Hercules Capital (HCXY) CEO awarded 298,794 restricted shares

Rhea-AI Filing Summary

Hercules Capital, Inc. reported an insider equity award for its Chief Executive Officer, Scott Bluestein. On 01/08/2026, he received 298,794 shares of common stock as a restricted stock grant at $18.24 per share under the company’s Amended and Restated Equity Incentive Plan. These shares are subject to forfeiture and vest over time, with one-third vesting on the one-year anniversary of the grant date and the remaining two-thirds vesting quarterly over the following 24 months.

Following this grant, Bluestein directly beneficially owns 2,542,891 shares of Hercules Capital common stock, aligning his compensation further with shareholder interests through performance- and tenure-based vesting.

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^*

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)
01/08/2026

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	01/08/2026		A		298,794(1)	A	$18.24	2,542,891	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. Restricted stock issued as a grant pursuant to the Amended and Restated Equity Incentive Plan and subject to forfeiture restrictions of one-third vesting on the one year anniversary of the grant date followed by quarterly vesting over the following 24 months.

Remarks:

	/s/ Eileen Bagarella, Attorney-in-fact for Scott Bluestein	01/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Hercules Capital (HCXY) report in this filing?

The filing reports that Chief Executive Officer Scott Bluestein received a grant of 298,794 shares of Hercules Capital common stock as restricted stock on 01/08/2026.

What was the grant price for the Hercules Capital (HCXY) restricted stock awarded to the CEO?

The restricted stock granted to CEO Scott Bluestein was reported at a price of $18.24 per share.

How many Hercules Capital (HCXY) shares does the CEO own after this Form 4 transaction?

After the reported grant, CEO Scott Bluestein beneficially owns 2,542,891 shares of Hercules Capital common stock in direct ownership.

What is the vesting schedule for the 298,794 restricted Hercules Capital (HCXY) shares?

The 298,794 restricted shares vest with one-third on the one-year anniversary of the grant date, followed by quarterly vesting over the next 24 months, and are subject to forfeiture restrictions until vested.

Under what plan was the Hercules Capital (HCXY) CEO stock grant issued?

The restricted stock granted to CEO Scott Bluestein was issued pursuant to Hercules Capital’s Amended and Restated Equity Incentive Plan.

Is the Hercules Capital (HCXY) CEO transaction a purchase or an award?

The Form 4 shows transaction code "A" and describes the shares as restricted stock issued as a grant, indicating an equity award rather than an open-market purchase or sale.