Barretto-Ko Percival 4

What Happened

• Percival Barretto‑Ko, a director of Spruce Biosciences (SPRB), was awarded 1,700 shares on 2026-05-21. The filing shows an acquisition at $0.00 (no cash exchanged); the award is reported as a derivative security (grant/award).
• This is a compensation/awarded grant (not an open‑market purchase or sale) and is typically routine for directors rather than a market‑timing trade.

Key Details

• Transaction date: 2026-05-21; filing date: 2026-05-26.
• Price: $0.00 (shares granted, no cash paid).
• Shares owned after transaction: Not specified in the Form 4 provided.
• Vesting/other terms (from filing footnote): the shares vest on the first anniversary of the grant date, will be fully vested by the company’s 2027 annual stockholder meeting subject to continuous service, and will vest in full upon a Change in Control.
• Filing timeliness: Form 4 was filed on 2026-05-26 for the 2026-05-21 grant. Form 4s are generally due within two business days; this filing date aligns with that window.

Context

• This transaction is an equity award (likely restricted shares/RSUs) subject to vesting conditions — not an immediate sale or cash exercise — so it does not reflect an instantaneous change in insider cash exposure to the stock.
• Awards to directors are common as compensation and should be interpreted as part of standard equity compensation rather than a clear bullish or bearish signal.