HEALTHEQUITY, INC. — Director's Dealing 2025

Apr 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEALTHEQUITY, INC. (HQY)
CIK: 0001428336
Period of Report: 2025-04-02

Reporting Person: Neeleman Stephen (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-04-02	Common Stock	A	14086	—	Acquired	102008	Direct
2025-04-02	Common Stock	A	21969	—	Acquired	123977	Direct
2025-04-03	Common Stock	F	1316	$83.8754	Disposed	122661	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	553235	Indirect
Common Stock	203000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$41.28	2027-03-27	Common Stock (19897)	19897	Direct
Stock Options (right to buy)	$61.72	2028-03-27	Common Stock (14228)	14228	Direct
Stock Options (right to buy)	$73.61	2029-03-26	Common Stock (15337)	15337	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock. Shares vest as to 25% of the initial award on April 1, 2026. Shares shall vest as to 6.25% thereafter on the first day of each calendar quarter for the twelve calendar quarters following April 1, 2026.

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 21,969 shares on April 2, 2025.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $83.8749 to $83.8757 inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (3) of this Form 4.

F4: Shares held of record by the Stephen and Christine Neeleman Trust.

F5: Shares held of record by Neeleman Family Holdings, LLC ("Family Holdings"), a Utah limited liability company. The reporting person is the manager of Family Holdings. The reporting person disclaims beneficial ownership of the shares held by Family Holdings except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of the shares held by Family Holdings for any other purposes.

F6: The option is immediately exercisable.