X0306 4 2020-03-09 0001280784 Hercules Capital, Inc. HTGC 0001505910 Bluestein Scott C/O HERCULES CAPITAL, INC. 31 ST. JAMES AVENUE, SUITE 790 BOSTON MA 02116 1 Chief Executive Officer Restricted Stock Units 2020-03-09 4 A 0 13021 14.08 A 470699 D Includes additional Dividend Shares relating to deemed reinvested dividend equivalent rights that accrued on Restricted Stock Units (RSUs) previously granted. Such additional Dividend Shares are in the form of additional RSUs vest and are settled at the same time as the RSUs in respect of which the dividend equivalent rights accrued. Each such additional Dividend Share RSU is the economic equivalent of one share of Hercules Capital, Inc. common stock. /s/ /Melanie Grace, Attorney-in-Fact for Scott Bluestein 2020-03-11