Hercules Capital grants 10,560 RSUs to Chief Operating Officer

Hercules Capital, Inc. reported an equity compensation grant to a senior executive.

Rhea-AI Filing Summary

Hercules Capital, Inc. reported an equity compensation grant to a senior executive. Chief Operating Officer Christian Follmann received an award of 10,560 restricted stock units on December 4, 2025. Each restricted stock unit gives him the right to receive one share of Hercules Capital common stock in the future. The award is scheduled to vest 100% on December 4, 2032, meaning all units become payable on that date if vesting conditions are met. Following this grant, Follmann beneficially owned 39,448 derivative securities, all held directly.

Insider Trade Summary

Grant/Award: 10,560 shares

Grant/Award 1 txn

Insider Follmann Christian

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	10,560	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 39,448 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
2. F2. The Reporting Person received an award of restricted stock units on December 4, 2025 which will vest 100% on December 4, 2032.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Hercules Capital (HCXY) disclose in this Form 4?

The company disclosed that its Chief Operating Officer, Christian Follmann, received an award of 10,560 restricted stock units on December 4, 2025.

What does each restricted stock unit represent for Hercules Capital (HCXY)?

Each restricted stock unit represents a contingent right to receive one share of Hercules Capital's common stock.

When do the newly granted restricted stock units vest at Hercules Capital (HCXY)?

The restricted stock units granted on December 4, 2025 will vest 100% on December 4, 2032.

How many derivative securities does the Hercules Capital (HCXY) COO own after this transaction?

After the reported transaction, Chief Operating Officer Christian Follmann beneficially owned 39,448 derivative securities, held directly.

Who is the reporting person in this Hercules Capital (HCXY) Form 4 filing?

The reporting person is Christian Follmann, who serves as the Chief Operating Officer of Hercules Capital, Inc.

What type of securities are reported in the Hercules Capital (HCXY) Form 4?

The filing reports restricted stock units, which are derivative securities that can settle in shares of Hercules Capital common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/08/2025 - 04:53 PM Learn about SEC filing dates

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^*

Follmann Christian

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

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

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
Restricted Stock Units	(1)	12/04/2025		A		10,560		(2)	(2)	Common Stock	0.00	$0.00	39,448	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

2. The Reporting Person received an award of restricted stock units on December 4, 2025 which will vest 100% on December 4, 2032.

Remarks:

	/s /Eileen Bagarella, Attorney-in-Fact for Christian Follmann	12/08/2025
	** 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.