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TALPHERA, INC. Director's Dealing 2011

Sep 8, 2011

35181_dirs_2011-09-08_7a8eb4f5-9b6f-4e61-a333-556920377f46.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2011-09-02

Reporting Person: Hamel Lawrence G (Chief Development Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-02	Common Stock	F	1539	$3.10	Disposed	15360	Direct

Footnotes

F1: The shares were withheld to satisfy tax liability upon vesting of 25% of the restricted shares of Common Stock of the Company, previously reported on March 4, 2011.