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  4. [Form 4] Hercules Capital, Inc. Insider Trading Activity

Hercules Capital Board Member Shows Confidence with New Stock Purchase and Trust Setup

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

Rhea-AI Filing Summary

Form 4 filing reveals insider trading activity for Hercules Capital (HTGC) by Director Wade Loo on June 18, 2025. Key transactions include:

  • Acquisition of 3,329 shares of restricted stock at $18.02 per share as an automatic board re-election grant, subject to 3-year vesting schedule (1/3 annually)
  • Transfer of 5,999 shares from direct to indirect ownership through the Loo Revocable Trust
  • Post-transactions ownership: - 4,834 shares held directly - 31,093 shares held indirectly through trust (including 40 shares from dividend reinvestment on May 20, 2025)

The filing indicates continued insider investment in HTGC, with a structured compensation package for non-employee directors and strategic wealth management through trust ownership structure.

Positive

  • Director Wade Loo received 3,329 shares of restricted stock at $18.02 per share as part of standard board compensation, demonstrating continued alignment with shareholder interests

Negative

  • None.
Insider Loo Wade
Role Director
Type Security Shares Price Value
Grant/Award Common Stock 3,329 $18.02 $60K
Disposition Common Stock 5,999 $0.00 --
Grant/Award Common Stock 5,999 $0.00 --
Holdings After Transaction: Common Stock — 10,833 shares (Direct); Common Stock — 31,093 shares (Indirect, By Trust)
Footnotes (1)
  1. Restricted Stock issued as an automatic grant upon re-election to the board of directors pursuant to the 2018 Non-Employee Director Plan and subject to forfeiture restrictions. One-third vests on the anniversary of the grant over three years. Shares previously reported as directly owned are now being reported as indirectly owned. Includes 40 dividend reinvestment shares acquired on May 20, 2025. Held by the Loo Revocable Trust
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED 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*
Loo Wade
(Last) (First) (Middle)
C/O HERCULES CAPITAL, INC.
1 NORTH B STREET, SUITE 2000
(Street)
SAN MATEO CA 94401
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Hercules Capital, Inc. [ HTGC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Common Stock 06/18/2025 A 3,329(1) A $18.02 10,833 D
Common Stock 06/18/2025 D 5,999(2) D $0.00 4,834 D
Common Stock 06/18/2025 A 5,999(2) A $0.00 31,093(3) I By Trust(4)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Restricted Stock issued as an automatic grant upon re-election to the board of directors pursuant to the 2018 Non-Employee Director Plan and subject to forfeiture restrictions. One-third vests on the anniversary of the grant over three years.
2. Shares previously reported as directly owned are now being reported as indirectly owned.
3. Includes 40 dividend reinvestment shares acquired on May 20, 2025.
4. Held by the Loo Revocable Trust
Remarks:
/s /Eileen Bagarella, Attorney-in-Fact for Wade Loo 06/20/2025
** Signature of Reporting Person Date
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider trading activity occurred at HTGC on June 18, 2025?

Director Wade Loo received 3,329 shares of restricted stock at $18.02 per share as an automatic grant upon re-election to the board. Additionally, 5,999 shares were transferred from direct ownership to indirect ownership through the Loo Revocable Trust.

How many HTGC shares does Wade Loo own after the June 18, 2025 transactions?

After the transactions, Wade Loo owns 4,834 shares directly and 31,093 shares indirectly through the Loo Revocable Trust. The indirect ownership includes 40 dividend reinvestment shares acquired on May 20, 2025.

What are the vesting terms for HTGC's restricted stock granted to Wade Loo?

The restricted stock was granted under the 2018 Non-Employee Director Plan and vests in three equal annual installments, with one-third vesting on each anniversary of the grant date. The shares are subject to forfeiture restrictions until vested.

Was HTGC director Wade Loo's stock transfer on June 18, 2025 a sale?

No, this was not a sale. The Form 4 shows that 5,999 shares were simply transferred from direct ownership to indirect ownership through the Loo Revocable Trust, with no change in beneficial ownership or sale price ($0.00 reported).