# EDGAR Filing Document

**Accession Number:** 0001683553
**File Stem:** 0001209191-23-002150
**Filing Date:** 2023-1
**Character Count:** 9984
**Document Hash:** 6c2a8b2e20f07b66c00d06752353dc4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-002150.hdr.sgml**: 20230105

**ACCESSION NUMBER**: 0001209191-23-002150

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230103

**FILED AS OF DATE**: 20230105

**DATE AS OF CHANGE**: 20230105

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Gharib Samir M.
- **CENTRAL INDEX KEY:** 0001533302

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39594
- **FILM NUMBER:** 23513288

**MAIL ADDRESS:**
- **STREET 1:** 2655 PINE STREET
- **STREET 2:** #6
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94115
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPRUCE BIOSCIENCES, INC.
- **CENTRAL INDEX KEY:** 0001683553
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 812154263
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2001 JUNIPERO SERRA BLVD., SUITE 640
- **CITY:** DALY CITY
- **STATE:** CA
- **ZIP:** 94104
- **BUSINESS PHONE:** (415) 294-1687

**MAIL ADDRESS:**
- **STREET 1:** 2001 JUNIPERO SERRA BLVD., SUITE 640
- **CITY:** DALY CITY
- **STATE:** CA
- **ZIP:** 94104

## Ex-24

```

POWER OF ATTORNEY

Know all by these presents, that the undersigned hereby constitutes and appoints
Javier Szwarcberg of Spruce Biosciences, Inc. (the "Company"), and each of Sam
Miller and Chu Lee of Cooley LLP, signing individually, with full power of
substitution, the undersigned's true and lawful attorneys in fact and agents to:

(1) execute for and on behalf of the undersigned, in the undersigned's capacity
as an officer, director and/or more than 10% stockholder of the Company, Forms
3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of
1934 and the rules thereunder;

(2) do and perform any and all acts for and on behalf of the undersigned which
may be necessary or desirable to complete and execute any such Form 3, 4, or 5,
complete and execute any amendment or amendments thereto, and timely file such
form with the U.S. Securities and Exhange Commission and any stock exchange or
similar authority; and

(3) take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit to,
in the best interest of, or legally required by, the undersigned, it being
understood that the documents executed by such attorney-in-fact on behalf of the
undersigned pursuant to this Power of Attorney shall be in such form and shall
contain such terms and conditions as such attorney-in-fact may approve in such
attorney-in-fact's discretion.

The undersigned hereby grants to such attorney-in-fact full power and authority
to do and perform any and every act and thing whatsoever requisite, necessary,
or proper to be done in the exercise of any of the rights and powers herein
granted, as fully to all intents and purposes as the undersigned might or could
do if personally present, with full power of substitution or revocation, hereby
ratifying and confirming all that such attorney-in-fact, or such
attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be
done by virtue of this power of attorney and the rights and powers herein
granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in
serving in such capacity at the request of the undersigned, are not assuming,
nor is the Company assuming, any of the undersigned's responsibilities to comply
with Section 16 of the Securities Exchange Act of 1934.

This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4, and 5 with respect to the
undersigned's holdings of and transactions in securities issued by the Company,
unless earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of January 5, 2023.

/s/ Samir M. Gharib
Samir M. Gharib

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Gharib Samir M.<br><sub>(Last) (First) (Middle)</sub><br>C/O SPRUCE BIOSCIENCES, INC.<br>611 GATEWAY BOULEVARD, SUITE 740<br><sub>(Street)</sub><br>SOUTH SAN FRANCISCO, CA 94080<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President & CFO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SPRUCE BIOSCIENCES, INC. [ SPRB ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2022-12-30 |  | A | V | 1<sup>(1)</sup> | A | $0.9328 | 33611 | D |  |
| Common Stock | 2023-01-03 |  | M |  | 37500 | A | <sup>(2)</sup> | 71111 | D |  |
| Common Stock | 2023-01-03 |  | F |  | 15293<sup>(3)</sup> | D | $1.15 | 55818 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Restricted Stock Units | <sup>(2)</sup> | 2023-01-03 |  | M |  |  | 37500 | <sup>(4)</sup> | <sup>(4)</sup> | Common Stock | 37500 | $0.00 | 225000<sup>(5)</sup> | D |  |

---

### Footnotes:

(1) Shares acquired by the Reporting Person pursuant to the Issuer's 2020 Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c). The Reporting Person acquired the maximum shares allowable pursuant to Section 423 of the Internal Revenue Code.

(2) Each restricted stock unit ("RSU") represents a contingent right to receive one share of SPRB common stock.

(3) Represents shares withheld by the Issuer to satisfy a tax obligation realized by the Reporting Person upon the vesting and settlement of RSUs.

(4) On December 16, 2021, the Reporting Person was granted 150,000 time-based RSUs.  25% of the RSUs vested on each of June 30, 2022 and December 31, 2022 and 50% shall vest on June 30, 2023, subject to the Reporting Person's Continuous Service (as defined in the Issuer's 2020 Equity Incentive Plan).  The underlying common stock of the RSUs that vested on December 31, 2022, a non-trading date, were settled on January 3, 2023.  The Reporting Person was also granted 150,000 performance-based RSUs on December 16, 2021, which shall vest upon the achievement of specified performance goals.

(5) Represents the aggregate balances of 75,000 time-based RSUs and 150,000 performance-based RSUs.

**Remarks:**
Exhibit List: Exhibit 24 - Power of Attorney

**Signature:** /s/ Samir M. Gharib  
**Date:** 2023-01-05

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**