Sec Form 4 Filing - Schutte John @ ACURA PHARMACEUTICALS, INC - 2021-06-09

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Schutte John
2. Issuer Name and Ticker or Trading Symbol
ACURA PHARMACEUTICALS, INC [ ACUR]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
2604 RIVER GREEN CIRCLE
3. Date of Earliest Transaction (MM/DD/YY)
06/09/2021
(Street)
LOUISVILLE, KY40206
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 8,912,655 D
Common Stock 06/09/2021 C 42,984,375 A $ 0.16 42,984,375 I By Abuse Deterrent Pharma, LLC ( 1 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant to Purchase Common Stock $ 0.528 07/24/2017 07/23/2022 Common Stock 1,782,531 1,782,531 D
Warrant to Purchase Common Stock $ 0.01 06/28/2019 06/28/2024 Common Stock 10,000,000 10,000,000 I By Abuse Deterrent Parma, LLC ( 1 )
Convertible Promissory Note $ 0.16 06/09/2021 C 06/28/2019 ( 3 ) Common Stock 42,984,375 $ 0 0 I By Abuse Deterrent Parma, LLC ( 1 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Schutte John
2604 RIVER GREEN CIRCLE
LOUISVILLE, KY40206
X
Signatures
/s/ John Schutte 06/24/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The Reporting Person is the manager and a member of AD Pharma. The Reporting Person hereby disclaims beneficial ownership of the securities, except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
( 2 )On the conversion date, $6,000,000 of principal and $877,500 of interest under the note was converted into the Issuer's common stock. For each $0.16 converted, AD Pharma received one share of common stock.
( 3 )This note is convertible, at the election of AD Pharma, at any time prior to repayment of the note and matures on July 1, 2023.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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