[Form 4] HCA Healthcare, Inc. Insider Trading Activity
Michael S. Cuffe, Executive Vice President and Chief Clinical Officer of HCA Healthcare (HCA), reported transactions under a Rule 10b5-1 plan adopted May 6, 2025. On 09/04/2025 he exercised 10,920 stock appreciation rights at an exercise price tied to $173.12 and those underlying 10,920 common shares were issued. On 09/04/2025 he sold 7,084 shares at $411.59 and on 09/08/2025 he sold 3,836 shares at $418.84, which together equal the 10,920 shares from the SAR exercise. Following these transactions his reported beneficial ownership stood at 31,502.9017 shares, which includes 2,595.9017 shares held under the company's employee stock purchase plans. The SARs vested in four equal annual installments beginning February 3, 2022.
Michael S. Cuffe, Executive Vice President e Chief Clinical Officer di HCA Healthcare (HCA), ha segnalato operazioni effettuate ai sensi di un piano Rule 10b5-1 adottato il 6 maggio 2025. Il 04/09/2025 ha esercitato 10.920 stock appreciation rights con prezzo di esercizio collegato a $173,12 e sono state emesse le corrispondenti 10.920 azioni ordinarie. Il 04/09/2025 ha venduto 7.084 azioni a $411,59 e l鈥�08/09/2025 ha venduto 3.836 azioni a $418,84, operazioni che insieme corrispondono alle 10.920 azioni derivanti dall鈥檈sercizio dei SAR. Dopo queste transazioni la sua partecipazione beneficiaria segnalata risultava pari a 31.502,9017 azioni, comprensive di 2.595,9017 azioni detenute nei piani di acquisto azionario per dipendenti dell鈥檃zienda. I SAR sono maturati in quattro rate annuali uguali a partire dal 3 febbraio 2022.
Michael S. Cuffe, Vicepresidente Ejecutivo y Chief Clinical Officer de HCA Healthcare (HCA), inform贸 operaciones bajo un plan Rule 10b5-1 adoptado el 6 de mayo de 2025. El 04/09/2025 ejerci贸 10.920 derechos de apreciaci贸n sobre acciones con un precio de ejercicio vinculado a $173.12 y se emitieron las 10.920 acciones ordinarias subyacentes. El 04/09/2025 vendi贸 7.084 acciones a $411.59 y el 08/09/2025 vendi贸 3.836 acciones a $418.84, operaciones que suman las 10.920 acciones derivadas del ejercicio de los SAR. Tras estas transacciones, su propiedad beneficiaria reportada era de 31.502,9017 acciones, que incluyen 2.595,9017 acciones mantenidas en los planes de compra de acciones para empleados de la compa帽铆a. Los SAR vencieron en cuatro cuotas anuales iguales a partir del 3 de febrero de 2022.
Michael S. Cuffe電� HCA Healthcare(HCA)鞚� 攵�靷灔 瓴� 斓滉碃鞛勳儊毂呾瀯鞛愲靹� 2025雲� 5鞗� 6鞚� 毂勴儩霅� Rule 10b5-1 瓿勴殟鞐� 霐半ジ 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 2025雲� 9鞗� 4鞚检棎 頄夓偓臧�瓴╈澊 $173.12鞐� 鞐半彊霅� 10,920臧滌潣 鞀ろ啞 鞎犿攧毽嫓鞐愳澊靺� 霛检澊韸�(SAR)毳� 頄夓偓頃橃棳 頃措嫻頃橂姅 10,920臧滌潣 氤错喌欤缄皜 氚滍枆霅橃棃鞀惦媹雼�. 2025雲� 9鞗� 4鞚检棎電� 7,084欤茧ゼ 欤茧嫻 $411.59鞐�, 2025雲� 9鞗� 8鞚检棎電� 3,836欤茧ゼ 欤茧嫻 $418.84鞐� 臧侁皝 毵る弰頄堨溂氅�, 鞚� 毵る弰攵勳潃 SAR 頄夓偓搿� 鞏混潃 10,920欤检檧 頃╈硱歆戨媹雼�. 鞚� 瓯半灅霌� 頉� 攴胳潣 氤搓碃霅� 鞁れ唽鞙犾＜電� 須岇偓 歆侅洂 欤检嫕 毵れ垬 瓿勴殟鞐� 韽暔霅� 2,595.9017欤茧ゼ 韽暔頃� 31,502.9017欤检榾鞀惦媹雼�. 頃措嫻 SAR電� 2022雲� 2鞗� 3鞚茧秬韯� 4雲勱皠 毵る厔 霃欖澕頃� 牍勳湪搿� 氩犾姢韺呺悩鞐堨姷雼堧嫟.
Michael S. Cuffe, vice-pr茅sident ex茅cutif et Chief Clinical Officer de HCA Healthcare (HCA), a d茅clar茅 des op茅rations r茅alis茅es dans le cadre d鈥檜n plan Rule 10b5-1 adopt茅 le 6 mai 2025. Le 04/09/2025, il a exerc茅 10鈥�920 droits d鈥檃ppr茅ciation d鈥檃ctions (SAR) 脿 un prix d鈥檈xercice li茅 脿 173,12 $ et les 10鈥�920 actions ordinaires sous-jacentes ont 茅t茅 茅mises. Le 04/09/2025, il a vendu 7鈥�084 actions 脿 411,59 $ et le 08/09/2025, il a vendu 3鈥�836 actions 脿 418,84 $, ces ventes correspondant ensemble aux 10鈥�920 actions r茅sultant de l鈥檈xercice des SAR. 脌 la suite de ces transactions, sa participation b茅n茅ficiaire d茅clar茅e s鈥櫭﹍evait 脿 31鈥�502,9017 actions, incluant 2鈥�595,9017 actions d茅tenues dans les plans d鈥檃chat d鈥檃ctions r茅serv茅s aux employ茅s de la soci茅t茅. Les SAR ont acquis droit en quatre versements annuels 茅gaux 脿 compter du 3 f茅vrier 2022.
Michael S. Cuffe, Executive Vice President und Chief Clinical Officer von HCA Healthcare (HCA), meldete Transaktionen im Rahmen eines nach dem Rule-10b5-1-Plan am 6. Mai 2025 angenommenen Plans. Am 04.09.2025 眉bte er 10.920 Stock Appreciation Rights zu einem Aus眉bungspreis, der an $173,12 gebunden ist, aus und die zugrundeliegenden 10.920 Stammaktien wurden ausgegeben. Am 04.09.2025 verkaufte er 7.084 Aktien zu $411,59 und am 08.09.2025 verkaufte er 3.836 Aktien zu $418,84, was zusammen den 10.920 Aktien aus der SAR-Aus眉bung entspricht. Nach diesen Transaktionen belief sich sein gemeldetes wirtschaftliches Eigentum auf 31.502,9017 Aktien, einschlie脽lich 2.595,9017 Aktien, die in den Employee Stock Purchase Plans des Unternehmens gehalten werden. Die SARs wurden in vier gleichen j盲hrlichen Raten beginnend am 3. Februar 2022 vested.
- Transactions executed under a Rule 10b5-1 plan, indicating prearranged trading and reduced insider trading concerns.
- Full disclosure of SAR vesting schedule and inclusion of ESPP shares enhances transparency.
- Complete reporting of exercised SARs and corresponding sales, with final beneficial ownership specified.
- Executive sold all shares resulting from the SAR exercise (10,920 shares), reducing direct holdings.
- Material proceeds from sales may attract investor attention, though no inference about company fundamentals is provided in the filing.
Insights
TL;DR: Insider exercised SARs and immediately sold the resulting shares under a preexisting 10b5-1 plan; ownership decreased but remaining stake is disclosed.
The reporting shows a routine exercise of stock appreciation rights and contemporaneous sales executed pursuant to a Rule 10b5-1 trading plan. The total exercised SARs (10,920 shares) were fully sold across two transactions, producing proceeds at market prices of $411.59 and $418.84 per share. This is a liquidity event by the executive rather than an atypical open-market sale; the filing discloses ESPP holdings and final beneficial ownership of 31,502.9017 shares. From an earnings or operational standpoint, there is no direct financial impact on HCA's results disclosed here.
TL;DR: The filing documents compliant insider activity under a documented 10b5-1 plan with clear vesting and disclosure of ESPP shares.
The form identifies proper use of a Rule 10b5-1 plan adopted May 6, 2025, and includes vesting history for the SARs, which supports adherence to planned trading windows and mitigation of insider-trading concerns. The signature by an attorney-in-fact is present. The transactions appear transparent and fully reported, satisfying Section 16 disclosure obligations; no indications of undisclosed related-party or indirect ownership beyond ESPP shares are shown.
Michael S. Cuffe, Executive Vice President e Chief Clinical Officer di HCA Healthcare (HCA), ha segnalato operazioni effettuate ai sensi di un piano Rule 10b5-1 adottato il 6 maggio 2025. Il 04/09/2025 ha esercitato 10.920 stock appreciation rights con prezzo di esercizio collegato a $173,12 e sono state emesse le corrispondenti 10.920 azioni ordinarie. Il 04/09/2025 ha venduto 7.084 azioni a $411,59 e l鈥�08/09/2025 ha venduto 3.836 azioni a $418,84, operazioni che insieme corrispondono alle 10.920 azioni derivanti dall鈥檈sercizio dei SAR. Dopo queste transazioni la sua partecipazione beneficiaria segnalata risultava pari a 31.502,9017 azioni, comprensive di 2.595,9017 azioni detenute nei piani di acquisto azionario per dipendenti dell鈥檃zienda. I SAR sono maturati in quattro rate annuali uguali a partire dal 3 febbraio 2022.
Michael S. Cuffe, Vicepresidente Ejecutivo y Chief Clinical Officer de HCA Healthcare (HCA), inform贸 operaciones bajo un plan Rule 10b5-1 adoptado el 6 de mayo de 2025. El 04/09/2025 ejerci贸 10.920 derechos de apreciaci贸n sobre acciones con un precio de ejercicio vinculado a $173.12 y se emitieron las 10.920 acciones ordinarias subyacentes. El 04/09/2025 vendi贸 7.084 acciones a $411.59 y el 08/09/2025 vendi贸 3.836 acciones a $418.84, operaciones que suman las 10.920 acciones derivadas del ejercicio de los SAR. Tras estas transacciones, su propiedad beneficiaria reportada era de 31.502,9017 acciones, que incluyen 2.595,9017 acciones mantenidas en los planes de compra de acciones para empleados de la compa帽铆a. Los SAR vencieron en cuatro cuotas anuales iguales a partir del 3 de febrero de 2022.
Michael S. Cuffe電� HCA Healthcare(HCA)鞚� 攵�靷灔 瓴� 斓滉碃鞛勳儊毂呾瀯鞛愲靹� 2025雲� 5鞗� 6鞚� 毂勴儩霅� Rule 10b5-1 瓿勴殟鞐� 霐半ジ 瓯半灅毳� 氤搓碃頄堨姷雼堧嫟. 2025雲� 9鞗� 4鞚检棎 頄夓偓臧�瓴╈澊 $173.12鞐� 鞐半彊霅� 10,920臧滌潣 鞀ろ啞 鞎犿攧毽嫓鞐愳澊靺� 霛检澊韸�(SAR)毳� 頄夓偓頃橃棳 頃措嫻頃橂姅 10,920臧滌潣 氤错喌欤缄皜 氚滍枆霅橃棃鞀惦媹雼�. 2025雲� 9鞗� 4鞚检棎電� 7,084欤茧ゼ 欤茧嫻 $411.59鞐�, 2025雲� 9鞗� 8鞚检棎電� 3,836欤茧ゼ 欤茧嫻 $418.84鞐� 臧侁皝 毵る弰頄堨溂氅�, 鞚� 毵る弰攵勳潃 SAR 頄夓偓搿� 鞏混潃 10,920欤检檧 頃╈硱歆戨媹雼�. 鞚� 瓯半灅霌� 頉� 攴胳潣 氤搓碃霅� 鞁れ唽鞙犾＜電� 須岇偓 歆侅洂 欤检嫕 毵れ垬 瓿勴殟鞐� 韽暔霅� 2,595.9017欤茧ゼ 韽暔頃� 31,502.9017欤检榾鞀惦媹雼�. 頃措嫻 SAR電� 2022雲� 2鞗� 3鞚茧秬韯� 4雲勱皠 毵る厔 霃欖澕頃� 牍勳湪搿� 氩犾姢韺呺悩鞐堨姷雼堧嫟.
Michael S. Cuffe, vice-pr茅sident ex茅cutif et Chief Clinical Officer de HCA Healthcare (HCA), a d茅clar茅 des op茅rations r茅alis茅es dans le cadre d鈥檜n plan Rule 10b5-1 adopt茅 le 6 mai 2025. Le 04/09/2025, il a exerc茅 10鈥�920 droits d鈥檃ppr茅ciation d鈥檃ctions (SAR) 脿 un prix d鈥檈xercice li茅 脿 173,12 $ et les 10鈥�920 actions ordinaires sous-jacentes ont 茅t茅 茅mises. Le 04/09/2025, il a vendu 7鈥�084 actions 脿 411,59 $ et le 08/09/2025, il a vendu 3鈥�836 actions 脿 418,84 $, ces ventes correspondant ensemble aux 10鈥�920 actions r茅sultant de l鈥檈xercice des SAR. 脌 la suite de ces transactions, sa participation b茅n茅ficiaire d茅clar茅e s鈥櫭﹍evait 脿 31鈥�502,9017 actions, incluant 2鈥�595,9017 actions d茅tenues dans les plans d鈥檃chat d鈥檃ctions r茅serv茅s aux employ茅s de la soci茅t茅. Les SAR ont acquis droit en quatre versements annuels 茅gaux 脿 compter du 3 f茅vrier 2022.
Michael S. Cuffe, Executive Vice President und Chief Clinical Officer von HCA Healthcare (HCA), meldete Transaktionen im Rahmen eines nach dem Rule-10b5-1-Plan am 6. Mai 2025 angenommenen Plans. Am 04.09.2025 眉bte er 10.920 Stock Appreciation Rights zu einem Aus眉bungspreis, der an $173,12 gebunden ist, aus und die zugrundeliegenden 10.920 Stammaktien wurden ausgegeben. Am 04.09.2025 verkaufte er 7.084 Aktien zu $411,59 und am 08.09.2025 verkaufte er 3.836 Aktien zu $418,84, was zusammen den 10.920 Aktien aus der SAR-Aus眉bung entspricht. Nach diesen Transaktionen belief sich sein gemeldetes wirtschaftliches Eigentum auf 31.502,9017 Aktien, einschlie脽lich 2.595,9017 Aktien, die in den Employee Stock Purchase Plans des Unternehmens gehalten werden. Die SARs wurden in vier gleichen j盲hrlichen Raten beginnend am 3. Februar 2022 vested.
FAQ
What did HCA insider Michael S. Cuffe do on 09/04/2025 and 09/08/2025?
Were these trades part of a prearranged plan for HCA (HCA)?
How many HCA shares does Michael S. Cuffe beneficially own after these transactions?
Did the filing disclose SAR vesting details?
Who signed the Form 4 on behalf of the reporting person?
