Heritage Commerce (NASDAQ: HTBK) EVP exercises RSUs, boosts stock holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HERITAGE COMMERCE CORP EVP/People & Culture Officer Christopher Edmonds-Waters reported compensation-related equity activity. He exercised 2,796 Restricted Stock Units, which converted into the same number of shares of Common Stock at a price of $0.00 per share, and received an additional 139 shares of Common Stock as stock dividends tied to the partial vesting of an RSU grant. Following these transactions, he directly holds 9,639 shares of Common Stock. He also continues to hold unvested RSU and performance-based RSU awards representing 20,000, 8,388, and 13,997 underlying shares that are scheduled to vest over time.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,796 shares exercised/converted
Mixed
6 txns
Insider
Edmonds-Waters Christopher
Role
EVP/People & Culture Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 2,796 | $0.00 | -- |
| Exercise | Common Stock, No Par Value | 2,796 | $0.00 | -- |
| Grant/Award | Common Stock, No Par Value | 139 | $0.00 | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 5,592 shares (Direct);
Common Stock, No Par Value — 9,500 shares (Direct);
Performance-Based Restricted Stock Unit — 8,388 shares (Direct)
Footnotes (1)
- The reporting person acquired 139 shares of the Company's Common Stock as a result of the stock dividends payable to the reporting person upon the partial vesting of the RSUs grant. Restricted Stock Units (RSUs) convert into shares of the Company's Common Stock on a one-for-one basis. The RSUs vest annually in three equal installments commencing on March 10, 2026, the first anniversary of the holder's grant date. The second tranche will vest on March 10, 2027. The remaining RSUs will vest on March 10, 2028.
FAQ
What insider transactions did HTBK executive Christopher Edmonds-Waters report?
Christopher Edmonds-Waters reported exercising 2,796 Restricted Stock Units into Common Stock and receiving 139 additional Common shares as stock dividends from partial RSU vesting. These are compensation-related acquisitions, not open-market purchases or sales, and increase his directly held Common Stock position.
Were the HTBK transactions open-market buys or sells by the executive?
The transactions were not open-market trades. They consist of RSUs converting into 2,796 Common shares at a $0.00 exercise price and a 139-share stock dividend from partial RSU vesting, which are compensation and vesting events rather than discretionary market purchases or sales.
What unvested HTBK equity awards does Christopher Edmonds-Waters still hold?
He continues to hold unvested awards linked to 20,000 underlying Common shares in RSUs, 8,388 underlying shares in performance-based RSUs, and 13,997 underlying shares in additional RSUs. These awards vest over future dates according to the company’s stated vesting schedules.
How do the HTBK RSUs convert into Common Stock for this executive?
The RSUs convert into Heritage Commerce Corp Common Stock on a one-for-one basis. In this filing, 2,796 RSUs converted into 2,796 Common shares at a $0.00 exercise price, consistent with standard RSU structures where each unit represents one share upon vesting and settlement.