Healthstream CEO Bobby Frist Jr gives employees $ 2 million in shares

HealthStream CEO Bobby Frist Jr. is transferring $ 2.25 million worth of shares in his company to over 1,000 employees, according to a press release. It also gives an additional 7,113 shares worth approximately $ 185,000 to cover administrative costs. HealthStream shares were trading at $ 26.17 per share as of Thursday morning.

The gift equals 86,494 company shares, or approximately $ 2,200 in HealthStream shares per employee. This group does not include senior executives.

“I am delighted to make this contribution to enable our employees, many of whom have not previously participated in our equity programs, to become the owners of the company they helped create and join all of our stakeholders for the future success of HealthStream,” Frist said in press release.

HealthStream is a Nashville-based healthcare provider management software provider with $ 244.8 million in revenue last year.

Frist owned more than 5.6 million shares of HealthStream, which was valued at about $ 158 million in March. Last year, Healthstream paid Frist a salary of $ 335,000 and about $ 265,000 in various compensation payments, according to the Nashville Post.

This is not the first time Frist has donated shares of his company to employees. In 2019, he transferred $ 2 million worth of HealthStream shares to approximately 820 employees.

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