Heritage Financial (HFWA) director converts 2,218 RSUs into common shares

Rhea-AI Filing Summary

Heritage Financial Corp (HFWA) director Gail B. Giacobbe exercised restricted stock units into common shares. On May 1, 2026, 2,218 restricted stock units converted into 2,218 shares of common stock at a reported value of $27.61 per share, bringing her direct holdings to 9,977 shares.

Insider Trade Summary

2,218 shares exercised/converted

Mixed 2 txns

Insider Giacobbe Gail B.

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,218	$27.61	$61K
Exercise	Common Stock	2,218	$27.61	$61K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock — 9,977 shares (Direct, null)

Footnotes (1)

Key Figures

Shares acquired via RSU exercise: 2,218 shares Per-share value on exercise: $27.61 per share Shares held after transaction: 9,977 shares +1 more

4 metrics

Shares acquired via RSU exercise 2,218 shares Restricted stock units converted to common stock on May 1, 2026

Per-share value on exercise $27.61 per share Reported transaction price for RSU conversion

Shares held after transaction 9,977 shares Total direct common stock holdings following Form 4 transaction

RSUs exercised 2,218 units Restricted Stock Units converted to common stock, leaving zero balance

Key Terms

Restricted Stock Units, derivative security, Common Stock

3 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units""

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 Insider Transactions: What Each Field Means →

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^*

Giacobbe Gail B.

(Last) (First) (Middle)

201 5TH AVE SW

(Street)

OLYMPIA WASHINGTON 98501

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HERITAGE FINANCIAL CORP /WA/ [ HFWA ]

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)
05/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/01/2026		M		2,218	A	$27.61	9,977	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
Restricted Stock Units	$0	05/01/2026		M			2,218	05/01/2026	05/01/2026	Common Stock	2,218	$27.61	0	D

Explanation of Responses:

Remarks:

	/s/Kaylene Lahn Attorney In Fact for Gail B. Giacobbe	05/04/2026
	** 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)

FAQ

What insider transaction did HFWA director Gail B. Giacobbe report?

Gail B. Giacobbe reported exercising restricted stock units into common shares. On May 1, 2026, 2,218 restricted stock units converted into 2,218 shares of Heritage Financial common stock as part of a derivative exercise, rather than an open-market purchase or sale.

How many HFWA shares did Gail B. Giacobbe acquire in this Form 4 filing?

She acquired 2,218 shares of Heritage Financial common stock. These shares came from the exercise of 2,218 restricted stock units, which converted into the same number of common shares on May 1, 2026, according to the Form 4 transaction details.

What is Gail B. Giacobbe’s HFWA shareholding after this transaction?

After the transaction, Gail B. Giacobbe directly holds 9,977 shares of Heritage Financial common stock. This total reflects the addition of 2,218 newly acquired shares from the restricted stock unit conversion reported in the Form 4 filing.

What does the transaction code M mean in this HFWA Form 4?

Transaction code M indicates an exercise or conversion of a derivative security. In this case, 2,218 restricted stock units were exercised and converted into 2,218 shares of Heritage Financial common stock, rather than representing a traditional open-market buy or sell order.

Were any derivative securities remaining after Gail B. Giacobbe’s HFWA transaction?

The filing shows that 2,218 restricted stock units were exercised, leaving a reported balance of zero for that derivative position. The derivative summary is empty, indicating no remaining restricted stock units from this specific award after the May 1, 2026 conversion.