X0202 4 2006-05-19 0 0001320002 Heritage Financial Group HBOS 0001325804 Dorminey Leonard C/O HERITAGE FINANCIAL GROUP 310 WEST OGLETHORPE BOULEVARD ALBANY GA 31701 1 1 0 0 President and CEO Common Stock 2006-05-19 4 A 0 53300 0 A 54354 D Common Stock 8360 I By IRA Common Stock 6967 I By 401(k) Common Stock 10000 I By Spouse Common Stock 2500 I By Son Common Stock 2500 I By Daughter Stock Appreciation Right 12.54 2006-05-19 4 A 0 133000 0 A 2007-05-19 2016-05-19 Common Stock 133000 133000 D Stock Option ("Right to Buy") 12.54 2006-05-19 4 A 0 133000 0 A 2007-05-19 2016-05-19 Common Stock 133000 133000 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. Includes 5 shares acquired on reinvestment of dividends received in Issuer's shares in Issuer's 401(k) since the date of the 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