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: Schambye Hans T. (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-02	Common Stock	C	13931	—	Acquired	39928	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-24	Stock Option (right to buy)	$1.95	A	207976	Acquired	2030-06-24	Common Stock (207976)	Direct
2020-10-07	Stock Option (right to buy)	$7.70	A	519940	Acquired	2030-10-06	Common Stock (519940)	Direct
2020-11-02	Series C-1 Preferred Stock	$	C	5359	Disposed		Common Stock (13931)	Direct

Footnotes

F1: The Series C-1 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 Series C-1 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 Series C-1 Preferred Stock had no expiration date.

F2: On October 20, 2020, the Issuer completed a 2.59970-for-1 stock split of the Issuer's Common Stock ("Stock Split"). This amount has been adjusted to give effect to the Stock Split.

F3: 25% of the shares subject to such option vested and became exercisable on October 22, 2019 and the remainder of the shares vest in substantially equal monthly installments for a period of 36 months thereafter, subject to the Reporting Person's continuous service to the Issuer on each such date.

F4: 25% of the shares subject to such option vest and become exercisable on September 27, 2021 and the remainder of the shares vest in substantially equal monthly installments for a period of 36 months thereafter, subject to the Reporting Person's continuous service to the Issuer on each such 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.