HEALTHSTREAM INC — Director's Dealing 2011

Nov 28, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEALTHSTREAM INC (HSTM)
CIK: 0001095565
Period of Report: 2011-11-23

Reporting Person: REBROVICK LINDA (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-23	Common Stock	M	5000	$1.39	Acquired	25000	Direct
2011-11-23	Common Stock	M	5000	$1.54	Acquired	30000	Direct
2011-11-23	Common Stock	S	10000	$15.4375	Disposed	20000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-23	Employee Stock Option (right to buy)	$1.39	M	5000	Disposed	2012-05-31	Common Stock (5000)	Direct
2011-11-23	Employee Stock Option (right to buy)	$1.54	M	5000	Disposed	2013-05-30	Common Stock (5000)	Direct

Footnotes

F1: This amount represents the $16.25 secondary public offering price per share of common stock, no par value ("Common Stock"), of HealthStream, Inc. less the underwriting discount of $0.8125 per share of Common Stock.