TALPHERA, INC. — Director's Dealing 2020

Feb 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACELRX PHARMACEUTICALS INC (ACRX)
CIK: 0001427925
Period of Report: 2020-02-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-06	Common Stock	A	68750	$0.00	Acquired	612907	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-02-06	Stock Option (Right to Buy)	$1.72	A	137500	Acquired	2030-02-06	Common Stock (137500)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

F2: The restricted stock units shall vest in three equal consecutive annual installments on February 6, 2021, February 6, 2022 and February 6, 2023.

F3: 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 grant date and the remaining shares subject to the option vest on an equal monthly basis over the following 36 months.