WAY Waystar Holding Corp.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q3 2025: $0M, Q2 2025: $1M, Q1 2025: $0M, Q3 2024: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $0M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $1M / FCF $83M = 1% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by MILLER HEIDI

• MILLER HEIDI () bought 7,200 shares at $26.25 on 2026-03-02

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters but insufficient insider buying

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $2M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 8362.8x more than bought. 6 C-suite officers among sellers

• Sinclair III Eric L. (Ric) (Chief Business Officer) sold 40,225 shares on 2026-01-20
• Sinclair III Eric L. (Ric) (Chief Business Officer) sold 9,701 shares on 2025-12-22
• Schremser Christopher L. (Chief Technology Officer) sold 8,623 shares on 2025-12-10
• Miller Melissa F. (Missy) (Chief Marketing Officer) sold 3,400 shares on 2025-11-25
• Sinclair III Eric L. (Ric) (Chief Business Officer) sold 9,701 shares on 2025-11-20
• Schremser Christopher L. (Chief Technology Officer) sold 8,623 shares on 2025-11-10
• Sinclair III Eric L. (Ric) (Chief Business Officer) sold 9,701 shares on 2025-10-20
• Hawkins Matthew J. (Chief Executive Officer) sold 200 shares on 2025-10-15
• Schremser Christopher L. (Chief Technology Officer) sold 8,623 shares on 2025-10-10
• Hawkins Matthew J. (Chief Executive Officer) sold 12,200 shares on 2025-09-22