William P. Forbes - Jun 6, 2023 Form 3 Insider Report for HERON THERAPEUTICS, INC. /DE/ (HRTX)

Role: EVP, Chief Development Officer
Signature: /s/ Lisa Peraza Attorney-in-fact for William P. Forbes
Stock symbol: HRTX
Transactions as of: Jun 6, 2023
Transactions value $: $0
Form type: 3
Date filed: 6/12/2023, 04:41 PM
Previous filing: Apr 3, 2023
Next filing: Nov 20, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	HRTX	Common Stock						4K	Jun 6, 2023	Direct

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
holding	HRTX	Employee Stock Option (Right to Buy)							Jun 6, 2023	Common Stock	500K	$1.11	Direct	F1
holding	HRTX	Restricted Stock Units							Jun 6, 2023	Common Stock	50K	$0.00	Direct	F2
holding	HRTX	Employee Performance Stock Option (Right to Buy)							Jun 6, 2023	Common Stock	700K	$1.11	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The stock option vests and becomes exercisable with respect to 125,000 shares on the first anniversary of the date of grant, followed by 375,000 shares vesting ratably each month over the subsequent three years, such that 500,000 options will be fully vested on the four year anniversary of the date of grant.
F2	The restricted stock units vest in four equal annual installments beginning one year after the date of grant, subject to the Reporting Person's continued service to the Issuer through the vesting date.
F3	The stock option vests and becomes exercisable with respect to escalating portions of the option grant upon the Issuer's stock price reaching certain pre-established levels ranging from $4.50 to $9.00 per share, subject to the Reporting Person's continued service to the Issuer through the vesting date.