# EDGAR Filing Document

**Accession Number:** 0001066605
**File Stem:** 0001066605-23-000023
**Filing Date:** 2023-3
**Character Count:** 9465
**Document Hash:** 692f53d6a633c4ab8d476b97c6df0b2b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001066605-23-000023.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001066605-23-000023

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230309

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Payne Sarah
- **CENTRAL INDEX KEY:** 0001764815

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-25837
- **FILM NUMBER:** 23727894

**MAIL ADDRESS:**
- **STREET 1:** 233 S. WACKER DRIVE
- **STREET 2:** SUITE 4900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HEIDRICK & STRUGGLES INTERNATIONAL INC
- **CENTRAL INDEX KEY:** 0001066605
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EMPLOYMENT AGENCIES [7361]
- **IRS NUMBER:** 362681268
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 233 S WACKER DRIVE
- **STREET 2:** SUITE 4900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606-6303
- **BUSINESS PHONE:** 3124961200

**MAIL ADDRESS:**
- **STREET 1:** 233 S WACKER DRIVE
- **STREET 2:** SUITE 4900
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>Payne Sarah<br><sub>(Last) (First) (Middle)</sub><br>C/O HEIDRICK & STRUGGLES INT'L INC.<br>233 S. WACKER DR. SUITE 4900<br><sub>(Street)</sub><br>CHICAGO, IL 60606<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chief Human Resources Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>HEIDRICK & STRUGGLES INTERNATIONAL INC [ HSII ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock<sup>(1)</sup> | 2023-03-09 |  | M |  | 2134 | A | 33<sup>(2)</sup> | 8825.261 | D |  |
| Common Stock<sup>(3)</sup> | 2023-03-09 |  | F |  | 669 | D | $33 | 8156.261 | D |  |
| Common Stock<sup>(4)</sup> | 2023-03-09 |  | A |  | 7823 | A | 33<sup>(5)</sup> | 15979.261 | D |  |
| Common Stock<sup>(6)</sup> | 2023-03-09 |  | F |  | 2452 | D | $33 | 13527.261 | D |  |
| Common Stock<sup>(7)</sup> | 2023-03-09 |  | M |  | 1579 | A | 33<sup>(2)</sup> | 15106.261 | D |  |
| Common Stock<sup>(8)</sup> | 2023-03-09 |  | F |  | 495 | D | $33 | 14611.261 | D |  |
| Common Stock<sup>(9)</sup> | 2023-03-09 |  | M |  | 1525 | A | 33<sup>(2)</sup> | 16136.261 | D |  |
| Common Stock<sup>(10)</sup> | 2023-03-09 |  | F |  | 478 | D | $33 | 15658.261 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 2020 Restricted Stock Units | <sup>(2)</sup> | 2023-03-09 |  | M |  |  | 2134 | <sup>(11)</sup> | <sup>(11)</sup> | Common Stock | 2134.0 | $0 | 0 | D |  |
| 2021 Restricted Stock Units | <sup>(2)</sup> | 2023-03-09 |  | M |  |  | 1579 | <sup>(12)</sup> | <sup>(12)</sup> | Common Stock | 1579.0 | $0 | 1579 | D |  |
| 2022 Restricted Stock Units | <sup>(2)</sup> | 2023-03-09 |  | M |  |  | 1525 | <sup>(13)</sup> | <sup>(13)</sup> | Common Stock | 1525.0 | $0 | 3051 | D |  |

---

### Footnotes:

(1) Reflects the vesting of the third of three installments of Restricted Stock Units ("RSUs") granted on March 9, 2020 ("2020 RSUs"). RSUs are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

(2) RSUs convert into common stock on a one-for-one basis at the time of vesting.

(3) Reflects an aggregate of 669 shares of common stock retained by the Heidrick & Struggles International, Inc. (the "Issuer") to satisfy tax withholding obligations with respect to 2020 RSUs that vested on March 9, 2023.

(4) Reflects the vesting of 7,823 non-derivative Performance Stock Units ("PSUs") granted on March 9, 2020 ("2020 PSUs") for the three-year performance period ended December 31, 2022 and which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to Rule 16b-3(d). PSUs are target-based equity grants that generally vest three years from the grant date if certain performance goals are achieved. The actual amounts to vest at the end of the performance period can range from 0% to 200% of target based on performance.

(5) PSUs convert into common stock on a one-for-one basis at the time of vesting.

(6) Reflects an aggregate of 2,452 shares of common stock retained by Issuer to satisfy tax withholding obligations with respect to 2020 PSUs that vested on March 9, 2023.

(7) Reflects the vesting of the second of three installments of RSUs granted on March 9, 2021 ("2021 RSUs"). RSUs are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

(8) Reflects an aggregate of 495 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to 2021 RSUs that vested on March 9, 2023.

(9) Reflects the vesting of the first of three installments of RSUs granted on March 9, 2022 ("2022 RSUs"). RSUs are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

(10) Reflects an aggregate of 478 shares of common stock retained by the Issuer to satisfy tax withholding obligations with respect to 2022 RSUs that vested on March 9, 2023.

(11) On March 9, 2020, the reporting person was granted 6,402 RSUs, which are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

(12) On March 9, 2021, the reporting person was granted 4,736 RSUs, which are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

(13) On March 9, 2022, the reporting person was granted 4,576 RSUs, which are service-based and vest in three equal installments on the first, second and third anniversaries of the date of grant.

**Signature:** /s/ Jose J. Castillo  
**Date:** 2023-03-09

### Remarks:

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.**