Burnham William L 4

What Happened
William L. Burnham, a director of Heritage Global, was granted 20,000 shares as an award/acquisition on March 5, 2026. The shares were issued at $0.00 (no purchase price), so there was no cash exchanged on the grant date. These are restricted shares subject to a vesting schedule rather than an open-market purchase or sale.

Key Details

• Transaction type: Award/Grant (code A) of 20,000 restricted shares on 2026-03-05 at $0.00 (total immediate value $0).
• Vesting: 25% vest on June 5, 2026; 25% on September 5, 2026; 25% on December 5, 2026; 25% on March 5, 2027 (per footnote).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed 2026-03-26 for a 2026-03-05 transaction — this appears to be a late Form 4 filing (Form 4s are normally due within two business days), which the registrant should explain to the SEC.

Context
Restricted stock awards like this are typically part of director or executive compensation and do not represent an immediate market purchase or sale — the shares generally cannot be sold until they vest. This grant signals compensation alignment with shareholders but, by itself, is not a market signal the way open-market purchases or sales can be.