TALPHERA, INC. — Director's Dealing 2017

Feb 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2017-02-07

Reporting Person: MORRIS TIMOTHY E (Chief Financial Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-07	Common Stock (Right to Buy)	$3	A	112500	Acquired	2028-02-06	Common Stock (112500)	Direct

Footnotes

F1: Issued pursuant to the 2011 Equity Incentive Plan.

F2: The shares subject to the option vest as follows: 25% of the shares subject to the option vest on the 12 month anniversary of the Vesting Commencement Date (February 7, 2017) and the remaining shares subject to the option vest on an equal monthly basis over the following 36 months.

F3: 100% Acceleration upon Change of Control.