Item 5.02  Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 10, 2021, HealthEquity Inc. (the "Company" or "HealthEquity")
consolidated its sales and relationship management teams to allow the Company to
better leverage multiple sales channels and improve communication and
efficiencies. The consolidation will also position the Company to invest
additional resources in distribution partners such as health plans, brokers and
consultants, record keepers, and other distribution partners. The newly combined
sales and relationship management team will be led by the Company's Executive
Vice President of Sales and Relationship Management, Steve Lindsay. Mr. Lindsay
has been with HealthEquity since 2006 serving in various leadership roles,
during which time the Company expanded the number of its Network Partners from
less than 10 to its current 175.
In connection with the internal restructuring of the sales and relationship
management teams, HealthEquity eliminated the position of Executive Vice
President of Sales and terminated the employment of William Otten, effective
immediately. The Company treated Mr. Otten's departure from the Company as a
termination without "cause" pursuant to his employment agreement with the
Company, dated as of April 1, 2020 (the "Employment Agreement"). Subject to the
execution, delivery and non-revocation of the release of claims against the
Company and its subsidiaries and affiliates substantially in the form attached
to the Employment Agreement and Mr. Otten's compliance with certain covenants
contained therein, Mr. Otten will receive the previously negotiated severance
payments and benefits set forth in the Employment Agreement as detailed in the
Company's most recent proxy statement filed with the Securities and Exchange
Commission on May 13, 2021.
Item 9.01  Financial Statements and Exhibits
(d) Exhibits
    Exhibit No.    Description
    104            Cover Page Interactive Data File (formatted in Inline XBRL)


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