HEALTHSTREAM INC — Director's Dealing 2013

May 3, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HEALTHSTREAM INC (HSTM)
CIK: 0001095565
Period of Report: 2013-05-01

Reporting Person: PEARSON J EDWARD (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-05-01	Common Stock	M	7008	$3.39	Acquired	16913	Direct
2013-05-01	Common Stock	S	7008	$22.399	Disposed	9905	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-05-01	Employee Stock Option (right to buy)	$3.39	M	7008	Disposed	2014-06-14	Common Stock (7008)	Direct

Footnotes

F1: The sales reported in this Form 4 were affected pursuant to a Rule 10b5-1 sales plan adopted by the reporting person on March 20, 2013.

F2: This transaction was executed in multiple trades at prices ranging from $22.32 to $22.98. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.