Karrels Kevin C 4

4 · HEARTLAND FINANCIAL USA INC · Filed Dec 5, 2022

Form 4

Period: 2022-12-01

EVP, Head of Consumer, Retail

Transactions

Award
Non-Qualified Stock Option (Right To Buy)
2022-12-01+5,161→ 5,161 total
Exercise: $48.79Exp: 2032-12-01→ Common Stock (5,161 underlying)

Holdings

Common Stock
1,809
2020 Time-Based Restricted Stock
→ Common Stock (374 underlying)
374
2022 Performance Based Restricted Stock (3-year performance)
→ Common Stock (1,340 underlying)
1,340
2022 Time-Based Restricted Stock
→ Common Stock (893 underlying)
893
2021 Time-Based Restricted Stock
→ Common Stock (614 underlying)
614
2020 Performance Based Restricted Stock (3-year performance)
→ Common Stock (1,124 underlying)
1,124
2021 Performance Based Restricted Stock (3-year performance)
→ Common Stock (1,374 underlying)
1,374

Footnotes (8)

[F1]Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock.
[F2]These restricted stock units vest in 2023 if certain performance measures are achieved by the Issuer.
[F3]Of these restricted stock units, 1/3 vest on 3-6-2021, 1/3 vest on 3-6-2022, and 1/3 vest on 3-6-2023.
[F4]These restricted stock units vest in 2024 if certain performance measures are achieved by the Issuer
[F5]Of these restricted stock units, 1/3 vest on 3-6-2022, 1/3 vest on 3-6-2023, and 1/3 vest on 3-6-2024.
[F6]These restricted stock units vest in 2025 if certain performance measures are achieved by the Issuer
[F7]Of these restricted stock units, 1/3 vest on 3-6-2023, 1/3 vest on 3-6-2024, and 1/3 vest on 3-6-2025.
[F8]The options shall vest 25% on each of the first four anniversaries of the grant date of the award

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