William P. Forbes, Executive Vice President and Chief Development Officer of Heron Therapeutics, Inc. /DE/ (NASDAQ:HRTX), filed a Form 4 on November 3, 2026, disclosing restricted stock unit conversions and related share withholdings on October 30 and October 31, 2026.

Key Highlights

  • RSU conversions on October 30: Forbes converted 11,770 restricted stock units into 11,770 shares of common stock (transaction code M), then had 3,349 shares withheld at $0.28 per share (transaction code F), leaving a direct holding of 252,366 shares.
  • RSU conversions on October 31: Forbes converted an additional 11,695 restricted stock units into 11,695 shares, then had 3,327 shares withheld at $0.28 per share, bringing the direct holding to 260,734 shares.
  • October 30 RSU grant origin: According to the filing, the 11,770 RSUs came from a grant of 188,315 RSUs made on January 30, 2026, vesting in 16 equal quarterly installments beginning one quarter after the grant date.
  • October 31 RSU grant origin: The 11,695 RSUs came from a separate grant vesting in 16 equal installments beginning one quarter after a grant date of January 31, 2025.
  • Remaining RSU balance: After the reported transactions, Forbes held 153,006 derivative RSUs from the January 2026 grant and 105,249 from the January 2025 grant, both held directly.
  • Filing signed by: The form was signed by Kathryn Lester as attorney-in-fact for William P. Forbes on November 3, 2026.

Forbes RSU Vesting and Tax-Withholding Transactions at Heron Therapeutics

According to the Form 4 filing, Forbes's transactions over the two-day period reflect scheduled quarterly vesting events under two separate RSU grant agreements. On October 30, 2026, 11,770 RSUs vested and were converted to common stock under a grant of 188,315 RSUs awarded on January 30, 2026. The filing states those RSUs vest "in 16 equal quarterly installments beginning one quarter after the Date of Grant." Immediately following the conversion, 3,349 shares were disposed of at $0.28 per share under transaction code F, which the filing uses to denote shares withheld for tax purposes.

On October 31, 2026, a second vesting event occurred under an earlier grant dated January 31, 2025, under a similar 16-installment quarterly schedule. Forbes converted 11,695 RSUs into common stock and had 3,327 shares withheld at $0.28 per share. Following these two days of activity, the filing reports Forbes held 260,734 shares of common stock directly. The filing notes that each restricted stock unit "represents a contingent right to receive one share of common stock."

All transactions in the filing are coded M (conversion of derivative security) and F (shares withheld for tax), with no open-market purchases or sales reported. Beneficial ownership figures and RSU balances following each transaction are reported directly on the form, with all ownership listed as direct.

What Was Disclosed

The filing discloses two consecutive days of RSU vesting and associated share withholding by Heron Therapeutics EVP William P. Forbes, covering October 30 and October 31, 2026, with resulting direct ownership of 260,734 shares of common stock and remaining RSU balances of 153,006 and 105,249 units.