SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
NEWMAN ARTHUR E
(Last) (First) (Middle)
209 10TH AVE. SOUTH
SUITE 450
(Street)
NASHVILLE TN 37203
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
HEALTHSTREAM INC [ HSTM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Vice President
3. Date of Earliest Transaction (Month/Day/Year)
07/26/2013
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/26/2013 M 36,000 A $2.75 198,005 D
Common Stock 07/26/2013 M 20,509 A $3.75 218,514 D
Common Stock 07/26/2013 S 56,509 D $31.9675(1) 162,005 D
Common Stock 07/29/2013 M 11,100 A $3.75 173,105 D
Common Stock 07/29/2013 M 21,948 A $2.8 195,053 D
Common Stock 07/29/2013 S 33,048 D $32.0161(2) 162,005 D
Common Stock 07/30/2013 M 4,906 A $2.8 166,911 D
Common Stock 07/30/2013 S 4,906 D $31.9656(3) 162,005 D
Common Stock 1,000 I Held by children
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $2.75 07/26/2013 M 36,000 02/09/2007 02/09/2014 Common Stock 36,000 $0.00 0 D
Employee Stock Option (right to buy) $3.75 07/26/2013 M 8,500 03/07/2008 03/07/2015 Common Stock 8,500 $0.00 0 D
Employee Stock Option (right to buy) $3.75 07/26/2013 M 8,500 03/07/2009 03/07/2015 Common Stock 8,500 $0.00 0 D
Employee Stock Option (right to buy) $3.75 07/26/2013 M 3,509 03/07/2010 03/07/2015 Common Stock 3,509 $0.00 4,991 D
Employee Stock Option (right to buy) $3.75 07/29/2013 M 4,991 03/07/2010 03/07/2015 Common Stock 4,991 $0.00 0 D
Employee Stock Option (right to buy) $3.75 07/29/2013 M 6,109 03/07/2011 03/07/2015 Common Stock 6,109 $0.00 2,391 D
Employee Stock Option (right to buy) $2.8 07/29/2013 M 3,200 04/04/2009 04/04/2016 Common Stock 3,200 $0.00 0 D
Employee Stock Option (right to buy) $2.8 07/29/2013 M 6,400 04/04/2010 04/04/2016 Common Stock 6,400 $0.00 0 D
Employee Stock Option (right to buy) $2.8 07/29/2013 M 9,600 04/04/2011 04/04/2016 Common Stock 9,600 $0.00 0 D
Employee Stock Option (right to buy) $2.8 07/29/2013 M 2,748 04/04/2012 04/04/2016 Common Stock 2,748 $0.00 10,052 D
Employee Stock Option (right to buy) $2.8 07/30/2013 M 4,906 04/04/2012 04/04/2016 Common Stock 4,906 $0.00 5,146 D
Explanation of Responses:
1. This transaction was executed in multiple trades at prices ranging from $31.90 to $32.17. 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.
2. This transaction was executed in multiple trades at prices ranging from $31.90 to $32.30. 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.
3. This transaction was executed in multiple trades at prices ranging from $31.90 to $32.09. 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.
Remarks:
Arthur Newman 07/30/2013
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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