BADAVAS ROBERT P 4

What Happened

• Robert P. Badavas, a director of Hercules Capital, Inc. (HTGC), was issued 3,873 restricted shares on 2026-06-18. The reported per-share value was $15.49, for a total grant value of $59,993. This filing reflects an award/grant (code A) rather than an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-06-18 at $15.49 per share.
• Total reported value: $59,993 (3,873 shares).
• Shares owned after transaction: Not disclosed on this Form 4.
• Footnotes: Shares are held by the Robert P. Badavas Trust of 2007 (F1). The shares are restricted stock issued automatically upon re-election under the 2026 Non-Employee Director Plan and are subject to forfeiture; one-third vests on each anniversary over three years (F2).
• Filing timeliness: Form filed 2026-06-23 (appears to be filed after the typical two-business-day window following the transaction).

Context

• This was a compensatory award tied to board re-election, a routine non-market transaction that vests over time and is subject to forfeiture — not an immediate cash purchase or sale. Such grants are standard for non-employee directors and do not by themselves indicate insider buying or selling sentiment.