Dare Bioscience Insider Grant: 57,000 Options at $2.13 Exercise Price

Rhea-AI Filing Summary

MarDee Haring-Layton, identified as an officer (Chief Accounting Officer) and director of Dare Bioscience, Inc. (DARE), was granted an employee stock option for 57,000 shares on 09/04/2025 at an exercise price of $2.13. The Form 4 reports the options as beneficially owned directly following the grant, totaling 57,000 shares. The explanatory note states the option is a retention award that vests and becomes exercisable on 09/04/2027, unless certain performance criteria are met earlier, and the table indicates an expiration date of 09/04/2035. The Form is signed by the reporting person on 09/04/2025.

Positive

• 57,000 stock options granted as a retention award to the Chief Accounting Officer
• Clear vesting schedule stated: vests and becomes exercisable on 09/04/2027, with performance-based acceleration possible

Negative

• None.

Insights

Financial Analyst

TL;DR: A 57,000-share option grant at $2.13 aligns the CAO’s incentives with shareholder value over a multi-year vesting schedule.

The grant to the Chief Accounting Officer is presented as a retention award with a time-based vesting date of 09/04/2027 and a stated potential acceleration if performance criteria are satisfied. The exercise price is $2.13 and the option term appears to expire on 09/04/2035, with 57,000 shares reported as directly beneficially owned after the transaction. For investors, this is a routine executive compensation disclosure that signals management retention efforts without additional financial statement detail in this filing.

Corporate Governance Expert

TL;DR: This Form 4 documents a retention-focused equity grant to a senior officer, showing standard disclosure and vesting conditions.

The filing identifies the reporting person as both an officer and director and documents a retention award specifying vesting (09/04/2027) and potential performance-based acceleration. The direct beneficial ownership of 57,000 options is recorded post-grant. The disclosure meets Section 16 reporting requirements and provides clear vesting and exercisability language, but no additional governance items (e.g., committee approvals) are included in this form.

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

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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^*

Haring-Layton MarDee

(Last) (First) (Middle)

C/O DARE BIOSCIENCE, INC.

3655 NOBEL DRIVE, SUITE 260

(Street)

SAN DIEGO CA 92122

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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

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
Employee Stock Option (right to buy)	$2.13	09/04/2025		A		57,000		(1)	09/04/2035	Common stock	57,000	$0	57,000	D

Explanation of Responses:

1. This stock option was granted to the reporting person as a retention award and vests and becomes exercisable on 9/4/2027, provided, that, if certain performance criteria are satisfied, it will vest and become exercisable on the date such performance criteria are satisfied, subject to the reporting person's continuous service to the issuer.

Remarks:

	/s/ MarDee Haring-Layton	09/04/2025
	** 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 was reported on the Form 4 for DARE by MarDee Haring-Layton?

The Form 4 reports a grant of 57,000 employee stock options to MarDee Haring-Layton, with an exercise price of $2.13, dated 09/04/2025.

What is the vesting and exercisability schedule for the options reported on DARE Form 4?

The explanatory note states the options vest and become exercisable on 09/04/2027, subject to continuous service and potential earlier vesting if performance criteria are met.

How many shares does MarDee Haring-Layton beneficially own after the reported transaction for DARE?

The Form 4 shows 57,000 options beneficially owned directly following the reported transaction.

What is the option term or expiration date disclosed in the DARE Form 4?

The table in the filing indicates an expiration date of 09/04/2035 for the reported employee stock options.

What role does the reporting person hold at Dare Bioscience (DARE)?

The reporting person is identified as a Director and an Officer with the title Chief Accounting Officer.