0001127602-24-009634.txt : 20240312
0001127602-24-009634.hdr.sgml : 20240312
20240312135401
ACCESSION NUMBER: 0001127602-24-009634
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240308
FILED AS OF DATE: 20240312
DATE AS OF CHANGE: 20240312
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Jones Robertson Clay JR
CENTRAL INDEX KEY: 0001788938
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-23877
FILM NUMBER: 24741443
MAIL ADDRESS:
STREET 1: 150 ALMADEN BOULEVARD
CITY: SAN JOSE
STATE: CA
ZIP: 95113
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: HERITAGE COMMERCE CORP
CENTRAL INDEX KEY: 0001053352
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 770469558
STATE OF INCORPORATION: CA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 224 AIRPORT PARKWAY
CITY: SAN JOSE
STATE: CA
ZIP: 95110
BUSINESS PHONE: 4089476900
MAIL ADDRESS:
STREET 1: 224 AIRPORT PARKWAY
CITY: SAN JOSE
STATE: CA
ZIP: 95110
4
1
form4.xml
PRIMARY DOCUMENT
X0508
4
2024-03-08
0001053352
HERITAGE COMMERCE CORP
HTBK
0001788938
Jones Robertson Clay JR
224 AIRPORT PARKWAY
SAN JOSE
CA
95110
1
1
President and CEO
0
Common Stock, No Par Value
214207
D
Employee Stock Option (right to buy)
4.92
2019-10-11
2025-01-29
Heritage Commerce Corp - Common Stock
37050
37050
D
Employee Stock Option (right to buy)
10.74
2019-10-11
2028-07-01
Heritage Commerce Corp - Common Stock
49399
49399
D
Performance-Based Restricted Stock Unit
0
2026-05-02
2026-05-02
Common Stock, No Par Value
31477
31477
D
Restricted Stock Unit
0
2024-05-02
2026-05-02
Common Stock, No Par Value
31478
31478
D
Performance-Based Restricted Stock Unit
0
2024-03-08
4
A
0
39635
0
A
2027-03-08
2027-03-08
Common Stock, No Par Value
39635
39635
D
Restricted Stock Unit
0
2024-03-08
4
A
0
39636
0
A
2025-03-08
2027-03-08
Common Stock, No Par Value
39636
39636
D
Each performance-based restricted stock unit, or PRSU, represents a right to receive one share of Issuer common stock.
The PRSUs will vest depending upon the Issuer's Return on Average Tangible Common Equity ("ROATCE") over a three-year period ("Performance Period"), relative to companies in a peer group selected by the Issuer as of the grant date ("Peer Group"). If the Issuer's ROATCE is at the 35th percentile of the Peer Group at the end of the Performance Period then 50% of the PRSUs will vest. If the Issuer's ROATCE is at the 50th percentile at the end of the Performance Period then 100% of the PRSUs will vest. If the Issuer's ROATCE is at the 75th percentile at the end of the Performance Period then 150% of the PRSUs will vest. Vesting between performance levels will be determined by straight-line interpolation. None of the PRSUs will vest if the Issuer's ROATCE does not exceed the 35th threshold of the Peer Group.
Each restricted stock unit represents a right to receive one share of Issuer common stock.
The restricted stock units vest in three equal installments commencing March 8, 2025, the first anniversary of the holder's grant date.
/s/ Debbie Reuter as Attorney in fact for Robertson Clay Jones, JR.
2024-03-12