Form 4: Raymond Hyer Transfers 500,000 Shares of Heritage Insurance Holdings to Family Foundation

Raymond T. Hyer, a director and 10% owner of Heritage Insurance Holdings, Inc., gifted 500,000 shares to the Hyer Family Foundation, Inc. on March 21, 2024.

Summary

• Raymond T. Hyer, a director and 10% owner of Heritage Insurance Holdings, Inc. (HRTG), filed a Form 4 on April 10, 2024, reporting a transaction that occurred on March 21, 2024.
• Mr. Hyer transferred 500,000 shares of HRTG common stock to the Hyer Family Foundation, Inc., a charitable foundation where he serves as President and a director.
• The transfer was classified as a gift (Transaction Code 'G').
• Following the transaction, Mr. Hyer directly owns 2,459,263 shares.
• Additionally, he indirectly owns shares through The Kathleen Hyer Revocable Trust (100,000 shares), Tara Tira (50,000 shares), Sean W. Poole (22,000 shares), Futura Circuits Corp. (460,000 shares), and Hyer Family Partnership, LLC (120,000 shares).
• Mr. Hyer shares voting and investment power over all securities owned by the foundation.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Industry Context

This filing is a routine disclosure of insider transactions and provides transparency regarding the ownership structure of Heritage Insurance Holdings.

Related Party Transactions

• Raymond T. Hyer transferred 500,000 shares to the Hyer Family Foundation, Inc., a charitable foundation of which Mr. Hyer is President and a director.

Stakeholder Impact

• The transfer of shares to the Hyer Family Foundation may have a minor impact on shareholders due to the change in ownership structure.
• The Hyer Family Foundation will benefit from the donation of shares.

Key Dates