4//SEC Filing
Edmonds-Waters Christopher 4
Accession 0001593968-25-000725
CIK 0001053352other
Filed
Jun 2, 8:00 PM ET
Accepted
Jun 3, 8:16 PM ET
Size
20.6 KB
Accession
0001593968-25-000725
Insider Transaction Report
Form 4
Edmonds-Waters Christopher
EVP/People & Culture Officer
Transactions
- Exercise/Conversion
Common Stock, No Par Value
2025-05-31+10,000→ 10,000 total - Exercise/Conversion
Restricted Stock Unit
2025-05-31−10,000→ 20,000 totalExercise: $0.00From: 2025-05-31Exp: 2027-05-31→ Common Stock, No Par Value (10,000 underlying) - Award
Restricted Stock Unit
2025-03-10+8,388→ 8,388 totalExercise: $0.00From: 2026-03-10Exp: 2028-03-10→ Common Stock, No Par Value (8,388 underlying) - Discretionary Transaction
Common Stock, No Par Value
2025-06-02$9.15/sh−325$2,974→ 6,704 total - Discretionary Transaction
Common Stock, No Par Value
2025-06-02$9.14/sh−3,500$31,990→ 7,029 total - Award
Common Stock, No Par Value
2025-05-31+529→ 10,529 total - Award
Performance-Based Restricted Stock Unit
2025-03-10+8,388→ 8,388 totalExercise: $0.00From: 2028-03-10Exp: 2028-03-10→ Common Stock, No Par Value (8,388 underlying)
Footnotes (7)
- [F1]The reporting person acquired 529 shares of the Company's Common Stock as a result of the stock dividends payable to the reporting person upon the partial vesting of the Restricted Stock Units, or RSU's grant.
- [F2]Represents shares sold to cover withholding taxes associated with the vesting of an award.
- [F3]The RSU's vest annually in three equal installments on May 31st, 2025, the first anniversary of the holders' grant date. The remaining Restricted Stock Units will vest in two equal installments commencing on 5/31/2026
- [F4]Each restricted stock unit represents a right to receive one share of Issuer common stock.
- [F5]The restricted stock units vest in three equal installments commencing March 10, 2026, the first anniversary of the holder's grant date.
- [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.
Issuer
HERITAGE COMMERCE CORP
CIK 0001053352
Entity typeother
Related Parties
1- filerCIK 0001421898
Filing Metadata
- Form type
- 4
- Filed
- Jun 2, 8:00 PM ET
- Accepted
- Jun 3, 8:16 PM ET
- Size
- 20.6 KB