X0202 4 2006-05-19 0 0001320002 Heritage Financial Group HBOS 0001325811 Burdette Tammy W C/O HERITAGE FINANCIAL GROUP 310 WESTE OGLETHORPE BOULEVARD ALBANY GA 31701 1 1 0 0 Executive VP and CFO Common Stock 2006-05-19 4 A 0 18290 0 A 23088 D Common Stock 6025 I By 401(k) Common Stock 1000 I By Minor Son (Jason) Common Stock 1000 I By Minor Son (Jeffrey) Stock Appreciation Right 12.54 2006-05-19 4 A 0 46000 0 A 2007-05-19 2016-05-19 Common Stock 46000 46000 D Stock Option ("Right to Buy") 12.54 2006-05-19 4 A 0 46000 0 A 2007-05-19 2016-05-19 Common Stock 46000 46000 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 occurred since the date of the reporting person's last ownership report. Includes 27 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 2006-05-23