Glasby William 4

What Happened
William Glasby, EVP & Chief Information Officer of Heritage Financial Corp (HFWA), exercised stock options on July 17, 2026 to acquire a total of 12,815 shares at an exercise price of $30.52 per share (total cost ≈ $391,114). The same day those 12,815 shares were disposed (consistent with a same-day/cashless settlement), and an additional 3,379 shares were surrendered to cover the exercise price/tax liability (value ≈ $103,127). The combined value of shares involved in the transactions is about $494,241.

Key Details

• Transaction date: July 17, 2026; Form 4 filed July 20, 2026 (timely filing).
• Exercise details: 12,815 shares exercised at $30.52 each (total ≈ $391,114).
• Withholding/payment: 3,379 shares surrendered to cover exercise price/taxes (≈ $103,127).
• Disposals: The exercised 12,815 shares were immediately disposed (listed as derivative disposals), consistent with a cashless or same-day sale/settlement.
• Transaction codes: M = option exercise; F = payment of exercise price/tax withholding.
• Footnotes on the filing reference various RSU grants and vesting schedules (2023–2026 omnibus plans; typical 3-year ratable vesting noted).
• Shares owned after the transactions were not provided in the summary data supplied.

Context

• This pattern (exercise + immediate disposition + withholding for taxes) is common when insiders do a cashless exercise or use shares to cover taxes and fees; it does not necessarily signal a view on the company’s prospects.
• For retail investors, outright purchases (buys) are typically more informative than routine exercises followed by sales or withholdings. This filing documents option exercise and settlement activity, not an open-market purchase.