HERITAGE FINANCIAL CORP /WA/
For the period ended Mar 20, 2026. Filed Mar 20, 2026.
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Mar 20, 2026 · Filed Mar 20, 2026
Contents
Outstanding Equity Awards Table
The following table shows the unvested stock awards held by our NEOs as of December 31, 2025. There were no outstanding stock options as of December 31, 2025.
| Stock Awards | ||||||
|---|---|---|---|---|---|---|
| Name · Grant Date · Number of Shares or Units That Have Not Vested (#) · Market Value of Shares or Units of Stock That Have Not Vested ($) (1) · Equity Incentive Plan Awards Number of Unearned Shares or Units of Stock that Have Not Vested (#) (2) · Equity Incentive Plan Awards Market Value of Unearned Shares or Units of Stock that Have Not Vested ($) (3) | ||||||
| Jeffrey J. Deuel | 02/22/2023 | 2,339 | (4) | 55,317 | 7,018 | 165,976 |
| 02/26/2024 | 7,832 | (4) | 185,227 | 11,747 | 277,817 | |
| 02/25/2025 | 9,045 | (4) | 213,914 | 9,045 | 213,914 | |
| Bryan D. McDonald | 02/22/2023 | 1,115 | (4) | 26,370 | 3,345 | 79,109 |
| 02/26/2024 | 3,733 | (4) | 88,285 | 5,599 | 132,416 | |
| 02/25/2025 | 5,231 | (4) | 123,713 | 5,232 | 123,737 | |
| Donald J. Hinson | 02/22/2023 | 850 | (4) | 20,103 | 2,549 | 60,284 |
| 02/26/2024 | 2,911 | (4) | 68,845 | 4,366 | 103,256 | |
| 02/25/2025 | 3,531 | (4) | 83,508 | 3,530 | 83,485 | |
| Tony W. Chalfant | 06/25/2020 | 1,316 | (5) | 31,123 | — | — |
| 02/22/2023 | 733 | (4) | 17,335 | 2,200 | 52,030 | |
| 02/26/2024 | 2,455 | (4) | 58,061 | 3,682 | 87,079 | |
| 02/25/2025 | 2,977 | (4) | 70,406 | 2,977 | 70,406 | |
| Nicholas M. Bley | 12/18/2024 | 9,715 | (6) | 229,760 | — | — |
| Matthew T. Ray | 03/01/2018 | 1,512 | (4) | 35,759 | — | — |
| 02/22/2022 | 310 | (4) | 7,332 | — | — | |
| 02/22/2023 | 662 | (4) | 15,656 | — | — | |
| 02/22/2023 | 4,244 | (4) | 100,371 | — | — | |
| 02/26/2024 | 3,328 | (4) | 78,707 | — | — | |
| 12/18/2024 | 3,332 | (6) | 78,802 | — | — | |
| 02/25/2025 | 3,004 | (4) | 71,045 | 3,004 | 71,045 | |
(1)The amounts in the "Market Value of Shares or Units of Stock That Have Not Vested" column represent grants of service-based restricted units of Heritage common stock. The market value of these units is the number of units that had not vested as of December 31, 2025 multiplied by $23.65, the closing price of Heritage common stock on December 31, 2025.
(2)The amounts in the "Equity Incentive Plan Awards Number of Unearned Shares or Units of Stock that Have Not Vested" reflect outstanding performance-based stock units assuming: target level performance for the three-year total shareholder return goal for shares granted in 2023, 2024, and 2025 and the return on average tangible common equity goal for shares granted in 2023, 2024 and 2025. The performance stock units cliff vest after three years and are measured relative to peers for total shareholder return and return on average tangible common equity.
(3)The amounts in the "Equity Incentive Plan Awards Market Value of Unearned Shares or Units of Stock That Have Not Vested" column represent the market value of unearned performance-based restricted stock units that had not vested as of December 31, 2025 multiplied by $23.65, the closing price of Heritage common stock on December 31, 2025.
(4)The restricted stock unit awards vest ratably over three years from the date of grant as of March 15th annually.
(5)The restricted stock unit awards vest ratably over six years from the date of grant as of June 15th annually.
(6)The restricted stock unit awards vest ratably over three years from the date of grant as of December 15th annually.
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