Galera (GRTX) Director Alleva Surrenders 291 Shares in Merger

What Happened

• Lawrence M. Alleva, a director of Galera Therapeutics, reported dispositions to the issuer on August 3, 2026 totaling 291 shares: 11 shares, 40 shares, and 240 shares (the 240 reported as a derivative). No per-share prices or cash values are shown on the Form 4 because these dispositions were effected in connection with the company merger rather than open-market sales.
• These transactions were part of the Merger of Galera into a Parent company (effective Aug 3, 2026). Outstanding Galera shares and certain in‑the‑money options were converted into Parent common stock under the merger agreement (exchange ratio 0.7019). Non‑in‑the‑money options were cancelled for no consideration.

Key Details

• Transaction date: August 3, 2026; Form filed Aug 5, 2026 (timely filing).
• Shares reported disposed: 11, 40, and 240 (240 is a derivative/option-related disposition); total = 291 shares (figures adjusted for a 1-for-200 reverse split).
• Price/value: N/A on the Form 4 — consideration was provided in Parent common stock per the merger exchange mechanics, not a cash market sale.
• Footnotes of note: 1-for-200 reverse split adjustment; merger exchange ratio of 0.7019 parent shares per Galera share; in‑the‑money options became vested and were converted/settled per the merger formula; non‑in‑the‑money options were cancelled exempt from Section 16 reporting.
• Shares owned after transaction: not provided in the supplied data.

Context

• These were corporate transaction-driven dispositions tied to the Merger (conversion/settlement), not open-market sales; such transactions are routine in M&A and do not by themselves indicate the insider’s market view.
• For the 240-share derivative entry: in‑the‑money stock options were treated under the merger agreement (converted and net-settled per the formula, with withholding for exercise price/taxes), which commonly results in a non-cash conversion into acquirer shares.