Form 4 for SPRB SPRUCE BIOSCIENCES, INC.
Accepted 2023-12-18 00:00:00 ET · period of report 2023-12-14 · accession 0001209191-23-059054 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2023-12-18 | 2023-12-15 | SPRB | Gharib Samir M. | Pres, CFO | F - Tax | $1.66 | -36.1K | 167.2K | -18% | -$59.9K |
| DM | 2023-12-18 | 2023-12-15 | SPRB | Gharib Samir M. | Pres, CFO | M - OptEx | $0.00 | +112.2K | 190.4K | +144% | $0 |
| DM | 2023-12-18 | 2023-12-15 | SPRB | Gharib Samir M. | Pres, CFO | M - OptEx | $0.00 | -112.2K | 75.0K | -60% | $0 |
| D | 2023-12-18 | 2023-12-14 | SPRB | Gharib Samir M. | Pres, CFO | A - Grant | $0.00 | +308.0K | 308.0K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-12-15 | F | D | 12,882 | $1.66 | 191,521 | D | — | — | (F3) On December 5, 2022, the Reporting Person was granted 149,000 time-based RSUs, subject to a 4-year vesting schedule, with 25% of the total number of RSUs to vest on December 15, 2023 (the "Annual Vesting Date") and 25% of the total number of RSUs to vest in annual installments on each anniversary of the Annual Vesting Date thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). On December 15, 2023, 37,250 RSUs vested, with 12,882 shares being withheld for taxes, resulting in a net issuance of 24,368 shares. |
| 2 | Common | Common Stock | 2023-12-15 | M | A | 37,250 | $0.00 | 204,403 | D | — | — | (F3) On December 5, 2022, the Reporting Person was granted 149,000 time-based RSUs, subject to a 4-year vesting schedule, with 25% of the total number of RSUs to vest on December 15, 2023 (the "Annual Vesting Date") and 25% of the total number of RSUs to vest in annual installments on each anniversary of the Annual Vesting Date thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). On December 15, 2023, 37,250 RSUs vested, with 12,882 shares being withheld for taxes, resulting in a net issuance of 24,368 shares. (F2) Each RSU represents a contingent right to receive one share of SPRB common stock. |
| 3 | Common | Common Stock | 2023-12-15 | M | A | 75,000 | $0.00 | 190,366 | D | — | — | (F1) On December 16, 2021, the Reporting Person was granted 150,000 time-based restricted stock units ("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. On December 15, 2023, 23,213 shares were withheld for taxes, resulting in a net issuance of 51,787 shares. (F2) Each RSU represents a contingent right to receive one share of SPRB common stock. |
| 4 | Common | Common Stock | 2023-12-15 | F | D | 23,213 | $1.66 | 167,153 | D | — | — | (F1) On December 16, 2021, the Reporting Person was granted 150,000 time-based restricted stock units ("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. On December 15, 2023, 23,213 shares were withheld for taxes, resulting in a net issuance of 51,787 shares. |
| 5 | Derivative | Restricted Stock Units | 2023-12-15 | M | D | 37,250 | $0.00 | 111,750 | D | $0.00 · — to — | 37,250 Common Stock | (F3) On December 5, 2022, the Reporting Person was granted 149,000 time-based RSUs, subject to a 4-year vesting schedule, with 25% of the total number of RSUs to vest on December 15, 2023 (the "Annual Vesting Date") and 25% of the total number of RSUs to vest in annual installments on each anniversary of the Annual Vesting Date thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). On December 15, 2023, 37,250 RSUs vested, with 12,882 shares being withheld for taxes, resulting in a net issuance of 24,368 shares. (F7) Represents the aggregate balance of 111,750 time-based RSUs. (F2) Each RSU represents a contingent right to receive one share of SPRB common stock. |
| 6 | Derivative | Restricted Stock Units | 2023-12-14 | A | A | 308,000 | $0.00 | 308,000 | D | $0.00 · — to — | 308,000 Common Stock | (F2) Each RSU represents a contingent right to receive one share of SPRB common stock. (F5) 154,000 of the RSUs 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). (F4) 154,000 of the RSUs shall vest as to 25% on December 15, 2024, and in equal annual installments thereafter, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan). |
| 7 | Derivative | Restricted Stock Units | 2023-12-15 | M | D | 75,000 | $0.00 | 75,000 | D | $0.00 · — to — | 75,000 Common Stock | (F1) On December 16, 2021, the Reporting Person was granted 150,000 time-based restricted stock units ("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. On December 15, 2023, 23,213 shares were withheld for taxes, resulting in a net issuance of 51,787 shares. (F6) Represents the aggregate balance of 75,000 performance-based RSUs. (F2) Each RSU represents a contingent right to receive one share of SPRB common stock. |