Form 4: Hercules Capital Chief Legal Officer Reports Routine Stock Transaction for Tax Withholding

Kiersten Zaza Botelho, Chief Legal Officer of Hercules Capital, Inc., reported the withholding of 770 shares of common stock valued at $18.94 per share to cover tax obligations related to restricted stock vesting.

Summary

• Kiersten Zaza Botelho, Chief Legal Officer & CCO of Hercules Capital, Inc. (HTGC), reported a transaction involving common stock.
• On July 11, 2025, 770 shares of common stock were disposed of at a price of $18.94 per share.
• This transaction represents shares withheld to pay taxes applicable to the vesting of restricted stock.
• Following this transaction, Botelho beneficially owns 65,881 shares of common stock directly.

Sentiment

Score: 6

Explanation: The transaction is a routine tax withholding related to restricted stock vesting, which is a neutral to slightly positive event as it signifies compensation earned by an executive. It does not indicate any significant operational or financial changes for the company.

Positives

• The transaction indicates the vesting of restricted stock, which is a positive event for the executive, reflecting compensation earned.

Negatives

• No direct negatives are indicated by this routine tax withholding transaction.

Future Outlook

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

Industry Context

This is a routine insider transaction filing, common across all publicly traded companies, and does not reflect broader industry trends. It specifically relates to executive compensation practices within Hercules Capital, Inc.

Comparison to Industry Standards

• This is a standard Form 4 filing for tax withholding on vested restricted stock, a common practice for executive compensation across publicly traded companies. No specific comparable companies or projects are relevant for this type of routine disclosure.

Related Party Transactions

• The transaction involves the withholding of shares by Hercules Capital, Inc. from its Chief Legal Officer, Kiersten Zaza Botelho, to cover tax obligations related to her restricted stock vesting, which is a standard compensation-related dealing between a company and its executive.

Stakeholder Impact

• Shareholders: Minimal direct impact as it is a routine executive compensation event and involves a small number of shares relative to total outstanding.
• Employees: No direct impact on general employees.
• Management: The Chief Legal Officer received vested stock, indicating earned compensation.

Key Dates

Keywords

Hercules Capital, HTGC, SEC Form 4, insider transaction, stock vesting, tax withholding, common stock, Kiersten Zaza Botelho, Chief Legal Officer