SELLAS Life Sciences Group, Inc. — Director's Dealing 2014

Feb 1, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Galena Biopharma, Inc. (GALE)
CIK: 0001390478
Period of Report: 2014-01-29

Reporting Person: Nisi Rudolph (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-29	Common Stock	M	50000	$2.31	Acquired	53500	Direct
2014-01-29	Common Stock	M	100000	$1.18	Acquired	153500	Direct
2014-01-29	Common Stock	M	50000	$0.72	Acquired	203500	Direct
2014-01-29	Common Stock	M	50000	$1.71	Acquired	253500	Direct
2014-01-29	Common Stock	S	250000	$5.28	Disposed	3500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-29	Stock Option (right to buy)	$2.31	M	50000	Disposed	2021-01-13	Common Stock (50000)	Direct
2014-01-29	Stock Option (right to buy)	$1.18	M	100000	Disposed	2021-03-24	Common Stock (100000)	Direct
2014-01-29	Stock Option (right to buy)	$0.72	M	50000	Disposed	2022-01-12	Common Stock (50000)	Direct
2014-01-29	Stock Option (right to buy)	$1.71	M	50000	Disposed	2023-01-29	Common Stock (50000)	Direct

Footnotes

F1: The option vested in equal quarterly installments of 12,500 on each of March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011.

F2: The option vested in equal quarterly installments of 25,000 on each of June 25, 2011, September 25, 2011, December 25, 2011 and March 25, 2012.

F3: The option vested in equal quarterly installments of 12,500 on each of April 12, 2012, July 12, 2012, October 12, 2012 and January 12, 2013.

F4: The option vested in equal quarterly installments of 12,500 on each of April 29, 2013, July 29, 2013, October 29, 2013 and January 29, 2014.