Javier B. Szwarcberg - 26 Nov 2023 Form 4 Insider Report for SPRUCE BIOSCIENCES, INC. (SPRB)

Role: Chief Executive Officer, Director
Signature: /s/ Samir M. Gharib, Attorney-in-Fact
Issuer symbol: SPRB
Transactions as of: 26 Nov 2023
Net transactions value: $0
Form type: 4
Filing time: 28 Nov 2023, 19:00:09 UTC
Previous filing: 05 Jul 2023
Next filing: 18 Dec 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	Employee Stock Option (right to buy)	Award	$0	+125,000		$0.000000	125,000	26 Nov 2023	Common Stock	125,000	$4.59	Direct	F1

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

Explanation of Responses:

Id	Content
F1	On January 3, 2022, the Reporting Person was granted a stock option to purchase 250,000 shares of the Issuer's common stock. The shares subject to the stock option shall vest 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). Certain specified performance goals were met, resulting in the vesting of 125,000 shares subject to the stock option.

Content

On January 3, 2022, the Reporting Person was granted a stock option to purchase 250,000 shares of the Issuer's common stock. The shares subject to the stock option shall vest 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). Certain specified performance goals were met, resulting in the vesting of 125,000 shares subject to the stock option.