X0306 4 2020-04-06 0 0001428336 HEALTHEQUITY, INC. HQY 0001615062 Kessler Jon 15 WEST SCENIC POINTE DRIVE, SUITE 100 DRAPER UT 84020 1 1 0 0 President and CEO Common Stock 2020-04-06 4 F 0 42170 43.9652 D 505715 D Stock Option (right to buy) 41.28 2027-03-27 Common Stock 34819 34819 D Stock Option (right to buy) 41.28 2027-03-27 Common Stock 17410 17410 I by GKF, LLC Stock Option (right to buy) 61.72 2028-03-27 Common Stock 35894 35894 D Stock Option (right to buy) 61.72 2028-03-27 Common Stock 11965 11965 I by GKF, LLC Stock Option (right to buy) 14.00 2024-07-30 Common Stock 160000 160000 I by GKF, LLC Stock Option (right to buy) 73.61 2029-03-26 Common Stock 51125 51125 D The option became exercisable as to 17,410 shares on March 27, 2020. The remaining 17,409 shares will vest on March 27, 2021. The reporting person and his wife, who is a member of his immediate family, serve as co-managers of GKF, LLC (the "LLC"), which is wholly owned by the Jon Kessler and Laura M. Gottsman Family Trust (the "Trust"), of which the reporting person and his wife are co-trustees. The reporting person and members of his immediate family are the sole beneficiaries of the Trust. The option is immediately exercisable. The option became exercisable as to 11,965 shares on March 27, 2020. The option will vest as to 11,965 shares on March 27, 2021 and 11,964 shares on March 27, 2022. The option vested as to 12,782 shares on March 26, 2020. The remaining options will vest in annual installments of 12,781 on each of March 26, 2021, 2022 and 2023. /s/ Jon Kessler 2020-04-07