TALPHERA, INC. — Director's Dealing 2015

Mar 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2015-03-12

Reporting Person: Palmer Pamela P (Director, Chief Medical Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-12	Common Stock	M	25000	$1.32	Acquired	370015	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-03-12	Stock Option (Right to Buy)	$1.32	M	25000	Disposed	2027-04-02	Common Stock (25000)	Direct

Footnotes

F1: The shares subject to the option vest as follows: 1/4 of the shares subject to the option vest on December 31, 2007 with the remaining shares subject to the option vesting on an equal monthly basis over the following 36 months.