X0306 4 2017-06-01 0001013238 ARADIGM CORP ARDM 0001438462 Hudson Frederick M. C/O ARADIGM CORP 3929 POINT EDEN WAY HAYWARD CA 94545 1 0 0 0 Stock Option (Right to Buy) 1.39 2017-06-01 4 A 0 110485 0 A 2027-06-01 Common Stock 110485 110485 D The shares underlying the option shall vest and become exercisable in four equal quarterly installments over one year beginning on June 1, 2017, subject to such individual continuing to be a Participant (as defined in the 2015 Equity Incentive Plan) on the relevant vesting dates. Fred Hudson, By: /s/ Nancy Pecota, Attorney-in-Fact 2017-06-05