X0306 4 2014-01-29 0 0001390478 Galena Biopharma, Inc. GALE 0001297775 Nisi Rudolph 4640 S.W. MACADAM AVENUE, SUITE 270 PORTLAND OR 97239 1 0 0 0 Common Stock 2014-01-29 4 M 0 50000 2.31 A 53500 D Common Stock 2014-01-29 4 M 0 100000 1.18 A 153500 D Common Stock 2014-01-29 4 M 0 50000 0.72 A 203500 D Common Stock 2014-01-29 4 M 0 50000 1.71 A 253500 D Common Stock 2014-01-29 4 S 0 250000 5.28 D 3500 D Stock Option (right to buy) 2.31 2014-01-29 4 M 0 50000 0 D 2021-01-13 Common Stock 50000 0 D Stock Option (right to buy) 1.18 2014-01-29 4 M 0 100000 0 D 2021-03-24 Common Stock 100000 0 D Stock Option (right to buy) 0.72 2014-01-29 4 M 0 50000 0 D 2022-01-12 Common Stock 50000 0 D Stock Option (right to buy) 1.71 2014-01-29 4 M 0 50000 0 D 2023-01-29 Common Stock 50000 0 D The option vested in equal quarterly installments of 12,500 on each of March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011. The option vested in equal quarterly installments of 25,000 on each of June 25, 2011, September 25, 2011, December 25, 2011 and March 25, 2012. The option vested in equal quarterly installments of 12,500 on each of April 12, 2012, July 12, 2012, October 12, 2012 and January 12, 2013. The option vested in equal quarterly installments of 12,500 on each of April 29, 2013, July 29, 2013, October 29, 2013 and January 29, 2014. /s/ Rudolph Nisi 2014-01-31