Heritage Commerce Corp. Announces Board and Executive Changes
Ticker: HTBK · Form: 8-K · Filed: Mar 6, 2024 · CIK: 1053352
| Field | Detail |
|---|---|
| Company | Heritage Commerce Corp (HTBK) |
| Form Type | 8-K |
| Filed Date | Mar 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
TL;DR
Heritage Commerce Corp. shuffled its board and exec comp. Big changes coming?
AI Summary
Heritage Commerce Corp. announced on March 6, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial outlook, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate underlying issues or strategic shifts that may affect the company's future performance and stability.
Key Players & Entities
- Heritage Commerce Corp (company) — Registrant
- March 6, 2024 (date) — Date of earliest event reported
FAQ
Who are the specific officers or directors departing from Heritage Commerce Corp.?
The filing indicates the departure of certain officers and directors but does not list their specific names in the provided text.
When did the reported changes take effect?
The earliest event reported is dated March 6, 2024, which is also the date of the report.
What are the key items being reported in this 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the principal executive office address for Heritage Commerce Corp.?
The principal executive offices are located at 224 Airport Parkway, San Jose, California 95110.
What is the IRS Employer Identification Number for Heritage Commerce Corp.?
The IRS Employer Identification Number for Heritage Commerce Corp. is 77-0469558.
Filing Stats: 470 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-03-06 17:02:17
Filing Documents
- tm248140d1_8k.htm (8-K) — 22KB
- 0001104659-24-031529.txt ( ) — 189KB
- htbk-20240306.xsd (EX-101.SCH) — 3KB
- htbk-20240306_lab.xml (EX-101.LAB) — 33KB
- htbk-20240306_pre.xml (EX-101.PRE) — 22KB
- tm248140d1_8k_htm.xml (XML) — 3KB
02 DEPARTURE
ITEM 5.02 DEPARTURE OF CERTAIN OFFICERS On March 6, 2024, Heritage Commerce Corp ("Company"), the holding company for Heritage Bank of Commerce ("Bank") received a letter from Executive Vice President and Chief People and Culture Officer Janice Y. Coonley, notifying the Company of Ms. Coonley's resignation. The resignation will be effective at a date mutually agreed by the Company and Ms. Coonley, which is expected to occur in May 2024. Ms. Coonley's stated reason for her departure is personal relocation outside of the Bank's market area. Ms. Coonley and President and Chief Executive Officer Robertson "Clay" Jones announced that Ms. Coonley would assist in the recruitment and selection of her successor.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: March 6, 2024 Heritage Commerce Corp By: /s/ Lawrence D. McGovern Name: Lawrence D. McGovern Title: Executive Vice President and Chief Financial Officer