Kimberly Manhard - Jan 13, 2023 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: Jan 13, 2023
Transactions value $: -$962
Form type: 4
Date filed: 1/17/2023, 04:34 PM
Previous filing: Oct 17, 2022
Next filing: Jan 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HRTX	Common Stock	Other	$5.42K	+1.66K	+8.96%	$3.27	20.1K	Oct 31, 2022	Direct	F1
transaction	HRTX	Common Stock	Options Exercise		+1.25K	+6.21%		21.4K	Jan 13, 2023	Direct	F2
transaction	HRTX	Common Stock	Options Exercise		+4.56K	+21.35%		25.9K	Jan 13, 2023	Direct	F2
transaction	HRTX	Common Stock	Tax liability	-$6.38K	-2.01K	-7.75%	$3.17	23.9K	Jan 13, 2023	Direct	F3

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	-12.5%	$0.00	8.75K	Jan 13, 2023	Common Stock	1.25K		Direct	F2, F4
transaction	HRTX	Restricted Stock Units	Options Exercise	$0	-4.56K	-12.31%	$0.00	32.5K	Jan 13, 2023	Common Stock	4.56K		Direct	F2, F5

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

Explanation of Responses:

Id	Content
F1	Represents shares acquired under the Heron Therapeutics, Inc. 1997 Employee Stock Purchase Plan on October 31, 2022.
F2	Restricted stock units convert into common stock on a one-for-one basis.
F3	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.
F4	The restricted stock units vest in 16 equal quarterly installments beginning one quarter after the date of grant (10/13/2020).
F5	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).