X0306 4 2022-06-15 0001780097 Baudax Bio, Inc. BXRX 0001923107 Dilmore Jillian C/O BAUDAX BIO, INC. 490 LAPP ROAD MALVERN PA 19355 0 1 0 1 Corporate Controller/Secretary PFO and PAO Common Stock 2022-06-15 4 A 0 15467 0 A 15738 D Each Restricted Stock Unit ("RSU") is the economic equivalent of one share of Baudax Bio, Inc. (the "Company") common stock, and may be settled, at the Company's option, in cash, shares of common stock, or a combination thereof. The RSUs vest 50% on June 15, 2023 and 50% on June 15, 2024, in each case subject to continued service with the Company through the applicable vesting date. Upon vesting, if settled in cash, each RSU will entitle the grantee to a cash-payment equal to the "Fair Market Value" (as defined in the Company's 2019 Equity Incentive Plan) of one share of the Company's common stock on the applicable vesting date. /s/ Jillian Dilmore 2022-06-17