Forbes William P 4

What Happened
William P. Forbes, EVP and Chief Development Officer of Heron Therapeutics (HRTX), had restricted stock units (RSUs) convert into common shares on 2026-04-30. Two conversion entries totaling 23,464 shares were reported (11,694 and 11,770). Matching disposals of 23,464 shares were reported at $0.00, indicating a net share settlement rather than a cash sale.

Key Details

• Transaction date: 2026-04-30; Transaction code: M (exercise/conversion of derivative).
• Shares converted (acquired): 11,694 and 11,770 (total 23,464).
• Shares disposed: 11,694 and 11,770 (total 23,464) at $0.00 — no cash proceeds reported.
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 clarifies an RSU is a contingent right to receive one share. F3 notes the reporting person was granted 188,315 RSUs on Jan 30, 2026 that vest in 16 equal quarterly installments beginning one quarter after grant.
• Filing date: 2026-05-04; the Form 4 was filed within the normal two-business-day window for an April 30 transaction.

Context
This was a conversion/settlement of RSUs (derivative conversion). The matching disposals at $0.00 typically reflect net share settlement or shares withheld to satisfy tax-withholding obligations, not an open-market sale — so it does not represent a cash sale or a directional trading signal.