Filing Details
- Accession Number:
- 0001593968-25-000343
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2025-03-11 18:41:06
- Reporting Period:
- 2025-03-08
- Filing Date:
- 2025-03-11
- Accepted Time:
- 2025-03-11 18:41:06
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1053352 | Heritage Commerce Corp | HTBK | State Commercial Banks (6022) | 770469558 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1788938 | Jr Clay Robertson Jones | 224 Airport Parkway San Jose CA 95110 | President And Ceo | No | No | No | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock, No Par Value | Acquisiton | 2025-03-08 | 13,212 | $0.00 | 258,651 | No | 4 | M | Direct | |
| Common Stock, No Par Value | Acquisiton | 2025-03-08 | 721 | $0.00 | 259,372 | No | 4 | A | Direct | |
| Common Stock, No Par Value | Disposition | 2025-03-10 | 5,145 | $9.73 | 254,227 | No | 4 | S | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | A | Direct | |
| No | 4 | S | Direct |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock, No Par Value | Restricted Stock Unit | Disposition | 2025-03-08 | 13,212 | $0.00 | 13,212 | $0.00 |
| Common Stock, No Par Value | Restricted Stock Unit | Acquisiton | 2025-03-10 | 28,546 | $0.00 | 28,546 | $0.00 |
| Common Stock, No Par Value | Performance-Based Restricted Stock Unit | Acquisiton | 2025-03-10 | 28,456 | $0.00 | 28,456 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 26,424 | 2025-03-08 | 2027-03-08 | No | 4 | M | Direct |
| 28,546 | 2026-03-10 | 2028-03-10 | No | 4 | A | Direct |
| 28,456 | 2028-03-10 | 2028-03-10 | No | 4 | A | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Heritage Commerce Corp - Common Stock | Employee Stock Option (right to buy) | $10.74 | 2019-10-11 | 2028-07-01 | 33,009 | 33,009 | Direct |
| Heritage Commerce Corp - Common Stock | Employee Stock Option (right to buy) | $10.74 | 2019-10-11 | 2028-07-01 | 16,390 | 16,390 | Direct |
| Common Stock, No Par Value | Restricted Stock Unit | $0.00 | 2024-05-02 | 2026-05-02 | 20,985 | 20,985 | Direct |
| Common Stock, No Par Value | Performance-Based Restricted Stock Unit | $0.00 | 2027-03-08 | 2027-03-08 | 39,635 | 39,635 | Direct |
| Common Stock, No Par Value | Performance-Based Restricted Stock Unit | $0.00 | 2026-05-02 | 2026-05-02 | 31,477 | 31,477 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 2028-07-01 | 33,009 | 33,009 | Direct |
| 2028-07-01 | 16,390 | 16,390 | Direct |
| 2026-05-02 | 20,985 | 20,985 | Direct |
| 2027-03-08 | 39,635 | 39,635 | Direct |
| 2026-05-02 | 31,477 | 31,477 | Direct |
Footnotes
- The reporting person acquired 721 shares of the Company's Common Stock as a result of stock dividends payable to the reporting person upon the partial vesting of the Restricted Stock Units grant.
- The Restricted Stock Units vest in three equal installments commencing on March 8, 2025, the first anniversary of the holders' grant date. The remaining Restricted Stock Units will vest in two equal installments commencing on 3/8/2026.
- Each restricted stock unit represents a right to receive one share of Issuer common stock.
- The restricted stock units vest in three equal installments commencing March 10, 2026, the first anniversary of the holder's grant date.
- Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
- The PRSUs will vest depending upon the Issuer's Return on Average Tangible Common Equity ("ROATCE") over a three-year period ("Performance Period"), relative to companies in a peer group selected by the Issuer as of the grantdate ("Peer Group"). If the Issuer's ROATCE is at the 35th percentile of the Peer Group at the end of the Performance Period then 50% of the PRSUs will vest. If the Issuer's ROATCE is at the 50th percentile at the end of thePerformance Period then 100% of the PRSUs will vest. If the Issuer's ROATCE is at the 75th percentile at the end of the Performance Period then 150% of the PRSUs will vest. Vesting between performance levels will be determinedby straight-line interpolation. None of the PRSUs will vest if the Issuer's ROATCE does not exceed the 35th threshold of the Peer Group.
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