Bruno Julianne 4

What Happened Director Bruno Julianne converted 129 shares of the company's Series C Non‑Voting Convertible Preferred Stock into 129,000 shares of Galecto common stock on February 9, 2026. The conversion was automatic under the preferred's terms at a 1,000:1 ratio; the reported price per share was $0.00, so no cash changed hands. This was a conversion event (derivative exercise), not an open‑market purchase or sale.

Key Details

• Transaction date: February 9, 2026; reported on Form 4 filed February 12, 2026.
• Securities received: 129,000 shares of common stock; consideration reported $0.00.
• Securities surrendered/disposed: 129 shares of Series C preferred (converted).
• Shares owned after transaction: the filing reports the 129,000 common shares were issued on conversion; total common holdings after the conversion are not specified in the filing.
• Notable footnotes:
  • The conversion followed stockholder approval allowing Series C conversion; each Series C share converts into 1,000 common shares (F1, F3).
  • The new common shares are subject to a 60‑day lock‑up entered into with the offering underwriters, effective following the final prospectus supplement dated Feb 10, 2026 (F1, F2).
  • The Series C preferred has no expiration date (F3).
• Filing timeliness: the Form 4 was filed three days after the Feb 9 transaction (filed Feb 12). Form 4s are generally due within two business days; this appears to be filed after that window.

Context This was a mandatory conversion of preferred stock into common stock following shareholder approval, not a market buy or sale. Conversions like this are typically routine corporate actions tied to financing/charter terms and do not by themselves signal insider buying or selling intent. The 60‑day lock‑up limits immediate resale of the newly issued common shares.