Byam Rebecca 4

What Happened

• Rebecca Byam, Chief Financial Officer of HCW Biologics (HCWB), reported purchases on 2026-05-22. The filing shows a cash purchase of 14,235 shares at $1.41 each (total ~$20,000). The Form 4 also lists a second entry of 14,235 shares at $0.00 under the same purchase code (a derivative-style entry).

Key Details

• Transaction date: 2026-05-22.
• Cash purchase: 14,235 shares at $1.41 per share = $20,000 total.
• Additional entry: 14,235 shares at $0.00 (reported as a derivative/related purchase).
• Footnote: The reporting person purchased these shares directly from the issuer in a private placement, exempt from Section 16(b) under Rule 16b-3(d).
• Shares owned after transaction: not specified in the provided filing details.
• Filing date: 2026-05-27 for a 2026-05-22 transaction — Form 4s are normally due within 2 business days, so this appears to have been filed after that window.

Context

• The primary transaction code is P = Purchase, which is a direct buy (often seen as a more informative signal than routine sales). The $0.00 entry represents a derivative or related issuance; the footnote clarifies the shares were acquired in a private placement directly from the issuer and are exempt under Rule 16b-3(d). No evidence in the provided data indicates an immediate sale, tax-withholding, or 10b5-1 plan.