Immanuel Thangaraj - 03 Jan 2022 Form 4 Insider Report for ACURA PHARMACEUTICALS, INC

Role: Director
Signature: /s/ Immanuel Thangaraj
Issuer symbol: N/A
Transactions as of: 03 Jan 2022
Net transactions value: $0
Form type: 4
Filing time: 12 Jan 2022, 15:10:26 UTC
Previous filing: 28 May 2021
Next filing: 05 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACUR	Common Stock	Options Exercise		+66,666	+25%		330,981	03 Jan 2022	Direct	F1, F2, F3
holding	ACUR	Common Stock						1,956,396	03 Jan 2022	By Essex Woodlands Health Venture Fund V, L.P.	F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ACUR	Restricted Stock Units (2021 Plan)	Options Exercise		-66,666	-100%		0	03 Jan 2022	Common Stock	66,666		Direct	F2, F4, F5, F6
transaction	ACUR	Restricted Stock Units (2021 Plan)	Award		-66,666	-50%		66,666	03 Jan 2022	Common Stock	66,666		Direct	F2, F4, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents exchange of restricted stock units.
F2	Par value of $.01 per share must be paid by Reporting Person upon exchange of Restricted Stock Units for stock
F3	Does not include Restricted Stock Units.
F4	1 - for - 1
F5	66,666 Restricted Stock Units were granted on May 25, 2021. 50% of Restricted Stock Units vested on the last day of June 2021, while 25% of Restricted Stock Units vested on the last day of September 2021 and December 2021. Restricted Stock Units are being exchanged on a one for one basis for common stock, in each case upon payment of par value.
F6	N/A
F7	66,666 Restricted Stock Units were granted on January 3, 2022. 25% of Restricted Stock Units vest on the last day of each of March, June, September and December 2022, subject to immediate vesting in the event of a change of control and certain other events. Reporting Person may elect to exchange up to 40% of Restricted Stock Units for cash and the remaining Restricted Stock Units will be exchanged on a one for one basis for common stock, in each case upon payment of, or deduction of par value. Distributions in respect of vested Restricted Stock Units will be made on the first business day of January 2023, or earlier upon a change of control.
F8	The reporting person is a managing director of the general partner of Essex Woodlands Health Ventures Fund V, L.P. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.