Garateix Ernie J 4
4 · Heritage Insurance Holdings, Inc. · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
Heritage Insurance (HRTG) CEO Ernie Garateix Receives Stock Awards
What Happened
Ernie J. Garateix, CEO of Heritage Insurance Holdings, Inc. (HRTG), was granted two equity awards on March 5, 2026 totaling 107,085 shares: 25,960 shares of restricted stock (grant A, $0.00 per share) and 81,125 shares of performance-based restricted stock (grant A, $0.00 per share). The awards were reported on a Form 4 filed March 9, 2026. These were compensation grants (acquired at $0) rather than open‑market purchases or sales.
Key Details
- Transaction date: March 5, 2026; Filing date: March 9, 2026 (timely under the two-business-day rule).
- Grants and prices reported:
- 25,960 restricted shares @ $0.00 (Footnote F1)
- 81,125 performance-based restricted shares @ $0.00 (Footnote F2)
- Shares owned after transaction: Not specified in the filing provided.
- Footnotes:
- F1: The 25,960 restricted shares vest in three installments — 8,653 on 12/15/2026, 8,653 on 12/15/2027 and 8,654 on 12/15/2028.
- F2: The 81,125 performance-based shares cover a three-year performance period (1/1/2026–12/31/2028); vesting occurs after the period (no later than 3/30/2029) and the number earned may decrease based on performance results.
Context
These awards are standard executive compensation: time‑based restricted stock vests on scheduled dates, while performance-based shares depend on multi-year company results and may be reduced. Because these were grants (not purchases or sales), they do not directly signal an insider buying or selling shares on the open market.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-05+25,960→ 1,146,130 total - Award
Common Stock
[F2]2026-03-05+81,125→ 1,227,255 total
Footnotes (2)
- [F1]Represents an award of restricted stock granted to the Reporting Person. The restricted stock vests in three installments of 8,653 shares on December 15, 2026, 8,653 shares on December 15, 2027 and 8,654 shares on December 15, 2028.
- [F2]Represents an award of performance based restricted stock granted to the Reporting Person. The performance based restricted stock has a three-year performance period beginning on January 1, 2026 and ending on December 31, 2028 and will vest following the end of the performance period but no later than March 30, 2029. The number of shares that will be earned at the end of the performance period is subject to decrease based on the results of the performance condition.