HTGC CEO reports tax-withholding on RSU vesting; owns 2,257,528 shares

Rhea-AI Filing Summary

Hercules Capital (HTGC) reported an insider transaction by its Chief Executive Officer. On October 9, 2025, 10,652 shares of common stock were withheld at $17.06 per share to cover taxes due upon the vesting of restricted stock, coded “F.” After this administrative transaction, the reporting person beneficially owns 2,257,528 shares directly.

This Form 4 reflects tax withholding related to equity compensation and does not represent an open‑market purchase or sale.

Insider Trade Summary

Net Seller: 10,652 shares

Net Sell 1 txn

Insider Bluestein Scott

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	10,652	$17.06	$182K

Holdings After Transaction: Common Stock — 2,257,528 shares (Direct)

Footnotes (1)

1. F1. Represents shares of common stock withheld to pay taxes applicable to the vesting of restricted stock on October 9, 2025.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 10/14/2025 - 05:34 PM Learn about SEC filing dates

FAQ

What did HTGC disclose in this Form 4?

Shares were withheld to cover taxes on vested restricted stock, coded “F.”

How many HTGC shares were withheld for taxes?

10,652 shares of common stock.

At what price were the withheld HTGC shares valued?

$17.06 per share.

When did the HTGC transaction occur?

On October 9, 2025.

How many HTGC shares does the CEO own after the transaction?

2,257,528 shares, held directly.

Who is the reporting person and role at HTGC?

The Chief Executive Officer, as indicated in the filing.

What was the reason for the HTGC share withholding?

To pay taxes applicable to the vesting of restricted stock.

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).

1. Name and Address of Reporting Person^*

Bluestein Scott

(Last) (First) (Middle)

C/O HERCULES CAPITAL, INC.

31 ST. JAMES AVENUE, SUITE 1005

(Street)

BOSTON MA 02116

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/09/2025

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	10/09/2025		F		10,652(1)	D	$17.06	2,257,528	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. Represents shares of common stock withheld to pay taxes applicable to the vesting of restricted stock on October 9, 2025.

Remarks:

	/s/ Eileen Bagarella, Attorney-in-fact for Scott Bluestein	10/14/2025
	** 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.