Form 4: Galectin Therapeutics CEO Joel Lewis Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Joel Lewis, President and CEO of Galectin Therapeutics, reports the acquisition and disposal of common stock related to deferred stock units (DSUs) and tax withholdings.
Summary
- On March 3, 2025, Joel Lewis, the President and CEO of Galectin Therapeutics, reported changes in his beneficial ownership of the company's common stock.
- These changes involve the acquisition of 56,420 shares through the settlement of deferred stock units (DSUs) at a price of $1.57 per share.
- Simultaneously, shares were withheld for federal and state income tax obligations.
- Following these transactions, Mr. Lewis directly owns 832,592 shares of common stock, including shares underlying DSUs.
- He also indirectly owns 2,000 shares as a custodian for a minor child.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation.
Future Outlook
Fifty percent of the DSUs from the amended agreement shall be settled in shares of Common Stock on January 5, 2026.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Related Party Transactions
- The transactions are related to an employment agreement and Deferred Stock Unit Agreement between Mr. Lewis and Galectin Therapeutics Inc.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| August 31, 2020 | Date of original employment agreement and Deferred Stock Unit Agreement between Mr. Lewis and Galectin Therapeutics Inc. |
| July 25, 2022 | Date of amendment to the Deferred Stock Unit Agreement. |
| March 1, 2025 | Date when fifty percent of the DSUs from the amended agreement shall be settled in shares of Common Stock. |
| March 3, 2025 | Date of the reported transaction involving the acquisition and disposal of shares. |
| March 5, 2025 | Date of signature on the Form 4 filing. |
| January 5, 2026 | Date when the remaining fifty percent of the DSUs from the amended agreement shall be settled in shares of Common Stock. |
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