Company: SPRB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059288
Chunk: 9

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 9
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 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              | ​ | Auditor Ratification Proposal | ​ | Affirmative vote of the majority of shares present in person, by remote communication, if applicable, or represented by proxy at the meeting and entitled to vote generally on the subject matter shall be the act of the stockholders. | ​ | FOR, AGAINST, or ABSTAIN