Ray Matthew T. 4

What Happened

• Ray Matthew, Executive Vice President & Chief Lending Officer of Heritage Financial Corp. (HFWA), was granted equity awards on 2026-02-25: two derivative awards of 2,755 shares each (total 5,510 shares) reported at $27.54 per share. Each 2,755-share award is reported with a value of $75,873, for a combined reported value of approximately $151,746. These were awards/grants (PSUs and RSUs), not open-market purchases or sales.

Key Details

• Transaction date and price: 2026-02-25 at $27.54 per share (two awards of 2,755 shares).
• Total awarded: 5,510 shares; combined reported value ≈ $151,746.
• Shares owned after transaction: not specified in the supplied filing details.
• Footnotes: F1 = PSU Grants 2026; F3 = PSU grant has 3-year cliff vesting (03/15/2029); F4 = RSU Grant 2026; F5 = RSU vests ratably over 3 years with final vesting on 03/15/2029; F2 shows $0.00 (as noted in the filing).
• Filing timeliness: Report filed 2026-02-27 for a 2026-02-25 transaction — appears to be filed within the standard Form 4 timeframe (timely).

Context

• These awards are derivative equity grants (performance stock units and restricted stock units) subject to vesting schedules: PSUs cliff-vest on 03/15/2029, RSUs vest ratably with final vesting on 03/15/2029. Such grants are compensation-related awards and do not represent an immediate cash purchase or sale of shares.