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

Heron Therapeutics EVP and CFO Ira Duarte exercised restricted stock units into common shares in a compensation-related transaction.

Rhea-AI Filing Summary

Heron Therapeutics EVP and CFO Ira Duarte exercised restricted stock units into common shares in a compensation-related transaction. On April 30, 2026, Duarte converted 13,535 and 11,694 restricted stock units into the same number of Heron Therapeutics common shares, with no open-market sales reported. Footnotes explain each restricted stock unit represents a right to receive one common share and that 216,562 RSUs granted in January 2026 vest in 16 equal quarterly installments, highlighting an ongoing, time-based equity compensation program.

Insider Trade Summary

25,229 shares exercised/converted

Exercise 4 txns

Insider Duarte Ira

Role EVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	11,694	$0.00	$0.00
Exercise	Restricted Stock Units	13,535	$0.00	$0.00
Exercise	Common Stock	11,694	$0.00	$0.00
Exercise	Common Stock	13,535	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 331,665 contracts (Direct); Common Stock — 252,128 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. F2. Includes 11,023 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2026.
3. F3. The restricted stock units vest in 16 equal installments beginning one quarter after the date of grant (January 31, 2025).
4. F4. On January 30, 2026 (the "Date of Grant"), the Reporting Person was granted 216,562 RSUs which vest upon the following time-based vesting schedule: the RSUs vest in 16 equal quarterly installments beginning one quarter after the Date of Grant.

Key Figures

RSUs converted (block 1): 13,535 shares RSUs converted (block 2): 11,694 shares Total derivative exercise shares: 25,229 shares +3 more

6 metrics

RSUs converted (block 1) 13,535 shares Common stock acquired via RSU exercise on April 30, 2026

RSUs converted (block 2) 11,694 shares Common stock acquired via RSU exercise on April 30, 2026

Total derivative exercise shares 25,229 shares exerciseShares in transactionSummary for derivative exercises

ESPP shares acquired 11,023 shares Acquired under 1997 Employee Stock Purchase Plan on April 30, 2026

RSU grant size 216,562 RSUs Granted on January 30, 2026, vesting in 16 quarterly installments

Common shares after one exercise 252,128 shares Total common stock directly held following a reported acquisition

Key Terms

Restricted Stock Units, contingent right, Employee Stock Purchase Plan, vesting schedule

4 terms

Restricted Stock Units financial

"The restricted stock units vest in 16 equal installments beginning one quarter after the date of grant"

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 of common stock"

Employee Stock Purchase Plan financial

"Includes 11,023 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2026"

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.

vesting schedule financial

"RSUs which vest upon the following time-based vesting schedule: the RSUs vest in 16 equal quarterly installments"

A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.

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

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Accepted by SEC EDGAR 05/04/2026 - 11:56 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)
04/30/2026

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	04/30/2026		M		11,694	A	(1)	227,570	D
Common Stock	04/30/2026		M		13,535	A	(1)	252,128(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	04/30/2026		M			11,694	(3)	(3)	Common Stock	11,694	$0	128,638	D
Restricted Stock Units	$0	04/30/2026		M			13,535	(4)	(4)	Common Stock	13,535	$0	203,027	D

Explanation of Responses:

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

2. Includes 11,023 shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on April 30, 2026.

3. The restricted stock units vest in 16 equal installments beginning one quarter after the date of grant (January 31, 2025).

4. On January 30, 2026 (the "Date of Grant"), the Reporting Person was granted 216,562 RSUs which vest upon the following time-based vesting schedule: the RSUs vest in 16 equal quarterly installments beginning one quarter after the Date of Grant.

	/s/Kathryn Lester Attorney-in-fact for Ira Duarte	05/04/2026
	** 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)