Michael Manning Collier, Executive Vice President at HealthStream Inc, filed a Form 4 on November 6, 2026, reporting transactions in HealthStream common stock and employee stock options dated November 5, 2026.

Key Highlights

  • Open-market sale: Collier disposed of 3,300 shares of common stock at a weighted average price of $30.5972, with individual trades ranging from $30.23 to $31.01.
  • Option exercise: Collier exercised an employee stock option covering 18,000 shares at an exercise price of $20.34 per share, with the option expiring December 9, 2030.
  • Cashless exercise sale: The 18,000 shares acquired through the option exercise were simultaneously sold at a weighted average price of $29.8535, with individual trades ranging from $29.41 to $30.36, through a broker-assisted cashless exercise.
  • Resulting ownership: Following all reported transactions, Collier directly held 59,260 shares of common stock.
  • Options extinguished: The exercised employee stock option position was reduced to zero derivative securities beneficially owned following the transaction.
  • Vesting history: The exercised options vested in four tranches: 15% on December 9, 2021; 20% on December 9, 2022; 30% on December 9, 2023; and the remaining 35% on December 9, 2024.

Collier's November 5, 2026 Transactions in HealthStream Common Stock

According to the Form 4 filed with the SEC, Michael Manning Collier, Executive Vice President of HealthStream Inc (NASDAQ:HSTM), reported three transactions in the company's common stock, all dated November 5, 2026. The first was an open-market disposition of 3,300 shares at a weighted average sale price of $30.5972, executed across multiple trades priced between $30.23 and $31.01. Prior to this sale, the filing does not separately state a beginning share count for that transaction sequence, but the post-transaction balance after the first sale is not explicitly broken out as an intermediate figure in the filing.

The second and third transactions were linked. Collier exercised an employee stock option granting the right to purchase 18,000 shares of common stock at $20.34 per share, with an expiration date of December 9, 2030. Per the filing, the exercise price of the derivative security was recorded at $0. Immediately following the exercise, the 18,000 acquired shares were sold through a broker-assisted cashless exercise at a weighted average price of $29.8535, with individual trade prices ranging from $29.41 to $30.36. The filing notes that full information on the number of shares and prices at each trade is available upon request to the SEC staff, the issuer, or a security holder.

After all three transactions, Collier's direct beneficial ownership in HealthStream common stock stood at 59,260 shares, according to the filing. No shares are reported held indirectly. The filing was signed by Michael M. Collier and submitted on November 6, 2026.

What Was Disclosed

The Form 4 disclosed three transactions by HealthStream Executive Vice President Michael Manning Collier on November 5, 2026: an open-market sale of 3,300 shares, an option exercise for 18,000 shares, and a simultaneous cashless sale of those 18,000 shares, leaving Collier with 59,260 shares held directly.