GALECTIN THERAPEUTICS INC — Director's Dealing 2011

Jul 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALECTIN THERAPEUTICS INC (GALT)
CIK: 0001133416
Period of Report: 2011-03-31

Reporting Person: 10X Fund, L.P. (10% Owner)
Reporting Person: 10X Capital Management, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-31	Common Stock	J	380475	$1.04	Acquired	2482223	Indirect
2011-06-30	Common Stock	J	380475	$1.22	Acquired	2862698	Indirect
2011-06-30	Common Stock	X	3590000	$1.22	Acquired	6452698	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-06-30	Class A-1 Warrant	$0.05	X	1800000	Disposed	2014-02-12	Common Stock (1800000)	Indirect
2011-06-30	Class A-1 Warrant	$0.05	X	900000	Disposed	2014-05-13	Common Stock (900000)	Indirect
2011-06-30	Class A-1 Warrant	$0.05	X	500000	Disposed	2014-06-30	Common Stock (500000)	Indirect
2011-06-30	Class A-1 Warrant	$0.05	X	300000	Disposed	2014-08-12	Common Stock (300000)	Indirect
2011-06-30	Class A-1 Warrant	$0.05	X	90000	Disposed	2014-09-30	Common Stock (90000)	Indirect

Footnotes

F1: Received as a divdend on Series B Convertible Preferred Stock owned by 10X Fund, LP

F2: 10X Fund, L.P. has direct beneficial ownership of all the securities owned by 10X Fund, L.P. 10X Capital Management, LLC, a Florida limited liability company, is the general partner of 10X Fund, L.P., a Delaware limited partnership, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by 10X Fund, L.P., such portion being equal to 10X Capital Management, LLC's (a) 20% interest in the profits of 10X Fund, L.P., (b) interest in any securities which are used to pay a 2% annual management fee to 10X Capital Management, LLC, and (c) interest in one-half of the Class B Warrants acquired by 10X Fund, L.P. in all closings other than the initial closing held on February 12, 2009, less one Class B Warrant which 10X Capital Management, LLC has committed to reallocate to investors in all prior closings until each such investor has one (1) additional Class B Warrant for each dollar invested.

F3: 10X Capital Management, LLC disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

F4: On June 30, 2011, 10X Fund, LP exercised 3,590,000 Class A-1 Warrants, and as a result acquired 3,590,000 shares of common stock of the Issuer. The warrants were exercisable at $0.05 per share. The aggregate exercise price was $1,795,000.