Form 4: Hercules Capital CEO Scott Bluestein Reports Routine Stock Transaction for Tax Purposes

Hercules Capital, Inc. CEO Scott Bluestein reported the disposition of 10,593 shares of common stock valued at $18.56 per share, primarily for tax obligations related to restricted stock vesting.

Summary

• Scott Bluestein, Chief Executive Officer of Hercules Capital, Inc. (HTGC), reported a change in beneficial ownership.
• On July 9, 2025, 10,593 shares of common stock were disposed of at a price of $18.56 per share.
• This disposition was due to shares being withheld to cover tax liabilities associated with the vesting of restricted stock.
• Following this transaction, Scott Bluestein beneficially owns 2,281,611 shares of Hercules Capital, Inc. common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine tax-related disposition of shares upon vesting of restricted stock, which is a neutral event in terms of company performance or outlook.

Positives

• The transaction indicates the vesting of restricted stock, which is a form of equity compensation for the CEO, aligning management's interests with shareholders over the long term.

Negatives

• The CEO's direct beneficial ownership of common stock decreased by 10,593 shares.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This filing is a routine insider transaction common across all publicly traded companies when executive equity compensation vests and shares are withheld for tax purposes. It does not provide specific insights into broader industry trends for the business development company (BDC) sector in which Hercules Capital operates.

Comparison to Industry Standards

• This type of transaction (shares withheld for tax on restricted stock vesting) is a standard practice for executive compensation in publicly traded companies across various industries. It does not provide a basis for comparison to specific comparable companies, projects, or results beyond noting the routine nature of such events.

Related Party Transactions

• This is an insider transaction involving the CEO's compensation, which is a form of related party dealing, but it is a standard, disclosed event.

Stakeholder Impact

• Shareholders: A very minor, negligible dilution due to the shares withheld for tax purposes.
• Employees: No direct impact on general employees.
• Customers, Suppliers, Creditors: No direct impact.

Key Dates

Keywords

Hercules Capital, HTGC, Scott Bluestein, CEO, Form 4, Insider Transaction, Stock Ownership, Restricted Stock, Tax Withholding, Beneficial Ownership