X0306 4 2016-04-19 0 0000818033 HERON THERAPEUTICS, INC. /DE/ HRTX 0001555089 Rosen Robert 123 SAGINAW DRIVE REDWOOD CITY CA 94063 1 1 0 0 President Common Stock 2016-04-19 4 M 0 176328 7.20 A 178968 D Common Stock 2016-04-19 4 S 0 60925 22.4964 D 118043 D Common Stock 2016-04-19 4 S 0 76949 23.4695 D 41094 D Common Stock 2016-04-19 4 S 0 32224 24.486 D 8870 D Common Stock 2016-04-19 4 S 0 6230 25.1104 D 2640 D Common Stock 2016-04-20 4 M 0 4010 7.20 A 6650 D Common Stock 2016-04-20 4 S 0 4010 22.1864 D 2640 D Common Stock 2016-04-21 4 M 0 19662 7.20 A 22302 D Common Stock 2016-04-21 4 S 0 19662 22.1459 D 2640 D Employee Stock Option (Right to Buy) 7.20 2016-04-19 4 M 0 176328 0.00 D 2023-05-01 Common Stock 176328 948672 D Employee Stock Option (Right to Buy) 7.20 2016-04-20 4 M 0 4010 0.00 D 2023-05-01 Common Stock 4010 944662 D Employee Stock Option (Right to Buy) 7.20 2016-04-21 4 M 0 19662 0.00 D 2023-05-01 Common Stock 19662 925000 D The stock option exercise and sale of common stock reported in this Form 4 was effected pursuant to a Rule 10b5-1 plan dated as of August 20, 2015. The range of sales prices received was $22.00 to $23.00. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. The range of sales prices received was $23.01 to $24.00. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. The range of sales prices received was $24.02 to $25.00. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. The range of sales prices received was $25.01 to $25.30. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. The range of sales prices received was $22.00 to $22.53. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. The range of sales prices received was $22.00 to $22.32. Upon request by the SEC staff, the issuer, or any security holder of the issuer, full information will be provided regarding the number of shares purchased or sold at each separate price. At the date of filing, 410,157 shares of the options granted pursuant to the underlying awards were fully vested and exercisable. /s/ Brian Drazba Attorney-in-fact for Robert Rosen 2016-04-21