Bericht zeigt zudem den Verkauf von 9.701 Aktien der Stammaktione nzu einem gewichteten Durchschnittspreis von $37,6343, der über mehrere Transaktionen in einer Preisspanne von $37,24 bis $38,14 erfolgt ist. Nach diesen Transaktionen hielt die meldende Person vorteilhaft 484.527 Aktien vor dem Verkauf und 474.826 Aktien danach. Einige Bestände umfassen noch nicht vestete RSUs und die Optionszuteilungen sind derzeit vestet. Die Akquisitionen erfolgten gemäß einem internen Plan, der darauf abzielt, die Bedingungen der Rule 10b5-1(c) zu erfüllen.

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
Estimated average burden
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).
1. Name and Address of Reporting Person*
Sinclair III Eric L. (Ric)

(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 Business Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025
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 09/22/2025 M 9,701 A $4.14 484,527(1)(2) D
Common Stock 09/22/2025 S 9,701 D $37.6343(3) 474,826(1)(2) 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
Stock Options (right to buy) $4.14 09/22/2025 M 9,701 (4) 11/01/2027 Common Stock 9,701 $0 67,907 D
Explanation of Responses:
1. Includes unvested RSUs.
2. These transactions occurred automatically pursuant to a plan adopted by the Reporting Person on February 19, 2025 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
3. The price reported in Column 4 is a weighted average price. These shares of common stock, par value $0.01 per share ("Common Stock") of Waystar Holding Corp. (the "Issuer") were sold in multiple transactions ranging from $37.24 to $38.14, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Common Stock sold at each separate price in the range set forth in this footnote.
4. These options are currently vested.
Remarks:
/s/ Gregory R. Packer, as Attorney-in-Fact 09/24/2025
** 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 Waystar (WAY) insider Eric L. Sinclair III do?

The officer exercised 9,701 stock options at $4.14 and sold 9,701 shares at a weighted-average price of $37.6343.

How many shares did the reporting person own after the transactions?

After the reported sale the filing shows beneficial ownership of 474,826 shares.

Were the options exercised vested and under what plan were trades executed?

The filing states the options were currently vested and the transactions occurred pursuant to a plan adopted to satisfy Rule 10b5-1(c) conditions.

At what prices were the shares sold?

Shares were sold in multiple transactions at prices ranging from $37.24 to $38.14, with a reported weighted-average sale price of $37.6343.

Do the reported holdings include unvested awards?

Yes; the filing notes that the total beneficial ownership figures include unvested restricted stock units (RSUs).
Waystar Holding Corp.

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