Javier B. Szwarcberg - Dec 5, 2022 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role
Chief Executive Officer, Director
Signature
/s/ Samir Gharib, Attorney-in-Fact
Stock symbol
SPRB
Transactions as of
Dec 5, 2022
Transactions value $
$0
Form type
4
Date filed
12/7/2022, 07:02 PM
Previous filing
Jan 10, 2022
Next filing
Jan 5, 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 SPRB Restricted Stock Units Award $0 +444K $0.00 444K Dec 5, 2022 Common Stock 444K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock of the Issuer.
F2 The RSUs vest over four years. 25% of the RSUs will vest on December 15, 2023 (the "Annual Vesting Date"), and 25% of the total number of RSUs will vest in annual installments on each anniversary of the Annual Vesting Date thereafter, subject to Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan).

Remarks:

Exhibit List: Exhibit 24 - Power of Attorney