Javier B. Szwarcberg - 01 Jan 2022 Form 3 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role
Chief Executive Officer, Director
Signature
/s/ Javier B. Szwarcberg
Issuer symbol
SPRB
Transactions as of
01 Jan 2022
Net transactions value
$0
Form type
3
Filing time
10 Jan 2022, 20:06:29 UTC
Next filing
10 Jan 2022
SEC
View on sec.gov

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
holding SPRB Employee Stock Option (right to buy) 01 Jan 2022 Common Stock 750,000 $4.59 Direct F1
holding SPRB Employee Stock Option (right to buy) 01 Jan 2022 Common Stock 250,000 $4.59 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares subject to the stock option vest over a four-year period commencing January 3, 2022, with 1/4th of the shares vesting on January 3, 2023 and 1/36th of the remaining shares vesting on a monthly basis, subject to Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). The option was granted on January 3, 2022.
F2 The shares vest upon the achievement of specified performance goals, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). The option was granted on January 3, 2022.