Heritage Commerce (NASDAQ: HTBK) EVP updates holdings after RSU vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Heritage Commerce Corp executive Janisha Sabnani reported several equity award-related transactions on February 27, 2026. She exercised 4,761 Restricted Stock Units, which converted into the same number of shares of common stock at $0.00 per share, reflecting a standard RSU conversion.
She also acquired 238 common shares as stock dividends tied to the partial vesting of her RSU grant, and disposed of 2,058 common shares at $12.43 per share to cover tax withholding obligations. After these transactions, she directly held 2,941 common shares, plus separate holdings of RSUs and performance-based RSUs that vest annually in three equal installments beginning on February 27, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,761 shares exercised/converted
Mixed
6 txns
Insider
Sabnani Janisha
Role
EVP/General Counsel/Corp Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 4,761 | $0.00 | -- |
| Exercise | Common Stock, No Par Value | 4,761 | $0.00 | -- |
| Grant/Award | Common Stock, No Par Value | 238 | $0.00 | -- |
| Tax Withholding | Common Stock, No Par Value | 2,058 | $12.43 | $26K |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 9,524 shares (Direct);
Common Stock, No Par Value — 4,761 shares (Direct);
Performance-Based Restricted Stock Unit — 8,757 shares (Direct)
Footnotes (1)
- Restricted Stock Units (RSUs) convert into shares of the Company's Common Stock on a one-for-one basis. The reporting person acquired 238 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. Represents RSUs withheld to satisfy tax withholding obligations in connection with the vesting of Restricted Stock, exempt under Rule 16b-3. The RSUs vest annually in three equal installments commencing on February 27, 2026, the first anniversary of the holder's grant date. The second tranche will vest on February 27, 2027. The remaining RSUs will vest on February 27, 2028.
FAQ
What did HTBK executive Janisha Sabnani report in this Form 4 filing?
Janisha Sabnani reported equity award-related transactions involving Restricted Stock Units and common stock. She exercised RSUs into common shares, received additional shares via stock dividends, and had shares withheld to cover tax obligations associated with RSU vesting.
How many Heritage Commerce (HTBK) RSUs did Janisha Sabnani convert?
She converted 4,761 Restricted Stock Units into 4,761 shares of Heritage Commerce common stock. According to the footnotes, RSUs convert into common stock on a one-for-one basis, meaning each RSU became a single share with no cash purchase price.
What additional RSU awards does HTBK’s Janisha Sabnani hold after the Form 4 transactions?
She continues to hold awards labeled as Restricted Stock Units and Performance-Based Restricted Stock Units, each showing 8,757 units following the transactions. These derivative awards vest over time and can convert into common stock under the company’s equity plan terms.
When will Janisha Sabnani’s new Heritage Commerce RSU grant vest?
The RSUs are scheduled to vest in three equal annual installments starting on February 27, 2026. The second tranche vests on February 27, 2027, and the remaining RSUs vest on February 27, 2028, subject to the grant’s standard conditions.