Company: HRTX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060882
Chunk: 49

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 49
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 Company’s common stock, and his initial time-based restricted stock unit award covering 250,000 shares of the Company’s common stock, both of which were granted in 2023, will vest as to an additional 6 months of service if his employment as Chief Executive Officer is terminated and he remains a member of the Board following such termination.

Non-CEO NEO Employment Agreements

In connection with her appointment as Executive Vice President, Chief Financial Officer, the Company entered into a management retention agreement with Ira Duarte on June 16, 2023. Ms. Duarte was hired at an initial base salary of $500,000 annually, which was raised each subsequent year incrementally to $530,450 for 2025, and she is also eligible for an annual target incentive bonus in an amount equal to fifty percent (50%) of her base salary.

In connection with his appointment as Executive Vice President, Chief Development Officer, the Company entered into a management retention agreement with William Forbes on June 6, 2023 (collectively with Ms. Duarte’s employment agreement, the “Non-CEO NEO Agreements”). Dr. Forbes was initially hired at an annual base salary of $575,000, which was raised each subsequent year incrementally to $610,018 for 2025, and he is also eligible for an annual cash incentive bonus in an amount equal to fifty percent (50%) of his base salary.

The Non-CEO NEO Agreements provide that if the Named Executive Officer’s employment is terminated by the Company without “Cause,” or by the Named Executive Officer for “Good Reason”, then the Named Executive Officer will receive: (i) a lump-sum payment equal to the Named Executive Officer’s annual base salary then in effect less required deductions and withholdings; (ii) a lump sum payment equal to the average bonus paid by the Company to the Named Executive Officer for services during each of the three twelve-month periods (or such shorter period of time during which the Named Executive Officer was eligible for a bonus) prior to the involuntary termination date less required deductions and withholdings; and (iii) accelerated vesting of shares subject to all stock awards issued by the Company to the Named Executive Officer, for the number of shares which would have vested accordingly had the Named Executive Officer continued employment with the Company for a period of twelve months after termination, but does not include awards that remain subject to performance criteria as of the date of termination. The Company also agreed to reimburse for, or continue to pay for, health care benefits