Dare Bioscience, Inc. — Director's Dealing 2016

May 28, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Cerulean Pharma Inc. (CERU)
CIK: 0001401914
Period of Report: 2015-06-26

Reporting Person: ONeill James E (Principal Accounting Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Incentive Stock Option (right to buy)	$4.40	2024-10-07	Common Stock (13000)		Direct
Incentive Stock Option (right to buy)	$8.16	2025-02-04	Common Stock (4900)		Direct

Footnotes

F1: This option was granted on October 8, 2014 and is scheduled to vest over four years, with 25% of the shares vesting on the first anniversary of September 15, 2014 and the remainder vesting over the ensuing three years at a rate of 2.0833% per month.

F2: This option was granted on February 5, 2015. The shares underlying the option are scheduled to vest in equal monthly installments from January 31, 2015 through December 31, 2018.