Forbes William P 4

What Happened
William P. Forbes, EVP and Chief Development Officer at Heron Therapeutics (HRTX), had 3,874 restricted stock units converted into 3,874 shares on April 19, 2026 (reported on Form 4 filed 2026-04-21). The filing shows an acquisition via exercise/conversion (code M) of 3,874 shares (acquisition price N/A) and a simultaneous disposition of 3,874 shares at $0.00 (no cash proceeds reported).

Key Details

• Transaction date: 2026-04-19; Form 4 filed: 2026-04-21 (appears timely under Section 16 reporting rules).
• Acquisition: 3,874 shares via exercise/conversion (price listed as N/A).
• Disposition: 3,874 shares at $0.00 (no proceeds reported).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — each restricted stock unit (RSU) equals one share; F2 — RSUs vest in 16 equal quarterly installments beginning 01/19/2024.
• Transaction code M indicates exercise or conversion of a derivative (here, RSUs).

Context
This appears to be a routine RSU vesting/conversion event. Filings that show converted RSUs alongside a zero-dollar disposition commonly reflect shares transferred to satisfy tax withholding or company obligations, though the Form 4 excerpt does not explicitly state tax withholding. Such conversions are not the same as open-market purchases or sales and typically do not signal a directional trade by the insider.