Heron CEO exercises 13,797 RSUs into shares

Heron Therapeutics Chief Executive Officer Craig A. Collard exercised restricted stock units into common shares as part of his equity compensation.

Rhea-AI Filing Summary

Heron Therapeutics Chief Executive Officer Craig A. Collard exercised restricted stock units into common shares as part of his equity compensation. He converted 13,797 restricted stock units into 13,797 shares of common stock at a stated price of $0.00 per share.

After the transaction, he directly holds 662,052 shares of common stock and 96,758 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.

Insider Trade Summary

13,797 shares exercised/converted

Exercise 2 txns

Insider Collard Craig A

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	13,797	$0.00	$0.00
Exercise	Common Stock	13,797	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 96,758 contracts (Direct); Common Stock — 662,052 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 16 equal quarterly installments beginning one quarter after the date of grant (01/19/2024).

Key Figures

RSUs exercised: 13,797 units Common shares held after: 662,052 shares RSUs remaining: 96,758 units +2 more

5 metrics

RSUs exercised 13,797 units Restricted stock units converted to common stock on April 19, 2026

Common shares held after 662,052 shares CEO direct common stock ownership after transaction

RSUs remaining 96,758 units Restricted stock units held after the exercise

RSU conversion price $0.00 per unit Reported transaction and exercise price per RSU

Vesting schedule 16 quarterly installments RSUs vest in 16 equal quarterly tranches from one quarter after 01/19/2024

Key Terms

Restricted Stock Units, contingent right, derivative security, vest

4 terms

Restricted Stock Units financial

"The restricted stock units vest in 16 equal quarterly 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"

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

vest financial

"The restricted stock units vest in 16 equal quarterly 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.

FAQ

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

What insider transaction did Heron Therapeutics (HRTX) report for its CEO?

Heron Therapeutics reported that CEO Craig A. Collard exercised 13,797 restricted stock units into 13,797 shares of common stock. This was a compensation-related equity conversion, not an open-market stock purchase or sale, and reflects scheduled vesting of prior equity awards.

How many Heron Therapeutics (HRTX) shares does the CEO hold after this Form 4?

Following the transaction, CEO Craig A. Collard directly holds 662,052 shares of Heron Therapeutics common stock. This figure comes from the post-transaction holdings reported in the Form 4 and reflects his updated direct ownership position after the restricted stock unit conversion.

How many restricted stock units does the Heron Therapeutics (HRTX) CEO still have?

After exercising 13,797 restricted stock units, CEO Craig A. Collard holds 96,758 restricted stock units. These units continue to represent contingent rights to receive an equal number of common shares as they vest according to the disclosed quarterly vesting schedule.

What is the vesting schedule for the Heron Therapeutics (HRTX) CEO’s restricted stock units?

The CEO’s restricted stock units vest in 16 equal quarterly installments beginning one quarter after the January 19, 2024 grant date. Each vested unit converts into one share of common stock, providing a structured, time-based equity compensation program for the executive.

Did the Heron Therapeutics (HRTX) CEO buy or sell shares on the open market in this filing?

No, the filing shows a derivative exercise where restricted stock units converted into common shares. The transaction code M indicates an exercise or conversion of a derivative security, not an open-market purchase or sale of Heron Therapeutics common stock by the CEO.

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

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Accepted by SEC EDGAR 04/21/2026 - 09:41 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^*

Collard Craig A

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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		13,797	A	(1)	662,052	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			13,797	(2)	(2)	Common Stock	13,797	$0	96,758	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 16 equal quarterly installments beginning one quarter after the date of grant (01/19/2024).

	/s/Kathryn Lester Attorney-in-fact for Craig Collard	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)