4/A//SEC Filing
Jones Robertson Clay JR 4/A
Accession 0001593968-25-000415
CIK 0001053352other
Filed
Mar 25, 8:00 PM ET
Accepted
Mar 26, 7:30 PM ET
Size
16.4 KB
Accession
0001593968-25-000415
Insider Transaction Report
Form 4/AAmended
Jones Robertson Clay JR
DirectorPresident and CEO
Transactions
- Sale
Common Stock, No Par Value
2025-03-10$9.73/sh−5,145$50,063→ 254,227 total - Exercise/Conversion
Restricted Stock Unit
2025-03-08−13,212→ 26,424 totalExercise: $0.00From: 2025-03-08Exp: 2027-03-08→ Common Stock, No Par Value (13,212 underlying) - Award
Restricted Stock Unit
2025-03-10+29,691→ 29,691 totalExercise: $0.00From: 2026-03-10Exp: 2028-03-10→ Common Stock, No Par Value (29,691 underlying) - 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
Performance-Based Restricted Stock Unit
2025-03-10+29,690→ 29,690 totalExercise: $0.00From: 2028-03-10Exp: 2028-03-10→ Common Stock, No Par Value (29,690 underlying)
Footnotes (7)
- [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, or RSUs grant.
- [F2]The RSUs vest in three equal installments commencing on March 8, 2025, the first anniversary of the holders' grant date. The remaining RSUs will vest in two equal installments commencing on 3/8/2026.
- [F3]Each RSU represents a right to receive one share of Issuer common stock.
- [F4]The RSUs vest in three equal installments commencing March 10, 2026, the first anniversary of the holder's grant date.
- [F5]On March 11, 2025, the reporting person filed a Form 4 which reported awards by the Company for a certain number of RSUs and PRSUs. This amendment reflects a correction by the Company and the reporting person to the number of PRSUs and RSUs granted in each respective award.
- [F6]Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
- [F7]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 0001788938
Filing Metadata
- Form type
- 4/A
- Filed
- Mar 25, 8:00 PM ET
- Accepted
- Mar 26, 7:30 PM ET
- Size
- 16.4 KB