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Hercules Capital (NYSE: HTGC) director receives 3,873-share restricted stock award

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

BADAVAS ROBERT P reported acquisition or exercise transactions in this Form 4 filing.

Hercules Capital director Robert P. Badavas received a grant of 3,873 shares of common stock as restricted stock. The award was issued automatically upon his re-election to the board under the 2026 Non-Employee Director Plan at a reference price of $15.49 per share.

Following the grant, Badavas holds 8,943 shares directly and 122,073 shares indirectly through the Robert P. Badavas Trust of 2007. The restricted stock is subject to forfeiture, with one-third scheduled to vest on each anniversary of the grant over three years, reflecting routine equity-based director compensation rather than an open-market purchase.

Positive

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Insider BADAVAS ROBERT P
Role null
Type Security Shares Price Value
Grant/Award Common Stock 3,873 $15.49 $60K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 8,943 shares (Direct, null); Common Stock — 122,073 shares (Indirect, By Trust)
Footnotes (1)
  1. Held by the Robert P. Badavas Trust of 2007 Restricted Stock issued as an automatic grant upon re-election to the board of directors pursuant to the 2026 Non-Employee Director Plan and subject to forfeiture restrictions. One-third vests on the anniversary of the grant over three years.
Restricted stock grant 3,873 shares Automatic grant upon re-election to board
Grant reference price $15.49 per share Restricted stock issued under 2026 Non-Employee Director Plan
Direct holdings after grant 8,943 shares Common stock held directly by Robert P. Badavas
Indirect trust holdings 122,073 shares Held by the Robert P. Badavas Trust of 2007
Vesting schedule One-third annually over 3 years Restricted stock vesting on each grant anniversary
Restricted Stock financial
"Restricted Stock issued as an automatic grant upon re-election to the board of directors"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
2026 Non-Employee Director Plan financial
"pursuant to the 2026 Non-Employee Director Plan and subject to forfeiture restrictions"
subject to forfeiture restrictions financial
"Restricted Stock issued as an automatic grant ... and subject to forfeiture restrictions"
Trust financial
"Held by the Robert P. Badavas Trust of 2007"
A trust is a legal setup in which one party (the trustee) holds and manages assets—like cash, stocks or property—on behalf of other people (beneficiaries) according to instructions from the person who created it (the grantor). Think of it as a locked box with a keyholder who must follow written rules; for investors it matters because trusts influence who controls and benefits from assets, affect taxes and succession, and can change how quickly or transparently shares are bought, sold or voted.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
BADAVAS ROBERT P
(Last)(First)(Middle)
C/O HERCULES CAPITAL, INC.
1 NORTH B STREET, SUITE 2000
(Street)
SAN MATEO CALIFORNIA 94401
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Hercules Capital, Inc. [ HTGC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock122,073IBy Trust(1)
Common Stock06/18/2026A3,873(2)A$15.498,943D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Held by the Robert P. Badavas Trust of 2007
2. Restricted Stock issued as an automatic grant upon re-election to the board of directors pursuant to the 2026 Non-Employee Director Plan and subject to forfeiture restrictions. One-third vests on the anniversary of the grant over three years.
Remarks:
/s /Kiersten Zaza Botelho, Attorney-in-Fact for Robert Badavas06/23/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Hercules Capital (HTGC) disclose for Robert P. Badavas?

Hercules Capital disclosed that director Robert P. Badavas received a grant of 3,873 restricted shares of common stock. This was an automatic equity award tied to his re-election to the board, structured as compensation rather than an open-market stock purchase.

How many Hercules Capital (HTGC) shares does Robert P. Badavas now hold?

After the reported grant, Robert P. Badavas holds 8,943 Hercules Capital shares directly and 122,073 shares indirectly through the Robert P. Badavas Trust of 2007. These figures show his combined direct and trust-related exposure reported in this Form 4 filing.

What are the terms of the restricted stock grant to the Hercules Capital (HTGC) director?

The director’s 3,873-share restricted stock grant was issued under the 2026 Non-Employee Director Plan and is subject to forfeiture. One-third of the shares vests on each anniversary of the grant date over three years, aligning equity compensation with continued board service.

Was the Hercules Capital (HTGC) director’s share grant an open-market purchase?

No, the 3,873-share transaction was coded as an award rather than a purchase. It represents restricted stock issued automatically upon re-election to the board, under a company compensation plan, instead of shares bought on the open market by the director.

How was the indirect ownership in Hercules Capital (HTGC) reported for Robert P. Badavas?

The filing shows 122,073 Hercules Capital shares held indirectly by the Robert P. Badavas Trust of 2007. This indicates trust-held ownership, separate from his 8,943 directly held shares, clarifying that a substantial portion of his reported holdings is through a trust structure.