Samir M. Gharib - 08 Nov 2023 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

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	+75,000		$0.000000	75,000	08 Nov 2023	Common Stock	75,000		Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of SPRB common stock.
F2	On December 16, 2021, the Reporting Person was granted 150,000 time-based RSUs, all of which were fully vested as of June 30, 2023. The Reporting Person was also granted 150,000 performance-based RSUs, which vest in two equal installments upon the achievement of specified performance goals, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). On November 8, 2023, the Compensation Committee of the Issuer's Board of Directors certified the achievement of certain specified performance goals, resulting in the vesting of 75,000 performance-based RSUs effective December 15, 2023.
F3	Represents the aggregate balance of 75,000 performance-based RSUs.