CHARNESKI BRIAN 4

What Happened

• Brian Charneski, a director of Heritage Financial Corp. (HFWA), exercised or converted options (transaction code M) for 2,218 shares at an exercise price of $27.61 per share, totaling $61,239. The filing also reports a simultaneous disposition of the same 2,218 shares in connection with the exercise.

Key Details

• Transaction date: 2026-05-01; Form 4 filed: 2026-05-04 (appears timely).
• Exercise price / reported value: $27.61 per share; total $61,239.
• Shares involved: 2,218 acquired by exercise and 2,218 disposed (derivative conversion).
• Shares owned after the transaction: Not specified in the provided filing.
• Notable footnote: Both entries are coded M (exercise/conversion of a derivative). The simultaneous acquisition and disposition are reported on the Form 4; the filing does not specify whether shares were sold in the market or withheld to cover exercise costs/taxes.

Context

• Transaction code M indicates an option exercise or conversion of a derivative. When the same number of shares are reported as acquired and disposed on the same day, it commonly reflects a cashless exercise, net settlement, or withholding to satisfy exercise price/taxes — a routine administrative outcome rather than a clear directional bet. This filing shows no clear net purchase or sale of shares by the insider.