Spruce Biosciences (SPRB) CMO Adrian W. Quartel Receives 13,000 RSUs

What Happened
Adrian W. Quartel, Chief Medical Officer of Spruce Biosciences (SPRB), received a grant of 13,000 restricted stock units (RSUs) on July 27, 2026. The RSUs were reported as a derivative award (transaction code A) with a reported acquisition price of $0.00, so no cash was exchanged on the grant.

Key Details

• Transaction date: 2026-07-27; Form 4 filed 2026-07-29 (filed within the normal two-business-day reporting window).
• Grant size and price: 13,000 RSUs at $0.00 (total cash paid = $0).
• Shares owned after transaction: not specified in this Form 4.
• Footnotes:
  • F1: Each RSU represents a contingent right to receive one share of the issuer’s common stock upon vesting.
  • F2: Vesting schedule — 25% of the RSUs vest on June 15, 2027, and 25% on each of June 15, 2028, 2029 and 2030, subject to continuous service.
• Transaction type: Award/Grant of RSUs (derivative), not an open-market purchase or sale.

Context
RSU grants are common elements of executive compensation and do not involve an immediate purchase or sale of shares. These RSUs will convert into common shares only as they vest per the stated schedule, so this grant does not reflect an immediate change in market exposure. As always, grants are compensation-related; they should be viewed differently from open-market purchases (which can signal confidence) or sales (which can signal liquidity needs).