4//SEC Filing
Just Susan Svensson 4
Accession 0001593968-25-000341
CIK 0001053352other
Filed
Mar 10, 8:00 PM ET
Accepted
Mar 11, 6:39 PM ET
Size
17.2 KB
Accession
0001593968-25-000341
Insider Transaction Report
Form 4
Just Susan Svensson
EVP/Chief Credit Officer
Transactions
- Award
Common Stock, No Par Value
2025-03-08+223→ 12,376 total - Award
Restricted Stock Unit
2025-03-10+8,432→ 8,432 totalExercise: $0.00From: 2026-03-10Exp: 2028-03-10→ Common Stock, No Par Value (8,432 underlying) - Exercise/Conversion
Common Stock, No Par Value
2025-03-08+4,153→ 12,153 total - Award
Performance-Based Restricted Stock Unit
2025-03-10+8,431→ 8,431 totalExercise: $0.00From: 2028-03-10Exp: 2028-03-10→ Common Stock, No Par Value (8,431 underlying) - Exercise/Conversion
Restricted Stock Unit
2025-03-08−4,153→ 8,306 totalExercise: $0.00From: 2025-03-08Exp: 2027-03-08→ Common Stock, No Par Value (4,153 underlying) - Sale
Common Stock, No Par Value
2025-03-10$9.73/sh−1,602$15,588→ 10,774 total
Holdings
- 12,458
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2027-03-08Exp: 2027-03-08→ Common Stock, No Par Value (12,458 underlying)
Footnotes (6)
- [F1]The reporting person acquired 223 shares of the Company's Common Stock as a result of stock dividends payable to the reporting person upon the partial vesting of the Restricted Stock Units grant.
- [F2]The Restricted Stock Units vest in three equal installments commencing on March 8, 2025, the first anniversary of the holders' grant date. The remaining Restricted Stock Units will vest in two equal installments commencing on March 8, 2026.
- [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 10, 2026, the first anniversary of the holder's grant date.
- [F5]Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
- [F6]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.
Documents
Issuer
HERITAGE COMMERCE CORP
CIK 0001053352
Entity typeother
Related Parties
1- filerCIK 0001993124
Filing Metadata
- Form type
- 4
- Filed
- Mar 10, 8:00 PM ET
- Accepted
- Mar 11, 6:39 PM ET
- Size
- 17.2 KB