The play came with 3:37 left in the third quarter when Stephenson threw himself onto the floor after receiving a mild elbow from LeBron James.
The Pacers lost the game 87-83, allowing the Heat to tie the series 1-1. Game 3 will be Saturday in Miami.
Stephenson was the Pacers' star during Game 2, totaling 25 points, seven assists and six rebounds. James had 23 points, six assists and seven rebounds.