X0306 4 2017-10-10 0 0001390478 Galena Biopharma, Inc. GALE 0001474553 Ashton William C/O GALENA BIOPHARMA, INC. 2000 CROW CANYON PL., SUITE 380 SAN RAMON CA 94583 1 0 0 0 Common Stock 2017-10-10 4 A 0 15472 0.38 A 38154 D Effective January 1, 2017, 33% of the cash retainer payments to our Board will be paid in unrestricted shares of the Company's common stock, delivered from the 2016 Incentive Plan and priced on the first trading day of the quarter. Represents the closing stock price of the Company's stock on the first trading day of the quarter. William Ashton 2017-10-10