MUSTANG BIO, INC. — Director's Dealing 2021

Mar 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MUSTANG BIO, INC. (MBIO)
CIK: 0001680048
Period of Report: 2021-02-26

Reporting Person: Litchman Manuel MD (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-26	COMMON STOCK	A	5000	$2.83	Acquired	659846	Direct
2021-03-05	COMMON STOCK	P	165562	$3.12	Acquired	825408	Direct

Footnotes

F1: These shares were acquired under the Mustang Bio, Inc. Employee Share Purchase Plan ("ESPP") for the ESPP purchase period beginning on September 1, 2020 and ending on February 28, 2021 in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c). In accordance with the terms of the ESPP, these shares were purchased at a price equal to 85% of the fair market value closing price of the Issuer's ordinary shares on September 1, 2020 (the purchase date of the offering period).

F2: Reflects the weighted average purchase price of multiple same-way open market purchase transactions effected by the Reporting Person on the same day at different prices through a purchase order executed by a broker-dealer. The Reporting Person reported on a single line all such transactions that occurred within a one-dollar price range. The range of prices for the purchase transactions on March 5, 2021, was $3.01 to $3.177. The Reporting Person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the Issuer, or a shareholder of the Issuer, full information regarding the number of shares purchased at each separate price.

F3: Includes restricted share units, which vest over various time periods.