Michael J. Schlosser, EVP and Chief Clinical Officer of HCA Healthcare, Inc., filed a Form 4 on November 2, 2026, reporting stock appreciation right exercises and a share disposition that took place on October 29, 2026, along with the acquisition of new stock appreciation rights on the same date.

Key Highlights

  • Two SARs exercised: Schlosser exercised stock appreciation rights covering 3,030 shares at an exercise price of $81.96 and 1,898 shares at $82.85, both on October 29, 2026.
  • Shares acquired via exercise: The two M-coded transactions resulted in 3,030 and 1,898 shares of Common Stock acquired, respectively.
  • Tax withholding disposition: 2,455 shares were disposed of (transaction code F) at $478.08 per share on October 29, 2026.
  • New SARs granted: 2,797 stock appreciation rights were acquired on October 29, 2026, with an exercise price of $478.08, exercisable beginning October 29, 2027, and expiring October 29, 2036.
  • Direct beneficial ownership following transactions: 2,643.1027 shares of Common Stock held directly, plus 6,951 shares held indirectly by the 2022 Trust.
  • Prior SARs fully disposed: Both exercised SAR tranches were reduced to 0 remaining derivative securities following the transactions.

Schlosser's October 29 Transactions: SAR Exercises, Disposition, and New Grant at HCA Healthcare

According to the filing, Michael J. Schlosser, identified as EVP and Chief Clinical Officer of HCA Healthcare, Inc. (NYSE:HCA), conducted a series of transactions on October 29, 2026. He exercised two tranches of stock appreciation rights: 3,030 SARs with a conversion price of $81.96, which the filing notes vested in four equal annual installments beginning February 1, 2018, and 1,898 SARs with a conversion price of $82.85, which vested in four equal annual installments beginning May 3, 2018. Both tranches were fully exhausted following the exercises, with 0 derivative securities remaining in each.

On the same date, the filing reports a disposition of 2,455 shares of Common Stock at $478.08 per share, coded as an F transaction, which typically reflects shares withheld for tax purposes. Following all reported transactions, Schlosser's direct beneficial ownership stood at 2,643.1027 shares of Common Stock. He also holds 6,951 shares indirectly through the 2022 Trust, according to the filing.

The filing also discloses the acquisition of 2,797 new stock appreciation rights at a price of $0.00 on October 29, 2026, with an exercise price of $478.08. These new SARs are reported to vest in four equal annual installments beginning October 29, 2027, and expire on October 29, 2036. As of the filing date, all 2,797 newly granted SARs remain outstanding as direct holdings.

What Was Disclosed

The Form 4 filed November 2, 2026, by HCA Healthcare EVP and Chief Clinical Officer Michael J. Schlosser discloses SAR exercises, a share disposition, and a new SAR grant, all dated October 29, 2026, with resulting direct ownership of 2,643.1027 shares plus 6,951 shares held indirectly.