CEO Employment Agreement Amendment and Executive Retention Agreements

Heron Therapeutics, Inc. filed an 8-K on April 3, 2026, reporting amendments to executive employment and retention agreements. The company entered into an amended and restated employment agreement with CEO Craig Collard, revising termination terms, change-in-control provisions, and restrictive covenants. Under the new agreement, if Collard is terminated without cause or resigns for good reason outside a change-in-control window, he receives 100% of base salary plus 100% of target/average bonus, 12 months of equity vesting acceleration, and 18 months of COBRA coverage. If termination occurs within the change-in-control window, benefits increase to 200% of base salary and bonus, full equity acceleration, and 24 months of COBRA coverage. Additionally, the company entered into amended management retention agreements with CFO Ira Duarte, Chief Development Officer William Forbes, and COO Mark Hensley. These agreements provide similar enhanced severance benefits tied to change-in-control events, including 12-24 months of salary continuation, bonus payments, equity acceleration, and extended health coverage. The amendments also update restrictive covenants, clarify definitions, and change governing law to North Carolina. These executive compensation arrangements are designed to retain key leadership during potential corporate transitions.