Spruce Biosciences (SPRB) grants director Keli Walbert 1,700 options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Spruce Biosciences director Keli Walbert received a new stock option grant. The Form 4 shows an award of 1,700 stock options for common stock at an exercise price of $52.70 per share, with 1,700 derivative securities held after the transaction.
The options vest on the first anniversary of the grant date and will in any case be fully vested by the company’s 2027 annual stockholder meeting, subject to continuous service. They also vest in full upon a change in control. This is a compensation-related grant, not an open-market purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Walbert Keli
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 1,700 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 1,700 shares (Direct)
Footnotes (1)
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Key Figures
Stock options granted: 1,700 options
Exercise price: $52.70 per share
Options after transaction: 1,700 derivative securities
+3 more
6 metrics
Stock options granted
1,700 options
Grant to director Keli Walbert on May 21, 2026
Exercise price
$52.70 per share
Exercise price for granted stock options
Options after transaction
1,700 derivative securities
Total stock options held following grant
Option expiration date
May 20, 2036
Expiration of granted stock options
Vesting milestone
First anniversary of grant date
Initial vesting date, subject to continuous service
Full vesting backstop
2027 annual stockholder meeting
Options fully vested by 2027 meeting, if still in service
Key Terms
Stock Option, Continuous Service, Change in Control, 2020 Equity Incentive Plan
4 terms
Stock Option financial
"Stock Option (Right to Buy)"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
Continuous Service financial
"subject to the Reporting Person's Continuous Service (as defined in the 2020 Equity Incentive Plan"
Change in Control financial
"and will vest in full upon a Change in Control (as defined in the Plan)"
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.
2020 Equity Incentive Plan financial
"as defined in the 2020 Equity Incentive Plan (the "Plan")"
FAQ
What insider transaction did SPRUCE BIOSCIENCES (SPRB) report for Keli Walbert?
Spruce Biosciences reported that director Keli Walbert received a grant of 1,700 stock options for common stock. The options are a compensation-related award, not shares bought or sold in the open market, and are exercisable at $52.70 per share.
How many SPRB stock options were granted to Keli Walbert and at what price?
Keli Walbert was granted 1,700 stock options for Spruce Biosciences common stock. Each option has an exercise price of $52.70 per share, meaning Walbert can buy shares at that price once the options are vested and exercised.
What are the vesting terms for Keli Walbert’s new SPRB stock options?
The options vest on the first anniversary of the grant date and will in any case be fully vested by Spruce Biosciences’ 2027 annual stockholder meeting. Vesting requires continuous service and the options also vest in full upon a change in control under the company’s plan.
Is Keli Walbert’s Form 4 transaction in SPRB an open-market trade?
No. The Form 4 shows a grant of 1,700 stock options as compensation, not an open-market purchase or sale. The transaction is coded as an award acquisition, with an exercise price of $52.70 and vesting based on service and corporate events.
When do Keli Walbert’s SPRB stock options expire?
The granted stock options for Spruce Biosciences held by Keli Walbert expire on May 20, 2036. This long-dated expiration gives a substantial window to meet vesting conditions, exercise the options, and potentially benefit from future stock price performance, subject to plan terms.