secwatch.observer — SEC 8-K summary
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Issuer:     SPRUCE BIOSCIENCES, INC. (SPRB)
CIK:        0001683553
Form:       8-K
Filed at:   2025-12-12T23:59:59+00:00
Accession:  0001193125-25-317532
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Spruce Biosciences reprices underwater options to $104.13; director resigns
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1683553/000119312525317532/0001193125-25-317532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1683553/000119312525317532/sprb-20251211.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-317532

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer