HERCULES HOLDING II 4

What Happened
Hercules Holding II, listed as a 10% owner of HCA Healthcare, distributed 36,629,188 shares of HCA common stock on February 6, 2026. The transaction is reported as an "other acquisition or disposition" (code J) with a reported price of $0.00, meaning the shares were distributed for no consideration (no cash proceeds).

Key Details

• Transaction date: 2026-02-06; Filing date: 2026-02-10.
• Shares distributed: 36,629,188; reported price per share: $0.00; total proceeds: $0.
• Shares owned after transaction: not stated in the provided filing excerpt.
• Footnotes: (F1) The distribution was pro rata and represented shares previously indirectly beneficially owned by the reporting person and transferred to Frisco Holding II. (F2) The reporting person is held by a private investor group that includes affiliates of HCA founder Dr. Thomas F. Frist Jr.
• Transaction code: J (other acquisition/disposition — here, a distribution).

Context
This was an internal distribution to a related entity, not an open-market sale, so it did not generate cash and does not necessarily reflect a change in market sentiment by the owner. For retail investors, distributions or transfers among affiliated holders (especially from a 10% owner or private investor group) are typically administrative or ownership-structure moves rather than typical insider buys or sells.