Welcome to our dedicated page for Spruce Biosciences SEC filings (Ticker: SPRB), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Spruce Biosciences, Inc. (SPRB) SEC filings page on Stock Titan provides direct access to the company’s regulatory disclosures, along with AI-powered summaries to help interpret complex documents. Spruce is a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for neurological disorders with significant unmet medical need, and its filings offer detailed insight into clinical programs, financing arrangements, and corporate governance.
Investors can review current reports on Form 8-K that describe material events such as the company’s loan and security agreement with Avenue Venture Opportunities Fund II, L.P. for up to $50.0 million in term loans tied to regulatory and commercial milestones for tralesinidase alfa enzyme replacement therapy (TA-ERT) in Sanfilippo Syndrome Type B (MPS IIIB). Other 8-K filings cover a private placement of common stock and pre-funded warrants with institutional investors, conditional Nasdaq approval and resumption of trading on the Nasdaq Capital Market, reverse stock split implementation, quarterly financial results, and changes in the composition of the board of directors.
Spruce’s filings also detail equity and compensation structures, including option repricing actions for certain outstanding stock options and the non-employee director compensation policy under which new directors such as Keli Walbert receive stock option grants and cash retainers. These documents help clarify how the company uses equity incentives and capital structure adjustments to support its development and listing objectives.
Through this page, you can monitor Spruce’s annual reports (Form 10-K) and quarterly reports (Form 10-Q) when filed, which expand on risk factors, financial statements, and management’s discussion of operations. Form 4 and related insider transaction reports, when available, can be used to track trading activity by officers and directors. Stock Titan’s AI tools summarize lengthy filings, highlight key terms in financing agreements, and surface important disclosures related to TA-ERT’s development path, Nasdaq listing status, and the company’s liquidity and capital resources.
Spruce Biosciences insider Samir Gharib, President and CFO, reported changes to his stock options following a one-time option repricing effective December 11, 2025. The repricing applies to options with exercise prices of $106.09 per share or higher held by employees and directors who remained in continuous service as of that date.
Under this program, the exercise price of the affected options was amended to $104.13 per share, which equals the thirty-day trailing volume-weighted average price of Spruce Biosciences common stock on the Nasdaq Capital Market on the repricing date. If an optionholder exercises a repriced option before the end of a one-year retention period, they must still pay the original higher exercise price per share.
The repricing did not change vesting schedules, expiration dates, or the number of shares underlying the options. Certain grants for Gharib continue to vest in equal monthly installments of 1/48th of the shares from December 16, 2021 and January 3, 2022, conditioned on his continuous service with the company.
Spruce Biosciences' chief executive officer and director reported a stock option repricing involving 10,000 employee stock options. On December 11, 2025, 10,000 options with an exercise price of $344.25 per share were disposed of and 10,000 new employee stock options were acquired with an exercise price of $104.13 per share, all expiring on January 2, 2032.
The filing explains that this reflects a one-time option repricing effective December 11, 2025 for options with exercise prices of $106.09 per share or higher. The repriced options now carry an exercise price of $104.13 per share, equal to the thirty-day trailing volume-weighted average price of the common stock on the Nasdaq Capital Market on the repricing date. If an optionholder exercises a repriced option before completing a one-year retention period, they must pay the original higher exercise price, and vesting, expiration and share amounts remain unchanged.
Spruce Biosciences reported that a director updated several stock option grants on December 11, 2025. The disclosure describes a one-time option repricing that followed an earlier reverse stock split in which every seventy-five shares of common stock were combined into one share, and existing options and their exercise prices were adjusted accordingly.
Under the repricing, options with exercise prices of $106.09 per share or higher were amended so the exercise price is now $104.13 per share, equal to the 30-day trailing volume-weighted average price of the common stock on the Nasdaq Capital Market on the repricing date. For this director, fully vested stock option positions expiring between 2029 and 2033 were canceled and replaced one-for-one at the new price, leaving separate grants of 173, 309, 362, 133 and 400 options outstanding. Vesting schedules, expiration dates and share counts were unchanged, and any option exercised within a one-year retention period must still be paid at the original, higher exercise price.
Spruce Biosciences director reported an option repricing and prior reverse split effects. On December 11, 2025, the director reported the acquisition of 800 stock options with a new exercise price of $104.13 per share and the disposition of 800 options with a $169.50 exercise price, both expiring on May 24, 2033, as part of a one-time option repricing. Earlier, effective August 4, 2025, every seventy-five shares of common stock were combined into one share in a reverse stock split, and related option share counts and exercise prices were adjusted. The repriced options vest in equal monthly installments over three years from May 25, 2023, fully vest on the third anniversary, and vest in full upon a Change in Control under the equity plan, while early exercise within a roughly one-year retention period requires paying the original exercise price.
Spruce Biosciences reported a new stock option grant to a director. On 12/11/2025, the director acquired stock options to purchase 3,400 shares of common stock at an exercise price of $88.41, expiring on 12/10/2035. The options vest in equal monthly installments over three years so they are fully vested on the third anniversary of the grant date, and they will vest in full upon a Change in Control, subject to the director’s continuous service under the company’s 2020 Equity Incentive Plan.
Spruce Biosciences, Inc. filed a Form 3 initial beneficial ownership report for a company director, stating that no securities were beneficially owned as of 12/11/2025.
The report is filed by one reporting person under Section 16(a) and includes a power of attorney authorizing Samir Gharib, as attorney-in-fact, to sign on the reporting person's behalf.
Spruce Biosciences, Inc. appointed Keli Walbert to its board as a Class I director effective December 11, 2025, with a term running through the 2027 annual stockholder meeting. She will also serve on the Compensation Committee.
Upon joining, she received a nonstatutory option for 3,400 common shares vesting monthly over three years, plus an annual cash retainer of $40,000 as director and $5,000 for committee service, pro-rated for 2025. From January 1, 2026, her committee retainer rises to $5,500, and beginning with the 2026 annual meeting she becomes eligible for an annual nonstatutory stock option to purchase 1,700 shares, vesting by the next annual meeting or the first anniversary of grant.
Spruce Biosciences executive Samir Gharib, the company’s President and CFO, reported vesting of restricted stock units (RSUs) that converted into common shares. On December 10, 2025, 514 RSUs from a March 14, 2024 grant vested after a specified clinical development objective was achieved; 184 shares were withheld for taxes, resulting in a net issuance of 330 common shares. On December 11, 2025, 1,900 RSUs from a separate grant vested, with 680 shares withheld for taxes and a net issuance of 1,220 shares. Following these transactions, Gharib directly owns 7,616 shares of Spruce Biosciences common stock and 5,700 RSUs, each representing a right to receive one share.
Spruce Biosciences, Inc. reported insider equity activity by its chief executive officer and director involving restricted stock units (RSUs) that vested into common shares and related tax withholding. On December 10, 2025, 1,196 RSUs vested into common stock, and 428 shares were withheld for taxes at $85.67 per share, resulting in a net issuance of 768 shares. On December 11, 2025, 4,950 RSUs vested, and 2,194 shares were withheld for taxes at $88.41 per share, resulting in a net issuance of 2,756 shares.
Following these transactions, the reporting person directly owned 12,998 shares of Spruce Biosciences common stock and 14,850 RSUs. The RSUs include a 4,784-unit award tied to achievement of a specified clinical development objective, vesting in four annual 25% tranches, and a separate 19,800-unit award vesting 25% at grant and 25% on each of December 15, 2026, 2027 and 2028, subject to continued service.
Spruce Biosciences, Inc. reported a board change and a broad repricing of employee and director stock options. On December 11, 2025, Tiba Aynechi, Ph.D. resigned from the board and as Chair of the Compensation Committee, and her resignation was stated to be not due to any disagreement with the company.
On the same date, the board approved an option repricing that reduced the exercise price of certain outstanding options granted under its 2016 and 2020 equity plans to $104.13 per share, based on the 30‑day volume‑weighted average price. The repricing covers 30,174 shares and includes underwater options held by the CEO (11,666 options at $344.25) and the President and CFO (6,131 options at $122.65 to $1,506.00). A retention period applies, ending on the earlier of 12 months after the repricing date, FDA approval of the tralesinidase alfa product candidate, or a change in control, and options exercised before that time use the original higher exercise price. Vesting schedules, expirations, and share counts for these options were not changed.