{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-317532","form_type":"8-K","ticker":"SPRB","cik":"0001683553","company_name":"SPRUCE BIOSCIENCES, INC.","filed_at":"2025-12-12T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.141281+00:00","generated_at":"2026-05-16T13:21:59.199951+00:00","sec_items":["5.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Spruce Biosciences reprices underwater options to $104.13; director resigns","bullets":["Director Tiba Aynechi resigned from board and Compensation Committee effective Dec 11, 2025, no disagreement.","Board approved repricing of 30,174 underwater options to $104.13 per share (30-day trailing VWAP).","CEO Javier Szwarcberg holds 11,666 repriced options (original $344.25); CFO Samir Gharib holds 6,131 (original $122.65–$1,506).","Repriced options require 12-month retention, FDA approval, or change in control to exercise at reduced price; vesting unchanged."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-317532","json":"https://secwatch.observer/filing/0001193125-25-317532.json","markdown":"https://secwatch.observer/filing/0001193125-25-317532.md","text":"https://secwatch.observer/filing/0001193125-25-317532.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525317532/0001193125-25-317532-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1683553/000119312525317532/sprb-20251211.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T13:21:59.199951+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}