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4//SEC Filing

Reuter Deborah 4

Accession 0001127602-23-014530

CIK 0001053352other
View on SEC.govCompany Profile

Filed

May 3, 8:00 PM ET

Accepted

May 4, 5:11 PM ET

Size

10.4 KB

Accession

0001127602-23-014530

Insider Transaction Report

Form 4
Period: 2023-05-02
HERITAGE COMMERCE CORPHTBK
Reuter Deborah
EVP/CRO/Corporate Secretary
Transactions
  • Award

    Restricted Stock Unit

    2023-05-02+10,579→ 10,579 total
    Exercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,579 underlying)
  • Award

    Performance-Based Restricted Stock Unit

    2023-05-02+10,578→ 10,578 total
    Exercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,578 underlying)
Holdings

  • Common Stock, No Par Value

    81,906

  • Standard Employee Option - NSO

    Exercise: $8.07From: 2014-02-27Exp: 2024-02-27→ Common Stock, No Par Value (9,000 underlying)
    9,000
Footnotes (4)
  • [F1]Each restricted stock unit represents a right to receive one share of Issuer common stock.
  • [F2]The restricted stock units vest in three equal installments commencing May 2, 2024, the first anniversary of the holder's grant date.
  • [F3]Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
  • [F4]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 grant date ("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 the Performance 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 determined by straight-line interpolation. None of the PRSUs will vest if the Issuer's ROATCE does not exceed the 35th threshold of the Peer Group.

Documents

1 file

Issuer

HERITAGE COMMERCE CORP

CIK 0001053352

→
Entity typeother

Related Parties

1
  • filerCIK 0001920301

Filing Metadata

Form type
4
Filed
May 3, 8:00 PM ET
Accepted
May 4, 5:11 PM ET
Size
10.4 KB
View on SEC.gov