Forbes William P 4
4 · HERON THERAPEUTICS, INC. /DE/ · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Heron Therapeutics (HRTX) EVP William Forbes Receives Award
What Happened William P. Forbes, EVP and Chief Development Officer of Heron Therapeutics (HRTX), received two equity awards on January 30, 2026: 188,315 restricted stock units (RSUs) and 188,314 performance stock units (PSUs), a total of 376,629 derivative units. Each award is shown at $0 because these are compensatory unit grants (not an open‑market purchase or cash sale) that convert into common stock on a one‑for‑one basis if and when they vest.
Key Details
- Transaction date: January 30, 2026; Form 4 filed February 3, 2026 (timely within SEC rules).
- Award amounts: 188,315 RSUs (footnote F1/F2) and 188,314 PSUs (footnote F3/F4). Reported value: $0 on the Form 4 because these are derivative awards.
- Vesting: Both RSUs and PSUs vest in 16 equal quarterly installments beginning one quarter after the grant (i.e., 16 quarters = 4 years of quarterly vesting).
- PSU condition: PSUs are also subject to a milestone-based vesting condition tied to a net product sales revenue target for the fiscal year ending December 31, 2026 (as reported in the issuer’s Form 10‑K).
- Shares owned after transaction: Not reported in this filing.
- Transaction code: "A" = Award/Grant. No tax‑withholding sale or 10b5‑1 plan noted.
Context These awards are compensation grants (derivative units) rather than purchases or sales. RSUs are time‑based and will convert to common shares as they vest; PSUs require both time and achievement of a revenue target for FY2026 before the related units vest. Such grants are common for executive retention and alignment with company performance; they do not represent an immediate market purchase or sale.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-01-30+188,315→ 188,315 total→ Common Stock (188,315 underlying) - Award
Performance Stock Units
[F3][F4]2026-01-30+188,314→ 188,314 total→ Common Stock (188,314 underlying)
Footnotes (4)
- [F1]Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
- [F2]On January 30, 2026 (the "Date of Grant"), the Reporting Person was granted 188,315 RSUs which vest upon the following time-based vesting schedule: the RSUs vest in 16 equal quarterly installments beginning one quarter after the Date of Grant. The full amount of the RSUs granted to the Reporting Person is reflected herein.
- [F3]Performance stock units ("PSUs") convert into common stock on a one-for-one basis.
- [F4]On January 30, 2026, the Reporting Person was granted 188,314 PSUs which vest upon the following time-based vesting schedule: the PSUs vest in 16 equal quarterly installments beginning one quarter after the Date of Grant, subject to satisfaction of the milestone-based vesting condition: the applicable percentage of the PSUs vesting based on a net product sales revenue target for the fiscal year ending December 31, 2026 as reported in the Issuer's Form 10-K. The full amount of the PSUs granted to the Reporting Person is reflected herein.