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TALPHERA, INC. Director's Dealing 2011

Feb 10, 2011

35181_dirs_2011-02-10_eb3b81df-367a-44e3-bf48-10b83ae27db1.zip

Director's Dealing

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SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2011-02-10

Reporting Person: Rosen Howard B (Director)

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Option (Right to Buy) $4.00 2018-08-14 Common Stock (22500) Direct
Stock Option (Right to Buy) $2.56 2010-06-15 Common Stock (16250) Direct

Footnotes

F1: The shares subject to the option vest as follows: 1/4 of the shares to the option vest on May 14, 2009 with the remaining shares subject to the option vesting on an equal monthly basis over the following 36 months.

F2: Reflects a 1-for-4 reverse stock split of the Company's issued an outstanding securities effective January 28, 2011.

F3: The shares subject to the option vest as follows: 1/4th of the shares vested on the vesting commencement date of January 1, 2010 and the remaining shares subject to the stock option vesting on an equal monthly basis over the following 36 months.