Heron EVP exercises 12,500 RSUs into common stock

Heron Therapeutics EVP William P. Forbes exercised restricted stock units into common shares as part of his compensation.

Rhea-AI Filing Summary

Heron Therapeutics EVP William P. Forbes exercised restricted stock units into common shares as part of his compensation. On June 6, 2026, he acquired 12,500 shares of common stock from RSUs at no cash cost. Following the transaction, he directly holds 221,611 common shares and 12,500 RSUs that vest in four equal annual installments, subject to continued service.

Insider Trade Summary

12,500 shares exercised/converted

Exercise 2 txns

Insider Forbes William P

Role EVP, Chief Development Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	12,500	$0.00	$0.00
Exercise	Common Stock	12,500	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 12,500 contracts (Direct); Common Stock — 221,611 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. F2. The restricted stock units vest in four equal annual installments beginning one year after the date of grant, subject to the Reporting Person's continued service to the Issuer through the vesting date.

Key Figures

RSUs exercised: 12,500 shares Common shares held after: 221,611 shares RSUs outstanding after: 12,500 units +1 more

4 metrics

RSUs exercised 12,500 shares Restricted stock units converted into common stock on June 6, 2026

Common shares held after 221,611 shares Direct holdings following the Form 4 transaction

RSUs outstanding after 12,500 units Restricted stock units remaining after the reported exercise

Transaction code M Exercise or conversion of derivative security reported on Form 4

Key Terms

Restricted Stock Units, contingent right, vest, annual installments

4 terms

Restricted Stock Units financial

"The restricted stock units vest in four equal annual installments"

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.

contingent right financial

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

vest financial

"The restricted stock units vest in four equal annual installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

annual installments financial

"vest in four equal annual installments beginning one year after the date of grant"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Heron Therapeutics (HRTX) report for William P. Forbes?

Heron Therapeutics reported that EVP and Chief Development Officer William P. Forbes exercised restricted stock units into 12,500 shares of common stock, a routine compensation-related acquisition rather than an open-market purchase or sale.

How many Heron Therapeutics (HRTX) shares does William P. Forbes hold after this Form 4?

After the transaction, William P. Forbes directly holds 221,611 shares of Heron Therapeutics common stock, plus 12,500 restricted stock units that are scheduled to vest over time, subject to his continued service with the company.

Were the Heron Therapeutics (HRTX) RSUs exercised by Forbes an open-market purchase?

No, the 12,500 shares came from exercising restricted stock units, not from an open-market purchase. RSU conversions are compensation events where each unit typically converts into one share when vesting conditions are met.

How do William P. Forbes’s Heron (HRTX) restricted stock units vest?

The restricted stock units vest in four equal annual installments starting one year after the grant date. Vesting is conditional on William P. Forbes continuing to serve Heron Therapeutics through each vesting date.

Does this Heron Therapeutics (HRTX) Form 4 show any insider share sales?

The Form 4 does not report any share sales. It shows William P. Forbes exercising restricted stock units for 12,500 common shares, with no corresponding open-market dispositions or tax-withholding sales reported in this filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/08/2026 - 10:27 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^*

Forbes William P

(Last) (First) (Middle)

25 FENTON MAIN STREET

SUITE 300

(Street)

CARY NORTH CAROLINA 27511

(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 Development Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/06/2026

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	06/06/2026		M		12,500	A	(1)	221,611	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	$0.00	06/06/2026		M			12,500	(2)	(2)	Common Stock	12,500	$0.00	12,500	D

Explanation of Responses:

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

2. The restricted stock units vest in four equal annual installments beginning one year after the date of grant, subject to the Reporting Person's continued service to the Issuer through the vesting date.

	/s/ Kathryn Lester Attorney-in-Fact for William P. Forbes	06/08/2026
	** 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)