Schambye Hans T. 4
4 · Galecto, Inc. · Filed Nov 4, 2020
Insider Transaction Report
Form 4
Galecto, Inc.GLTO
Schambye Hans T.
DirectorChief Executive Officer
Transactions
- Award
Stock Option (right to buy)
2020-06-24+207,976→ 207,976 totalExercise: $1.95Exp: 2030-06-24→ Common Stock (207,976 underlying) - Award
Stock Option (right to buy)
2020-10-07+519,940→ 519,940 totalExercise: $7.70Exp: 2030-10-06→ Common Stock (519,940 underlying) - Conversion
Common Stock
2020-11-02+13,931→ 39,928 total - Conversion
Series C-1 Preferred Stock
2020-11-02−5,359→ 0 total→ Common Stock (13,931 underlying)
Footnotes (5)
- [F1]The Series C-1 Preferred Stock was convertible at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The Series C-1 Preferred Stock converted into Common Stock at a ratio of 2.59970:1 upon the closing of the Issuer's initial public offering without payment of additional consideration. The Series C-1 Preferred Stock had no expiration date.
- [F2]On October 20, 2020, the Issuer completed a 2.59970-for-1 stock split of the Issuer's Common Stock ("Stock Split"). This amount has been adjusted to give effect to the Stock Split.
- [F3]25% of the shares subject to such option vested and became exercisable on October 22, 2019 and the remainder of the shares vest in substantially equal monthly installments for a period of 36 months thereafter, subject to the Reporting Person's continuous service to the Issuer on each such date.
- [F4]25% of the shares subject to such option vest and become exercisable on September 27, 2021 and the remainder of the shares vest in substantially equal monthly installments for a period of 36 months thereafter, subject to the Reporting Person's continuous service to the Issuer on each such date.
- [F5]This transaction occurred prior to the Issuer's initial public offering and is being reported on Form 4 solely for purposes of compliance with Rule 16a-2(a) under the Securities Exchange Act of 1934, as amended. The securities covered by such transaction were previously included on the Reporting Person's Form 3.