---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-030399"
form_type: "8-K"
ticker: "HSTM"
cik: "0001095565"
company_name: "HEALTHSTREAM INC"
filed_at: "2026-09-15T13:27:36+00:00"
generated_at: "2026-09-15T13:29:04.715644+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HealthStream closes $40M private placement with WJRJJ; CEO sells 144K shares

## Summary
- Company issued 1,355,932 shares to WJRJJ Ventures at $29.50/share for ~$40M; closed Sept 14, 2026.
- CEO Robert Frist sold 144,068 shares to WJRJJ for ~$4.25M; retains ~16.4% stake, remains largest shareholder.
- Proceeds for general corporate purposes: investment in solutions, working capital, potential acquisitions.
- Investor Willis Johnson (Copart founder) also owns 42% of Empath Nursing; HealthStream holds ~5% stake in Empath.
- Registration rights granted for resale; shares issued under Section 4(a)(2) exemption.

## SEC filing metadata
- accession: 0001437749-26-030399
- form_type: 8-K
- ticker: HSTM
- cik: 0001095565
- company_name: HEALTHSTREAM INC
- filed_at: 2026-09-15T13:27:36+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1095565/000143774926030399/0001437749-26-030399-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1095565/000143774926030399/hstm20260914_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-030399
- JSON: https://secwatch.observer/filing/0001437749-26-030399.json
- Plain text: https://secwatch.observer/filing/0001437749-26-030399.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.