X0306 4 2015-12-08 0 0001574235 Pulmatrix, Inc. PULM 0001415537 Iwicki Mark T C/O PULMATRIX, INC., 990 HAYDEN AVE LEXINGTON MA 02421 1 0 0 0 Stock Option (Right to Buy) 4.75 2015-12-08 4 A 0 73481 0.00 A 2025-12-08 Common Stock 73481 73481 D One-fourth (1/4) of the option vests on December 8, 2016 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 December 8, 2016, provided that Mr. Iwicki 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/ Mark Iwicki 2015-12-09