Director at Heritage Global (HGBL) receives 20,000-share stock grant

Rhea-AI Filing Summary

Burnham William L reported acquisition or exercise transactions in this Form 4 filing.

Heritage Global Inc. director William L. Burnham reported an award of 20,000 shares of common stock on March 5, 2026. The shares are restricted and will vest in four equal 25% installments on June 5, 2026, September 5, 2026, December 5, 2026, and March 5, 2027. Following this grant, Burnham directly owns 70,000 shares of Heritage Global common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Burnham William L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	20,000	$0.00	--

Holdings After Transaction: Common Stock — 70,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Burnham William L

(Last) (First) (Middle)

9855 DOUBLE R BLVD, STE 125

(Street)

RENO NEVADA 89521

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Heritage Global Inc. [ HGBL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/05/2026		A		20,000(1)	A	$0	70,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares are restricted and will vest quarterly with 25% vesting on June 5, 2026; 25% vesting on September 5, 2026; 25% vesting on December 5, 2026; and 25% vesting on March 5, 2027

	/s/ William Burnham by James E. Sklar POA	03/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Heritage Global (HGBL) report for William L. Burnham?

Heritage Global director William L. Burnham reported a grant of 20,000 shares of common stock. The award was recorded at a price of $0.00 per share and increased his direct holdings to 70,000 shares after the transaction.

Are the 20,000 Heritage Global (HGBL) shares granted to William L. Burnham restricted?

Yes, the 20,000 shares granted to William L. Burnham are restricted stock. According to the footnote, they will vest over time rather than all at once, subject to a defined quarterly vesting schedule through March 5, 2027.

What is the vesting schedule for William L. Burnham’s 20,000-share Heritage Global (HGBL) grant?

The 20,000 restricted shares vest in four equal 25% installments. Vesting dates are June 5, 2026, September 5, 2026, December 5, 2026, and March 5, 2027, meaning 5,000 shares vest on each of those scheduled dates.

How many Heritage Global (HGBL) shares does William L. Burnham hold after this Form 4 transaction?

After this award, William L. Burnham directly owns 70,000 shares of Heritage Global common stock. This total includes the newly granted 20,000 restricted shares, which will vest over four quarterly installments beginning June 5, 2026.

Was William L. Burnham’s Heritage Global (HGBL) stock award an open-market purchase?

No, the transaction is coded as an “A” grant or award, not an open-market purchase. The shares were acquired as a compensation-related grant at a reported price of $0.00 per share, with vesting conditions over time.