X0306 4 2015-06-25 0 0001390478 Galena Biopharma, Inc. GALE 0001311726 Knapp Thomas J 4640 SW MACADAM AVE., SUITE 270 PORTLAND OR 97239 0 1 0 0 General Counsel Stock Option (right to buy) 1.83 2015-06-25 4 A 0 40000 0 A 2025-06-25 Common Stock 40000 40000 D Granted pursuant to the Issuer's Amended and Restated 2007 Incentive Plan. The stock option vests in six approximately equal monthly installments as of the end of each month commencing July 31, 2015 and ending December 31, 2015, subject to the Reporting Person remaining in the Issuer's continuous employ through each monthly vesting date. /s/ Thomas J. Knapp 2015-07-16