[Form 4] HERON THERAPEUTICS, INC. /DE/ Insider Trading Activity

Heron Therapeutics EVP and CFO Ira Duarte exercised restricted stock units to receive additional common shares as equity compensation.

Rhea-AI Filing Summary

Heron Therapeutics EVP and CFO Ira Duarte exercised restricted stock units to receive additional common shares as equity compensation. On this date, 3,874 restricted stock units converted into 3,874 shares of common stock at a stated price of $0.00 per share.

Following the transaction, Duarte directly held 215,876 shares of common stock and 27,120 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of common stock and vests in 16 equal quarterly installments beginning one quarter after the January 19, 2024 grant date.

A footnote also notes that Duarte’s holdings include 16,646 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2025, highlighting ongoing participation in both stock purchase and equity award programs.

Insider Trade Summary

3,874 shares exercised/converted

Exercise 2 txns

Insider Duarte Ira

Role EVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	3,874	$0.00	$0.00
Exercise	Common Stock	3,874	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 27,120 contracts (Direct); Common Stock — 215,876 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. F2. Includes 16,646 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2025.
3. F3. The restricted stock units vest in 16 equal quarterly installments beginning one quarter after the date of grant (01/19/2024).

Key Figures

RSUs exercised: 3,874 units Common shares after transaction: 215,876 shares RSUs remaining: 27,120 units +3 more

6 metrics

RSUs exercised 3,874 units Restricted stock units converted to common stock on transaction date

Common shares after transaction 215,876 shares Direct common stock holdings following the reported exercise

RSUs remaining 27,120 units Restricted stock unit balance after the exercise

ESPP shares included 16,646 shares Shares acquired under 1997 Employee Stock Purchase Plan on April 30, 2025

Exercise price per share $0.00 per share Stated price for conversion of restricted stock units into common stock

Vesting schedule installments 16 quarterly installments RSUs vest in 16 equal quarterly installments beginning after January 19, 2024 grant

Key Terms

Restricted Stock Units, Employee Stock Purchase Plan, Exercise or conversion of derivative security, contingent right

4 terms

Restricted Stock Units financial

"The restricted stock units vest in 16 equal quarterly installments beginning one quarter after the date of grant (01/19/2024)."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Employee Stock Purchase Plan financial

"Includes 16,646 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2025."

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share of common stock."

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Accepted by SEC EDGAR 04/21/2026 - 09:13 AM EDT Learn about SEC filing dates

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^*

Duarte Ira

(Last) (First) (Middle)

100 REGENCY FOREST DRIVE

SUITE 300

(Street)

CARY NORTH CAROLINA 27518

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HERON THERAPEUTICS, INC. /DE/ [ HRTX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/19/2026

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	04/19/2026		M		3,874	A	(1)	215,876(2)	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
Restricted Stock Units	$0	04/19/2026		M			3,874	(3)	(3)	Common Stock	3,874	$0	27,120	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock.

2. Includes 16,646 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2025.

3. The restricted stock units vest in 16 equal quarterly installments beginning one quarter after the date of grant (01/19/2024).

	/s/Kathryn Lester Attorney-in-fact for Ira Duarte	04/21/2026
	** 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)