BADAVAS ROBERT P 4

What Happened
Robert P. Badavas, a director of Hercules Capital, purchased 3,658 shares of HTGC on 2026-03-26. The shares were acquired at an average price of $14.35 for a total value of approximately $52,492. This was a purchase (reporting code P), not a sale.

Key Details

• Transaction date: 2026-03-26; Form 4 filed: 2026-03-30 (filed within the standard reporting window).
• Price: average $14.35; purchases executed between $14.31 and $14.39.
• Shares acquired: 3,658; total transaction value ≈ $52,492.
• Holdings after transaction: not disclosed in the provided filing.
• Footnotes: F1 — shares were received in lieu of cash director compensation; F2 — shows the price range and average; F3 — shares are held by the Robert P. Badavas Trust of 2007.
• Transaction type: P = Purchase (open market/private purchase as reported).

Context
This purchase resulted from Badavas electing to receive stock instead of cash director fees, a common form of compensation for directors and not an immediate cash investment decision. Such purchases can be informative, but they reflect compensation election rather than a discretionary market buy. The shares are held in a trust named in the filing.