MUSTANG BIO, INC. — Director's Dealing 2017

Jun 7, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MUSTANG BIO, INC. (NONE)
CIK: 0001680048
Period of Report: 2016-09-30

Reporting Person: Fortress Biotech, Inc. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-30	Common Stock, $0.0001 par value	A	47870	$0.00	Acquired	9047870	Direct
2016-10-25	Common Stock, $0.0001 par value	A	27264	$0.00	Acquired	9075134	Direct
2016-11-30	Common Stock, $0.0001 par value	A	47505	$0.00	Acquired	9122639	Direct
2016-12-12	Common Stock, $0.0001 par value	A	11925	$0.00	Acquired	9134564	Direct
2016-12-29	Common Stock, $0.0001 par value	A	15806	$0.00	Acquired	9150370	Direct
2017-01-31	Common Stock, $0.0001 par value	A	213419	$0.00	Acquired	9363789	Direct
2017-03-13	Common Stock, $0.0001 par value	A	767264	$0.00	Acquired	10131053	Direct
2017-03-31	Common Stock, $0.0001 par value	A	1600	$0.00	Acquired	10132653	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A Preferred Stock, $0.0001 par value	$		Common Stock (250000)	250000	Direct

Footnotes

F1: The Issuer is required to grant to the Reporting Person an equity fee in shares of the Issuer's Common Stock equal to 2.5% of the gross amount of any debt or equity financing consummated by the Issuer. These shares were granted by the Issuer to the Reporting Person following the closing of an equity financing.

F2: The Reporting Person is entitled to an annual dividend on its outstanding Class A Preferred Stock equal to 2.5% of the Issuer's fully diluted outstanding capitalization on March 13. These shares were granted by the Issuer to the Reporting Person for the 2017 annual dividend.

F3: Each share of the Issuer's Class A Preferred Stock is convertible at any time at the option of the Reporting Person into one share of the Issuer's Common Stock and has no expiration date.