Duarte Ira 4

What Happened

• Ira Duarte, Chief Financial Officer of Heron Therapeutics (HRTX), reported the exercise/conversion of a derivative on April 19, 2026 that resulted in 3,874 shares being acquired. The same filing reports a simultaneous disposition of 3,874 shares at $0.00 (reported as a derivative disposition). No cash proceeds are shown in the filing.

Key Details

• Transaction date: 2026-04-19; Form 4 filed: 2026-04-21 (filed within the typical 2-business-day window).
• Transaction type/code: M = Exercise or conversion of derivative; disposition reported at $0.00.
• Shares acquired: 3,874; shares disposed: 3,874; reported proceeds: $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each restricted stock unit (RSU) represents a contingent right to receive one share.
  • F2: Includes 16,646 shares acquired under the company ESPP on 2025-04-30.
  • F3: RSUs vest in 16 equal quarterly installments beginning 2024-01-19.

Context

• "Exercise or conversion of derivative" means an equity-linked instrument (e.g., options or RSUs) was converted into common shares. The reported $0 disposition indicates the shares were not sold for cash in an open-market sale; filings often report zero-dollar dispositions when shares are surrendered to the company to cover taxes or exercise costs or otherwise withheld, rather than sold for cash. This appears to be an administrative transaction rather than an open-market purchase or sale signaling a directional bet.