X0306 4 2016-02-10 0 0001427925 ACELRX PHARMACEUTICALS INC ACRX 0001511368 Hamel Lawrence G C/O ACELRX PHARMACEUTICALS, INC. 351 GALVESTON DRIVE REDWOOD CITY CA 94063 0 1 0 0 Chief Development Officer Common Stock (Right to Buy) 3.40 2016-02-10 4 A 0 70000 0.00 A 2017-02-10 2026-02-09 Common Stock 70000 70000 D Issued pursuant to the 2011 Equity Incentive Plan. The shares subject to the option vest as follows: 25% of the shares subject to the option vest on the 12 month anniversary of the Vesting Commencement Date (February 10, 2016) and the remaining shares subject to the option vest on an equal monthly basis over the following 36 months. The shares have double-trigger acceleration on a change of control. /s/ Martha Adler, Attorney-in-Fact 2016-02-18