Company: HRTX
Filing Date: 2025-04-29
Form Type: 8-K
Source: 0000950170-25-059479
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Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-04-29
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 28, 2025, Heron Therapeutics, Inc. (the “Company”) announced that it appointed Mark Hensley as Chief Operating Officer, effective April 28, 2025 (the “ Effective Date”).

Mr. Hensley, 42, joins the Company as Chief Operating Officer. Mr. Hensley brings extensive leadership and operational experience to Heron. Prior to joining Heron, Mr. Hensley held several senior leadership roles at Veloxis Pharmaceuticals, Inc. (“ Veloxis”), a fully integrated specialty pharmaceutical company, including serving as Chief Executive Officer from 2021 to 2024, and Chief Operating Officer and Chief Commercial Officer from 2018 to 2021. Earlier in his career, Mr. Hensley held positions of increasing responsibility at Cornerstone Therapeutics and Chiesi USA. Mr. Hensley holds a Bachelor of Science in Biology and a Minor in Chemistry from the University of North Texas.

In connection with Mr. Hensley’s appointment, the Compensation Committee of the Board of Directors approved the following compensation arrangements for Mr. Hensley as of the Effective Date: (1) an annual base salary of $553,000; and (2) an annual target cash bonus of $276,500, which represents 50% of his annual base salary, although for 2025 the amount will be pro-rated for the portion of the year worked. Additionally, in connection with the commencement of Mr. Hensley’s employment, Mr. Hensley will receive inducement awards consisting of (i) a non-statutory stock option to purchase 500,000 shares of the Company’s common stock (the “ Inducement Option”), (ii) 500,000 restricted stock units (the “Inducement RSUs”), and (iii) a non-statutory stock option to purchase up to 900,000 shares of the Company’s common stock based upon the achievement of certain common stock price goals (the “Inducement PSO”). The Inducement Option and Inducement PSO each have an exercise price based on the closing price per share as reported on the Nasdaq Capital Market as of the grant date, which is the Effective Date. The Inducement Option has a 10-year term with a four-year vesting schedule, with 25