Galecto, Inc. — Director's Dealing 2020

Nov 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Galecto, Inc. (GLTO)
CIK: 0001800315
Period of Report: 2020-11-02

Reporting Person: GOLDFISCHER CARL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-02	Common Stock	C	9587	—	Acquired	9587	Direct
2020-11-02	Common Stock	C	1020036	—	Acquired	1020036	Indirect
2020-11-02	Common Stock	C	19432	—	Acquired	19432	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-09-25	Series D Preferred Stock	$	A	3688	Acquired		Common Stock (9587)	Direct
2020-11-02	Series C-3 Preferred Stock	$	C	392367	Disposed		Common Stock (1020036)	Indirect
2020-11-02	Series C-3 Preferred Stock	$	C	7475	Disposed		Common Stock (19432)	Indirect
2020-11-02	Series D Preferred Stock	$	C	3688	Disposed		Common Stock (9587)	Direct

Footnotes

F1: These shares are held by Bay City Capital Fund V, L.P. ("Fund V").

F2: These shares are held by Bay City Capital Fund V Co-Investment Fund, L.P. ("Co-Investment V").

F3: The Reporting Person is an Investment Partner and Managing Director of Bay City Capital LLC, the manager of Bay City Capital Management V LLC ("Management V"). Management V is the general partner of Fund V and Co-Investment V. The Reporting Person may be deemed to share voting, investment and dispositive power with respect to the shares held by Fund V and Co-Investment V. Dr. Goldfischer disclaims beneficial ownership of such securities, except to the extent of his indirect pecuniary interest therein.

F4: The Series C-3 Preferred Stock and Series D Preferred Stock (collectively, the "Preferred Stock") was convertible at any time at the holder's election and automatically upon the closing of the Issuer's initial public offering. The Preferred Stock converted into Common Stock at a ratio of 2.59970:1 upon the closing of the Issuer's initial public offering without payment of additional consideration. The Preferred Stock had no expiration date.

F5: This transaction occurred prior to the Issuer's initial public offering and is being reported on Form 4 solely for purposes of compliance with Rule 16a-2(a) under the Securities Exchange Act of 1934, as amended. The securities covered by such transaction were previously included on the Reporting Person's Form 3.