Company: HRTX
Filing Date: 2025-08-15
Form Type: 8-K
Source: 0000950170-25-109234
Chunk: 2

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-08-15
Form: 8-K
Item: Item 3.03
Chunk 2
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 Rights

In connection with its adoption of the Plan, on August 13, 2025, the Board declared a dividend of one preferred stock purchase right (individually, a “ Right” and collectively, the “ Rights”) for each share of Common Stock of the Company outstanding at the close of business on August 15, 2025 (the “ Record Date”). Each Right will entitle the registered holder, after the Rights become exercisable and until August 14, 2026 (or the earlier redemption, exchange or termination of the Rights), to purchase from the Company one one-thousandth of a share of the Company’s Series B Preferred Stock, par value $0.01 per share (the “ Preferred Stock”), at a price of $7.00 per one one-thousandth of a share of Preferred Stock, subject to certain anti-dilution adjustments (the “ Purchase Price”).

One Right will be distributed to stockholders of the Company for each share of Common Stock owned of record by them at the close of business on August 15, 2025. As long as the Rights are attached to the Common Stock, the Company will issue one Right with each new share of Common Stock so that all such shares will have attached Rights. The Company has reserved 400,000 shares of Preferred Stock for issuance upon exercise of the Rights.

Transfer, “ Flip In” and Exercise of Purchase Rights

Until the earlier to occur of (i) the close of business on the tenth business day following a public announcement that a person or group has acquired, or obtained the right to acquire, beneficial ownership of 4.99% or more of the Common Stock (an “ Acquiring Person”) or (ii) the close of business on the tenth business day following the

commencement or announcement of an intention to make a tender offer or exchange offer the consummation of which would result in the beneficial ownership by a person or group of 4.99% or more of the Common Stock (the earlier of (i) and (ii) being called the “ Distribution Date”), the Rights will be evidenced, with respect to Common Stock certificates outstanding as of the Record Date, by such Common Stock certificates, or, with respect to uncertificated Common Stock registered in book entry form, by notation in book entry, in either case together with a copy of the Summary of Rights attached asExhibit C to the Plan. The Board can postpone the Distribution Date in certain circumstances. Shares held by persons participating in a group