Fallon Thomas J 4

What Happened
Thomas J. Fallon, a director of Hercules Capital, purchased 7,300 shares of Hercules Capital, Inc. (HTGC) on March 26, 2026, at $14.30 per share, for a total value of $104,390. This transaction is recorded as a purchase (code P) and reflects acquisition of stock rather than a sale.

Key Details

• Transaction date: 2026-03-26; filing date: 2026-03-30 (filed timely).
• Price: $14.30 per share; total reported value: $104,390.
• Shares acquired: 7,300.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: (F1) Shares were purchased based on the reporting person’s election to receive stock in lieu of cash director fees; (F2) shares are held by the Fallon Family Revocable Trust; (F3) the reported number includes shares from the company’s dividend reinvestment plan (DRIP), which is exempt under Rule 16a-11.
• Transaction type: Purchase via director compensation election (not an open-market speculative buy).

Context
This was an acquisition tied to a director’s election to receive equity instead of cash compensation, and some shares reflect dividend reinvestment. While insider purchases can be viewed positively, this type of transaction is routine compensation-related activity rather than a discretionary open-market investment decision.