Farquhar John C.M. 4

What Happened
John C.M. Farquhar, CEO of Heartflow, sold 12,837 shares of HTFL on March 10, 2026 at $22.66 per share for proceeds of $290,886. He also acquired 2,631 shares on March 6, 2026 under the company’s Employee Stock Purchase Plan (ESPP) at $16.15 per share, costing $42,491. Net, Farquhar disposed of 10,206 more shares than he acquired, netting roughly $248,395 in proceeds.

Key Details

• Sale: 12,837 shares sold on 2026-03-10 at $22.66 each (total $290,886). Transaction type: open market/private sale (code S).
• Purchase/Award: 2,631 shares acquired on 2026-03-06 at $16.15 each (total $42,491). Transaction type: award/acquisition under ESPP (code A).
• Footnotes: Purchase was under the Issuer’s ESPP and exempt under Rule 16b-3(c) (F1). The March 10 sale was effected pursuant to a pre-established Rule 10b5-1 trading plan adopted by Farquhar on Sep 12, 2025 (F2).
• Shares owned after the transactions: not specified in the provided filing details.
• Filing: Form 4 was filed on 2026-03-12 covering trades on March 6 and March 10; this filing date falls within the typical two-business-day reporting window for Section 16 insiders.

Context

• The March 6 acquisition was through the company’s ESPP (an employee purchase plan), which is a routine, non-discretionary way insiders buy stock.
• The March 10 sale was made under a 10b5-1 plan, meaning it was a prearranged trading instruction rather than an ad hoc decision at the time of sale.
• For retail investors: purchases can be more informative about insider conviction, while sales under 10b5-1 plans are often pre-planned and not necessarily a signal about near-term company prospects.