Jones Robertson Clay JR 4
4 · HERITAGE COMMERCE CORP · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Heritage Commerce (HTBK) CEO Jones Clay Receives 10,398 Shares
What Happened
Jones Robertson Clay Jr., President & CEO and a Director of Heritage Commerce Corp (HTBK), acquired a total of 10,398 shares on March 10, 2026. The filing shows conversion/exercise of a derivative for 9,897 shares at $0.00 and an award/acquisition of 501 shares at $0.00 (stock dividend payable upon partial vesting). All transactions reported a $0.00 purchase price (these were not open-market cash purchases).
Key Details
- Transaction date: 2026-03-10; filing date: 2026-03-11 (timely).
- Entries: 9,897 shares via exercise/conversion of a derivative (code M) and 501 shares via grant/award/stock dividend (code A). Reported price: $0.00 for all.
- Shares owned after the transactions: not stated in the filing.
- Footnotes: the 501 shares were stock-dividend shares payable upon partial vesting of RSUs (F1). RSUs convert one-for-one into common stock (F2). The RSU grant vests in three equal annual tranches beginning March 10, 2026 (F3).
- No indication in the filing of an immediate market sale of the newly acquired shares.
Context
These entries reflect RSU vesting and related stock-dividend issuance rather than an open-market buy or sale; such vesting is a routine compensation event and does not by itself indicate a change in the insider’s market view. The derivative (M) lines represent conversion/exercise activity tied to equity awards and the extinguishment of the related derivative instruments.
Insider Transaction Report
- Exercise/Conversion
Common Stock, No Par Value
2026-03-10+9,897→ 296,458 total - Award
Common Stock, No Par Value
[F1]2026-03-10+501→ 296,959 total - Exercise/Conversion
Restricted Stock Unit
[F2][F3]2026-03-10−9,897→ 19,794 totalExercise: $0.00From: 2026-03-10Exp: 2028-03-10→ Common Stock, No Par Value (9,897 underlying)
- 10,492
Restricted Stock Unit
Exercise: $0.00From: 2024-05-02Exp: 2026-05-02→ Common Stock, No Par Value (10,492 underlying) - 39,635
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2027-03-08Exp: 2027-03-08→ Common Stock, No Par Value (39,635 underlying) - 31,477
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2026-05-02Exp: 2026-05-02→ Common Stock, No Par Value (31,477 underlying) - 29,690
Performance-Based Restricted Stock Unit
Exercise: $0.00From: 2028-03-10Exp: 2028-03-10→ Common Stock, No Par Value (29,690 underlying) - 49,543
Restricted Stock Unit
Exercise: $0.00From: 2027-03-05Exp: 2029-03-05→ Common Stock, No Par Value (49,543 underlying) - 13,212
Restricted Stock Unit
Exercise: $0.00From: 2025-03-08Exp: 2027-03-08→ Common Stock, No Par Value (13,212 underlying)
Footnotes (3)
- [F1]The reporting person acquired 501 shares of the Company's Common Stock as a result of the stock dividends payable to the reporting person upon the partial vesting of the RSUs grant.
- [F2]Restricted Stock Units (RSUs) convert into shares of the Company's Common Stock on a one-for-one basis.
- [F3]The RSUs vest annually in three equal installments commencing on March 10, 2026, the first anniversary of the holder's grant date. The second tranche will vest on March 10, 2027. The remaining RSUs will vest on March 10, 2028.