HealthStream (HSTM) CTO Jeff Cunningham Receives RSUs; Shares Withheld for Taxes

What Happened
Jeff Cunningham, Chief Technology Officer of HealthStream (HSTM), had restricted stock units (RSUs) convert/vest on September 29, 2026. The filing shows RSU conversions (transaction code M) resulting in shares being issued and a related tax-withholding event (code F) where 381 shares were surrendered at $29.10/share to satisfy withholding obligations (total ~$11,087). Several RSU conversion lines in the filing reflect additional conversions/dispositions reported at $0 value (these are conversion/settlement entries rather than open-market sales).

Key Details

• Transaction date: September 29, 2026.
• RSU conversions/exercises (code M): entries for 1,564 shares acquired @ $0.00 and additional conversion/settlement lines for 844, 410 and 310 shares reported as disposed @ $0.00.
• Tax withholding (code F): 381 shares withheld @ $29.10 = $11,087 to cover tax liability.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: confirms these were RSUs (1 RSU = right to one share) subject to multi-year vesting schedules and that shares were withheld to pay taxes.
• Filing status: report filed on Sept 29, 2026 (same date as transactions).

Context
RSUs are a grant that converts to shares upon vesting; conversion (M) entries are not the same as a market sale. The 381-share withholding is a routine tax-satisfaction method (shares surrendered or net-settled), not an open-market sale signaling a change in sentiment. Transaction codes: M = option/RSU conversion, F = settlement for tax liability.