TALPHERA, INC. — Director's Dealing 2013

Dec 12, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2013-12-10

Reporting Person: Afable Richard (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-10	Stock Option (Right to Buy)	$8.18	A	15000	Disposed	2023-12-09	Common Stock (15000)	Direct

Footnotes

F1: Issued pursuant to the 2011 Equity Incentive Plan.

F2: The shares subject to the option vest as follows: 1/36th of the shares subject to the option vest in equal monthly installments over 36 months, subject to Optionee's Continuous Service on the Company's Board of Directors.

F3: Single Trigger Acceleration upon Change of Control.