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Home/Filings/4/0001127602-23-014521
4//SEC Filing

Butsch Margo G. 4

Accession 0001127602-23-014521

CIK 0001053352other
View on SEC.govCompany Profile

Filed

May 3, 8:00 PM ET

Accepted

May 4, 5:01 PM ET

Size

11.6 KB

Accession

0001127602-23-014521

Insider Transaction Report

Form 4
Period: 2023-05-02
HERITAGE COMMERCE CORPHTBK
Butsch Margo G.
EVP/Chief Credit Officer
Transactions
  • Award

    Restricted Stock Unit

    2023-05-02+10,399→ 10,399 total
    Exercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,399 underlying)
  • Award

    Performance-Based Restricted Stock Unit

    2023-05-02+10,399→ 10,399 total
    Exercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,399 underlying)
Holdings

  • Common Stock, No Par Value

    56,877

  • Standard Employee Option - NSO

    Exercise: $10.34From: 2016-05-03Exp: 2026-05-03→ Common Stock, No Par Value (3,000 underlying)
    3,000

  • Standard Employee Option - NSO

    Exercise: $14.48From: 2017-05-02Exp: 2027-05-02→ Common Stock, No Par Value (8,000 underlying)
    8,000
Footnotes (4)
  • [F1]Each restricted stock unit represents a right to receive one share of Issuer common stock.
  • [F2]The restricted stock units vest in three equal installments commencing May 2, 2024, the first anniversary of the holder's grant date.
  • [F3]Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
  • [F4]The PRSUs will vest depending upon the Issuer's Return on Average Tangible Common Equity ("ROATCE") over a three-year period ("Performance Period"), relative to companies in a peer group selected by the Issuer as of the grant date ("Peer Group"). If the Issuer's ROATCE is at the 35th percentile of the Peer Group at the end of the Performance Period then 50% of the PRSUs will vest. If the Issuer's ROATCE is at the 50th percentile at the end of the Performance Period then 100% of the PRSUs will vest. If the Issuer's ROATCE is at the 75th percentile at the end of the Performance Period then 150% of the PRSUs will vest. Vesting between performance levels will be determined by straight-line interpolation. None of the PRSUs will vest if the Issuer's ROATCE does not exceed the 35th threshold of the Peer Group.

Documents

1 file

Issuer

HERITAGE COMMERCE CORP

CIK 0001053352

→
Entity typeother

Related Parties

1
  • filerCIK 0001710045

Filing Metadata

Form type
4
Filed
May 3, 8:00 PM ET
Accepted
May 4, 5:01 PM ET
Size
11.6 KB
View on SEC.gov