SELLAS Life Sciences Group, Inc. — Director's Dealing 2015

Jan 21, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Galena Biopharma, Inc. (GALE)
CIK: 0001390478
Period of Report: 2015-01-16

Reporting Person: Dunlap Ryan (VP, Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-31	Common Stock	J	3846	$1.28	Acquired	11650	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-01-16	Stock Option (right to buy)	$1.75	A	125000	Acquired	2025-01-16	Common Stock (125000)	Direct

Footnotes

F1: Pursuant to the Issuer's Employee Stock Purchase Plan.

F2: Granted pursuant to the Issuer's Amended and Restated 2007 Incentive Plan.

F3: The option will vest in 16 equal quarterly installments of 7,812 shares over four years beginning on the first quarterly anniversary of the grant date (i.e., January 16, 2015), provided, in each case, that the Reporting Person remains in the continuous employ of the Issuer through such quarterly anniversary date.