HGBL EVP sells 3,734 shares; holds 279,795 shares after sale

Rhea-AI Filing Summary

Heritage Global Inc. (HGBL) reported an insider transaction by its EVP, General Counsel & Secretary. On 11/03/2025, the officer sold 3,734 shares of common stock at a weighted average price of $1.43 per share under a previously established Rule 10b5-1 trading plan. The filing notes the sales occurred in multiple trades between $1.41 and $1.46.

Following the sale, the reporting person beneficially owns 279,795 shares, held directly. The disclosure indicates a routine, pre‑planned transaction rather than discretionary trading.

Insider Trade Summary

Net Seller: 3,734 shares ($5,340)

Net Sell 1 txn

Insider Sklar James Edward

Role EVP, Gen Counsel & Secretary

Sold 3,734 shs ($5K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,734	$1.43	$5K

Holdings After Transaction: Common Stock — 279,795 shares (Direct)

Footnotes (1)

1. This transaction reflects the sale of shares made pursuant to a previously established 10b5-1 plan The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.41 to $1.46, 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.

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).

X

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^*

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)
11/03/2025

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	11/03/2025		S(1)		3,734	D	$1.43(2)	279,795	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 $1.41 to $1.46, 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	11/04/2025
	** 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

What did HGBL disclose in this Form 4?

An officer sold 3,734 shares of common stock on 11/03/2025 under a Rule 10b5-1 plan at a weighted average price of $1.43.

Who is the reporting person in HGBL’s filing?

The company’s EVP, General Counsel & Secretary reported the transaction.

How many HGBL shares does the insider own after the sale?

The reporting person beneficially owns 279,795 shares directly after the transaction.

What price range were the shares sold at?

Multiple trades occurred between $1.41 and $1.46, with a weighted average price of $1.43.

Was this trade pre‑planned?

Yes. The sale was made pursuant to a previously established Rule 10b5-1 trading plan.

What transaction code was used?

Transaction code S indicates an open market sale.