Acura Pharmaceuticals (ACUR) director details 50K RSUs and new grant

Rhea-AI Filing Summary

Acura Pharmaceuticals director William G. Skelly reported equity compensation activity involving restricted stock units and common shares. On January 2, 2026, 50,000 restricted stock units granted on January 2, 2025 were exchanged on a one-for-one basis into 50,000 shares of common stock, with par value of $0.01 per share paid upon exchange. On the same date, Skelly received a new grant of 50,000 restricted stock units under the 2021 plan, which vest 25% on the last day of each of March, June, September and December 2026, with immediate vesting upon a change of control and certain other events. Following these transactions, Skelly beneficially owned 675,989 shares of common stock and 50,000 restricted stock units, all held directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SKELLY WILLIAM G

(Last) (First) (Middle)

ACURA PHARMACEUTICALS, INC.

616 N. NORTH COURT, SUITE 120

(Street)

PALATINE IL 60067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ACURA PHARMACEUTICALS, INC [ ACUR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/02/2026		M(1)		50,000	A	(2)	675,989(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units (2021 Plan)	(2)(4)	01/02/2026		M			50,000	(5)	(5)	Common Stock	50,000	(6)	0	D
Restricted Stock Units (2021 Plan)	(2)(4)	01/02/2026		A			50,000	(7)	(7)	Common Stock	50,000	(6)	50,000	D

Explanation of Responses:

1. Represents exchange of restricted stock units.

2. Par value of $.01 per share must be paid by Reporting Person upon exchange of Restricted Stock Units for stock

3. Does not include Restricted Stock Units.

4. 1 - for - 1

5. 50,000 Restricted Stock Units were granted on January 2, 2025. 25% of Restricted Stock Units vested on the last day of each of March, June, September and December 2025. Restricted Stock Units are being exchanged on a one for one basis for common stock, in each case upon payment of par value.

6. N/A

7. 50,000 Restricted Stock Units were granted on January 2, 2026. 25% of Restricted Stock Units vest on the last day of each of March, June, September and December 2026, subject to immediate vesting in the event of a change of control and certain other events. Reporting Person may elect to exchange up to 40% of Restricted Stock Units for cash and the remaining Restricted Stock Units will be exchanged on a one for one basis for common stock, in each case upon payment of, or deduction of par value. Distributions in respect of vested Restricted Stock Units will be made on the first business day of January 2027, or earlier upon a change of control.

	/s/ William Skelly	01/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did ACUR director William G. Skelly report?

William G. Skelly reported exchanging 50,000 restricted stock units granted on January 2, 2025 into 50,000 shares of common stock, and receiving a new grant of 50,000 restricted stock units on January 2, 2026.

How many ACUR shares does William G. Skelly own after these Form 4 transactions?

After the reported transactions, William G. Skelly beneficially owned 675,989 shares of common stock and 50,000 restricted stock units, all held directly.

What are the vesting terms of the 50,000 restricted stock units granted to ACUR director Skelly in 2026?

The 50,000 restricted stock units granted on January 2, 2026 vest 25% on the last day of each of March, June, September and December 2026, with immediate vesting in the event of a change of control and certain other events.

Can William G. Skelly receive cash instead of ACUR shares for his 2026 restricted stock units?

Yes. For the 50,000 restricted stock units granted on January 2, 2026, Skelly may elect to exchange up to 40% of the units for cash, while the remaining units will be exchanged on a one-for-one basis for common stock upon payment or deduction of par value.

When will distributions from William G. Skelly’s 2026 ACUR restricted stock units be made?

Distributions in respect of vested restricted stock units from the January 2, 2026 grant will be made on the first business day of January 2027, or earlier upon a change of control.

What is the exchange ratio between ACUR restricted stock units and common stock in Skelly’s Form 4?

The filing states a 1-for-1 exchange ratio, meaning each restricted stock unit is exchangeable for one share of common stock, subject to payment of par value.