Spruce Biosciences chair granted 1,700 stock options
SPRUCE BIOSCIENCES, INC.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
SPRUCE BIOSCIENCES, INC. Executive Chairman Michael G. Grey received a grant of stock options covering 1,700 shares of common stock at an exercise price of $52.70 per share. These options vest on the first anniversary of the grant date, will in any case be fully vested by the company’s 2027 annual stockholder meeting, and vest in full upon a Change in Control, all subject to his continuous service under the 2020 Equity Incentive Plan.
Insider Trade Summary
Grant/Award: 1,700 shares
Grant/Award
1 txn
Insider
GREY MICHAEL G
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 1,700 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 1,700 contracts (Direct)
Holdings Before and After:
Stock Option (Right to Buy), 0 to 1,700 contracts (Direct)
Footnotes (1)
- F1. The shares vest on the first anniversary of the Grant Date, provided that the Option will in any case be fully vested on the date of Company's 2027 annual stockholder meeting, subject to the Reporting Person's Continuous Service (as defined in the 2020 Equity Incentive Plan (the "Plan")) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan).
Key Figures
Option grant size: 1,700 options
Exercise price: $52.70 per share
Underlying shares: 1,700 shares
+2 more
5 metrics
Option grant size
1,700 options
Stock Option (Right to Buy) covering common stock
Exercise price
$52.70 per share
Conversion or exercise price of granted options
Underlying shares
1,700 shares
Common Stock underlying the options
Post-grant derivative holdings
1,700 options
Total derivative securities following transaction
Expiration date
May 20, 2036
Option expiration if not exercised earlier
Key Terms
Stock Option (Right to Buy), 2020 Equity Incentive Plan, Continuous Service, Change in Control, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
2020 Equity Incentive Plan financial
"Continuous Service (as defined in the 2020 Equity Incentive Plan"
Continuous Service financial
"subject to the Reporting Person's Continuous Service (as defined"
Change in Control financial
"will vest in full upon a Change in Control (as defined"
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.
grant, award, or other acquisition financial
"transaction_code_description: Grant, award, or other acquisition"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did SPRB Executive Chairman Michael Grey report?
Michael Grey reported receiving a grant of 1,700 stock options for Spruce Biosciences common shares. The options were granted at an exercise price of $52.70 per share and are part of his equity-based compensation as Executive Chairman.
What is the exercise price and size of Michael Grey’s SPRB option grant?
The grant covers 1,700 stock options with an exercise price of $52.70 per share. This means Grey can buy up to 1,700 Spruce Biosciences common shares at $52.70 once the options vest.
When do Michael Grey’s newly granted SPRB stock options vest?
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 is conditioned on Grey’s continuous service under the 2020 Equity Incentive Plan.
How does a Change in Control affect Michael Grey’s SPRB stock options?
In the event of a Change in Control, Grey’s 1,700 stock options will vest in full. This acceleration provision, defined in the 2020 Equity Incentive Plan, allows all granted options to become exercisable if control of Spruce Biosciences changes.
How many SPRB derivative securities does Michael Grey hold after this grant?
Following this transaction, Grey holds 1,700 derivative securities in the form of stock options. These options each relate to one share of Spruce Biosciences common stock and expire on May 20, 2036 if not exercised earlier.
AI-generated analysis. How Rhea-AI works. Not financial advice.
