Heritage Commerce (HTBK) EVP exercises RSUs, withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Heritage Commerce Corp executive vice president and general counsel Janisha Sabnani reported routine equity compensation activity involving restricted stock units and common stock. On March 10, 2026, she exercised 2,919 RSUs, which converted into an equal number of shares of common stock at no cash exercise price.
In connection with this vesting, 1,090 shares of common stock were withheld at $12.14 per share to cover tax obligations, and she acquired an additional 146 shares as stock dividends tied to the partial RSU vesting. Following these transactions, she directly held 4,916 shares of common stock, along with unvested RSU and performance-based RSU awards covering 14,613, 8,757, and 9,524 underlying shares that vest over future dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,919 shares exercised/converted
Mixed
7 txns
Insider
Sabnani Janisha
Role
EVP/General Counsel/Corp Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 2,919 | $0.00 | -- |
| Exercise | Common Stock, No Par Value | 2,919 | $0.00 | -- |
| Grant/Award | Common Stock, No Par Value | 146 | $0.00 | -- |
| Tax Withholding | Common Stock, No Par Value | 1,090 | $12.14 | $13K |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Performance-Based Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 5,838 shares (Direct);
Common Stock, No Par Value — 5,860 shares (Direct);
Performance-Based Restricted Stock Unit — 8,757 shares (Direct)
Footnotes (1)
- The reporting person acquired 146 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. 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 Janisha Sabnani report on March 10, 2026?
Janisha Sabnani reported RSU vesting and related share movements. She exercised 2,919 restricted stock units into common shares, received 146 additional shares as stock dividends, and had 1,090 shares withheld at $12.14 per share to satisfy tax obligations tied to the vesting.
What restricted stock unit awards does HTBK executive Janisha Sabnani still hold?
She retains several unvested RSU and performance-based RSU awards. Remaining awards cover 14,613 underlying common shares in one RSU grant, 8,757 underlying shares in a performance-based RSU grant, and 9,524 underlying shares in another RSU grant, all scheduled to vest on future dates.
How do Heritage Commerce (HTBK) RSUs convert into common stock for this executive?
The RSUs convert into common stock on a one-for-one basis. Footnote disclosure states each restricted stock unit represents one share of Heritage Commerce common stock, with vesting occurring in scheduled installments that then deliver the corresponding number of shares to the reporting person.
What is the vesting schedule for Janisha Sabnani’s new RSU grant at HTBK?
The RSU grant vests in three equal annual installments. Vesting begins on March 10, 2026, the first anniversary of the grant date, with additional tranches vesting on March 10, 2027, and March 10, 2028, delivering shares as each installment vests.