Heritage Global (NASDAQ: HGBL) director receives 20,000 restricted stock award

Rhea-AI Filing Summary

Hexner Michael reported acquisition or exercise transactions in this Form 4 filing.

Heritage Global Inc. director Michael Hexner received an award of 20,000 shares of Common Stock, reported at a price of $0.0000 per share. Following this grant, his directly held position increased to 272,104 shares.

The awarded shares are restricted and will vest in four equal quarterly installments: 25% on June 5, 2026, 25% on September 5, 2026, 25% on December 5, 2026, and the remaining 25% on March 5, 2027. This structure ties the full benefit of the grant to his continued service over time.

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^*

Hexner Michael

(Last) (First) (Middle)

PO BOX 11935

(Street)

ZEPHYR COVE POST OFFICE NEVADA 89449

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
03/05/2026

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	03/05/2026		A		20,000(1)	A	$0	272,104	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. These shares are restricted and will vest quarterly with 25% vesting on June 5, 2026; 25% vesting on September 5, 2026; 25% vesting on December 5, 2026; and 25% vesting on March 5, 2027

	/s/ Michael Hexner by James E. Sklar POA	03/26/2026
	** 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 Heritage Global Inc. (HGBL) report for Michael Hexner?

Heritage Global Inc. reported that director Michael Hexner received a grant of 20,000 shares of Common Stock at a stated price of $0.0000 per share, increasing his directly held position to 272,104 shares after the award.

Are the 20,000 shares granted to HGBL director Michael Hexner restricted?

Yes, the 20,000 shares granted to director Michael Hexner are restricted. According to the filing footnote, these shares vest in stages over time rather than immediately, linking the award’s full benefit to his ongoing service with Heritage Global Inc.

What is the vesting schedule for Michael Hexner’s restricted HGBL shares?

The 20,000 restricted shares will vest in four equal 25% installments: on June 5, 2026, September 5, 2026, December 5, 2026, and March 5, 2027. Each date releases 5,000 shares from restriction as they vest.

How many Heritage Global Inc. (HGBL) shares does Michael Hexner hold after this Form 4 transaction?

After the reported grant, director Michael Hexner directly holds 272,104 shares of Heritage Global Inc. Common Stock. This figure includes the newly awarded 20,000 restricted shares that will vest over the specified schedule through early 2027.

Did Michael Hexner buy or sell HGBL shares in the open market in this filing?

No open-market buy or sell is reported. The Form 4 shows a grant, categorized as a “grant, award, or other acquisition” of 20,000 restricted shares, rather than a purchase or sale transaction on the market.