Was the Hercules Capital (HCXY) share acquisition part of director compensation?

Yes. A footnote explains the 7,317 shares were purchased based on the director’s election to receive stock instead of a cash compensation fee otherwise payable for his service on the board.

Hercules Capital (NASDAQ: HCXY) director takes fees in stock

Q: What did Hercules Capital (HCXY) director Nikos Theodosopoulos report in this Form 4?

Director Nikos Theodosopoulos reported acquiring 7,317 shares of Hercules Capital common stock at an average price of $14.35 . Following this transaction, he directly holds 29,362 shares , including shares from the company’s dividend reinvestment plan.

Q: Was the Hercules Capital (HCXY) Form 4 transaction an open-market purchase?

Yes, the filing classifies the transaction as an open-market purchase of 7,317 shares at an average price of $14.35 . However, a footnote explains the shares were received in lieu of a cash director compensation fee.

Q: How were the purchase prices for the Hercules Capital (HCXY) shares determined?

The reported $14.35 per-share price is an average purchase price . A footnote states the 7,317 shares were bought in a price range between $14.31 and $14.39 per share.

Filing Impact

(Moderate)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Hercules Capital, Inc. director Nikos Theodosopoulos reported an open-market purchase of 7,317 shares of common stock on March 26, 2026 at an average price of $14.35 per share. After this transaction, he directly owns 29,362 shares.

According to the footnotes, these shares were acquired based on his election to receive stock instead of a cash director compensation fee, and the reported price reflects an average of trades between $14.31 and $14.39. His total share count also includes shares obtained through the company’s dividend reinvestment plan.

Insider Trade Summary

Net Buyer: 7,317 shares ($104,999)

Net Buy 1 txn

Insider Theodosopoulos Nikos

Role Director

Bought 7,317 shs ($105K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	7,317	$14.35	$105K

Holdings After Transaction: Common Stock — 29,362 shares (Direct)

Footnotes (1)

Shares purchased based on reporting person's election to receive stock in lieu of cash compensation fee otherwise due to reporting person as a director of the Issuer. Average purchase price. Shares purchased at prices between $14.31 and $14.39. The number of shares includes shares acquired pursuant to the Hercules Capital, Inc. dividend reinvestment plan, exempt under Rule 16a-11.

Key Figures

Shares purchased: 7,317 shares Average purchase price: $14.35 per share Price range: $14.31–$14.39 per share +1 more

4 metrics

Shares purchased 7,317 shares Open-market purchase on March 26, 2026

Average purchase price $14.35 per share Average of trades between $14.31 and $14.39

Price range $14.31–$14.39 per share Range of prices for purchased shares

Shares owned after transaction 29,362 shares Direct holdings after the reported purchase

Key Terms

open-market purchase, dividend reinvestment plan, Rule 16a-11, cash compensation fee

4 terms

open-market purchase financial

"reported an open-market purchase of 7,317 shares of common stock"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

dividend reinvestment plan financial

"includes shares acquired pursuant to the Hercules Capital, Inc. dividend reinvestment plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Rule 16a-11 regulatory

"dividend reinvestment plan, exempt under Rule 16a-11"

cash compensation fee financial

"receive stock in lieu of cash compensation fee otherwise due"

Form 4 Insider Transactions: What Each Field Means →

03/30/2026 - 03:37 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Theodosopoulos Nikos

(Last)

(First)

(Middle)

C/O HERCULES CAPITAL, INC.

1 NORTH B STREET, SUITE 2000

(Street)

SAN MATEO

CALIFORNIA

94401

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/26/2026		P		7,317⁽¹⁾	A	$14.35⁽²⁾	29,362⁽³⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Shares purchased based on reporting person's election to receive stock in lieu of cash compensation fee otherwise due to reporting person as a director of the Issuer.

2. Average purchase price. Shares purchased at prices between $14.31 and $14.39.

3. 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 Nikos Theodosopoulos	03/30/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Hercules Capital (HCXY) director Nikos Theodosopoulos report in this Form 4?

Director Nikos Theodosopoulos reported acquiring 7,317 shares of Hercules Capital common stock at an average price of $14.35. Following this transaction, he directly holds 29,362 shares, including shares from the company’s dividend reinvestment plan.

Was the Hercules Capital (HCXY) Form 4 transaction an open-market purchase?

Yes, the filing classifies the transaction as an open-market purchase of 7,317 shares at an average price of $14.35. However, a footnote explains the shares were received in lieu of a cash director compensation fee.

How were the purchase prices for the Hercules Capital (HCXY) shares determined?

The reported $14.35 per-share price is an average purchase price. A footnote states the 7,317 shares were bought in a price range between $14.31 and $14.39 per share.

How many Hercules Capital (HCXY) shares does the director own after this transaction?

After this transaction, director Nikos Theodosopoulos directly owns 29,362 shares of Hercules Capital common stock. This total includes shares acquired through the company’s dividend reinvestment plan, as noted in the footnotes.