Company: HRTX
Filing Date: 2025-08-15
Form Type: 8-K
Source: 0000950170-25-109234
Chunk: 3

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-08-15
Form: 8-K
Item: Item 3.03
Chunk 3
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 are deemed to be beneficially owned by all persons treated as the same entity for purposes of Section 382 of the Code.

The Plan provides that any person who beneficially owned 4.99% or more of the Common Stock as of the first public announcement of the adoption of the Plan (each an “ Existing Holder”) shall not be deemed to be an “ Acquiring Person” for purposes of the Plan unless the Existing Holder becomes the beneficial owner of one or more additional shares of Common Stock, other than pursuant to (i) a dividend or distribution paid or made by the Company on the outstanding Common Stock, (ii) a split or subdivision of the outstanding Common Stock, (iii) the acquisition of Common Stock upon the exercise of any option, warrants or other rights, or upon the initial grant or vesting of restricted stock, granted by the Company to its directors or officers, or (iv) the acquisition of Common Stock upon the issuance or exercise of any options, warrants or other rights, or upon the conversion of convertible notes, convertible preferred stock, or other convertible securities pursuant to agreements or transactions entered into and executed by the Company prior to the date of the Plan. However, if upon acquiring beneficial ownership of one or more additional shares of Common Stock, the Existing Holder does not beneficially own 4.99% or more of the Common Stock then outstanding, the Existing Holder will not be treated as an “ Acquiring Person” for purposes of the Plan.

The Rights will be transferred only with the Common Stock until the Distribution Date (or earlier redemption, exchange, termination or expiration of the Rights). After the Distribution Date, separate certificates evidencing the Rights (“ Right Certificates”) will be mailed to holders of record of the Common Stock as of the close of business on the Distribution Date and such separate Right Certificates alone will evidence the Rights.

The Rights are not exercisable until the Distribution Date. The Rights will expire on August 14, 2026, subject to the Company’s right to extend such date, unless earlier redeemed or exchanged by the Company or terminated, or if the Board determines that the NOLs are utilized in all material respects or no longer available in any material respect under Section 382 of the Code or that an ownership change under Section 382 of the Code would not adversely impact in any material respect the time period in which the Company could use the NOLs, or materially impair the amount of the NOLs that could be used by the Company in any particular time period, for applicable tax purposes.