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[Form 4] Waystar Holding Corp. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Waystar Holding Corp. insider filing by Eric L. Sinclair III reports a tax-withholding share disposition and automatic transactions under a 10b5-1 plan plus option activity. On 06/06/2025 the reporting person had 16,044 shares withheld to pay taxes on option vesting at a price of $40.55, leaving 474,826 shares beneficially owned (this total includes unvested RSUs). On 09/08/2025 the reporting person acquired 19,404 shares via exercise/plan at $4.14 and concurrently sold 19,404 shares at a weighted average price of $40.0285 (sales occurred across $40.00�$40.25). The acquisition on 09/08/2025 was automatic under a plan adopted 02/19/2025 intended to satisfy Rule 10b5-1(c). The filing corrects prior reporting to reflect an earlier misclassification of an option exercise and states the option lot is vested and exercisable.

Dichiarazione insider di Waystar Holding Corp. da parte di Eric L. Sinclair III segnala una cessione di azioni per ritenuta fiscale e operazioni automatiche nell'ambito di un piano 10b5-1 oltre ad attività su opzioni. Il 06/06/2025 sono state trattenute 16.044 azioni per il pagamento delle tasse sulla maturazione delle opzioni al prezzo di $40,55, lasciando in proprietà beneficiaria 474.826 azioni (totale comprensivo di RSU non maturate). L'08/09/2025 la persona segnalante ha acquisito 19.404 azioni mediante esercizio/piano a $4,14 e contestualmente ha venduto 19.404 azioni a prezzo medio ponderato di $40,0285 (le vendite sono avvenute nell'intervallo $40,00�$40,25). L'acquisto dell'08/09/2025 è stato automatico ai sensi di un piano adottato il 19/02/2025 volto a soddisfare la Regola 10b5-1(c). La comunicazione corregge precedenti segnalazioni per rettificare una errata classificazione di un esercizio di opzione e dichiara che il lotto di opzioni è maturato ed esercitabile.

Presentación de insider de Waystar Holding Corp. por Eric L. Sinclair III informa una disposición de acciones por retención fiscal y transacciones automáticas bajo un plan 10b5-1, además de actividad con opciones. El 06/06/2025 se retuvieron 16.044 acciones para pagar impuestos por la consolidación de opciones a un precio de $40,55, quedando 474.826 acciones de propiedad beneficiaria (este total incluye RSU no devengadas). El 08/09/2025 la persona informante adquirió 19.404 acciones mediante ejercicio/plan a $4,14 y simultáneamente vendió 19.404 acciones a un precio medio ponderado de $40,0285 (las ventas se realizaron en el rango $40,00�$40,25). La adquisición del 08/09/2025 fue automática bajo un plan adoptado el 19/02/2025 diseñado para cumplir la Regla 10b5-1(c). La presentación corrige reportes anteriores para reflejar una clasificación previa incorrecta de un ejercicio de opción y afirma que el lote de opciones está consolidado y es ejercitable.

Waystar Holding Corp. 내부� 신고 � Eric L. Sinclair III� 세금 원천징수� 따른 주식 처분� 10b5-1 계획� 따른 자동 거래 � 옵션 활동� 보고합니�. 2025-06-06� 옵션 성과� 대� 세금 납부� 위해 16,044주가 원천징수되었�, 주당 가격은 $40.55였으며, � 결과 474,826주를 실질적으� 보유하게 되었습니�(� 총계에는 아직 확정되지 않은 RSU 포함). 2025-09-08� 보고인은 19,404주를 행사/계획� 따라 취득했으� 취득 단가� $4.14였�, 동시� 19,404주를 매도하여 가중평� 매도가격은 $40.0285였습니�(매도� $40.00�$40.25 구간에서 이루어짐). 2025-09-08� 취득은 2025-02-19� 채택� 계획� 따라 자동으로 이루어졌으며 이는 규칙 10b5-1(c)� 충족하기 위한 것입니다. � 신고서는 이전 보고� 옵션 행사 분류 오류� 정정하며 해당 옵션 로트가 이미 확정되어 행사 가능함� 명시합니�.

Déclaration d'initié de Waystar Holding Corp. par Eric L. Sinclair III signale une cession d'actions pour retenue fiscale et des opérations automatiques dans le cadre d'un plan 10b5-1 ainsi qu'une activité d'options. Le 06/06/2025, 16 044 actions ont été retenues pour payer les impôts liés à la maturation d'options au prix de 40,55 $, laissant 474 826 actions détenues de façon bénéficiaire (ce total inclut des RSU non acquises). Le 08/09/2025, la personne déclarée a acquis 19 404 actions via exercice/plan à 4,14 $ et a simultanément vendu 19 404 actions à un prix moyen pondéré de 40,0285 $ (ventes réalisées dans la fourchette 40,00 $�40,25 $). L'acquisition du 08/09/2025 a été automatique en vertu d'un plan adopté le 19/02/2025 visant à satisfaire la règle 10b5-1(c). La déclaration corrige un signalement antérieur pour refléter une mauvaise classification d'un exercice d'option et indique que le lot d'options est acquis et exerçable.

Insider-Meldung von Waystar Holding Corp. durch Eric L. Sinclair III meldet eine aktienbasierte Steuerabzugsveräußerung sowie automatische Transaktionen unter einem 10b5-1-Plan und Optionenaktivitäten. Am 06.06.2025 wurden 16.044 Aktien einbehalten, um Steuern auf die Ausübung von Optionen zum Kurs von $40,55 zu zahlen, wodurch 474.826 Aktien wirtschaftlich gehalten blieben (diese Summe schließt nicht begünstigte RSU mit ein). Am 08.09.2025 erwarb die meldepflichtige Person 19.404 Aktien durch Ausübung/Plan zu $4,14 und verkaufte gleichzeitig 19.404 Aktien zu einem gewogenen Durchschnittspreis von $40,0285 (Verkäufe erfolgten im Bereich $40,00�$40,25). Der Erwerb am 08.09.2025 erfolgte automatisch nach einem am 19.02.2025 eingeführten Plan zur Erfüllung von Regel 10b5-1(c). Die Meldung korrigiert frühere Angaben, um eine zuvor fehlerhafte Klassifizierung einer Optionsausübung zu berichtigen, und erklärt, dass die Optionspartie ausgeprägt und ausübbar ist.

Positive
  • Use of a 10b5-1 trading plan adopted 02/19/2025, which provides pre-established, automated trade dispositions
  • Correction to prior filings to accurately reflect beneficial ownership improves disclosure accuracy
  • No net new dilution reported from these transactions; paired acquisition and sale were equal in share count
Negative
  • Untimely filing noted for the 06/06/2025 tax-withholding transaction, indicating a reporting lapse
  • Insider sold shares (19,404 shares sold at a weighted average of $40.0285) which may be viewed negatively by some investors

Insights

TL;DR: Insider executed routine tax withholding and 10b5-1 plan trades; net holdings unchanged materially after correction.

The filing documents routine Section 16 activity: shares were withheld to cover taxes on option vesting and a contemporaneous 10b5-1 plan produced an automatic exercise/acquisition and sale of equal share amounts, resulting in no net change in share count from those paired transactions. The weighted average sale price range ($40.00�$40.25) and the exercise price ($4.14) show a material gain per share for the reporting person but no new issuance or dilutive event for other shareholders. The correction to prior filings improves transparency of current beneficial ownership figures.

TL;DR: Disclosure shows use of a documented 10b5-1 plan and a corrective amendment; timely reporting issues noted.

The filing confirms the reporting person adopted a 10b5-1 trading plan on 02/19/2025 that governed the 09/08/2025 transactions, which is standard practice to mitigate insider trading risk. However, the June 6, 2025 withholding transaction was described as not timely filed and the registrant corrected prior misclassification, indicating a lapse in prior reporting controls that was remedied here. From a governance standpoint, the presence of a signed 10b5-1 plan and an explicit correction are constructive, but the late filing should be recorded and reviewed internally.

Dichiarazione insider di Waystar Holding Corp. da parte di Eric L. Sinclair III segnala una cessione di azioni per ritenuta fiscale e operazioni automatiche nell'ambito di un piano 10b5-1 oltre ad attività su opzioni. Il 06/06/2025 sono state trattenute 16.044 azioni per il pagamento delle tasse sulla maturazione delle opzioni al prezzo di $40,55, lasciando in proprietà beneficiaria 474.826 azioni (totale comprensivo di RSU non maturate). L'08/09/2025 la persona segnalante ha acquisito 19.404 azioni mediante esercizio/piano a $4,14 e contestualmente ha venduto 19.404 azioni a prezzo medio ponderato di $40,0285 (le vendite sono avvenute nell'intervallo $40,00�$40,25). L'acquisto dell'08/09/2025 è stato automatico ai sensi di un piano adottato il 19/02/2025 volto a soddisfare la Regola 10b5-1(c). La comunicazione corregge precedenti segnalazioni per rettificare una errata classificazione di un esercizio di opzione e dichiara che il lotto di opzioni è maturato ed esercitabile.

Presentación de insider de Waystar Holding Corp. por Eric L. Sinclair III informa una disposición de acciones por retención fiscal y transacciones automáticas bajo un plan 10b5-1, además de actividad con opciones. El 06/06/2025 se retuvieron 16.044 acciones para pagar impuestos por la consolidación de opciones a un precio de $40,55, quedando 474.826 acciones de propiedad beneficiaria (este total incluye RSU no devengadas). El 08/09/2025 la persona informante adquirió 19.404 acciones mediante ejercicio/plan a $4,14 y simultáneamente vendió 19.404 acciones a un precio medio ponderado de $40,0285 (las ventas se realizaron en el rango $40,00�$40,25). La adquisición del 08/09/2025 fue automática bajo un plan adoptado el 19/02/2025 diseñado para cumplir la Regla 10b5-1(c). La presentación corrige reportes anteriores para reflejar una clasificación previa incorrecta de un ejercicio de opción y afirma que el lote de opciones está consolidado y es ejercitable.

Waystar Holding Corp. 내부� 신고 � Eric L. Sinclair III� 세금 원천징수� 따른 주식 처분� 10b5-1 계획� 따른 자동 거래 � 옵션 활동� 보고합니�. 2025-06-06� 옵션 성과� 대� 세금 납부� 위해 16,044주가 원천징수되었�, 주당 가격은 $40.55였으며, � 결과 474,826주를 실질적으� 보유하게 되었습니�(� 총계에는 아직 확정되지 않은 RSU 포함). 2025-09-08� 보고인은 19,404주를 행사/계획� 따라 취득했으� 취득 단가� $4.14였�, 동시� 19,404주를 매도하여 가중평� 매도가격은 $40.0285였습니�(매도� $40.00�$40.25 구간에서 이루어짐). 2025-09-08� 취득은 2025-02-19� 채택� 계획� 따라 자동으로 이루어졌으며 이는 규칙 10b5-1(c)� 충족하기 위한 것입니다. � 신고서는 이전 보고� 옵션 행사 분류 오류� 정정하며 해당 옵션 로트가 이미 확정되어 행사 가능함� 명시합니�.

Déclaration d'initié de Waystar Holding Corp. par Eric L. Sinclair III signale une cession d'actions pour retenue fiscale et des opérations automatiques dans le cadre d'un plan 10b5-1 ainsi qu'une activité d'options. Le 06/06/2025, 16 044 actions ont été retenues pour payer les impôts liés à la maturation d'options au prix de 40,55 $, laissant 474 826 actions détenues de façon bénéficiaire (ce total inclut des RSU non acquises). Le 08/09/2025, la personne déclarée a acquis 19 404 actions via exercice/plan à 4,14 $ et a simultanément vendu 19 404 actions à un prix moyen pondéré de 40,0285 $ (ventes réalisées dans la fourchette 40,00 $�40,25 $). L'acquisition du 08/09/2025 a été automatique en vertu d'un plan adopté le 19/02/2025 visant à satisfaire la règle 10b5-1(c). La déclaration corrige un signalement antérieur pour refléter une mauvaise classification d'un exercice d'option et indique que le lot d'options est acquis et exerçable.

Insider-Meldung von Waystar Holding Corp. durch Eric L. Sinclair III meldet eine aktienbasierte Steuerabzugsveräußerung sowie automatische Transaktionen unter einem 10b5-1-Plan und Optionenaktivitäten. Am 06.06.2025 wurden 16.044 Aktien einbehalten, um Steuern auf die Ausübung von Optionen zum Kurs von $40,55 zu zahlen, wodurch 474.826 Aktien wirtschaftlich gehalten blieben (diese Summe schließt nicht begünstigte RSU mit ein). Am 08.09.2025 erwarb die meldepflichtige Person 19.404 Aktien durch Ausübung/Plan zu $4,14 und verkaufte gleichzeitig 19.404 Aktien zu einem gewogenen Durchschnittspreis von $40,0285 (Verkäufe erfolgten im Bereich $40,00�$40,25). Der Erwerb am 08.09.2025 erfolgte automatisch nach einem am 19.02.2025 eingeführten Plan zur Erfüllung von Regel 10b5-1(c). Die Meldung korrigiert frühere Angaben, um eine zuvor fehlerhafte Klassifizierung einer Optionsausübung zu berichtigen, und erklärt, dass die Optionspartie ausgeprägt und ausübbar ist.

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).
X
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*
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)
06/06/2025
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 06/06/2025 F 16,044 D $40.55 474,826(1)(2) D
Common Stock 09/08/2025 M 19,404 A $4.14 494,230(1)(3) D
Common Stock 09/08/2025 S 19,404 D $40.0285(4) 474,826(1)(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
Stock Options (right to buy) $4.14 09/08/2025 M 19,404 (5) 11/01/2027 Common Stock 19,404 $0 77,608 D
Explanation of Responses:
1. Includes unvested RSUs.
2. This transaction was not timely filed. The transaction represents shares of common stock withheld to pay taxes upon vesting of Non-Qualified Stock Options granted to the Reporting Person on June 6, 2024. The number of shares withheld was determined on June 6, 2025, based on the closing price of WAY common stock on that date. In addition, the total number of shares beneficially owned following the reported transaction reflects a correction to prior filings to account for an earlier misclassification of an option exercise. The ending balance reported herein is accurate and reflects the Reporting Person's current holdings.
3. 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).
4. 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 $40.00 to $40.25, 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.
5. These options are currently vested.
Remarks:
/s/ Gregory R. Packer, as Attorney-in-Fact 09/10/2025
** 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 the Form 4 for WAY filed by Eric L. Sinclair III report?

The Form 4 reports 16,044 shares withheld for taxes on 06/06/2025 and automated transactions on 09/08/2025 where 19,404 shares were acquired at $4.14 and 19,404 shares were sold at a weighted average of $40.0285.

Did the filing disclose use of a trading plan for WAY insider transactions?

Yes. The 09/08/2025 transactions occurred automatically pursuant to a plan adopted on 02/19/2025 intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Does the filing show any corrections to prior reports for WAY?

Yes. The filing states it reflects a correction to prior filings to account for an earlier misclassification of an option exercise and provides the corrected ending beneficial ownership balance of 474,826 shares.

Was any filing described as untimely in the Form 4 for WAY?

Yes. The filing states the 06/06/2025 tax-withholding transaction was not timely filed.

Are the reported options vested or unvested?

The filing states these options are currently vested and the derivative table shows 19,404 underlying common shares tied to the reported option activity.
Waystar Holding Corp.

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