Kimberly Manhard - Jul 13, 2022 Form 4 Insider Report for HERON THERAPEUTICS, INC. /DE/ (HRTX)

Role: EVP, Drug Development, Director
Signature: /s/ Lisa Peraza Attorney-in-fact for Kimberly Manhard
Stock symbol: HRTX
Transactions as of: Jul 13, 2022
Transactions value $: -$6,056
Form type: 4
Date filed: 7/15/2022, 04:55 PM
Previous filing: May 26, 2022
Next filing: Jul 27, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HRTX	Common Stock	Options Exercise		+1.25K	+11.5%		12.1K	Jul 13, 2022	Direct	F1
transaction	HRTX	Common Stock	Options Exercise		+4.56K	+37.65%		16.7K	Jul 13, 2022	Direct	F1
transaction	HRTX	Common Stock	Tax liability	-$6.06K	-2.01K	-12.06%	$3.01	14.7K	Jul 13, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HRTX	Restricted Stock Units	Options Exercise	$0	-1.25K	-10%	$0.00	11.3K	Jul 13, 2022	Common Stock	1.25K		Direct	F1, F3
transaction	HRTX	Restricted Stock Units	Options Exercise	$0	-4.56K	-9.88%	$0.00	41.6K	Jul 13, 2022	Common Stock	4.56K		Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert into common stock on a one-for-one basis.
F2	Represents the withholding by the Company of certain of the vested shares of restricted stock to satisfy the minimum statutory tax obligations applicable to such transactions.
F3	The restricted stock units vest in 16 equal quarterly installments beginning one quarter after the date of grant (10/13/2020).
F4	The restricted stock units vest quarterly with 33% of the shares vesting during the first year, 33% of the shares vesting during the second year, 22% of the shares vesting during the third year and the remaining 12% of the shares vesting during the fourth year, such that all shares will be fully vested on the four year anniversary of the date of grant (10/13/2021).