Jamil Khurram 4
4 · GALECTIN THERAPEUTICS INC · Filed Jun 30, 2026
Research Summary
AI-generated summary of this filing
Galectin (GALT) CMO Jamil Khurram Exercises Options and Sells Shares
What Happened
Jamil Khurram, Chief Medical Officer of Galectin Therapeutics (GALT), exercised a total of 52,037 options and sold the resulting 52,037 shares in late June 2026. Exercises: 2,037 shares @ $2.20 ($4,481), 2,533 shares @ $2.50 ($6,333), and 47,467 shares @ $2.50 ($118,668) — total exercise cost $129,482. Sales: same share quantities sold for $10,185, $12,665 and $239,234 respectively (weighted average sale proceeds ≈ $262,084). The exercises and sales indicate a near-immediate disposition (cashless exercise / sell-to-cover style), not a market purchase.
Key Details
- Transaction dates: June 26, 2026 (small tranches) and June 29, 2026 (larger tranche). Filing date: June 30, 2026.
- Exercise totals: 52,037 shares acquired via option exercises; aggregate exercise cost $129,482.
- Sales totals: 52,037 shares sold for aggregate proceeds ≈ $262,084 (weighted averages used).
- Derivative reporting: The Form 4 also lists derivative dispositions at $0.00 associated with the option-to-share conversions (typical when options are exercised/converted).
- Notable footnotes:
- F1 — Sales were made pursuant to a Rule 10b5-1 trading plan adopted Feb 2, 2026.
- F2 & F5 — Sales occurred in multiple transactions; reported amounts are weighted-average prices (range reported $5.00–$5.13 across tranches). Reporting person will provide per-price detail on request.
- F3 & F4 — The exercised options were subject to prior vesting schedules disclosed in filings (see footnotes for vesting dates/amounts).
- Shares owned after transaction: Not disclosed in the provided excerpt.
- Timeliness: Form 4 filed 6/30/2026 reporting 6/26 and 6/29 transactions; this filing date appears to be within the usual Form 4 reporting window.
Context
- This was not an open-market buy: Khurram exercised vested options and then sold the shares (a cashless-style outcome). Such transactions are common when insiders exercise options and use sales to cover exercise cost, taxes, or take proceeds.
- The presence of a pre-established 10b5-1 plan (F1) indicates the sales were executed according to a pre-set trading program rather than ad hoc market timing.
- These filings are factual disclosures of transactions; they do not by themselves indicate insider sentiment about the company's prospects.
Insider Transaction Report
Form 4
Jamil Khurram
Chief Medical Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-06-26$2.20/sh+2,037$4,481→ 2,037 total - Sale
Common Stock
[F1][F2]2026-06-26$5.00/sh−2,037$10,185→ 0 total - Exercise/Conversion
Common Stock
[F1]2026-06-26$2.50/sh+2,533$6,333→ 2,533 total - Sale
Common Stock
[F1][F2]2026-06-26$5.00/sh−2,533$12,665→ 0 total - Exercise/Conversion
Common Stock
[F1]2026-06-29$2.50/sh+47,467$118,668→ 47,467 total - Sale
Common Stock
[F1][F5]2026-06-29$5.04/sh−47,467$239,234→ 0 total - Exercise/Conversion
Stock option (right to buy)
[F1][F3]2026-06-26−2,037→ 100,000 totalExercise: $2.20From: 2025-03-11Exp: 2034-03-20→ Common Stock (2,037 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F1][F4]2026-06-26−2,533→ 47,467 totalExercise: $2.50From: 2025-04-30Exp: 2034-08-01→ Common Stock (2,533 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F1][F4]2026-06-29−47,467→ 0 totalExercise: $2.50From: 2025-07-31Exp: 2034-08-01→ Common Stock (47,467 underlying)
Footnotes (5)
- [F1]The reported transaction was made pursuant to a Rule 10b5-1 plan adopted by the reporting person on February 2, 2026, as disclosed in the Issuers Quarterly Report on Form 10-Q, filed with the SEC on May 15, 2026
- [F2]The shares were sold in multiple transactions at prices ranging from $5.00 to $5.01. This amount represents the weighted average sale price of such transactions. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- [F3]The options vested at a rate of one-third or 50,000 options on each of March 11, 2025, March 11, 2026 and March 11, 2027.
- [F4]The options vested at a rate of twenty five percent or 25,000 options on each of October 31, 2024, January 31, 2025, April 30, 2025 and July 31, 2025.
- [F5]The shares were sold in multiple transactions at prices ranging from $5.00 to $5.13. This amount represents the weighted average sale price of such transactions. The reporting person undertakes to provide full information regarding the number of shares sold at each separate price upon request by the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
Signature
Jack W. Callicutt, by power of attorney|2026-06-30