Joel Lewis - Jun 15, 2021 Form 4 Insider Report for GALECTIN THERAPEUTICS INC (GALT)

Role
President and CEO, Director
Signature
/s/ Jack W. Callicutt, by power of attorney
Stock symbol
GALT
Transactions as of
Jun 15, 2021
Transactions value $
$16,667
Form type
4
Date filed
6/16/2021, 08:00 AM
Previous filing
Jun 1, 2021
Next filing
Jul 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GALT Common Stock Award $16.7K +4.76K +2.15% $3.50 226K Jun 15, 2021 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Mr. Lewis and Galectin Therapeutics Inc. entered into an employment agreement, dated August 31, 2020, and a Deferred Stock Unit Agreement, dated August 31, 2020. Pursuant to these agreements, 80% of Mr. Lewis' compensation will be paid in the form of deferred stock units ("DSUs") in accordance with the terms and subject to the provisions set forth in the Deferred Stock Unit Agreement. The shares of Common Stock being reported herein underly DSUs issued to Mr. Lewis pursuant to the agreements, at a price per share equal to the closing price of the Common Stock on date of the transaction. The DSUs shall be settled in shares of Common Stock as follows: (i) twenty five percent shall be settled on March 1, 2023, (ii) twenty five percent shall be settled on September 1, 2023 and (iii) fifty percent shall be settled on March 1, 2024.
F2 Represents shares underlying DSUs and Common Stock.