X0202 4 2006-05-19 0 0001320002 Heritage Financial Group HBOS 0001325809 Slappey Carol W C/O HERITAGE FINANCIAL GROUP 310 WESTE OGLETHORPE BOULEVARD ALBANY GA 31701 1 1 0 0 President Common Stock 2006-05-19 4 A 0 27540 0 A 38311 D Common Stock 2755 I By IRA Common Stock 3500 I By Spouse Stock Appreciation Right 12.54 2006-05-19 4 A 0 69000 0 A 2007-05-19 2016-05-16 Common Stock 69000 69000 D Stock Option ("Right to Buy") 12.54 2006-05-19 4 A 0 69000 0 A 2007-05-19 2016-05-19 Common Stock 69000 69000 D Transaction represents an award of restricted stock under the issuer's 2006 Equity Incentive Plan. The shares are scheduled to vest in five equal annual installments beginning on May 19, 2007. Reflects ESOP allocation that has occured since the date of the reporting person's last ownership report. The stock appreciation rights and employee stock options were granted in tandem. Accordingly, the exercise of one results in the expiration of the other. Transaction represents an award of stock appreciation rights under the issuer's 2006 Equity Incentive Plan. The rights are scheduled to vest in five equal annual installments beginning on May 19, 2007. Transaction represents an award of stock options under the issuer's 2006 Equity Incentive Plan. The options are scheduled to vest in five equal annual installments beginning on May 19, 2007. /s/ Tammy W. Burdette, POA 2006-05-23