LAWRENCE D. MCGOVERN - 17 Nov 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
Issuer symbol: HTBK
Transactions as of: 17 Nov 2022
Net transactions value: -$108,742
Form type: 4
Filing time: 18 Nov 2022, 17:18:46 UTC
Previous filing: 06 Jun 2022
Next filing: 04 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HTBK	Common Stock, No Par Value	Options Exercise	$98,550	+15,000	+17%	$6.57	104,529	17 Nov 2022	Indirect by Trust
transaction	HTBK	Common Stock, No Par Value	Options Exercise	$121,050	+15,000	+14%	$8.07	119,529	17 Nov 2022	Indirect by Trust
transaction	HTBK	Common Stock, No Par Value	Sale	$328,342	-22,500	-19%	$14.59	97,029	17 Nov 2022	Indirect by Trust	F1
holding	HTBK	Common Stock, No Par Value						32,702	17 Nov 2022	Direct
holding	HTBK	Common Stock, No Par Value						4,980	17 Nov 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	-15,000	-100%	$0.000000^*	0	17 Nov 2022	Common Stock, No Par Value	15,000	$6.57	Direct
transaction	HTBK	Standard Employee Option - NSO	Options Exercise	$0	-15,000	-100%	$0.000000^*	0	17 Nov 2022	Common Stock, No Par Value	15,000	$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.