Rebecca Byam - Nov 23, 2021 Form 4 Insider Report for HCW Biologics Inc. (HCWB)

Role: Chief Financial Officer
Signature: /s/ Nicole Valdivieso, as Attorney-in-Fact for Rebecca A. Byam
Stock symbol: HCWB
Transactions as of: Nov 23, 2021
Transactions value $: $3,780
Form type: 4
Date filed: 11/26/2021, 11:17 AM
Previous filing: Sep 10, 2021
Next filing: Jun 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Options Exercise	$3.78K	+27K	+43.55%	$0.14^*	89K	Nov 23, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HCWB	Stock Option Grant (Right to Buy)	Options Exercise	$0	-27K	-25%	$0.00	81K	Nov 23, 2021	Common Stock	27K	$0.14	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These option shares were part of a stock option grant covering 135,000 shares of common stock. 20% of the total shares subject to the stock option grant vested on October 10, 2020; 20% of the total shares subject to the stock option grant vested on October 10, 2021; 25% of the total shares subject to the stock option grant will vest on October 10, 2022; and 35% of the total shares subject to the stock option grant will vest on October 10, 2023, subject to her continuous service through the applicable vesting date. The option is subject to additional vesting acceleration pursuant to her Employment Agreement.

Content

These option shares were part of a stock option grant covering 135,000 shares of common stock. 20% of the total shares subject to the stock option grant vested on October 10, 2020; 20% of the total shares subject to the stock option grant vested on October 10, 2021; 25% of the total shares subject to the stock option grant will vest on October 10, 2022; and 35% of the total shares subject to the stock option grant will vest on October 10, 2023, subject to her continuous service through the applicable vesting date. The option is subject to additional vesting acceleration pursuant to her Employment Agreement.