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