Director at Heritage Financial (HFWA) exercises 2,218 restricted stock units

Rhea-AI Filing Summary

HERITAGE FINANCIAL CORP director Frederick B. Rivera exercised restricted stock units into common shares. He converted 2,218 restricted stock units into 2,218 shares of common stock at $27.61 per share. Following the transaction, he directly holds 7,190 shares of Heritage Financial common stock and no remaining RSUs from this grant.

Insider Trade Summary

2,218 shares exercised/converted

Mixed 2 txns

Insider Rivera Frederick 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 — 7,190 shares (Direct, null)

Footnotes (1)

Key Figures

RSUs exercised: 2,218 units Common shares acquired: 2,218 shares Reference price per share: $27.61 per share +3 more

6 metrics

RSUs exercised 2,218 units Restricted Stock Units converted on exercise

Common shares acquired 2,218 shares Common Stock received from RSU exercise

Reference price per share $27.61 per share Transaction price for RSU conversion to Common Stock

Shares held after transaction 7,190 shares Total direct HERITAGE FINANCIAL CORP common stock

Derivative shares exercised 2,218 shares ExerciseShares from transaction summary

Remaining RSUs from this grant 0 units Total RSUs following this specific exercise

Key Terms

Restricted Stock Units, Common Stock, derivative security, transaction code M

4 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units" in the derivative transaction record"

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.

Common Stock financial

"security_title: "Common Stock" for the non-derivative transaction and underlying security"

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.

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.

transaction code M regulatory

"transaction_code: "M" indicating an exercise or conversion event"

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^*

Rivera Frederick B

(Last) (First) (Middle)

201 5TH AVE SE

(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	7,190	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 Frederick B. Rivera	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 Frederick B. Rivera report?

Frederick B. Rivera reported exercising restricted stock units into common stock. He converted 2,218 restricted stock units into 2,218 shares of HERITAGE FINANCIAL CORP common stock at $27.61 per share, reflecting a compensation-related equity settlement rather than an open-market stock purchase or sale.

How many HFWA shares did Frederick B. Rivera acquire in this Form 4?

Rivera acquired 2,218 shares of HERITAGE FINANCIAL CORP common stock through the exercise of restricted stock units. The transaction used a reference price of $27.61 per share and increased his directly held common stock position to a total of 7,190 shares after the transaction was completed.

Was Rivera’s HFWA Form 4 transaction a market purchase or sale?

The filing shows a derivative exercise, not an open-market trade. Rivera exercised 2,218 restricted stock units into 2,218 common shares at $27.61 per share. The Form 4 lists transaction code M, indicating an exercise or conversion of a derivative security rather than a standard buy or sell order.

What is Frederick B. Rivera’s HFWA shareholding after this transaction?

After exercising his restricted stock units, Rivera directly holds 7,190 shares of HERITAGE FINANCIAL CORP common stock. The Form 4 lists this figure as his total shares following the transaction, providing investors with an updated view of his direct equity stake in the company.

What happened to Rivera’s restricted stock units in this HFWA filing?

Rivera exercised 2,218 restricted stock units into common stock, reducing this derivative position to zero. The Form 4 shows 2,218 derivative shares converted into 2,218 common shares, with a remaining balance of 0 restricted stock units for this specific award after the exercise on the reported date.