[3] – Parkman Healthcare Partners LLC (CIK 0001777015)

Rhea-AI Filing Summary

Spruce Biosciences (SPRB): Initial insider ownership reported. A Form 3 discloses indirect beneficial ownership of 1,051 shares of common stock. The reporting person is identified as a Director and indicates the shares are held through private funds, with beneficial ownership disclaimed beyond any pecuniary interest.

The filing notes it is made by more than one reporting person, and includes a remark that these securities are also indirectly beneficially owned by Gregory Martinez.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Parkman Healthcare Partners LLC

(Last) (First) (Middle)

700 CANAL STREET

(Street)

STAMFORD CT 06902

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/06/2025

3. Issuer Name and Ticker or Trading Symbol
SPRUCE BIOSCIENCES, INC. [ SPRB ]

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.0001 per share	1,051	I	See footnote(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Parkman Healthcare Partners LLC

(Last) (First) (Middle)

700 CANAL STREET

(Street)

STAMFORD CT 06902

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Martinez Gregory

(Last) (First) (Middle)

700 CANAL STREET

(Street)

STAMFORD CT 06902

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The amount reported represents the Reporting Persons' pecuniary interest held through an investment in private funds. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 3 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Remarks:

As previously disclosed in Parkman Healthcare Partners LLC's Form 3 with respect to the Issuer filed on October 8, 2025, these securities are also indirectly beneficially owned by Gregory Martinez.

	Parkman Healthcare Partners LLC, By: /s/ Gregory Martinez, Chief Investment Officer	10/15/2025
	/s/ Gregory Martinez	10/15/2025
	** 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 5 (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 did SPRB disclose in this Form 3?

An initial statement of beneficial ownership showing 1,051 shares of common stock held indirectly.

How are the 1,051 SPRB shares held?

They are held through private funds, with beneficial ownership disclaimed beyond pecuniary interest.

What is the reporting person’s relationship to SPRB?

The filing indicates the reporting person is a Director.

Is this a joint Form 3 filing for SPRB?

Yes. The box for Form filed by More than One Reporting Person is checked.

Who else is referenced in the remarks?

The remarks state the securities are also indirectly beneficially owned by Gregory Martinez.

What is the date of the event requiring this Form 3?

The event date is 10/06/2025.