Forbes William P 4

What Happened

• William P. Forbes, EVP and Chief Development Officer of Heron Therapeutics (HRTX), reported the conversion of 11,695 derivative units into 11,695 shares on January 31, 2026 (reported on Form 4 filed Feb 3, 2026). The filing shows an "exercise or conversion of derivative" (transaction code M) for 11,695 shares (acquisition line lists price as N/A) and a corresponding disposal entry for 11,695 shares at $0.00. This was not an open‑market purchase or sale for cash and therefore should be seen as an award/settlement event rather than a direct bullish or bearish trade.

Key Details

• Transaction date: 2026-01-31; Form 4 filed: 2026-02-03.
• Reported transactions: conversion/exercise of 11,695 derivative units into 11,695 shares (M); a disposal of 11,695 shares at $0.00 is also reported.
• Price/value shown: acquisition line N/A; disposal recorded at $0.00 (no cash proceeds shown).
• Shares owned after transaction: not specified in the data provided.
• Footnotes from the filing:
  • F1: Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock.
  • F2: The RSUs vest in 16 equal installments beginning one quarter after the grant date (Jan 31, 2025).
• Filing timeliness: no late‑filing flag provided in the materials supplied.

Context

• The M code indicates an exercise or conversion of a derivative (here, RSUs converting into common shares). The filing also records a $0.00 disposal of the same number of shares; the filing’s footnotes do not state the reason for the $0.00 disposition (e.g., tax withholding or net settlement), so the specific settlement mechanics are not disclosed in the provided text. This transaction reflects equity award settlement/vesting activity rather than an independent purchase or sale of stock on the open market.