Samir M. Gharib - 05 Dec 2022 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role
President & CFO
Signature
/s/ Samir Gharib
Issuer symbol
SPRB
Transactions as of
05 Dec 2022
Net transactions value
$0
Form type
4
Filing time
07 Dec 2022, 19:04:09 UTC
Previous filing
05 Jul 2022
Next filing
05 Jan 2023
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 Restricted Stock Units Award $0 +149,000 $0.000000 149,000 05 Dec 2022 Common Stock 149,000 $0.000000 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).