X0306 4 2019-05-16 0 0001574235 Pulmatrix, Inc. PULM 0001705767 Raad Teofilo David C/O PULMATRIX, INC., 99 HAYDEN AVE LEXINGTON MA 02421 1 1 0 0 Chief Executive Officer Stock Option (Right to Buy) 1.06 2019-05-16 4 A 0 320000 0.00 A 2029-05-16 Common Stock 320000 320000 D The option vests in forty-eight (48) equal monthly installments on the 16th day of each month, with the first tranche vesting on June 16, 2019, provided that the reporting person is providing services to the Issuer on the applicable vesting date and subject to the terms and conditions of the Pulmatrix, Inc. Amended and Restated 2013 Employee, Director and Consultant Equity Incentive Plan. /s/ Teofilo D. Raad 2019-05-20