Hinson Donald 4

What Happened Donald Hinson, Chief Financial Officer of Heritage Financial Corp (HFWA), exercised stock-derived awards on 2026-03-16: 3,685 shares were exercised at $24.89 per share (aggregate exercise cost ≈ $91,721). The filing shows those 3,685 shares were immediately disposed (sold), and an additional 689 shares were surrendered to cover tax withholding (value ≈ $17,149). The report indicates the exercised shares were not retained.

Key Details

• Transaction date: 2026-03-16; Form 4 filed 2026-03-18 (timely filing).
• Exercise details: 850, 1,455, 203, and 1,177-share exercises at $24.89 each (total 3,685 shares; ≈ $91.7K).
• Dispositions: The same 3,685 shares were reported as immediately disposed (cashless/sale), plus 689 shares disposed to satisfy tax withholding (≈ $17.1K).
• Transaction codes: M = option exercise/conversion; F = payment of exercise price/tax liability (withholding).
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Footnotes (F1–F6): Refer to prior RSU/PSU grants and standard vesting schedules (e.g., awards under 2023/2024 Omnibus Equity Plans, some vesting one-third per year or contingent on performance).

Context This was an option exercise coupled with immediate disposition (a cashless exercise/sale) and tax withholding — a common executive liquidity event rather than an outright open-market purchase. Because the exercised shares were sold and additional shares were surrendered for taxes, the filing shows Hinson did not retain shares from this exercise; the net effect reported is a reduction of 689 shares from his prior holdings. The filing was made within the normal two-business-day window and carries no special 10b5-1 or late-filing notes.