Jonathan Violin - 13 Jun 2025 Form 3 Insider Report for GLYCOMIMETICS INC (GLYC)

Footnote F1

Effective as of June 13, 2025 (the "Effective Time"), (i) a wholly-owned subsidiary of GlycoMimetics, Inc. ("GlycoMimetics") merged with and into Crescent Biopharma, Inc. ("Pre-Merger Crescent") with Pre-Merger Crescent continuing as a wholly owned subsidiary of GlycoMimetics and the surviving corporation of the merger (the "First Merger"), (ii) immediately thereafter, Pre-Merger Crescent merged with and into a second wholly-owned subsidiary of GlycoMimetics ("Second Merger Sub"), with Second Merger Sub being the surviving entity of the merger under the name Crescent Biopharma Operating Company, LLC (the "Second Merger" and, together with the First Merger, the "Merger"). At the Effective Time, GlycoMimetics changed its name to "Crescent Biopharma, Inc." (hereinafter, the "Issuer").

Footnote F2

This Form gives effect to the Issuer's completion of a conversion from a corporation organized under the laws of the State of Delaware (the "Delaware Corporation") to an exempted company incorporated under the laws of the Cayman Islands (the "Cayman Company"), effective as of June 16, 2025. In connection therewith, (a) each outstanding share of common stock of the Delaware Corporation was automatically converted into one ordinary share of the Cayman Company; and (b) each outstanding option or right to acquire shares of common stock of the Delaware Corporation continued in existence in the form of and automatically became an option or right to acquire an equal number of ordinary shares of the Cayman Company under the same terms and conditions.

Footnote F3

Represents ordinary shares of the Issuer received by the Reporting Person in the Merger in exchange for the shares of Pre-Merger Crescent's common stock held by the Reporting Person prior to the Merger. Each share of Pre-Merger Crescent's restricted common stock held at the Effective Time was exchanged for 0.1445 restricted ordinary shares of the Issuer. Of these ordinary shares, 20,164 are restricted and will vest as to 25% on September 28, 2025 and in equal monthly installments thereafter through September 28, 2028, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

Footnote F4

Represents options to purchase the Issuer's ordinary shares received by the Reporting Person in the Merger in exchange for options of Pre-Merger Crescent held by the Reporting Person prior to the Merger. These options are fully vested.