Company: SPRB
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055856
Chunk: 8

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 8
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 advised to review the Company’s amended and restated bylaws, which contain additional requirements relating to advance notice of stockholder proposals and director nominations. The timely submission of a proposal (including a director nomination) does not guarantee its inclusion in the Company’s proxy materials.

Who will count the votes?

Votes will be counted by the inspector of election appointed for the Annual Meeting.

What are“broker non-votes”?

As discussed above, when a beneficial owner of shares held in street name does not give voting instructions to his or her broker, bank or other securities intermediary holding his or her shares as to how to vote on matters deemed to be “non-routine” under NYSE rules, the broker, bank or other such agent cannot vote the shares. When there is at least one “routine” matter that the broker, bank or other securities intermediary votes on, the shares that are un-voted on “non-routine” matters are counted as “broker non-votes.” Proposal 1 is considered to be “non-routine” under NYSE rules and we therefore expect broker non-votes to exist in connection with this proposal. Proposal 2 and Proposal 3 are “routine” matters and therefore we expect brokers, banks or other securities intermediaries to vote on these proposals.

As a reminder, if you are a beneficial owner of shares held in street name, in order to ensure your shares are voted in the way you would prefer, you must provide voting instructions to your broker, bank or other agent by the deadline provided in the materials you receive from your broker, bank or other agent.

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How many votes are needed to adopt or approve each proposal and how will votes be counted? The following table summarizes the minimum vote needed to approve each proposal and the effect of abstentions and broker non-votes.

| ProposalNumber | ​ | Proposal Description          | ​ | Vote Required for Approval                                                                                                                                                                                                              | ​ | Voting Options                                                    |     | Effect ofAbstentions or Withhold Votes, as applicable | ​ | Effect ofBroker Non-Votes |
| 1              | ​ | Director Election Proposal    | ​ | Directors shall be elected by a plurality of the votes of the shares present in person, by remote communication, if applicable, or represented by proxy at the meeting and entitled to vote generally on the election of director.      | ​ | FOR or WITHHOLD with respect to each of the two director nominees |     | No effect                                             | ​ | No effect                 |
| 2