X0306 4 2020-10-02 0001659617 Moleculin Biotech, Inc. MBRX 0001471971 Cermak Elizabeth C/O MOLECULIN BIOTECH, INC. 5300 MEMORIAL DR., SUITE 950 HOUSTON TX 77007 1 Stock option (right to buy) 0.8074 2020-10-02 4 A 0 40000 A 2030-10-02 Common Stock 40000 40000 D The options set forth in this table vest in three equal annual installments beginning on the first anniversary of the Transaction Date, subject to the grantee's continued service on the Company's Board of Directors on each vesting date. The options were issued in connection with the reporting person's Board of Director service to the Company. /s/ Jonathan Foster by Power of Attorney 2020-10-05