HealthStream CEO Bobby Frist Jr. is giving $2.25 million worth of his company shares to more than 1,000 employees, according to a news release. He's also giving an additional 7,113 shares valued at approximately $185,000 to cover administrative costs. Shares of HealthStream were trading at $26.17 per share as of Thursday morning
The gift equals 86,494 shares in the company, or approximately $2,200 worth of HealthStream stock per employee. The group does not include any C-suite level executives.
"I am excited to make this contribution to allow our employees, many of whom have not previously participated in our equity programs, to become owners in the company that they helped to build and join all of our stakeholders in the future success of HealthStream," Frist said in the release.
HealthStream is a Nashville-based provider of healthcare employee management software with $244.8 million of revenue last year.
Frist owned more than 5.6 million HealthStream shares that were worth about $158 million in March. Last year, Healthstream paid Frist a salary of $335,000 and about $265,000 in various forms of equity compensation, according to the Nashville Post.
This is not the first time Frist has gifted employees his company stock. In 2019, he gave $2 million worth of his HealthStream shares to approximately 820 employees.