SELLAS Life Sciences Group, Inc. — Director's Dealing 2016

Jun 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Galena Biopharma, Inc. (GALE)
CIK: 0001390478
Period of Report: 2016-06-01

Reporting Person: Dunlap Ryan (Former Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-06-01	Common Stock	M	31250	$1.75	Acquired	49952	Direct
2016-06-01	Common Stock	M	65625	$1.85	Acquired	115577	Direct
2016-06-01	Common Stock	M	30000	$1.71	Acquired	145577	Direct
2016-06-01	Common Stock	S	126875	$2.18	Disposed	18702	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-06-01	Stock Option	$1.75	M	31250	Disposed		Common Stock (31250)	Direct
2016-06-01	Stock Option	$1.85	M	65625	Disposed		Common Stock (65625)	Direct
2016-06-01	Stock Option	$1.71	M	30000	Disposed		Common Stock (30000)	Direct

Footnotes

F1: The Price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $2.16 to $2.22 per share. The reporting person undertakes the provide to the Issuer, any securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. The trades settled on June 6, 2016.

F2: The option vests on a quarterly basis over four years, commencing on the last day of the quarter after the date of grant (1/15/15).

F3: This stock option was subject to cancellation on June 29, 2016, which was 90 days after the Reporting person's consulting agreement ended with the Issuer.

F4: The option vests on a quarterly basis over four years, commencing on the last day of the quarter after the date of grant (7/9/12).

F5: The option vests on a quarterly basis over four years, commencing on the last day of the quarter after the date of grant (1/29/13).