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

Role
HTLF President and CEO
Signature
/s/ Janet Emerson, as attorney-in-fact for Bruce K. Lee
Stock symbol
HTLF
Transactions as of
Feb 28, 2023
Transactions value $
-$151,013
Form type
4
Date filed
3/2/2023, 03:14 PM
Previous filing
Aug 24, 2022
Next filing
Mar 8, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HTLF Common Stock Options Exercise $0 +9.74K +18.55% $0.00 62.2K Feb 28, 2023 Direct F1
transaction HTLF Common Stock Tax liability -$151K -3.07K -4.92% $49.27 59.2K Feb 28, 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 -12.6K -100% $0.00* 0 Feb 28, 2023 Common Stock 12.6K Direct F1, F3
transaction HTLF 2023 Time-Based Restricted Stock Award $0 +10.4K $0.00 10.4K Feb 28, 2023 Common Stock 10.4K 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.