Company: SPRB
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059288
Chunk: 57

Company: SPRUCE BIOSCIENCES, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 57
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 grant date fair value of the 2024 PSUs for each of our NEOs is as follows: Dr. Szwarcberg, $581,687; Mr. Gharib, $249,665; and Dr. Charlton, $172,496. These amounts do not necessarily correspond to the actual value recognized or that may be recognized by the named executive officers. (3) Amounts disclosed for fiscal year 2023 reflect short-term incentive compensation earned in 2023 and paid in early 2024.

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(4) Amounts shown in this column represent $5,000 paid to each officer in matching payments under our 401(k) Plan, a qualified deferred compensation plan under Section 401(k) of the Internal Revenue Code of 1986, as amended. For Dr. Charlton, this amount also includes $343,200 in severance payments, paid in 2025 in connection with the termination of his employment on December 31, 2024. (5) Dr. Charlton departed as Chief Medical Officer in December 2024. Annual Base Salary The 2024 annual base salaries for our named executive officers are set forth in the table below.

| Name                                     | 2024 Base Salary |
| Javier Szwarcberg, M.D., MPH             |         $610,000 |
| Samir Gharib                             |         $465,100 |
| Ralph William Charlton III, M.D., M.A.S. |         $457,600 |

Compensation for our NEOs is reviewed and approved annually by the Board. The Board considers executive and company performance, compensation benchmarks of peer companies, and other discretionary factors in its overall assessment of and changes to compensation. Annual Incentive Plan Compensation We seek to motivate, reward and retain our executives for achievements relative to our corporate goals and expectations for each fiscal year. Each of our named executive officers is eligible to receive an annual performance bonus based on the achievement of performance goals as determined by the Board or an authorized committee thereof. Each named executive officer is assigned a target bonus expressed as a percentage of his base salary. The target bonus amounts for Dr. Szwarcberg, Mr. Gharib and Dr. Charlton for 2024 were set at 55%, 45%, and 40%, respectively. Annual performance bonuses for Dr. Szwarcberg, Mr. Gharib and Dr. Charlton for 2024 were approved in the amounts of $335