Earnings Feed
Start Free
Home/Filings/4/0001127602-24-009642
4//SEC Filing

Reuter Deborah 4

Accession 0001127602-24-009642

CIK 0001053352other
View on SEC.govCompany Profile

Filed

Mar 11, 8:00 PM ET

Accepted

Mar 12, 2:12 PM ET

Size

11.7 KB

Accession

0001127602-24-009642

Insider Transaction Report

Form 4
Period: 2024-03-08
HERITAGE COMMERCE CORPHTBK
Reuter Deborah
EVP/CRO/Corporate Secretary
Transactions
  • Award

    Performance-Based Restricted Stock Unit

    2024-03-08+12,766→ 12,766 total
    Exercise: $0.00From: 2027-03-08Exp: 2027-03-08→ Common Stock, No Par Value (12,766 underlying)
  • Award

    Restricted Stock Unit

    2024-03-08+12,766→ 12,766 total
    Exercise: $0.00From: 2025-03-08Exp: 2027-03-08→ Common Stock, No Par Value (12,766 underlying)
Holdings

  • Performance-Based Restricted Stock Unit

    Exercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,578 underlying)
    10,578

  • Common Stock, No Par Value

    81,906

  • Restricted Stock Unit

    Exercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,579 underlying)
    10,579
Footnotes (4)
  • [F1]Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
  • [F2]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.
  • [F3]Each restricted stock unit represents a right to receive one share of Issuer common stock.
  • [F4]The restricted stock units vest in three equal installments commencing March 8, 2025, the first anniversary of the holder's grant date.

Documents

1 file

Issuer

HERITAGE COMMERCE CORP

CIK 0001053352

→
Entity typeother

Related Parties

1
  • filerCIK 0001920301

Filing Metadata

Form type
4
Filed
Mar 11, 8:00 PM ET
Accepted
Mar 12, 2:12 PM ET
Size
11.7 KB
View on SEC.gov