Collard Craig A 4

What Happened

• Craig A. Collard, CEO of Heron Therapeutics (HRTX), had 13,797 restricted stock units (RSUs) convert into common shares on April 19, 2026. The filing reports the conversion (derivative exercise/conversion, code M) and a simultaneous disposition of 13,797 shares at $0.00 — consistent with shares being withheld to satisfy tax withholding on vesting. No cash proceeds were reported.

Key Details

• Transaction date: 2026-04-19; Form 4 filed: 2026-04-21 (timely).
• Transaction type/code: M = exercise or conversion of a derivative (conversion of RSUs).
• Shares converted: 13,797; disposition reported at $0.00 (indicative of tax withholding rather than an open-market sale).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — each RSU represents a contingent right to one share; F2 — the RSUs vest in 16 equal quarterly installments beginning 01/19/2024.

Context

• This is a routine vesting/settlement of RSUs, not an open-market purchase or sale for cash. Share withholding to cover taxes is common and does not necessarily reflect a change in the insider’s view of the company.