TALPHERA, INC. — Director's Dealing 2013

Feb 13, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2013-02-11

Reporting Person: ADAMS ADRIAN (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-11	Stock Option (Right to Buy)	$5.45	A	15000	Acquired	2023-02-10	Common Stock (15000)	Direct

Footnotes

F1: Issued pursuant to the 2011 Equity Incentive Plan.

F2: The shares subject to the option vest as follows: 1/36 of the shares subject to the option vest on an equal monthly basis over the 36 months following the Vesting Commencement Date of 2/11/2013.

F3: Subject to full vesting acceleration as of immediately prior to the effective date of certain change in control transactions involving the Company.