X0306 4 2021-05-19 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 Employee Stock Option (Right to Buy) 3.73 2021-05-19 4 A 0 232000 0.00 A 2031-05-18 Common Stock 232000 232000 D Restricted Stock Units 2021-05-19 4 A 0 159000 0.00 A Common Stock 159000 159000 D The stock option vests as to 1/4 of the total shares on May 19, 2022 and then 1/48 of the total shares monthly until the option is fully vested, subject to the Reporting Person's provision of service to the Issuer on each vesting date. 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 May 19, 2022, and 1/16 of the remaining shares shall vest quarterly thereafter such that the RSUs shall be fully vested on May 19, 2025, 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/ Robert S. Breuil 2021-05-21