Company: HRTX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060882
Chunk: 51

Company: HERON THERAPEUTICS, INC. /DE/
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 51
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 (vi) any material breach by employee of any employment or service agreement between employee and the Company or an affiliate, which breach is not cured pursuant to the terms of such agreement, or (vii) the employee’s conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud, dishonesty, misappropriation or moral turpitude, or which impairs employee’s ability to perform his or her duties with the Company or an affiliate, and (b) “Good Reason” generally means (i) a material reduction or change in job duties, responsibilities and requirements inconsistent with the employee’s position with the Company and the employee’s prior duties, responsibilities and requirements or a material negative change in the employee’s reporting relationship, (ii) a material reduction of the employee’s base compensation (other than in connection with a general decrease in base salaries for officers of the Company or successor corporation generally), or (iii) the employee’s refusal to relocate to a facility or location more than forty miles from the Company’s current location, in each case subject to certain notice and cure provisions.

37

Potential Payments Upon Termination or Change in Control as of 2024 Fiscal Year-End For illustrative purposes, the following table estimates the payments and benefits that our NEOs would have been entitled to receive upon a qualifying termination of employment as of December 31, 2024. The amounts set forth below assume that the triggering event occurred on December 31, 2024. Where benefits are based on the market value of our common stock, we have used the closing price of our Common Stock as reported on the Nasdaq on December 31, 2024, the last trading day of the year ($1.53 per share). In addition to the amounts set forth below, upon any termination of employment, our NEOs would also be entitled to (1) receive all payments generally provided to salaried employees on a non-discriminatory basis on termination, such as unused vacation and 401(k) plan distributions, and (2) exercise vested stock options (in accordance with the 2007 Plan). Please see the section above titled “Employment Agreements” for a description of these payments and benefits.

| Name           |     | Benefits                                                      |     | Termination/Change of 
 Control ("CIC") Event 
 Termination           
 without Cause or      
 for Good Reason       |           |     | Termination 
 due to CIC  |           |
|:---------------|:----|:------------------------------------------------