Form 4: Heritage Insurance Chairman Sells 100,000 Shares

Heritage Insurance Holdings Chairman Richard A. Widdicombe sold 100,000 shares of common stock for approximately $2.4 million through a pre-arranged trading plan.

Summary

• Richard A. Widdicombe, Chairman and Director of Heritage Insurance Holdings, Inc. (HRTG), sold a total of 100,000 shares of common stock on September 16, 2025.
• The sales were executed in two separate transactions: 57,138 shares at a weighted average price of $23.88 per share (ranging from $23.40 to $24.39) and 42,862 shares at a weighted average price of $24.52 per share (ranging from $24.44 to $24.64).
• The total proceeds from these sales amount to approximately $2,419,000.
• Following these transactions, Widdicombe's direct beneficial ownership in Heritage Insurance Holdings, Inc. stands at 599,047 shares of common stock.
• The transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan for the purchase or sale of equity securities.

Sentiment

Score: 4

Explanation: The sale of 100,000 shares by a key insider, even under a 10b5-1 plan, generally carries a slightly negative to neutral sentiment as it reduces insider ownership. The pre-scheduled nature mitigates immediate negative implications but does not eliminate the signal of reduced personal stake.

Positives

• The sale was conducted under a Rule 10b5-1(c) plan, indicating it was pre-scheduled and not necessarily a reaction to recent company performance or immediate future outlook.

Negatives

• A significant reduction of 100,000 shares in direct beneficial ownership by a key executive and director, which could be perceived negatively by investors.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may interpret the insider sale as a signal of reduced confidence, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

While the sale by the Chairman is significant, the fact that it was executed under a Rule 10b5-1 plan suggests it was a pre-scheduled event for personal financial planning rather than a reaction to new, adverse company developments. Investors should monitor future insider activity and company performance, but this single transaction, given its nature, does not warrant an immediate 'sell' recommendation. A 'hold' stance is appropriate, advising caution and further observation.

Keywords

Heritage Insurance Holdings, HRTG, Richard A. Widdicombe, Insider Sale, Form 4, Stock Transaction, Director, Chairman, 10b5-1 Plan