X0306 4 2020-09-24 0 0001534133 GRAYBUG VISION, INC. GRAY 0001241009 BREUIL ROBERT S C/O GRAYBUG VISION, INC. 275 SHORELINE DRIVE, SUITE 450 REDWOOD CITY CA 94065 0 1 0 0 Chief Financial Officer Restricted Stock Units 0.00 2020-09-24 4 A 0 80000 0.00 A Common Stock 80000 80000 D Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. The RSUs shall vest as to 1/4 of the total shares on September 4, 2021, and 1/12 of the remaining shares shall vest quarterly thereafter such that the RSUs shall be fully vested on September 4, 2024, subject to the continued service of the Reporting Person to the Issuer through each vesting date. The RSUs do not expire; they either vest or are canceled prior to vest date. /s/ Frederic Guerard, as Attorney-in-Fact for Robert S. Breuil 2020-09-28