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HFWA

Heritage Financial Filed an Insider Sale. The Form 4 provides the context

May 10, 2026 — 09:24 am EDT

Written by

Seena Hassouna for

The Motley Fool->

Key Points

- Robison disposed of 5,439 shares across direct and indirect accounts, yielding a transaction value of ~$150,000 based on the weighted average price of $27.60 per share on May 1, 2026.

- The transaction represented 14.18% of Robison's total equity position, with 100.00% of indirect holdings fully sold and direct holdings reduced by 2.13%.

- Direct sales were 716 shares, while 4,723 shares were sold from indirect holdings, leaving only direct ownership (32,931 shares) post-transaction.

- This is Robison's first open-market sale in over a year, with the size reflecting a material reduction in indirect exposure while retaining a meaningful direct stake in the company.

- 10 stocks we like better than Heritage Financial ›

Sabrina C Robison, EVP Chief HR Officer at Heritage Financial Corporation (NASDAQ:HFWA), reported open-market sales totaling 5,439 shares for proceeds of approximately $150,000 as disclosed in the SEC Form 4 filing.

Transaction summary

MetricValueShares sold5,439Shares sold (direct)716Shares sold (indirect)4,723Transaction value$150,099Post-transaction shares (direct)32,931Post-transaction shares (indirect)0Post-transaction value (direct ownership)~$901KTransaction value based on SEC Form 4 weighted average purchase price ($27.60); post-transaction value based on May 1, 2026 market close ($27.37).

Key questions

- How does this transaction affect Robison's overall equity exposure?

The transaction eliminated all indirect holdings, resulting in Robison holding 32,931 shares directly, which reflects a continued material position in Heritage Financial Corporation.

- Was the sale spread between direct and indirect holdings, and what entities were involved?

Yes; 716 shares were sold from direct ownership, while 4,723 shares were sold from indirect accounts, indicating a full exit from indirect entities and a partial reduction in direct holdings.

- What is the context of this transaction relative to Robison's trading history?

This is Robison's first open-market sale in over a year, following a pattern of administrative transactions, and marks a shift from prior passive holding to active disposition of indirect shares.

- How does the sale price compare to recent market levels and the stock's performance?

The weighted average sale price was $27.60 per share, which is in line with the closing price of $27.37 on May 1, 2026, during a period when Heritage Financial Corporation shares delivered a 24.7% one-year total return as of the transaction date.

Company overview

MetricValueRevenue (TTM)$354.07 millionNet income (TTM)$72.57 millionDividend yield3.83%Price (as of market close 2026-05-08)$27.52Company snapshot

- Heritage Financial offers a range of deposit products, commercial and industrial loans, real estate loans, SBA-guaranteed loans, and trust services, primarily through a network of 49 banking offices in Washington and Oregon.

- HFWA serves small and medium-sized businesses, professionals, and individuals seeking banking and financial solutions in the Pacific Northwest.

Heritage Financial Corporation is a regional bank holding company with a focus on community banking in Washington and Oregon. The company leverages a diversified loan portfolio and deposit base to drive stable earnings and support shareholder returns through consistent dividends. Its strategic emphasis on local markets and relationship banking provides a competitive edge in serving business and retail clients.

What this transaction means for investors

The part worth paying attention to is what Robison sold — not just how much. The bulk of these shares, roughly 4,700, came out of a 401(k) plan, which is now at zero. That kind of move is usually about personal financial planning: rebalancing a retirement account, reducing single-stock concentration, or meeting a distribution requirement. It carries less signal than a discretionary open-market sale of direct shares, which was a comparatively small 716 shares. She still holds nearly 33,000 shares directly, so she's not walking away from the stock. The sale happened near the top of the 52-week range after a strong one-year run — a reasonable time to take some chips off the table regardless of your outlook. For a Chief HR Officer, whose role doesn't typically come with the kind of operational visibility a CFO or COO has, this transaction is about as low-signal as insider selling gets.

Should you buy stock in Heritage Financial right now?

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