SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
CZIRR JAMES C

(Last) (First) (Middle)
C/O GALECTIN THERAPUETICS, INC.
4960 PEACHTREE INDUSTRIAL BLVD. STE. 240

(Street)
NORCROSS GA 30071

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GALECTIN THERAPEUTICS INC [ GALT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Chairman
3. Date of Earliest Transaction (Month/Day/Year)
01/27/2014
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/27/2014 M 33,333 A $3 2,309,519(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 50,000 A $3 2,359,519(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 54,166 A $3 2,413,685(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 51,666 A $3 2,465,351(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 54,167 A $3 2,519,518(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 54,167 A $3 2,573,685(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 55,834 A $3 2,629,519(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 51,667 A $3 2,681,186(1)(2) I By 10X Fund, L.P.
Common Stock 01/27/2014 M 95,000 A $3 2,776,186(1)(2) I By 10X Fund, L.P.
Common Stock 179,232 I By Trust
Common Stock 844,450 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 33,333 06/30/2009 06/30/2019 Common Stock 33,333 $0(3) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 50,000 08/12/2009 08/12/2019 Common Stock 50,000 $0(4) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 54,166 09/30/2009 09/30/2019 Common Stock 54,166 $0(5) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 51,666 11/03/2009 11/03/2019 Common Stock 51,666 $0(6) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 54,167 12/08/2009 12/08/2019 Common Stock 54,167 $0(7) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 54,167 01/29/2010 01/29/2020 Common Stock 54,167 $0(8) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 55,834 03/08/2010 03/08/2020 Common Stock 55,834 $0(9) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 51,667 04/30/2010 04/30/2020 Common Stock 51,667 $0(10) 0 I By 10X Fund, L.P.
Class A-2 Warrant (Right to Buy) $3 01/27/2014 M 95,000 05/10/2010 05/10/2020 Common Stock 95,000 $0(11) 0 I By 10X Fund, L.P.
Explanation of Responses:
1. Amount reflects the Issuer's March 23, 2012 one-for-six reverse stock split. This filing amends all previous filings since the reverse stock split to reflect post-split beneficial holdings.
2. Reporting person is a managing member of 10X Capital Management, LLC, a Florida limited liability company acting as the general partner of 10X Fund, L.P., a Delaware limited partnership, and as such, may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by 10X Fund, L.P. Mr. Czirr disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
3. On June 30, 2009, 10X Fund, L.P. purchased (a) 250,000 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 83,333 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 83,333 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 333,333 shares of Common Stock for $3.00 per share, for aggregate consideration of $500,000.
4. On August 12, 2009, 10X Fund, L.P. purchased (a) 150,000 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 50,000 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 50,000 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 200,000 shares of Common Stock for $3.00 per share, for aggregate consideration of $300,000.
5. On September 30, 2009, 10X Fund, L.P. purchased (a) 162,500 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 54,166 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 54,166 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 216,666 shares of Common Stock for $3.00 per share, for aggregate consideration of $325,000.
6. On November 3, 2009, 10X Fund, L.P. purchased (a) 155,000 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 51,666 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 51,666 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 206,667 shares of Common Stock for $3.00 per share, for aggregate consideration of $310,000.
7. On December 8, 2009, 10X Fund, L.P. purchased (a) 162,500 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 54,167 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 54,167 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 216,667 shares of Common Stock for $3.00 per share, for aggregate consideration of $325,000.
8. On January 29, 2010, 10X Fund, L.P. purchased (a) 162,500 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 54,167 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 54,167 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 216,667 shares of Common Stock for $3.00 per share, for aggregate consideration of $325,000.
9. On March 8, 2010, 10X Fund, L.P. purchased (a) 167,500 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 55,834 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 55,834 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 223,333 shares of Common Stock for $3.00 per share, for aggregate consideration of $335,000.
10. On April 30, 2010, 10X Fund, L.P. purchased (a) 155,000 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 51,667 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 51,667 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 206,667 shares of Common Stock for $3.00 per share, for aggregate consideration of $310,000.
11. On May 10, 2010, 10X Fund, L.P. purchased (a) 285,000 shares of Series B-2 Preferred Stock, (b) one Class A-1 Warrant to purchase 95,000 shares of Common Stock for $3.00 per share, (c) one Class A-2 Warrant to purchase 95,000 shares of Common Stock for $3.00 per share, and (d) one Class B Warrant to purchase 380,000 shares of Common Stock for $3.00 per share, for aggregate consideration of $570,000.
Remarks:
/s/ James C. Czirr 01/28/2014
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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