Dare Bioscience (DARE) director receives 23,696 RSUs in lieu of cash pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kelley Susan L. reported acquisition or exercise transactions in this Form 4 filing.

Dare Bioscience, Inc. reported that director Susan L. Kelley received a grant of 23,696 shares of common stock in the form of restricted stock units (RSUs). These RSUs were granted in lieu of cash compensation for her service on the board and its committees.

Each RSU represents a right to receive one share of Dare Bioscience common stock when vested, and the RSUs vest on January 4, 2027. Following this award, Kelley’s reported direct holdings total 23,696 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kelley Susan L.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common stock	23,696	$0.00	--

Holdings After Transaction: Common stock — 23,696 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs granted: 23,696 shares Transaction price per share: $0.00 per share Holdings after transaction: 23,696 shares +1 more

4 metrics

RSUs granted 23,696 shares Restricted stock units granted on June 30, 2026

Transaction price per share $0.00 per share Grant reported as in lieu of cash compensation

Holdings after transaction 23,696 shares Total direct holdings following RSU grant

Vesting date January 4, 2027 RSUs vest on this date

Key Terms

restricted stock units, RSU, contingent right, vests

4 terms

restricted stock units financial

"Represents shares underlying restricted stock units ("RSU") granted to the reporting person in lieu of cash compensation"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSU financial

"Each RSU represents a contingent right to receive one share when vested."

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

contingent right financial

"Each RSU represents a contingent right to receive one share when vested."

vests financial

"The RSUs vests on January 4, 2027."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:22 PM Accepted by SEC EDGAR 07/02/2026 - 04:21 PM

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)
06/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock	06/30/2026		A		23,696⁽¹⁾	A	$0	23,696	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents shares underlying restricted stock units ("RSU") granted to the reporting person in lieu of cash compensation for service on the issuer's board of directors and its committees. Each RSU represents a contingent right to receive one share when vested. The RSUs vests on January 4, 2027.

Remarks:

	/s/ Sabrina Martucci Johnson, Attorney-in-fact	07/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

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

Dare Bioscience reported that director Susan L. Kelley received a grant of 23,696 restricted stock units. The award is in common stock and reflects compensation for her service on the company’s board of directors and its committees, rather than being paid in cash.

How many Dare Bioscience RSUs were granted to director Susan L. Kelley?

Susan L. Kelley was granted 23,696 restricted stock units tied to Dare Bioscience common stock. This entire amount was acquired in a single transaction and, after the grant, her reported direct holdings total 23,696 shares associated with these RSUs under the Form 4 filing.

What are the key terms of Susan L. Kelley’s RSU grant at Dare Bioscience (DARE)?

Kelley’s award consists of restricted stock units, each representing one share of Dare Bioscience common stock when vested. The RSUs were issued in lieu of cash compensation for board and committee service, and they vest on January 4, 2027, according to the Form 4 footnote.

When do Susan L. Kelley’s Dare Bioscience RSUs vest?

The restricted stock units granted to Susan L. Kelley vest on January 4, 2027. Vesting means she becomes entitled to receive one share of Dare Bioscience common stock for each RSU at that date, assuming continued satisfaction of the award’s service-related conditions.

Was cash paid for Susan L. Kelley’s Dare Bioscience RSU award?

No cash was paid for the RSU award; the transaction price per share is reported as zero. The footnote explains the RSUs were granted in lieu of cash compensation for her service on Dare Bioscience’s board of directors and its committees, replacing a cash payment.