Company: HRTX
Filing Date: 2025-04-29
Form Type: 8-K
Source: 0000950170-25-059479
Chunk: 1

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-04-29
Form: 8-K
Item: Item 5.02
Chunk 1
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% of the shares subject to the option vesting on the first anniversary of the grant date and the remaining 75% vesting on a monthly basis over the next three years, subject to Mr. Hensley’s continuous service through each vesting date. The Inducement RSUs vest as to 25% of the shares subject to the Inducement RSUs on each of the first four anniversaries of the grant date, subject to Mr. Hensley’s continuous service through each such vesting date. The Inducement PSO has a 10-year term and vests as to a certain number of shares of the Company’s common stock upon achievement of certain stock price goals during Mr. Hensley’s employment with the Company and during the term of the Inducement PSO, subject to Mr. Hensley’s continuous service through each such vesting date. In accordance with Nasdaq Listing Rule 5635(c)(4), the inducement award grants were approved by the Company’s Compensation Committee and were made as a material inducement to Mr. Hensley entering into employment with the Company and outside of the Company’s Amended and Restated 2007 Equity Incentive Plan, as amended (the “2007 Plan”), but pursuant to the terms of the 2007 Plan as if the inducement awards were granted under the 2007 Plan.

In connection with his appointment, Mr. Hensley also entered into a Management Retention Agreement with the Company on the Effective Date (the “Retention Agreement”) on terms substantially similar to the Management Retention Agreements the Company has with the Company’s Executive Vice President, Chief Financial Officer and Executive Vice President, Chief Development Officer which are described in the Company’s definitive proxy statement on Schedule 14A filed with the U. S. Securities and Exchange Commission on April 29, 2025. There are no arrangements or understandings between Mr. Hensley and any other persons pursuant to which he was selected as Chief Operating Officer. There are no family relationships between Mr. Hensley and any director or executive officer of the Company. There are no related party transactions between the Company and Mr. Hensley that would require disclosure under Item 404(a) of Regulation S-K.

A copy of the Press Release announcing the foregoing is furnished as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.