Watson Ann 4

What Happened

• Ann Watson, a director of Heritage Financial Corp (HFWA), exercised stock-derived rights on 2026-05-01 for 2,218 shares at an exercise price of $27.61 per share, valued at $61,239. The filing also shows a contemporaneous disposition of the same 2,218 shares (same price/value).
• The transactions are coded as derivative exercises (code M). The filing does not explicitly state whether shares were sold on the open market or surrendered to cover exercise costs or tax withholding.

Key Details

• Transaction date: 2026-05-01; exercise/disposition price: $27.61; shares involved: 2,218; transaction value shown: $61,239 (for each leg).
• Transaction type/code: M = option exercise/conversion (derivative).
• Filing date (SEC accession): 2026-05-04 reporting the 2026-05-01 activity. The provided filing does not indicate a late filing flag.
• Shares owned following the reported transactions: not specified in the provided filing details.
• No footnotes or 10b5-1 plan information included in the supplied data.

Context

• When an insider exercises options and the same shares are listed as disposed the same day, it often reflects a cashless exercise or shares sold to cover the exercise price/taxes; the Form 4 here shows both legs but does not state the exact mechanism.
• Such routine option exercises with immediate disposition are common and don't necessarily signal a change in company outlook. Purchases (direct cash buys) are generally more informative about insider conviction.