X0306 4 2017-01-17 0 0001390478 Galena Biopharma, Inc. GALE 0001657705 Nejadnik Bijan C/O GALENA BIOPHARMA, INC. 2000 CROW CANYON PL., SUITE 380 SAN RAMON CA 94583 0 1 0 0 Chief Medical Officer Stock Option (right to buy) 1.81 2017-01-17 4 A 0 30000 0 A 2027-01-17 Common Stock 30000 30000 D Granted pursuant to the Issuer's 2016 Incentive Plan. This stock option will vest in 16 equal, quarterly installments over four years, beginning three months from the date of grant, so long as the Reporting Person remains in the company's continuous employ through the vesting period. Bijan Nejadnik, M.D. 2017-01-19