Raffi Asadorian - Feb 11, 2022 Form 4 Insider Report for ACELRX PHARMACEUTICALS INC (ACRX)

Role: Chief Financial Officer
Signature: /s/ Martha Adler, Attorney-In-Fact
Stock symbol: ACRX
Transactions as of: Feb 11, 2022
Transactions value $: -$3,182
Form type: 4
Date filed: 2/14/2022, 03:50 PM
Previous filing: Feb 7, 2022
Next filing: Mar 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ACRX	Common Stock	Award	$0	+118K	+45.45%	$0.00	376K	Feb 11, 2022	Direct	F1, F2
transaction	ACRX	Common Stock	Tax liability	-$3.18K	-7.93K	-2.11%	$0.40	368K	Feb 11, 2022	Direct	F3

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	ACRX	Stock Option (Right to Buy)	Award	$0	+235K		$0.00	235K	Feb 11, 2022	Common Stock	235K	$0.40	Direct	F4

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

Explanation of Responses:

Id	Content
F1	The restricted stock units shall vest in three equal consecutive annual installments on February 11, 2023, February 11, 2024 and February 11, 2025.
F2	Includes previously reported shares of common stock underlying RSUs granted to the Reporting Person, which are subject to certain vesting conditions.
F3	Represents shares surrendered to the Issuer by the Reporting Person to pay required tax withholdings due to the vesting of RSUs.
F4	On February 11, 2022, the reporting person was granted an option to purchase 235,000 shares of common stock. One fourth (1/4th) of the option shares shall vest on the one year anniversary of the grant date, and the remaining balance of the option shares shall vest in 36 equal consecutive monthly installments thereafter until fully vested so long as the reporting person remains in continuous service through such applicable vesting periods.