Jones Robertson Clay JR 4

Accession 0001593968-25-000343

CIK 0001053352other

View on SEC.gov Company Profile

Filed

Mar 10, 8:00 PM ET

Accepted

Mar 11, 6:41 PM ET

Size

22.2 KB

Accession

0001593968-25-000343

Insider Transaction Report

Form 4

Period: 2025-03-08

HERITAGE COMMERCE CORPHTBK

Jones Robertson Clay JR

DirectorPresident and CEO

Transactions

Exercise/Conversion
Restricted Stock Unit
2025-03-08−13,212→ 26,424 total
Exercise: $0.00From: 2025-03-08Exp: 2027-03-08→ Common Stock, No Par Value (13,212 underlying)
Award
Performance-Based Restricted Stock Unit
2025-03-10+28,456→ 28,456 total
Exercise: $0.00From: 2028-03-10Exp: 2028-03-10→ Common Stock, No Par Value (28,456 underlying)
Sale
Common Stock, No Par Value
2025-03-10$9.73/sh−5,145$50,063→ 254,227 total
Exercise/Conversion
Common Stock, No Par Value
2025-03-08+13,212→ 258,651 total
Award
Common Stock, No Par Value
2025-03-08+721→ 259,372 total
Award
Restricted Stock Unit
2025-03-10+28,546→ 28,546 total
Exercise: $0.00From: 2026-03-10Exp: 2028-03-10→ Common Stock, No Par Value (28,546 underlying)

Holdings

Employee Stock Option (right to buy)
Exercise: $10.74From: 2019-10-11Exp: 2028-07-01→ Heritage Commerce Corp - Common Stock (16,390 underlying)
16,390
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2027-03-08Exp: 2027-03-08→ Common Stock, No Par Value (39,635 underlying)
39,635
Restricted Stock Unit
Exercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (20,985 underlying)
20,985
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (31,477 underlying)
31,477
Employee Stock Option (right to buy)
Exercise: $10.74From: 2019-10-11Exp: 2028-07-01→ Heritage Commerce Corp - Common Stock (33,009 underlying)
33,009

Footnotes (6)

[F1]The reporting person acquired 721 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 3/8/2026.
[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

1 file

4
primary_01.xmlPrimary
PRIMARY DOCUMENT

Issuer

HERITAGE COMMERCE CORP

CIK 0001053352

→

Entity typeother

Related Parties

filerCIK 0001788938

Filing Metadata

Form type: 4
Filed: Mar 10, 8:00 PM ET
Accepted: Mar 11, 6:41 PM ET
Size: 22.2 KB

View on SEC.gov