TALPHERA, INC. — Director's Dealing 2014

Jul 28, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2014-07-24

Reporting Person: EDWARDS MARK G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-24	Stock Option (Right to Buy)	$10.22	A	15000	Acquired	2024-07-23	Common Stock (15000)	Direct

Footnotes

F1: Issued pursuant to the 2011 Equity Incentive Plan

F2: The shares subject to the option vest as follows: 1/24th of the shares subject to the option vest in equal monthly installments over 24 months, subject to Optionee's Continuous Service on the Company's Board of Directors.

F3: 100% Acceleration upon Change of Control.