Form 4: HRTG Chief Accounting Officer's Tax-Related Stock Transaction

Heritage Insurance Holdings' Chief Accounting Officer, Sharon Binnun, reported a disposition of shares to cover tax liabilities from vested restricted stock.

Summary

• Sharon Binnun, Chief Accounting Officer of Heritage Insurance Holdings, Inc. (HRTG), disposed of 36,274 shares of common stock.
• The transaction occurred on March 12, 2026, at a price of $28.14 per share.
• These shares were withheld to satisfy tax liability upon the vesting of previously awarded performance-based restricted stock.
• Following this transaction, Sharon Binnun beneficially owns 150,281 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. It's a routine, non-discretionary transaction for tax purposes related to equity compensation, indicating performance targets were met, but not a strategic move by the officer.

Positives

• The vesting of performance-based restricted stock indicates that underlying performance targets were met, which is generally a positive indicator for the company's operational success.

Negatives

• The disposition of 36,274 shares, while for tax purposes, results in a reduction of the Chief Accounting Officer's direct beneficial ownership in the company.

Industry Context

StockSavvy.ai notes that tax-related dispositions of vested restricted stock are common and routine events for executives receiving equity compensation across various industries, including insurance. This transaction does not reflect a discretionary sale based on market sentiment.

Related Party Transactions

• Sharon Binnun, Chief Accounting Officer, disposed of 36,274 shares of common stock to satisfy tax liability on the vesting of performance-based restricted stock, which is a transaction between an insider and the company related to compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes. The underlying vesting of restricted stock suggests performance targets were met, which is generally positive.
• Employees: No direct impact mentioned.
• Management: The Chief Accounting Officer's beneficial ownership decreased by the amount of shares withheld for taxes, but overall equity compensation is being realized.

Key Dates

Keywords

Heritage Insurance Holdings, HRTG, Sharon Binnun, Chief Accounting Officer, Form 4, Insider Transaction, Restricted Stock, Tax Withholding, Equity Compensation, Beneficial Ownership