MUSTANG BIO, INC. — Director's Dealing 2021

Apr 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MUSTANG BIO, INC. (MBIO)
CIK: 0001680048
Period of Report: 2019-12-06

Reporting Person: Achenbach Brian (SVP, Fin. & Corp. Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-06	COMMON STOCK	S	6144	$3.69	Disposed	145630	Direct
2020-03-31	COMMON STOCK	S	3033	$2.64	Disposed	142597	Direct
2020-05-22	COMMON STOCK	S	880	$3.04	Disposed	141717	Direct
2020-10-21	COMMON STOCK	S	3056	$2.97	Disposed	138661	Direct
2020-12-08	COMMON STOCK	S	5185	$3.03	Disposed	133476	Direct
2021-04-09	COMMON STOCK	S	2423	$3.36	Disposed	131053	Direct

Footnotes

F1: 6,144 shares were sold in connection with the vesting of 13,750 shares on December 4, 2019, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F2: 3,033 shares were sold in connection with the vesting of 8,750 shares on March 27, 2020, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F3: 880 shares were sold in connection with the vesting of 3,438 shares on March 26, 2020, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F4: 3,056 shares were sold in connection with the vesting of 9,063 shares on October 10, 2020, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F5: 5,185 shares were sold in connection with the vesting of 13,750 shares on December 4, 2020, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F6: 2,423 shares were sold in connection with the vesting of 8,750 shares on March 27, 2021, these shares were sold by the Company's restricted stock administrator in order to satisfy Mr. Achenbach's tax withholding obligations. Mr. Achenbach had no discretion with respect to such sale, which was transacted automatically in accordance with the Company's corporate policies regarding the vesting of restricted stock.

F7: Represents the weighted average sales price.

F8: Includes restricted share units, which vest over various time periods.