Chalfant Tony 4

4 · HERITAGE FINANCIAL CORP /WA/ · Filed Mar 18, 2026

AI-generated summary of this filing

Updated Mar 18, 2026

Heritage Financial (HFWA) EVP Tony Chalfant Exercises 3,128 Shares

What Happened

Tony Chalfant, EVP & Chief Credit Officer of Heritage Financial Corp. (HFWA), exercised stock-derived awards on 2026-03-16. He acquired a total of 3,128 shares at an exercise/conversion price of $24.89 per share, for a gross value of $77,856.
To cover tax withholding/obligations, 583 shares were surrendered (disposed) at the same $24.89 price, valued at $14,511. Net new shares added to his beneficial ownership were 2,545 shares (3,128 acquired minus 583 withheld).
Transaction codes: M = exercise/conversion of derivative (options/units); F = payment of exercise price/tax withholding.

Key Details

Transaction date: March 16, 2026; Form 4 filed March 18, 2026 (appears timely).
Exercise price: $24.89 per share.
Gross shares acquired: 3,128 (total value reported $77,856).
Shares withheld for taxes: 583 (value reported $14,511).
Net shares retained: 2,545.
Shares owned after transaction: Not specified in the provided excerpt of the filing.
Relevant footnotes in the filing reference prior RSU/PSU awards and standard vesting schedules (grants under 2023–2025 Omnibus Equity Plans; some awards vest over three years or are performance-contingent).

Context

This was an exercise/conversion of derivative awards (M). The filing shows both acquisition of shares and corresponding dispositions of the derivative instruments — a standard reporting pattern when options/units are exercised and converted into shares.
The surrender of 583 shares to cover taxes is a common practice (not an open-market sale) and does not necessarily indicate a bearish view; it is a routine tax-withholding action.
For retail investors: exercises increase an insider’s outright share count (here, net +2,545 shares), which can be more informative than routine sales.

Form 4

Period: 2026-03-16

EVP Chief Credit Officer

Transactions

Exercise/Conversion
Common Stock
2026-03-16$24.89/sh+1,227$30,540→ 21,097 total
Exercise/Conversion
Common Stock
2026-03-16$24.89/sh+733$18,244→ 21,830 total
Exercise/Conversion
Common Stock
2026-03-16$24.89/sh+176$4,381→ 22,006 total
Exercise/Conversion
Common Stock
2026-03-16$24.89/sh+992$24,691→ 22,998 total
Tax Payment
Common Stock
2026-03-16$24.89/sh−583$14,511→ 22,415 total
Exercise/Conversion
Restricted Stock Units
[F1][F2]
2026-03-16$24.89/sh−1,227$30,540→ 1,228 total
Exercise: $0.00From: 2025-03-15Exp: 2027-03-15→ Common Stock (1,227 underlying)
Exercise/Conversion
Restricted Stock Units
2026-03-16$24.89/sh−733$18,244→ 0 total
Exercise: $0.00From: 2024-03-15Exp: 2026-03-15→ Common Stock (733 underlying)
Exercise/Conversion
Performance Share Units
[F3][F4]
2026-03-16$24.89/sh−176$4,381→ 0 total
Exercise: $0.00From: 2028-03-15Exp: 2028-03-15→ Common Stock (176 underlying)
Exercise/Conversion
Restricted Stock Units
[F5][F6]
2026-03-16$24.89/sh−992$24,691→ 1,985 total
Exercise: $0.00From: 2026-03-15Exp: 2028-03-15→ Common Stock (992 underlying)

Footnotes (6)

[F1]RSU Grant February 2024
[F2]Represents award pursuant to 2024 Omnibus Equity Plan; shares vest one third per year over a three year period. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting.
[F3]PSU 2025
[F4]Represents stock performance unit granted pursuant to the 2023 Omnibus Equity Plan. Units vest after three years contingent on meeting performance metrics.
[F5]RSU Grant February 2025
[F6]Represents award pursuant to 2023 Omnibus Equity Plan; shares vest one third per year over a three year period. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting.

Signature

/s/ Kaylene Lahn Attorney in Fact for Tony Chalfant|2026-03-18

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