HERON THERAPEUTICS, INC. /DE/ — Director's Dealing 2012

Jun 21, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: AP PHARMA INC /DE/ (APPA)
CIK: 0000818033
Period of Report: 2012-06-18

Reporting Person: DAVIS STEPHEN (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	47946	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$0.63	2022-06-17	Common Stock (1000000)		Direct
Non-Qualified Stock Option (right to buy)	$0.63	2022-06-17	Common Stock (500000)		Direct
Non-Qualified Stock Option (right to buy)	$0.63	2022-06-17	Common Stock (3500000)		Direct

Footnotes

F1: Options will vest 1/36 of the underlying shares monthly so that the options are fully vested on the third anniversary of the grant.

F2: Options will vest 1/12 of the underlying shares monthly so that the options are fully vested on the earlier of one year from the date of grant or the day immediately prior to the next annual meeting.

F3: Options will vest 1/48 of the underlying shares monthly so that the options are fully vested on the fourth anniversary of the grant.