4//SEC Filing
Peng Coonley Janice Yuli 4
Accession 0001127602-23-014524
CIK 0001053352other
Filed
May 3, 8:00 PM ET
Accepted
May 4, 5:04 PM ET
Size
9.1 KB
Accession
0001127602-23-014524
Insider Transaction Report
Form 4
Peng Coonley Janice Yuli
EVP/Chief People and Diversity
Transactions
- Award
Restricted Stock Unit
2023-05-02+9,123→ 9,123 totalExercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (9,123 underlying) - Award
Performance-Based Restricted Stock Unit
2023-05-02+9,122→ 9,122 totalExercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (9,122 underlying)
Holdings
- 12,000
Common Stock, No Par Value
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
Issuer
HERITAGE COMMERCE CORP
CIK 0001053352
Entity typeother
Related Parties
1- filerCIK 0001939309
Filing Metadata
- Form type
- 4
- Filed
- May 3, 8:00 PM ET
- Accepted
- May 4, 5:04 PM ET
- Size
- 9.1 KB