IN8BIO, INC. — Director's Dealing 2025

May 8, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IN8BIO, INC. (INAB)
CIK: 0001740279
Period of Report: 2025-05-02

Reporting Person: Kreis Leslie W. (10% Owner)
Reporting Person: BIOS Fund III, LP (10% Owner)
Reporting Person: BIOS Fund III QP, LP (10% Owner)
Reporting Person: BIOS Fund III NT, LP (10% Owner)
Reporting Person: Bios Equity Partners II, LP (10% Owner)
Reporting Person: BIOS Equity Partners III, LP (10% Owner)
Reporting Person: BP Directors, LP (10% Owner)
Reporting Person: Bios Equity Partners, LP (10% Owner)
Reporting Person: Cavu Management, LP (10% Owner)
Reporting Person: Cavu Advisors, LLC (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-02	Pre-Funded Warrants	$0.0001	P	1148482	Acquired		Common Stock (1148482)	Indirect
2025-05-02	Series A Warrant	$0.45	J	574241	Disposed	2025-10-04	Common Stock (574241)	Indirect
2025-05-02	Series B Warrant	$1.50	J	574241	Disposed	2028-12-13	Common Stock (574241)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	601980	Indirect
Common Stock	3727597	Indirect
Common Stock	570724	Indirect
Common Stock	574432	Indirect
Common Stock	1876624	Indirect
Common Stock	251211	Indirect
Common Stock	997433	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series C Warrant	$0.27	2027-10-04	Common Stock (709040)	709040	Indirect
Stock Option	$1.0685	2029-03-11	Common Stock (12775)	12775	Indirect
Stock Option	$10	2031-07-29	Common Stock (10500)	10500	Indirect
Stock Option	$2.24	2032-06-01	Common Stock (13500)	13500	Indirect
Stock Option	$2.12	2033-06-15	Common Stock (85000)	85000	Indirect

Footnotes

F1: Pursuant to a Warrant Exchange Agreement (the "Warrant Exchange Agreement"), dated as of April 26, 2025, between In8bio, Inc. (the "Issuer") and Bios Clinical Opportunity Fund, LP ("Bios COF"), Bios COF purchased from the Issuer in a private placement 1,148,482 pre-funded warrants (the "Pre-Funded Warrants") to purchase one share of Common Stock in exchange for the surrender by Bios COF for cancellation of (i) 574,241 Series A Warrants to purchase one share of Common Stock, (ii) 574,241 Series B Warrants to purchase one share of Common Stock and (iii) payment to the Issuer of $204,774.34 in cash. The closing of the transactions contemplated by the Warrant Exchange Agreement occurred on May 2, 2025 . The Pre-Funded Warrants have an exercise price of $0.0001 per share, will be exercisable immediately and will be exercisable until the Pre-Funded Warrant is exercised in full.

F2: Bios Equity Partners, LP ("Bios Equity I") is the general partner of BP Directors, LP ("Bios Directors"). Bios Equity Partners II, LP ("Bios Equity II") is the general partner of the following entities: Bios Fund II, LP ("Bios Fund II"), Bios Fund II QP, LP ("Bios Fund II QP"), Bios Fund II NT, LP ("Bios Fund II NT") and BIOS Incysus Co-Invest I, LP ("BIOS Incysus"). Bios Equity Partners III, LP ("Bios Equity III") is the general partner of the following entities: Bios Fund III, LP ("Bios Fund III"), Bios Fund III QP, LP ("Bios Fund III QP") and Bios Fund III NT, LP ("Bios Fund III NT"). Bios Capital Management, LP ("Bios Management") and Cavu Management, LP ("Cavu Management") are the general partners of Bios Equity II and Bios Equity III.

F3: Bios Advisors GP, LLC ("Bios Advisors") is the general partner of Bios Management. Cavu Advisors LLC ("Cavu Advisors") is the general partner of Cavu Management. Bios Management and Bios Advisors are entities managed and controlled by Aaron G.L. Fletcher. Cavu Management and Cavu Advisors are entities managed and controlled by Leslie W. Kreis, Jr. Mr. Fletcher, Bios Management, Bios Advisors, Mr. Kreis, Cavu Management and Cavu Advisors each share voting and investment control with respect to the shares held by Bios Directors, Bios Fund II, Bios Fund II QP, Bios Fund II NT, BIOS Incysus, Bios Fund III, Bios Fund III QP and Bios Fund III NT (collectively, the "Bios Equity Entities").

F4: Because of the relationship between Mr. Fletcher, Bios Management, Bios Advisors, Mr. Kreis, Cavu Management, Cavu Advisors and the Bios Equity Entities, Mr. Fletcher, Bios Management, Bios Advisors, Mr. Kreis, Cavu Management and Cavu Advisors each may be deemed to beneficially own the shares held directly by the Bios Equity Entities.

F5: Bios Equity COF, LP ("Bios Equity COF") is the general partner of Bios COF. Bios Management is the general partner of Bios Equity COF. Bios Advisors is the general partner of Bios Management. Bios Management and are entities managed and controlled by Mr. Fletcher. Mr. Fletcher, Bios Management and Bios Advisors each share voting and investment control with respect to the shares held by Bios COF. Because of the relationship between Mr. Fletcher, Bios Management, Bios Advisors and Bios Equity COF, Mr. Fletcher, Bios Management and Bios Advisors may be deemed to beneficially own the securities held directly by Bios COF.

F6: For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

F7: Consists of options granted in consideration for Travis Whitfill's services as director of the Issuer while affiliated with the reporting persons. Mr. Whitfill has agreed that he will hold any equity based awards granted to Mr. Whitfill in connection with his services as a director of the Issuer while affiliated with the reporting persons merely as a nominee for Bios Directors. Mr. Whitfill is not currently an affiliate of any of the reporting persons.

F8: All of the shares subject to the reported options have fully vested.