---
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"
generated_at: "2026-05-16T13:21:59.199951+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Spruce Biosciences reprices underwater options to $104.13; director resigns

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-317532
- JSON: https://secwatch.observer/filing/0001193125-25-317532.json
- Plain text: https://secwatch.observer/filing/0001193125-25-317532.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.