Judy R. Joice - Feb 21, 2023 Form 4 Insider Report for DURECT CORP (DRRX)

Role
Sr. VP Operations & Corp QA
Signature
/s/ Judy R. Joice
Stock symbol
DRRX
Transactions as of
Feb 21, 2023
Transactions value $
$0
Form type
4
Date filed
2/23/2023, 12:20 PM
Previous filing
Jan 10, 2022

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 +20K $0.00 20K Feb 21, 2023 Common Stock 20K $5.07 Direct F1
transaction DRRX Stock Option (right to buy) Award $0 +17.5K $0.00 17.5K Feb 21, 2023 Common Stock 17.5K $5.07 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The option will vest and become exercisable in installments of one-sixteenth (1/16) of the total number of shares at the end of each three month period following the grant date, subject to the Reporting Person providing continuous service to the Issuer through the applicable vesting date.
F2 The option is fully vested and immediately exercisable.