William P. Forbes - Jul 31, 2025 Form 4 Insider Report for HERON THERAPEUTICS, INC. /DE/ (HRTX)

Role: EVP, Chief Development Officer
Signature: /s/ Kathryn Lester Attorney-in-Fact for William P. Forbes
Stock symbol: HRTX
Transactions as of: Jul 31, 2025
Transactions value $: $0
Form type: 4
Date filed: 8/4/2025, 05:29 PM
Previous filing: Jul 22, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Forbes William P	EVP, Chief Development Officer	100 REGENCY FOREST DRIVE, SUITE 300, CARY	/s/ Kathryn Lester Attorney-in-Fact for William P. Forbes	2025-08-04	0001314760

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HRTX	Common Stock	Options Exercise		+11.7K	+8.42%		151K	Jul 31, 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HRTX	Restricted Stock Units	Options Exercise	$0	-11.7K	-6.67%	$0.00	164K	Jul 31, 2025	Common Stock	11.7K	$0.00	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit represents a contingent right to receive one share of common stock.
F2	The restricted stock units vest in 16 equal installments beginning one quarter after the date of grant (January 31, 2025).