Lisa Peraza - Jul 25, 2023 Form 4 Insider Report for HERON THERAPEUTICS, INC. /DE/ (HRTX)

Signature
/s/ Lisa Peraza
Stock symbol
HRTX
Transactions as of
Jul 25, 2023
Transactions value $
-$22,881
Form type
4
Date filed
10/17/2023, 07:57 PM
Previous filing
Jul 19, 2023
Next filing
Jan 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HRTX Common Stock Options Exercise +42.6K +168.44% 67.9K Jul 25, 2023 Direct F1
transaction HRTX Common Stock Tax liability -$22.3K -14.7K -21.7% $1.51 53.2K Jul 25, 2023 Direct F2
transaction HRTX Common Stock Options Exercise +552 +1.04% 53.8K Oct 13, 2023 Direct F1
transaction HRTX Common Stock Options Exercise +1.93K +3.59% 55.7K Oct 13, 2023 Direct F1
transaction HRTX Common Stock Tax liability -$619 -860 -1.54% $0.72 54.8K Oct 13, 2023 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 Performance Stock Units Options Exercise $0 -42.6K -100% $0.00* 0 Jul 25, 2023 Common Stock 42.6K Direct F1, F3
transaction HRTX Restricted Stock Units Options Exercise $0 -552 -20% $0.00 2.21K Oct 13, 2023 Common Stock 552 Direct F1, F4
transaction HRTX Restricted Stock Units Options Exercise $0 -1.93K -19.52% $0.00 7.96K Oct 13, 2023 Common Stock 1.93K Direct F1, F5
* 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 On July 25, 2022, the Compensation Committee of the Issuer (the "Committee") granted the Reporting Person Performance Stock Units ("PSUs"), the vesting of which was subject to the achievement of certain corporate performance goals and time-based vesting. On January 18, 2023, the Committee determined that certain performance goals of the PSUs had been achieved. The PSUs were further subject to a time-based vesting schedule. The PSUs vested in full on the first anniversary of the grant date (July 25, 2023).
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).