X0306 4 2020-04-30 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 2020-04-30 4 D 0 23234 10.26 D 446750 D Common Stock 2020-04-30 4 A 0 23234 10.26 A 687913 D Common Stock 2020-04-30 4 F 0 10305 10.26 D 677608 D Represents vested restricted stock units and dividend equivalent shares converted to Hercules Capital, Inc. common stock on April 30, 2020. Represents Hercules, Inc. common stock received from vested restricted stock units and dividend equivalent shares on April 30, 2020. Represents Hercules, Inc. common stock withheld to pay taxes applicable to the vesting of restricted stock units and dividend equivalent shares on April 30, 2020. Each restricted stock unit represents a contingent right to receive one share of Hercules Capital, Inc. stock. /s/ /Melanie Grace, Attorney-in-Fact for Scott Bluestein 2020-05-04