David Van Ludwig - Mar 28, 2022 Form 4 Insider Report for Heritage Global Inc. (HGBL)

Role: President of subsidiary, Director
Signature: /s/ David Van Ludwig by James E. Sklar POA
Stock symbol: HGBL
Transactions as of: Mar 28, 2022
Transactions value $: -$4,109
Form type: 4
Date filed: 3/30/2022, 05:45 PM
Previous filing: Mar 25, 2022
Next filing: Aug 16, 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HGBL	Common Stock	Tax liability	-$19K	-14K	-1.33%	$1.36	1.03M	Mar 28, 2022	Direct
transaction	HGBL	Common Stock	Options Exercise	$14.9K	+21.3K	+2.07%	$0.70^*	1.05M	Mar 28, 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HGBL	Option to purchase common stock	Options Exercise	$0	-21.3K	-50%	$0.00	21.3K	Mar 28, 2022	Common Stock	21.3K	$0.70	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Options were granted 6/1/2019 and vest 25% annually beginning on the first anniversary of the grant date.