Heron Therapeutics (HRTX) director awarded 53,960 restricted stock units

Rhea-AI Filing Summary

Heron Therapeutics director Thomas Cusack received an equity award of 53,960 shares of common stock on January 30, 2026. The award was granted as restricted stock units at a price of $0 per share, bringing his directly owned holdings to 53,960 shares.

The restricted stock units vest in full on January 30, 2027, and each unit represents a contingent right to receive one share of Heron Therapeutics common stock once vested. This reflects stock-based director compensation rather than an open‑market purchase.

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

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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^*

Cusack Thomas

(Last) (First) (Middle)

100 REGENCY FOREST DRIVE

SUITE 300

(Street)

CARY NC 27518

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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

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

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

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	01/30/2026		A		53,960(1)	A	$0	53,960	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. The shares were granted as restricted stock units which vest in full on January 30, 2027. Each restricted stock unit represents a contigent right to receive one share of common stock.

	/s/Kathryn Lester Attorney-in-fact for Thomas Cusack	02/03/2026
	** 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).
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FAQ

What insider transaction did Heron Therapeutics (HRTX) report for Thomas Cusack?

Heron Therapeutics reported that director Thomas Cusack received 53,960 shares of common stock as a restricted stock unit grant. The grant was recorded at $0 per share and represents stock-based compensation rather than a cash purchase in the open market.

When do Thomas Cusack’s restricted stock units in Heron Therapeutics (HRTX) vest?

The restricted stock units granted to Thomas Cusack vest in full on January 30, 2027. Once vested, each unit converts into one share of Heron Therapeutics common stock, aligning the director’s compensation with the company’s long-term share performance.

How many Heron Therapeutics (HRTX) shares does Thomas Cusack own after this Form 4?

Following the reported transaction, Thomas Cusack beneficially owns 53,960 shares of Heron Therapeutics common stock directly. This amount reflects the full number of shares underlying the restricted stock unit grant disclosed in the filing as of the transaction date.

What was the price of the Heron Therapeutics (HRTX) shares granted to Thomas Cusack?

The 53,960 shares underlying Thomas Cusack’s restricted stock unit grant were reported at a price of $0 per share. This indicates the award was part of his director compensation package rather than a purchase requiring cash payment for the shares.

What type of security did Thomas Cusack receive from Heron Therapeutics (HRTX)?

Thomas Cusack received restricted stock units linked to Heron Therapeutics common stock. Each restricted stock unit represents a contingent right to receive one common share, with all units scheduled to vest and convert into shares on January 30, 2027.