Hercules Capital (HCXY) COO reports 37,007-share restricted stock grant

Rhea-AI Filing Summary

Hercules Capital, Inc. chief operating officer Christian Follmann reported a grant of restricted common stock. On January 8, 2026, he acquired 37,007 shares of common stock at $18.24 per share. These shares were issued under the company’s Amended and Restated Equity Incentive Plan and are subject to forfeiture restrictions, with one-third vesting on the one-year anniversary of the grant date and the remainder vesting quarterly over the following 24 months.

After this grant, Follmann beneficially owns 153,892 shares of common stock directly, plus 350 shares held indirectly through his spouse.

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^*

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)
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		37,007(1)	A	$18.24	153,892	D
Common Stock								350	I	By Spouse

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 Christian Follmann	01/12/2026
	** 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.

FAQ

What insider transaction was reported for Hercules Capital (HCXY)?

Chief Operating Officer Christian Follmann reported receiving a grant of 37,007 shares of Hercules Capital common stock on January 8, 2026.

What type of shares did Christian Follmann receive from Hercules Capital (HCXY)?

He received restricted common stock issued under the Amended and Restated Equity Incentive Plan, subject to vesting and forfeiture restrictions.

What is the vesting schedule for the 37,007 restricted shares granted to the Hercules Capital (HCXY) COO?

One-third of the grant vests on the one-year anniversary of the grant date, with the remaining shares vesting quarterly over the following 24 months.

At what price were the restricted shares granted to the Hercules Capital (HCXY) COO?

The 37,007 restricted shares of common stock were reported at a price of $18.24 per share.

How many Hercules Capital (HCXY) shares does Christian Follmann own after this transaction?

Following the grant, he beneficially owns 153,892 shares of common stock directly and 350 shares indirectly by spouse.

Does the Form 4 show any indirect ownership for the Hercules Capital (HCXY) COO?

Yes. In addition to his direct holdings, the filing reports 350 shares of common stock held indirectly, noted as By Spouse.