Javier B. Szwarcberg - Jan 3, 2022 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role
Chief Executive Officer, Director
Signature
/s/ Javier B. Szwarcberg
Stock symbol
SPRB
Transactions as of
Jan 3, 2022
Transactions value $
$0
Form type
4
Date filed
1/10/2022, 08:07 PM
Previous filing
Jan 10, 2022
Next filing
Dec 7, 2022

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 SPRB Employee Stock Option (right to buy) Award $0 +750K $0.00 750K Jan 3, 2022 Common Stock 750K $4.59 Direct F1
transaction SPRB Employee Stock Option (right to buy) Award $0 +250K $0.00 250K Jan 3, 2022 Common Stock 250K $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).
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).