Dare Bioscience grants 10,000 options to director

Dare Bioscience director Susan L. Kelley received a grant of stock options covering 10,000 shares of common stock.

Accepted by SEC EDGAR 06/11/2026 - 05:03 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Dare Bioscience director Susan L. Kelley received a grant of stock options covering 10,000 shares of common stock. The options have an exercise price of $2.03 per share and expire on June 11, 2036. Following this award, she holds 10,000 stock options directly from this grant.

The option will vest in full on the earlier of the first anniversary of the grant date or immediately before the company’s first annual stockholders’ meeting after the grant, as long as she continues serving as a director. It will also become fully exercisable upon a change in control of Dare Bioscience.

Insider Trade Summary

Grant/Award: 10,000 shares

Grant/Award 1 txn

Insider Kelley Susan L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	10,000	$0.00	$0.00

Holdings After Transaction: Stock Option (right to buy) — 10,000 contracts (Direct)

Footnotes (1)

1. F1. This option will vest in full on the earlier of the first anniversary of the grant date or immediately prior to the issuer's first annual meeting of stockholders occurring after the grant date, subject to the director's continued service as a director, and will become exercisable in full upon a change in control of the issuer.

Key Figures

Stock options granted: 10,000 options Exercise price: $2.03 per share Expiration date: June 11, 2036 +2 more

5 metrics

Stock options granted 10,000 options Grant to director Susan L. Kelley

Exercise price $2.03 per share Stock option exercise price

Expiration date June 11, 2036 Option term end date

Underlying shares 10,000 shares Common stock underlying options

Holdings after grant 10,000 options Total options from this award following transaction

Key Terms

Stock Option (right to buy), change in control, annual meeting of stockholders

3 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

change in control financial

"will become exercisable in full upon a change in control of the issuer"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

annual meeting of stockholders financial

"immediately prior to the issuer's first annual meeting of stockholders occurring after the grant date"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Dare Bioscience (DARE) report for Susan L. Kelley?

Dare Bioscience reported that director Susan L. Kelley received a grant of 10,000 stock options. These options give her the right to buy common shares at a fixed $2.03 price, subject to vesting conditions and an expiration date in 2036.

How many Dare Bioscience (DARE) stock options were granted to Susan L. Kelley?

Susan L. Kelley was granted 10,000 stock options. Each option is linked to one share of Dare Bioscience common stock at a $2.03 exercise price, creating potential future ownership if she chooses to exercise after vesting.

What is the exercise price and expiration date of Susan L. Kelley’s Dare Bioscience options?

The options have a $2.03 per share exercise price and expire on June 11, 2036. This means she can buy shares at $2.03 any time after vesting and before that expiration, assuming she remains eligible to exercise.

When do Susan L. Kelley’s Dare Bioscience (DARE) stock options vest?

The options vest in full on the earlier of the first anniversary of the grant date or immediately before Dare Bioscience’s first annual stockholders’ meeting after the grant. Vesting also depends on her continued service as a director during that period.

How does a change in control affect Susan L. Kelley’s Dare Bioscience options?

If there is a change in control of Dare Bioscience, Susan L. Kelley’s options become fully exercisable. This accelerates the vesting schedule so she can exercise all 10,000 options, regardless of whether the normal time-based vesting conditions are met.

What is Susan L. Kelley’s Dare Bioscience option position after this Form 4 transaction?

After this transaction, Susan L. Kelley directly holds 10,000 stock options from this grant. These options are subject to the specified vesting terms and will remain exercisable until their June 11, 2036 expiration date, provided she satisfies the conditions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Kelley Susan L.

(Last) (First) (Middle)

3655 NOBEL DRIVE

SUITE 260

(Street)

SAN DIEGO CALIFORNIA 92122

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Dare Bioscience, Inc. [ DARE ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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

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

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

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

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
Stock Option (right to buy)	$2.03	06/11/2026		A		10,000		(1)	06/11/2036	Common stock	10,000	$0	10,000	D

Explanation of Responses:

1. This option will vest in full on the earlier of the first anniversary of the grant date or immediately prior to the issuer's first annual meeting of stockholders occurring after the grant date, subject to the director's continued service as a director, and will become exercisable in full upon a change in control of the issuer.

Remarks:

	/s/ Sabrina Martucci Johnson, Attorney-in-fact	06/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)