Michael T. Cullen - May 25, 2021 Form 4 Insider Report for Panbela Therapeutics, Inc. (PBLA)

Role: Director, 10%+ Owner
Signature: /s/ Joshua L. Colburn, Attorney-in-Fact
Stock symbol: PBLA
Transactions as of: May 25, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/27/2021, 08:48 PM
Previous filing: May 27, 2021
Next filing: Oct 6, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PBLA	Common Stock	Award	$0	+4.32K	+2.03%	$0.00	217K	May 25, 2021	Direct	F1
holding	PBLA	Common Stock						205K	May 25, 2021	By Cullen Living Trust Dated April 23, 2009

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	PBLA	Stock Option (right to buy)	Award	$0	+12.4K		$0.00	12.4K	May 25, 2021	Common Stock	12.4K	$4.17	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Includes 4,500 shares previously reported as disposed of through gift transactions that were not completed.
F2	Scheduled to vest and become exercisable in four equal increments on August 25, 2021, November 24, 2021, February 25, 2022 and the earlier of May 31, 2022 and the day before the company's annual meeting of stockholders to be held in 2022.