X0306 4 2016-09-29 0 0001574235 Pulmatrix, Inc. PULM 0001325710 Sherman Matthew L C/O PULMATRIX, INC., 99 HAYDEN AVE LEXINGTON MA 02421 1 0 0 0 Stock Option (Right to Buy) 1.55 2016-09-29 4 A 0 8800 0.00 A 2026-09-29 Common Stock 8800 8800 D One-fourth (1/4) of the option vests on September 29, 2017 and the remainder vests in thirty-six (36) equal monthly installments with 2.083% vesting on the last day of each of the next thirty-six (36) months that follow September 29, 2017, provided that the reporting person is providing services to the Issuer on the applicable vesting date and subject to the terms and conditions of the Pulmatrix, Inc. 2013 Employee, Director and Consultant Equity Incentive Plan. /s/ Matthew L. Sherman 2016-10-03