[Form 4] Heritage Global Inc. Insider Trading Activity

Rhea-AI Filing Summary

James Edward Sklar, EVP, General Counsel & Secretary of Heritage Global Inc. (HGBL), reported a sale of 7,468 shares of Common Stock on 10/01/2025 under a previously established 10b5-1 plan at a weighted average price of $1.63. The Form 4 shows the shares were sold at prices ranging from $1.61 to $1.65. After the reported transactions, Mr. Sklar beneficially owns 283,529 shares. The Form 4 was signed on 10/02/2025 and indicates the filing was made by one reporting person.

Positive

• Transaction executed under a 10b5-1 plan, indicating preplanned trades
• Detailed price range disclosed ($1.61 to $1.65) with weighted average $1.63

Negative

• Insider sold 7,468 shares, reducing reported beneficial ownership
• Reported holding decreased to 283,529 shares after the sale

Insights

Corporate Governance Analyst

Insider sale under a 10b5-1 plan reduces holdings but appears preplanned.

The filing records a sale of 7,468 shares executed under a documented 10b5-1 trading plan, which indicates the transactions were pre-authorized and not opportunistic trades. The report provides the weighted average sale price of $1.63 and the explicit per-share range of $1.61 to $1.65, allowing investors to see the realized price band.

This is a disclosure event that updates insider ownership to 283,529 shares; it does not itself disclose any new company operational information.

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).

1. Name and Address of Reporting Person^*

Sklar James Edward

(Last) (First) (Middle)

12625 HIGH BLUFF DRIVE, SUITE 305

(Street)

SAN DIEGO CA 92130

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Heritage Global Inc. [ HGBL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Gen Counsel & Secretary

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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
Common Stock	10/01/2025		S(1)		7,468	D	$1.63(2)	283,529	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. This transaction reflects the sale of shares made pursuant to a previously established 10b5-1 plan

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.61 to $1.65, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (2) to this Form 4.

	/s/ James Sklar	10/02/2025
	** 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.

FAQ

How many HGBL shares did James Sklar sell on 10/01/2025?

The Form 4 shows he sold 7,468 shares on 10/01/2025.

At what price were the HGBL shares sold by James Sklar?

The reported weighted average sale price was $1.63, with sales ranging from $1.61 to $1.65.

What is James Sklar's beneficial ownership of HGBL after the sale?

After the reported transactions he beneficially owns 283,529 shares.

Was the sale by James Sklar discretionary or preplanned?

The Form 4 states the sale was made pursuant to a previously established 10b5-1 plan.

What role does the reporting person hold at Heritage Global Inc.?

The filing lists James Edward Sklar as EVP, General Counsel & Secretary.