Galectin (GALT) CMO Jamil Khurram Exercises Options, Sells Shares

What Happened Jamil Khurram, Chief Medical Officer of Galectin Therapeutics (GALT), exercised 16,250 stock options at $3.04 each (total exercise cost $49,400) and sold 16,250 common shares the same day for weighted proceeds of $83,285 (weighted avg sale $5.13). The transactions occurred on July 14, 2026; the Form 4 was filed July 16, 2026 (timely).

Key Details

• Transaction date: July 14, 2026. Form 4 filed July 16, 2026 (within the standard 2‑business‑day window).
• Exercise: 16,250 options exercised at $3.04 per share — total cost $49,400.
• Sale: 16,250 shares sold in multiple trades at $5.00–$5.32 (weighted avg $5.13) — total proceeds $83,285.
• Net proceeds before taxes/fees (proceeds minus exercise cost): approximately $33,885.
• Footnote F1: Sales were made under a Rule 10b5‑1 trading plan adopted Feb 2, 2026.
• Footnote F2: Sale prices ranged $5.00–$5.32; weighted average $5.13; full per‑trade details available on request.
• Footnote F3: These options were part of a vesting schedule (25% vested = 16,250 options on June 30, 2026, with additional tranches later).
• Shares owned after the transaction: not disclosed in the provided filing.

Context The filing shows an exercise of vested options followed by an immediate sale of the same number of shares — commonly a cashless/stop‑loss style disposition where exercised shares are sold shortly after conversion. A separate derivative line reported a disposition at $0, consistent with conversion/settlement of option instruments (see F3). The sale being executed under a pre‑existing 10b5‑1 plan indicates these trades were pre‑scheduled rather than ad‑hoc.