Chalfant Tony 4

What Happened
Tony Chalfant, EVP & Chief Credit Officer of Heritage Financial Corp (HFWA), received two equity awards on 2026-02-25: a PSU grant and an RSU grant. Each award covers 2,757 units at a reported reference price of $27.54, listed as derivative acquisitions and valued at $75,928 apiece (combined ~5,514 units / $151,856). These are grants (award/acquisition code "A") — not open-market purchases or sales — and represent potential future shares subject to vesting and (for PSUs) performance conditions.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 27, 2026 (appears filed within the required 2-business-day window).
• Award details:
  • PSU grant: 2,757 units, $27.54 reference, $75,928 (footnote F1, F3). Vesting: 3-year cliff vesting on March 15, 2029 (F3).
  • RSU grant: 2,757 units, $27.54 reference, $75,928 (footnote F4, F5). Vesting: 3-year ratable vesting, final vesting March 15, 2029 (F5).
• Insider payment: footnote F2 indicates $0.00 — awards were granted without cash payment.
• Shares owned after transaction: not specified in the provided Form 4 excerpt.
• Transaction type: A = Award/Grant (derivative securities). Not a sale or open-market buy.

Context
PSUs (performance stock units) and RSUs (restricted stock units) are common executive compensation tools: RSUs vest over time, while PSUs vest only if performance goals are met. Because these are awards that vest in the future, they do not represent immediately tradable shares. Such grants are routine for executive compensation and are informative about company retention/incentive practices but do not alone indicate near-term buying or selling intent.