Hercules Capital (NASDAQ: HCXY) reports 10,560 restricted stock unit award

Rhea-AI Filing Summary

Hercules Capital, Inc. reported that its Chief Legal Officer and Chief Compliance Officer, Kiersten Zaza Botelho, received an award of 10,560 restricted stock units (RSUs) on December 4, 2025. Each RSU represents a contingent right to receive one share of Hercules Capital common stock. According to the disclosure, this RSU grant will vest 100% on December 4, 2032, meaning the shares underlying the units are not delivered until that future vesting date, assuming conditions are met. The filing is made by a single reporting person and reflects an equity-based compensation award rather than an open-market stock purchase or sale.

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

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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^*

Botelho Kiersten Zaza

(Last) (First) (Middle)

C/O HERCULES CAPITAL, INC.

31 ST. JAMES AVENUE, SUITE 1005

(Street)

BOSTON MA 02116

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer & CCO

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

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

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
Restricted Stock Units	(1)	12/04/2025		A		10,560		(2)	(2)	Common Stock	0.00	$0.00	34,335	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

2. The Reporting Person received an award of restricted stock units on December 4, 2025 which will vest 100% on December 4, 2032.

Remarks:

	/s/ /Eileen Bagarella, Attorney-in-Fact for Kiersten Zaza Botelho	12/08/2025
	** 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.

FAQ

What insider transaction did Hercules Capital (HCXY) report in this Form 4?

The company reported that Chief Legal Officer and Chief Compliance Officer Kiersten Zaza Botelho received an award of 10,560 restricted stock units on December 4, 2025.

How many restricted stock units were granted to the Hercules Capital officer?

The reporting officer received 10,560 restricted stock units (RSUs), each representing a contingent right to receive one share of Hercules Capital common stock.

When do the newly granted Hercules Capital RSUs vest?

The restricted stock units granted on December 4, 2025 are scheduled to vest 100% on December 4, 2032.

What does each restricted stock unit represent for Hercules Capital (HCXY)?

Each restricted stock unit represents a contingent right to receive one share of Hercules Capital’s common stock, delivered upon vesting.

Is this Hercules Capital Form 4 filed by more than one reporting person?

No. The disclosure indicates that the Form 4 is filed by one reporting person, covering the transaction for Kiersten Zaza Botelho.

Was this Hercules Capital transaction an open-market stock trade?

No. The Form 4 describes an award of restricted stock units, not a market purchase or sale of common shares.