Sabnani Janisha 4

What Happened

• Janisha Sabnani, EVP, General Counsel and Corporate Secretary of Heritage Commerce Corp (HTBK), had restricted stock units (RSUs) convert into common shares on Feb 27, 2026. 4,761 RSUs converted one-for-one into shares, and she received 238 additional shares as a stock dividend tied to the partial vesting.
• To cover tax withholding on the vesting, 2,058 shares were surrendered/withheld at $12.43 per share, resulting in cash withheld of $25,581. The transaction entries reflect the RSU conversion/award (codes M and A) and the tax-withholding disposal (code F).

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 3, 2026 (timely filing).
• Shares involved: 4,761 RSUs converted; 238 shares received as stock dividend; 2,058 shares withheld for taxes.
• Withholding price/value: $12.43 per share; total tax withholding value $25,581.
• Footnotes: RSUs convert one-for-one into common stock (F1); 238 shares from stock dividend on partial vesting (F2); shares were withheld to satisfy tax withholding obligations, exempt under Rule 16b-3 (F3); RSUs vest in three equal annual tranches starting Feb 27, 2026 (F4).
• Shares owned after the transaction: not specified in the filing.

Context

• This was a routine vesting of RSUs (grant/award conversion) with shares withheld to meet tax obligations — not an open-market sale or a separate discretionary sale by the insider. For derivative entries: the “exercise/conversion” here refers to RSUs converting into common shares rather than exercising stock options for cash. Routine tax-withholding disposals are common and do not necessarily indicate a change in the insider’s market view.