Director Gayle A. Crowell buys Hercules Capital (HTGC) stock

Rhea-AI Filing Summary

Hercules Capital, Inc. director Gayle A. Crowell reported an open-market purchase of common stock. On February 23, 2026, Crowell bought 6,600 shares at a price of $15.20 per share. After this transaction, Crowell directly owned 87,458 shares of Hercules Capital common stock. The reported ownership total includes shares previously acquired through the company’s dividend reinvestment plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CROWELL GAYLE A

(Last) (First) (Middle)

C/O HERCULES CAPITAL, INC.

1 NORTH B STREET, SUITE 2000

(Street)

SAN MATEO CA 94401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hercules Capital, Inc. [ HTGC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/23/2026		P		6,600	A	$15.2	87,458(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The number of shares includes shares acquired pursuant to the Hercules Capital, Inc. dividend reinvestment plan, exempt under Rule 16a-11.

Remarks:

	/s /Kiersten Zaza Botelho, Attorney-in-Fact for Gayle Crowell	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did Hercules Capital (HTGC) report for Gayle A. Crowell?

Hercules Capital director Gayle A. Crowell reported buying 6,600 shares of common stock. The transaction was an open-market purchase at $15.20 per share, increasing Crowell’s directly owned stake to 87,458 shares, including shares obtained via the company’s dividend reinvestment plan.

How many Hercules Capital shares did Gayle A. Crowell buy in this Form 4 filing?

Gayle A. Crowell bought 6,600 shares of Hercules Capital common stock. The purchase was executed in the open market at a price of $15.20 per share, as disclosed, and reflects a net addition to Crowell’s directly held position in the company.

What price did Gayle A. Crowell pay per Hercules Capital share in the reported trade?

Crowell paid $15.20 per share for Hercules Capital common stock in this transaction. The filing describes it as an open-market purchase of 6,600 shares, contributing to a total direct ownership of 87,458 shares after the trade was completed.

What is Gayle A. Crowell’s total Hercules Capital share ownership after this transaction?

Following the reported purchase, Crowell directly owns 87,458 Hercules Capital shares. This figure, disclosed in the filing, includes shares acquired through the company’s dividend reinvestment plan, in addition to shares bought in the open market transaction on February 23, 2026.

Does the Hercules Capital Form 4 include dividend reinvestment plan shares for Gayle A. Crowell?

Yes. The filing states that Crowell’s reported share count includes shares acquired under Hercules Capital’s dividend reinvestment plan. These plan shares are exempt under Rule 16a-11 and are part of the 87,458 directly owned shares disclosed after the transaction.

Was Gayle A. Crowell’s Hercules Capital trade a buy or a sell?

The transaction was a buy. Specifically, the Form 4 describes an open-market purchase of 6,600 Hercules Capital common shares at $15.20 per share, increasing Crowell’s directly held ownership position in the company to a total of 87,458 shares afterward.