Jamil Khurram 4

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.