Form 4: Heritage Commerce Corp Merger Completion Form 4

Director Christopher J. Abate reports the disposal of all Heritage Commerce Corp shares following the company's merger with CVB Financial Corp.

Summary

• Christopher J. Abate, a Director of Heritage Commerce Corp (HTBK), reported the disposal of 6,980 shares of common stock.
• The transaction occurred on April 17, 2026, in connection with the completion of the merger between Heritage Commerce Corp and CVB Financial Corp (CVBF).
• Under the terms of the merger agreement, each share of Heritage Commerce Corp common stock was cancelled and converted into the right to receive 0.65 shares of CVBF common stock.
• All outstanding restricted stock awards held by the director were accelerated and converted into the merger consideration.

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 transaction with CVB Financial Corp.
• Full acceleration and conversion of restricted stock awards for the reporting person.

Negatives

• The reporting person no longer holds any direct beneficial ownership in Heritage Commerce Corp as the entity has been acquired.

Risks

• Integration risks associated with the merger between Heritage Commerce Corp and CVB Financial Corp.

Future Outlook

The company has been acquired by CVB Financial Corp; therefore, no further independent guidance for Heritage Commerce Corp is provided.

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 stock-for-stock exchange ratio.
• The acceleration of restricted stock awards upon a change-in-control event is consistent with standard executive compensation agreements in the financial services sector.

Stakeholder Impact

• Shareholders of Heritage Commerce Corp have received CVB Financial Corp shares as per the exchange ratio.
• The board and management structure of Heritage Commerce Corp is superseded by the acquiring entity.

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