Ralph William Charlton III - 01 Apr 2022 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role: Chief Medical Officer
Signature: /s/ Samir Gharib, Attorney-in-Fact
Issuer symbol: SPRB
Transactions as of: 01 Apr 2022
Net transactions value: $0
Form type: 4
Filing time: 01 Apr 2022, 20:04:05 UTC
Previous filing: 01 Apr 2022
Next filing: 07 Dec 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
transaction	SPRB	Employee Stock Option (right to buy)	Award	$0	+250,000		$0.000000	250,000	01 Apr 2022	Common Stock	250,000	$2.13	Direct	F1

* 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 on the vesting commencement date of March 28, 2022 ("Vesting Commencement Date"). 1/4th of the total number of shares will vest and become exercisable on the first anniversary of the Vesting Commencement Date, and 1/36th of the remaining shares will vest and become exercisable on a monthly basis thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan).

Content

The shares subject to the stock option vest over a four-year period commencing on the vesting commencement date of March 28, 2022 ("Vesting Commencement Date"). 1/4th of the total number of shares will vest and become exercisable on the first anniversary of the Vesting Commencement Date, and 1/36th of the remaining shares will vest and become exercisable on a monthly basis thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan).