Glasby William 4

What Happened

• William Glasby, EVP & Chief Information Officer of Heritage Financial (HFWA), exercised stock‑derivative awards on March 16, 2026. He converted a total of 5,291 derivative units at $24.89 per share (total reported value $131,693). To cover tax/exercise obligations, 1,338 shares were withheld (value $33,303), leaving a net 3,953 shares delivered to him.

Key Details

• Transaction date: March 16, 2026; price reported: $24.89 per share.
• Gross shares converted: 5,291; shares withheld for tax/exercise: 1,338; net shares received: 3,953.
• Reported dollar amounts: gross conversion $131,693; tax/withheld shares ~$33,303.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax withholding (shares withheld).
• Footnotes in the filing reference RSU awards under the 2023 and 2024 Omnibus Equity Plans and RSU grants in Feb 2024/Feb 2025 that vest one‑third per year (each RSU equals one share on vesting).
• Filing: Form 4 filed March 18, 2026 for transactions dated March 16, 2026 — appears timely (not flagged as late). The filing does not state total shares owned by Glasby after the transaction.

Context

• This was an option/derivative exercise (internal conversion), not an open‑market buy or sale. The withholding of 1,338 shares indicates a net‑settlement or share‑withholding to cover taxes/exercise costs rather than a cash tax payment. Such exercises are common form of equity compensation and are informational rather than direct market sentiment.