TALPHERA, INC. — Director's Dealing 2013

Nov 20, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2013-11-18

Reporting Person: Hamel Lawrence G (Chief Development Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-11-18	Common Stock	A	3433	$1.20	Acquired	36661	Direct
2013-11-18	Common Stock	D	1000	$8.30	Disposed	35661	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-10-17	Stock Option (Right to Buy)	$1.20	D	3433	Disposed	2017-04-03	Common Stock (3433)	Direct

Footnotes

F1: The shares subject to the option vest as follows: 1/4 of the shares subject to the option vest on September 20, 2007 with the remaining shares subject to the option vesting on an equal monthly basis over the following 36 months.