A Form 4 filed on August 27, 2026, discloses that Adrian T. Dillon, a director of HealthEquity, Inc. (NASDAQ:HQY), exercised stock options and sold shares of common stock on August 25, 2026, pursuant to a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Option exercise: Dillon exercised 7,632 stock options at an exercise price of $32.50 per share on August 25, 2026.
  • First sale: 6,300 shares were sold at a weighted average price of $104.4718, in multiple transactions ranging from $104.10 to $105.07.
  • Second sale: 1,332 shares were sold at a weighted average price of $105.2557, in multiple transactions ranging from $105.10 to $105.53.
  • Remaining ownership: Following all reported transactions, Dillon directly holds 62,395 shares of common stock.
  • Trading plan: All transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by Dillon on December 20, 2025.
  • Remaining options: Dillon retains stock options to purchase a total of 16,814 shares at exercise prices ranging from $46.40 to $66.06, all immediately exercisable.

Adrian Dillon's August 2026 Transactions in HealthEquity Common Stock

According to the filing, Adrian T. Dillon, who is identified as a director of HealthEquity, Inc., carried out three transactions in company common stock on August 25, 2026. The first was the exercise of 7,632 stock options at an exercise price of $32.50 per share, recorded under transaction code "M." This brought his directly held beneficial ownership to 70,027 shares before the subsequent sales.

The filing then reports two separate sale transactions, both coded "S." The first involved 6,300 shares sold at a weighted average price of $104.4718, with individual sale prices ranging from $104.10 to $105.07 inclusive. The second involved 1,332 shares sold at a weighted average price of $105.2557, with prices ranging from $105.10 to $105.53 inclusive. The filing notes that Dillon "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 sold at each separate price." After both sales, Dillon's direct beneficial ownership stood at 62,395 shares of common stock.

All three transactions were reported as having been made pursuant to a Rule 10b5-1 trading plan that Dillon adopted on December 20, 2025. In addition to the exercised and now-zeroed option, the filing shows Dillon retains four stock option positions with exercise prices of $46.40, $50.41, $63.64, and $66.06, covering 4,837, 4,339, 3,626, and 4,012 shares, respectively, each described as immediately exercisable with expiration dates ranging from February 1, 2027 to February 1, 2030. The form was signed by Michael Newton as attorney-in-fact.

What Was Disclosed

The filing reports that director Adrian T. Dillon of HealthEquity, Inc. exercised 7,632 stock options and sold a combined 7,632 shares of common stock on August 25, 2026, under a pre-established Rule 10b5-1 plan, leaving him with 62,395 directly held shares.