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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SAXE JON S
2. Issuer Name and Ticker or Trading Symbol

DURECT CORP [ DRRX ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

10260 BUBB ROAD
3. Date of Earliest Transaction (MM/DD/YYYY)

5/13/2019
(Street)

CUPERTINO, CA 95014
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   5/13/2019     P    200   A $0.6804   45200   I   by Trust   (1)
Common Stock   5/13/2019     P    380   A $0.6802   45580   I   by Trust   (1)
Common Stock   5/13/2019     P    2995   A $0.6803   48575   I   by Trust   (1)
Common Stock   5/13/2019     P    287   A $0.6814   48862   I   by Trust   (1)
Common Stock   5/13/2019     P    900   A $0.6815   49762   I   by Trust   (1)
Common Stock   5/13/2019     P    699   A $0.685   50461   I   by Trust   (1)
Common Stock   5/13/2019     P    200   A $0.6881   50661   I   by Trust   (1)
Common Stock   5/13/2019     P    3100   A $0.6898   53761   I   by Trust   (1)
Common Stock   5/13/2019     P    1195   A $0.69   54956   I   by Trust   (1)
Common Stock   5/13/2019     P    489   A $0.6902   55445   I   by Trust   (1)
Common Stock   5/13/2019     P    569   A $0.6906   56014   I   by Trust   (1)
Common Stock   5/13/2019     P    779   A $0.6911   56793   I   by Trust   (1)
Common Stock   5/13/2019     P    895   A $0.694   57688   I   by Trust   (1)
Common Stock   5/13/2019     P    400   A $0.6941   58088   I   by Trust   (1)
Common Stock   5/13/2019     P    1000   A $0.6944   59088   I   by Trust   (1)
Common Stock   5/13/2019     P    1232   A $0.6952   60320   I   by Trust   (1)
Common Stock   5/13/2019     P    4900   A $0.6953   65220   I   by Trust   (1)
Common Stock   5/13/2019     P    300   A $0.6972   65520   I   by Trust   (1)
Common Stock   5/13/2019     P    595   A $0.6984   66115   I   by Trust   (1)
Common Stock   5/13/2019     P    1391   A $0.7003   67506   I   by Trust   (1)
Common Stock   5/13/2019     P    1584   A $0.7004   69090   I   by Trust   (1)
Common Stock   5/13/2019     P    864   A $0.7005   69954   I   by Trust   (1)
Common Stock   5/13/2019     P    400   A $0.7007   70354   I   by Trust   (1)
Common Stock   5/13/2019     P    4826   A $0.7008   75180   I   by Trust   (1)
Common Stock   5/13/2019     P    1600   A $0.7009   76780   I   by Trust   (1)
Common Stock   5/13/2019     P    1798   A $0.701   78578   I   by Trust   (1)
Common Stock   5/13/2019     P    3900   A $0.7019   82478   I   by Trust   (1)
Common Stock   5/13/2019     P    37   A $0.702   82515   I   by Trust   (1)
Common Stock   5/13/2019     P    2085   A $0.7027   84600   I   by Trust   (1)
Common Stock   5/13/2019     P    800   A $0.7035   85400   I   by Trust   (1)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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

Explanation of Responses:
(1)  Held by the Jon S. Saxe and Myrna G. Marshall 1997 Trust.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SAXE JON S
10260 BUBB ROAD
CUPERTINO, CA 95014
X



Signatures
Jon S. Saxe 5/14/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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