Collard Craig A 4

What Happened

• Craig A. Collard, Chief Executive Officer of Heron Therapeutics (HRTX), reported exercising/converting derivatives (RSUs) on April 30, 2026. The filing shows conversions of 34,789 and 50,021 shares (total 84,810 shares) and matching dispositions of those amounts at $0.00 (reported as derivative dispositions). The filing also notes 11,023 shares were acquired under the company’s 1997 Employee Stock Purchase Plan on April 30, 2026.
• These transactions reflect vested restricted stock units being converted into common shares (not an open-market purchase or sale for cash). The reported $0.00 dispositions are consistent with shares being withheld or surrendered to satisfy withholding/obligations (the filing reports them as derivative dispositions).

Key Details

• Transaction date: April 30, 2026. Filing date (Form 4): May 4, 2026 (appears later than the typical 2-business-day Form 4 deadline).
• Shares shown acquired (conversion): 34,789 and 50,021 (total 84,810). Shares shown disposed: same amounts at $0.00 (derivative).
• Additional acquisition: 11,023 shares via the 1997 Employee Stock Purchase Plan (per footnote).
• Footnotes: F1 = each RSU converts to one share; F3/F4 = the RSUs were granted Jan 30, 2026 and vest in 16 equal quarterly installments beginning one quarter after grant.
• Shares owned after transaction: not specified in the information provided in your summary.

Context

• These entries represent RSU vesting/convertions rather than a market buy or sell. When RSUs vest, executives commonly receive shares and may have a portion withheld or surrendered to cover taxes—filings often show those withheld shares as dispositions at $0.00 or as derivative cancellations.
• For retail investors, vesting conversions are routine and do not necessarily signal a change in insider sentiment; purchases are more directly informative about bullishness. Note the filing date relative to the transaction date may be later than the usual Form 4 deadline.