Rebecca A. Byam - 19 Oct 2023 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
Issuer symbol: HCWB
Transactions as of: 19 Oct 2023
Net transactions value: +$6,615
Form type: 4
Filing time: 23 Oct 2023, 16:44:10 UTC
Previous filing: 15 Sep 2023
Next filing: 22 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Options Exercise	$6,615	+47,249	+8.2%	$0.1400^*	621,195	19 Oct 2023	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	-47,249	-100%	$0.000000^*	0	19 Oct 2023	Common Stock	47,249	$0.1400	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 vested on October 10, 2022; and 35% of the total shares subject to the stock option grant vested 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 vested on October 10, 2022; and 35% of the total shares subject to the stock option grant vested 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.