Heritage Commerce CEO exercises RSUs, stock award
Heritage Commerce Corp President and CEO Jones Robertson Clay Jr. reported equity compensation activity.
Rhea-AI Filing Summary
Heritage Commerce Corp President and CEO Jones Robertson Clay Jr. reported equity compensation activity. He exercised 13,212 restricted stock units into common stock at a conversion price of $0.00 per share and received an additional 1,427 common shares from stock dividends tied to partial RSU vesting. Following these acquisitions, he directly holds 286,561 shares of common stock. Several RSU and performance-based RSU awards remain outstanding, including grants for 10,492 and 39,635 underlying common shares expiring on May 2, 2026 and March 8, 2027, respectively.
Positive
- None.
Negative
- None.
Insider Trade Summary
13,212 shares exercised/converted
Exercise
9 txns
Insider
Jones Robertson Clay JR
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 13,212 | $0.00 | $0.00 |
| Exercise | Common Stock, No Par Value | 13,212 | $0.00 | $0.00 |
| Grant/Award | Common Stock, No Par Value | 1,427 | $0.00 | $0.00 |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 102,938 contracts for 89,726 underlying shares (Direct);
Common Stock, No Par Value — 286,561 shares (Direct);
Performance-Based Restricted Stock Unit — 100,802 contracts (Direct)
Footnotes (3)
- F1. The reporting person acquired 1,427 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.
- F2. Restricted Stock Units, or RSUs, convert into shares of the Company's Common Stock on a one-for-one basis.
- F3. The RSUs vest annually in three equal installments commencing on March 8, 2025, the first anniversary of the holder's grant date. The remaining RSUs will vest on March 8, 2027.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did HTBK President and CEO Jones Robertson Clay Jr. report on this Form 4?
He reported equity compensation activity, not an open-market trade. He exercised 13,212 restricted stock units into common stock and received 1,427 additional common shares through stock dividends associated with partially vested RSUs, increasing his directly held common stock position.
Were the HTBK CEO’s March 8, 2026 Form 4 transactions open-market buys or sells?
They were not open-market buys or sells. The filing shows an M-code derivative exercise of 13,212 restricted stock units at $0.00 and an A-code acquisition of 1,427 shares from stock dividends on partially vested RSUs, both classified as compensation-related share acquisitions.
What do the restricted stock units (RSUs) reported by HTBK’s CEO represent?
The RSUs represent rights to receive common stock in the future. Footnotes state RSUs convert into HERITAGE COMMERCE CORP common shares on a one-for-one basis and vest annually in three equal installments beginning March 8, 2025, with remaining RSUs vesting by March 8, 2027.
What performance-based RSU awards remain outstanding for the HTBK CEO?
The filing lists several performance-based RSU awards still outstanding. Examples include 39,635 underlying common shares with an expiration date of March 8, 2027, and 31,477 underlying shares expiring May 2, 2026, all held directly and subject to their respective performance and vesting conditions.
How many restricted stock units remain unexercised for the HTBK CEO after this Form 4?
The filing shows multiple remaining RSU awards. Examples include 10,492 underlying common shares expiring May 2, 2026, 29,691 underlying shares expiring March 10, 2028, and 49,543 underlying shares expiring March 5, 2029, all converting one-for-one into common stock upon vesting and settlement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
