Bruce K. Lee - 28 Feb 2023 Form 4 Insider Report for HEARTLAND FINANCIAL USA INC

Role
HTLF President and CEO
Signature
/s/ Janet Emerson, as attorney-in-fact for Bruce K. Lee
Issuer symbol
N/A
Transactions as of
28 Feb 2023
Net transactions value
-$151,013
Form type
4
Filing time
02 Mar 2023, 15:14:00 UTC
Previous filing
24 Aug 2022
Next filing
08 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HTLF Common Stock Options Exercise $0 +9,737 +19% $0.000000 62,239 28 Feb 2023 Direct F1
transaction HTLF Common Stock Tax liability $151,013 -3,065 -4.9% $49.27 59,174 28 Feb 2023 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HTLF 2020 Performance Based Restricted Stock (3-year performance) Options Exercise $0 -12,646 -100% $0.000000* 0 28 Feb 2023 Common Stock 12,646 Direct F1, F3
transaction HTLF 2023 Time-Based Restricted Stock Award $0 +10,364 $0.000000 10,364 28 Feb 2023 Common Stock 10,364 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares earned upon vesting and settlement of Performance Restricted Stock Units ("Performance RSUs") awarded March 17, 2020, achievement of 77% of performance criteria.
F2 These shares were withheld from distribution at the request of reporting person to satisfy tax liability.
F3 Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock.
F4 Of these restricted stock units, 1/3 vest on 3-21-2024, 1/3 vest on 3-21-2025, and 1/3 vest on 3-21-2026.