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: Khuong Chau Quang (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-02	Common Shares	C	2055824	—	Acquired	2055824	Indirect
2020-11-02	Common Shares	C	822311	—	Acquired	822311	Indirect
2020-11-02	Common Shares	C	191787	—	Acquired	191787	Indirect
2020-11-02	Common Shares	P	523833	$15.00	Acquired	2579657	Indirect
2020-11-02	Common Shares	P	209500	$15.00	Acquired	1031811	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-09-25	Series D Preferred Stock	$	A	148395	Disposed		Common Shares (385782)	Indirect
2020-09-25	Series D Preferred Stock	$	A	59350	Disposed		Common Shares (154292)	Indirect
2020-09-25	Series D Preferred Stock	$	A	73773	Disposed		Common Shares (191787)	Indirect
2020-11-02	Series C-2 Preferred Stock	$	C	291999	Disposed		Common Shares (759110)	Indirect
2020-11-02	Series C-2 Preferred Stock	$	C	116800	Disposed		Common Shares (303645)	Indirect
2020-11-02	Series C-4 Preferred Stock	$	C	272533	Disposed		Common Shares (708504)	Indirect
2020-11-02	Series C-4 Preferred Stock	$	C	109013	Disposed		Common Shares (283402)	Indirect
2020-11-02	Series C-5 Preferred Stock	$	C	77866	Disposed		Common Shares (202428)	Indirect
2020-11-02	Series C-5 Preferred Stock	$	C	31147	Disposed		Common Shares (80972)	Indirect
2020-11-02	Series D Preferred Stock	$	C	148395	Disposed		Common Shares (385782)	Indirect
2020-11-02	Series D Preferred Stock	$	C	59350	Disposed		Common Shares (154292)	Indirect
2020-11-02	Series D Preferred Stock	$	C	73773	Disposed		Common Shares (191787)	Indirect

Footnotes

F1: The Series C-2 Preferred Stock, Series C-4 Preferred Stock, Series C-5 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.

F2: These securities are held of record by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("GP VII") is the general partner of OPI VII and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VII. By virtue of such relationships, GP VII and OrbiMed Advisors may be deemed to have voting and investment power over the securities held by OPI VII and as a result may be deemed to have beneficial ownership over such securities. The Reporting Person is an employee of OrbiMed Advisors. OrbiMed Advisors exercises its investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the securities held by OPI VII.

F3: These securities are held of record by OrbiMed Israel Partners II, L.P. ("OIP II"). OrbiMed Israel is the general partner of OIP II, and OrbiMed Limited is the managing member of OrbiMed Israel. By virtue of such relationships, OrbiMed Israel and OrbiMed Limited may be deemed to have voting and investment power over the securities held by OIP II and as a result may be deemed to have beneficial ownership over such securities. OrbiMed Limited exercises its investment and voting power through a management committee comprised of Carl L. Gordon, Jonathan Silverstein, Nissim Darvish, Anat Naschitz, and Erez Chimovits, each of whom disclaims beneficial ownership of the securities held by OIP II.

F4: These securities are held of record by OrbiMed Genesis Master Fund, L.P. ("Genesis Master Fund"). OrbiMed Genesis GP LLC ("Genesis GP") is the general partner of Genesis Master Fund and OrbiMed Advisors is the managing member of Genesis GP. By virtue of such relationships, Genesis GP and OrbiMed Advisors may be deemed to have voting and investment power over the securities held by Genesis Master Fund and as a result may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises its investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the securities held by Genesis Master Fund.

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.