Form 4: Heritage Commerce Corp Merger Completion Form 4

Jeannie Tam reports the disposition of Heritage Commerce Corp shares following the company's merger with CVB Financial Corp.

Summary

• Jeannie Tam, SVP/Chief Accounting Officer, reported the disposition of 6,233 shares of Heritage Commerce Corp common stock.
• The transaction occurred on April 17, 2026, due to the consummation of the merger between Heritage Commerce Corp and CVB Financial Corp.
• Each share of Heritage Commerce Corp was converted into the right to receive 0.65 shares of CVB Financial Corp common stock.
• Restricted stock units were converted into substitute restricted stock unit awards denominated in CVB Financial Corp common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing confirming the completion of a previously announced merger.

Positives

• Successful completion of the merger agreement dated December 17, 2025.
• Acceleration of outstanding restricted stock awards upon the effective time of the merger.

Negatives

• Heritage Commerce Corp common stock has been cancelled and converted, effectively ending its status as an independent publicly traded entity.

Risks

• Integration risks associated with the merger between Heritage Commerce Corp and CVB Financial Corp.
• Market volatility risks for shareholders receiving CVB Financial Corp stock as merger consideration.

Future Outlook

The company has been acquired by CVB Financial Corp; therefore, no further independent guidance or forward-looking statements are provided for Heritage Commerce Corp.

Management Comments

• The transaction was executed pursuant to the Agreement and Plan of Reorganization and Merger dated December 17, 2025.

Industry Context

StockSavvy.ai notes that this filing confirms the finalization of a regional banking consolidation, reflecting the ongoing trend of M&A activity in the U.S. banking sector to achieve scale and operational efficiencies.

Comparison to Industry Standards

• The merger follows standard industry practices for regional bank acquisitions, utilizing a fixed exchange ratio to provide continuity for shareholders.

Stakeholder Impact

• Shareholders of Heritage Commerce Corp have had their holdings converted into CVB Financial Corp common stock.
• Employees and officers are subject to the integration plans of the acquiring entity, CVB Financial Corp.

Next Steps

• Final delisting of Heritage Commerce Corp common stock from public exchanges.

Key Dates

Keywords

Heritage Commerce Corp, HTBK, CVB Financial Corp, Merger, Form 4, Insider Transaction, Acquisition