TALPHERA, INC. — Director's Dealing 2015

Apr 3, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2015-04-01

Reporting Person: Rosen Howard B (Director, Intermin CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-01	Stock Option (Right to Buy)	$3.92	A	240000	Acquired	2025-03-31	Common Stock (240000)	Direct

Footnotes

F1: Issued pursuant to the 2011 Equity Incentive Plan.

F2: The shares subject to the option vest as follows: 1/12th of the shares subject to the option vest in equal monthly installments over 12 months, subject to Optionee's Continuous Service as the Company's Interim Chief Executive Officer.