Health Catalyst, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Health Catalyst, Inc. on September 10, 2025. The filing discloses significant executive leadership changes, specifically the appointment of a new President and Chief Operating Officer (COO) and the departure of the former COO.
Key Financial Metrics
This filing does not report operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and corporate governance events.
Material Changes and Executive Compensation
- New Appointment: Benjamin Albert was appointed President and COO, effective September 16, 2025. He previously served as CEO of Upfront Healthcare Services, acquired by Health Catalyst in January 2025.
- Departure: Dan LeSueur ceased serving as COO and principal operating officer effective September 15, 2025. The departure is not due to any disagreement with the Company.
- Compensation Package for Mr. Albert:
- Base Salary: $475,000.
- Annual Bonus Target: 75% of base salary.
- Restricted Stock Units (RSUs): 467,000 units (1/3 vesting on September 10, 2026; remainder quarterly).
- Performance RSUs (PRSUs): 233,000 units with a three-year vesting period tied to Total Shareholder Return (vs. Russell 3000), adjusted EBITDA margin, and revenue growth.
- Prior Acquisition Context: Mr. Albert previously received approximately $1.21 million in cash and 269,765 shares of Health Catalyst common stock as part of the Upfront Healthcare Services merger consideration in January 2025.
Outlook, Risks, and Contingencies
The filing contains standard forward-looking statements regarding the commencement of Mr. Albert's role. Actual results may differ due to risks and uncertainties disclosed in the Company's recent Form 10-K and subsequent filings. No specific new business risks or contingencies were detailed in this report beyond standard executive transition risks.
Investor Verification Checklist
- Verify the full text of the Offer Letter (Exhibit 10.1) for detailed vesting schedules and performance metrics.
- Review the Executive Severance Plan (Exhibit 10.3) to understand potential payout obligations upon termination.
- Monitor future filings for the achievement of Earn-Out Performance Targets related to the Upfront acquisition, which could impact Mr. Albert's total compensation.
- Confirm the transition timeline between Mr. LeSueur's departure and Mr. Albert's start date to ensure operational continuity.