Form 4: Heron Therapeutics Exec Converts RSUs to Common Stock

Heron Therapeutics' EVP, Chief Development Officer, William P. Forbes, converted 11,694 restricted stock units into common stock.

Summary

• William P. Forbes, Executive Vice President and Chief Development Officer of Heron Therapeutics, Inc. (HRTX), converted 11,694 Restricted Stock Units (RSUs) into common stock.
• The transaction occurred on October 31, 2025.
• Following this conversion, Forbes directly owns 166,203 shares of Heron Therapeutics common stock.
• He also directly holds 152,027 Restricted Stock Units.
• Each RSU represents a contingent right to receive one share of common stock, with a conversion price of $0.00.
• The Restricted Stock Units vest in 16 equal installments, with vesting commencing one quarter after the grant date of January 31, 2025.

Sentiment

Score: 7

Explanation: The transaction is a routine, expected event as part of executive compensation, indicating continued alignment of management interests with shareholders, which is generally viewed neutrally to positively.

Positives

• The conversion of Restricted Stock Units into common stock is a standard vesting event, reflecting a component of executive compensation and often indicating continued employment and achievement of performance milestones.
• William P. Forbes maintains a significant direct ownership stake of 166,203 common shares and 152,027 additional RSUs, which aligns his interests with those of the company's shareholders.

Future Outlook

NA

Industry Context

This filing details a routine insider transaction related to executive compensation and does not provide information relevant to broader industry trends or competitive landscape.

Related Party Transactions

• The conversion of Restricted Stock Units into common stock is a standard compensation-related transaction between an executive (William P. Forbes) and the company (Heron Therapeutics, Inc.).

Stakeholder Impact

• Shareholders: Increased direct ownership by a key executive may be viewed positively as it further aligns management's interests with those of the shareholders.
• Employees: This transaction reflects standard executive compensation practices within the company.

Next Steps

• The remaining 152,027 Restricted Stock Units held by William P. Forbes will continue to vest in accordance with the established schedule.

Key Dates

Recommendation

This Form 4 reports a routine conversion of Restricted Stock Units into common stock by a key executive, which is an expected part of their compensation. It does not provide new fundamental information that would warrant a change in investment recommendation.

Keywords

Heron Therapeutics, HRTX, Form 4, Insider Transaction, RSU Conversion, Executive Compensation, William P. Forbes