HEALTHEQUITY, INC. — Director's Dealing 2021

Apr 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEALTHEQUITY, INC. (HQY)
CIK: 0001428336
Period of Report: 2021-03-30

Reporting Person: Otten William Robert (Executive VP of Sales)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-30	Common Stock	A	4975	—	Acquired	38446	Direct
2021-03-30	Common Stock	A	4113	—	Acquired	42559	Direct
2021-03-31	Common Stock	F	704	$67.5022	Disposed	41855	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$51.44	2027-06-21	Common Stock (43000)	43000	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units will vest as to 1,244 shares on each of March 30, 2022, 2023 and 2024. The remaining 1,243 shares will vest on March 30, 2025.

F2: Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. The restricted stock units vested as to 4,113 shares on March 30, 2021.

F3: The shares reported on this Form 4 are subject to a lock-up agreement between the reporting person and BofA Securities, Inc. dated February 16, 2021 (the "Lock-up Date") pursuant to which the remaining shares reported in Table I of this Form 4 cannot be sold for 45 days following the Lock-up Date.

F4: The option is exercisable as to 32,250 shares. The remaining 10,750 options become exercisable on June 21, 2021.