Bley Nicholas M 4

What Happened

• Nicholas M. Bley, COO of Heritage Financial Corp. (HFWA), received two equity awards on 2026-02-25: one RSU grant and one PSU grant. Each award covered 3,021 units at a grant value of $27.54 per unit, reported as $83,198 each — a combined grant value of approximately $166,396.
• These were grant/acquisition entries (derivative awards), not open-market purchases or sales; they represent compensation awards rather than immediate share purchases.

Key Details

• Transaction date: 2026-02-25; Form 4 filed: 2026-02-27 (file appears timely).
• Price used for valuation: $27.54 per unit; each award = 3,021 units / $83,198; total = 6,042 units / ~$166,396.
• Vesting: RSUs (footnote F1/F3) vest ratably over 3 years with final vesting on March 15, 2029; PSUs (footnote F4/F5) cliff-vest after 3 years (03/15/2029) and are typically performance-contingent.
• Filing does not list aggregate shares owned after the grants in the provided lines.
• Footnote F2 lists $0.00 (as reported); no tax-withholding or cash payment details are shown in the provided excerpt.

Context

• RSUs are time-based restricted units that become actual shares as they vest; PSUs are performance-based and only convert to shares if performance goals are met at vesting — both are "derivative" until vested and may be forfeitable.
• These types of grants are standard executive compensation and do not by themselves indicate immediate buying or selling sentiment in the market.