Timothy M. Papp - Jul 1, 2022 Form 4 Insider Report for DURECT CORP (DRRX)

Role
Chief Financial Officer
Signature
/s/ Timothy M. Papp
Stock symbol
DRRX
Transactions as of
Jul 1, 2022
Transactions value $
$0
Form type
4
Date filed
7/5/2022, 08:37 PM
Next filing
Feb 23, 2023

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 DRRX Stock Option (right to buy) Award $0 +600K $0.00 600K Jul 1, 2022 Common Stock 600K $0.45 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25% of the total number of shares subject to the option will vest and become exercisable on July 1, 2023, and 1/16th of the total number of shares subject to the option will vest and become exercisable at the end of each three-month period thereafter, subject to the Reporting Person providing continuous service to the Issuer through the applicable vesting date.