Company: SPRB
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0000950170-25-055856
Chunk: 69

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 69
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,500 shares of our common stock; Mr. Barretto-Ko held options to purchase 90,000 shares of our common stock; Mr. Grey held options to purchase 447,037 shares of our common stock; Dr. Muralidhar held options to purchase 92,500 shares of our common stock; Mr. Spiegelman held options to purchase 123,565 shares of our common stock; Ms. Simpson held options to purchase 157,617 shares of our common stock; and Dr. Ways held options to purchase 100,625 shares of our common stock. (2) Dr. O’Donnell resigned from the Board in May 2024. (3) Dr. Ways received $3,750 in consulting fees from his services as interim Chief Medical Officer in December 2024. We have reimbursed and will continue to reimburse all of our non-employee directors for their reasonable out-of-pocket expenses incurred in attending board of directors and committee meetings. The Board adopted a non-employee director compensation policy in September 2020 that became effective immediately prior to the execution and delivery of the underwriting agreement related to our initial public offering, which is applicable to all of our non-employee directors. The non-employee director compensation policy was further amended in March 2023. This compensation policy provides that each such non-employee director will receive the following compensation for service on the Board: • an annual cash retainer of $40,000; • an additional annual cash retainer of $30,000 to the executive chairman of the Board; • an additional annual cash retainer (not applicable to committee chairs) of $7,500, $5,000, and $4,000 for service as a member of the audit committee, compensation committee and the nominating and corporate governance committee, respectively; • an additional annual cash retainer of $15,000, $10,000, and $8,000 for service as chair of the audit committee, compensation committee and the nominating and corporate governance committee, respectively;

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an initial option grant to purchase 60,000 shares of our common stock on the date of each such non-employee director’s appointment to the Board, vesting monthly over three years; and

an annual option grant to purchase 30,000 shares of our common stock on the date of each of our annual stockholder meetings, vesting on the earlier of (i) the first anniversary of the grant date and (ii