Delaware
|
001-35068
|
41-2193603
|
||
(State of incorporation)
|
(Commission File No.)
|
(IRS Employer Identification No.)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $0.001 par value
|
ACRX
|
The Nasdaq Global Market
|
Named Executive Officer
|
Time-Based Stock Options (1)
|
Restricted Stock Units (2)
|
Performance Options (3)
|
Vincent J. Angotti, President and Chief Executive Officer
|
-
|
200,000
|
1,000,000
|
Pamela Palmer, M.D., Ph.D., Chief Medical Officer
|
137,500
|
68,750
|
68,750
|
Raffi Asadorian, Chief Financial Officer
|
137,500
|
68,750
|
68,750
|
Badri Dasu, Chief Engineering Officer
|
100,000
|
50,000
|
50,000
|
(1)
|
The time-based stock options shall vest as follows: one-fourth (1/4) shall vest on the one year anniversary of the date of grant, and the remaining options shall vest in equal monthly installments over the remaining 36 months, in all cases subject to the person’s Continuous Service (as defined in the Plan).
|
(2)
|
The restricted stock units shall vest in three equal consecutive annual installments on March 3, 2022, March 3, 2023 and March 3, 2024, in all cases subject to the person’s Continuous Service (as defined in the Plan).
|
(3)
|
The performance options shall be earned as follows: (i) 33% of the performance options if the Company's average closing stock price measured over a period of thirty consecutive trading days within the Performance Period equals or exceeds $4.00, (ii) an additional 33% of the performance option if the Company's average closing stock price measured over a period of thirty consecutive trading days within the Performance Period equals or exceeds $5.00, and (iii) 34% of the performance options if the Company's average closing stock price measured over a period of thirty consecutive trading days within the Performance Period equals or exceeds $6.00. Once earned, the performance options will vest on the one-year anniversary of the date on which the Committee certifies achievement of an applicable price target, in all cases subject to the person’s Continuous Service (as defined in the Plan).
|
Date: March 9, 2021
|
ACELRX PHARMACEUTICALS, INC.
|
|
|
|
|
|
|
|
By:
|
/s/ Raffi Asadorian
|
|
|
|
Raffi Asadorian
|
|
|
|
Chief Financial Officer
|
|