WJRJJ Ventures, LLC → HealthStream, Inc. HSTM

The information set forth in Item 3 of this Schedule is incorporated herein by reference. WJRJJ purchased shares of the Company's common stock pursuant to a Securities Purchase Agreement ("Securities Purchase Agreement"), dated as of September 11, 2026, by and among WJRJJ, the Company, and Robert A. Frist (the "Selling Shareholder"), under which (i) the Company agreed to issue to WJRJJ 1,355,932 shares of Common Stock, for an aggregate cash purchase price of approximately $40.0 million, or a purchase price of $29.50 per share, and (ii) the Selling Shareholder agreed to sell to WJRJJ 144,068 shares of Common Stock for an aggregate cash purchase price of approximately $4.25 million, or a purchase price of $29.50 per share. WJRJJ previously purchased 1,300,000 shares of the Company's common stock on the open market for an aggregate purchase price of approximately $36.7 million, excluding brokerage commissions. (a) Subject to the Standstill Restrictions and Lock-up described in Item 6 below, the Reporting Person from time to time may acquire additional shares of Common Stock or dispose of any or all of the shares of Common Stock that the Reporting Person owns depending upon an ongoing evaluation of its investment in the shares of common stock, prevailing market conditions, other investment opportunities, other investment considerations or other factors. (b) - (j) Except as disclosed in this Schedule, the Reporting Person has no plans or proposals which relate to, or could result in, any matters referred to in paragraphs (b) through (j) inclusive of the instructions to Item 4 of Schedule 13D. The Reporting Person may, at any time and from time to time, review or reconsider its position or change its purpose or formulate plans or proposals with respect thereto.