HealthStream (HSTM) 10% Owner Robert A. Frist Jr Sells 144,068 Shares

What Happened
Robert A. Frist Jr., a reported 10% owner of HealthStream, Inc. (HSTM), sold 144,068 shares of common stock in a privately negotiated transaction on September 14, 2026. The shares were sold at $29.50 per share for gross proceeds of $4,250,006. This was a sale (not a purchase); sales by large holders can be routine portfolio moves rather than a direct signal about company fundamentals.

Key Details

• Transaction date: 2026-09-14; Filing date: 2026-09-15 (filed promptly).
• Price and quantity: 144,068 shares at $29.50 per share; total value $4,250,006.
• Buyer and agreement: Sale pursuant to a Securities Purchase Agreement dated September 11, 2026, to WJRJJ Ventures, LLC (private sale).
• Shares owned after transaction: Not specified in this filing.
• Transaction code: S (sale). No 10b5-1 plan, tax withholding, or option exercise noted in the filing.
• Timeliness: Filing appears timely (reporting the 9/14 transaction on 9/15).

Context
As a 10% owner, Frist is a large shareholder rather than an executive trading under regular payroll-related plans; such disposals are often done for portfolio or liquidity reasons. Because this was a private negotiated sale (not an open-market sale), it involved a specific buyer and price and does not necessarily imply market-wide sentiment about HealthStream.