Company: SPRB
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055856
Chunk: 56

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 56
---
harib                             |        2024 |    465,100 | 209,925 |             249,665 | —                 |                                             — |                         5,000 |   929,690 |
| President and Chief Financial Officer    |        2023 |    447,200 |  30,186 |             517,440 | —                 |                                       201,240 |                         5,000 | 1,201,066 |
| Ralph William Charlton III, M.D., M.A.S. |        2024 |    457,600 | 183,040 |             172,496 | —                 |                                             — |                       348,200 | 1,161,336 |
| Former Chief Medical Officer(5)          |        2023 |    440,000 |  26,400 |             357,504 | —                 |                                       176,000 |                         5,000 | 1,004,904 |

(1) Amounts disclosed for fiscal year 2024 reflect retention bonuses earned and paid in 2024. Amounts disclosed for fiscal year 2023 reflect discretionary upward adjustments to target short-term incentive compensation earned in 2023 and paid in early 2024. (2) The dollar amounts in this column reflect the aggregate grant date fair value of restricted stock unit (“RSU”) and performance stock unit (“PSU”) awards granted during the indicated fiscal year computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Committee (“ASC”) Topic 718, excluding the effect of estimated forfeitures. The grant date fair value of each RSU is measured based on the closing price of our common stock on the date of grant. For accounting purposes, the grant date fair value of PSUs was calculated based on the probable outcome of achieving the performance metric as of the grant date. The 2024 PSUs were granted on March 14, 2024, at a fair value of $0.8106 per share. Assuming the performance conditions will be achieved, the grant date fair value of the 2024 PSUs for each of our NEOs is as follows: Dr. Szwarcberg, $581,687; Mr. Gharib, $249,665; and Dr. Charlton, $172,496. These amounts do not necessarily correspond to the actual value recognized or that may be recognized by the named executive officers. (3) Amounts disclosed for