Lawrence D. Mcgovern - Nov 17, 2022 Form 4 Insider Report for HERITAGE COMMERCE CORP (HTBK)

Role: EVP/CFO
Signature: /s/ Debbie Reuter as Attorney in fact for Lawrence D. McGovern
Stock symbol: HTBK
Transactions as of: Nov 17, 2022
Transactions value $: -$108,743
Form type: 4
Date filed: 11/18/2022, 05:18 PM
Previous filing: Jun 6, 2022
Next filing: May 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HTBK	Common Stock, No Par Value	Options Exercise	$98.6K	+15K	+16.75%	$6.57	105K	Nov 17, 2022	Indirect by Trust
transaction	HTBK	Common Stock, No Par Value	Options Exercise	$121K	+15K	+14.35%	$8.07	120K	Nov 17, 2022	Indirect by Trust
transaction	HTBK	Common Stock, No Par Value	Sale	-$328K	-22.5K	-18.82%	$14.59	97K	Nov 17, 2022	Indirect by Trust	F1
holding	HTBK	Common Stock, No Par Value						32.7K	Nov 17, 2022	Direct
holding	HTBK	Common Stock, No Par Value						4.98K	Nov 17, 2022	Indirect by IRA

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	HTBK	Standard Employee Option - NSO	Options Exercise	$0	-15K	-100%	$0.00^*	0	Nov 17, 2022	Common Stock, No Par Value	15K	$6.57	Direct
transaction	HTBK	Standard Employee Option - NSO	Options Exercise	$0	-15K	-100%	$0.00^*	0	Nov 17, 2022	Common Stock, No Par Value	15K	$8.07	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.5580 to $14.6108, inclusive. The reporting person undertakes to provide to Heritage Commerce Corp, any security holder of Heritage Commerce Corp, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.5580 to $14.6108, inclusive. The reporting person undertakes to provide to Heritage Commerce Corp, any security holder of Heritage Commerce Corp, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.