Company: SPRB
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055856
Chunk: 68

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 68
---
 of shares of our common stock designated by action of the Board prior to the applicable January 1st. On January 1, 2025, the numbers of shares of our common stock reserved for issuance under the 2020 Plan and the ESPP were increased by 2,111,564 shares and 422,312 shares, respectively, pursuant to the automatic increase provisions of such plans. (2) Consists of shares of our common stock issuable upon exercise of 2,586,155 outstanding stock options and vesting of 2,239,710 outstanding RSUs and PSUs. (3) The weighted-average exercise price excludes RSUs and PSUs. (4) Consists of shares available for future issuance under the 2020 Plan and the ESPP. As of December 31, 2024, 2,063,835 shares of our common stock were available for issuance under the 2020 Plan, and 926,767 shares of our common stock were available for issuance under the ESPP. Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information From time to time, the Company grants stock options to its employees, including the named executive officers. The Company did not grant options to its executive officers in 2024. For more information on the Company’s practices regarding grants for non-executive employees, please see the section “—Compensation Committee—Compensation Committee Processes and Procedures—” above. For executive officers, the Company has historically granted new-hire option awards on or soon after a new hire’s employment start date. Also, non-employee directors receive automatic grants of initial and annual stock option awards, at the time of a director’s initial appointment or election to the board and at the time of each annual meeting of the Company’s stockholders, respectively, pursuant to the Non-Employee Director Compensation Policy, as further described under the heading, “Director Compensation” below. The Company does not otherwise maintain any written policies on the timing of awards of stock options, stock appreciation rights, or similar instruments with option-like features. The Compensation Committee considers whether there is any material nonpublic information (“MNPI”) about the Company when determining the timing of stock option grants and does not seek to time the award of stock options in relation to the Company’s public disclosure of MNPI. The Company has not timed the release of MNPI for the purpose of affecting the value of executive compensation.

<div align='center'>46</div>

Director Compensation