Duarte Ira 4

What Happened Ira Duarte, Chief Financial Officer of Heron Therapeutics (HRTX), converted/settled 12,500 derivative awards (reported as M) into 12,500 shares on June 16, 2026. To satisfy tax withholding obligations (code F), 3,555 shares were withheld at $0.38 per share for total tax withholding of $1,351, leaving a net issuance to Duarte of 8,945 shares. No cash purchase price was reported for the converted derivatives.

Key Details

• Transaction date: June 16, 2026; Form 4 filed June 17, 2026 (timely filing).
• Reported events: two M entries for conversion/exercise of 12,500 derivatives and one F entry showing 3,555 shares withheld for taxes at $0.38/share (= $1,351).
• Net shares received by insider: 12,500 - 3,555 = 8,945 shares.
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Footnotes: F1 — each restricted stock unit (RSU) equals one share; F2 — RSUs vest in four equal annual installments starting one year after grant, subject to continued service.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context This looks like a standard equity award settlement (conversion of RSUs/derivatives) with company shares withheld to cover taxes — a routine administrative event rather than an open-market buy or sell. For derivative/RSU conversions, withholding of shares for taxes is common and does not necessarily indicate a change in insider sentiment.