Company: SPRB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059288
Chunk: 67

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 67
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 increase will be less than the amount set forth in clauses (i) and (ii). Pursuant to the automatic increase provision of the ESPP, the number of shares of our common stock reserved for issuance under our ESPP was increased by 410,298 shares on January 1, 2024 and 422,312, shares on January 1, 2025.

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Equity Compensation Plan Information The following table provides certain information as of December 31, 2024, with respect to all of our equity compensation plans in effect on that date.

| Plan Category                                              | Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights | Weighted-average Exercise Price of Outstanding Options, Warrants and Rights(3) | Number of Securities Remaining Available for Future Issuance under Equity Compensation Plans (Excluding Securities Reflected 
 in Column (a))                                                                                                               |
|                                                            |                                                                                          -a |                                                                             -b | -c                                                                                                                           |
| Equity compensation plans approved by security holders(1)  |                                                                               4,825,865 (2) |                                                                          $2.81 | 2,990,602 (4)                                                                                                                |
| Equity compensation plans not approved by security holders |                                                                                     875,000 |                                                                          $4.59 | -                                                                                                                            |
| Total                                                      |                                                                               5,700,865 (2) |                                                                          $3.26 | 2,990,602 (4)                                                                                                                |

(1) Consists of the 2016 Plan, the 2020 Plan and the 2020 Employee Stock Purchase Plan (the “ESPP”). The number of shares of our common stock reserved for issuance under the 2020 Plan is subject to an automatic increase on January 1st of each year, for a period of ten years, commencing on January 1, 2021 and ending on (and including) January 1, 2030, in an amount equal to 5% of the total number of shares of our common stock outstanding on December 31 of the preceding year; provided, however, that the Board may act prior to January 1st of a given year to provide that the increase for such year will be a lesser number of shares of our common stock. The number of shares of our common stock reserved for issuance under the ESPP is subject to an automatic increase on January 1st of each year, for a period of ten years, commencing