X0306 4 2018-05-15 0000749647 Celsion CORP CLSN 0001384550 Tardugno Michael H C/O CELSION CORPORATION 997 LENOX DRIVE, SUITE 100 LAWRENCEVILLE NJ 08648 1 1 Chairman, President and CEO Option to Purchase Celsion Corporation Common Stock 2.22 2018-05-15 4 A 0 850000 0 A 2018-05-15 2028-05-15 Celsion Corporation Common Stock 850000 1046071 D Represents the closing stock price on the option grant date (February 12, 2018) which was subject to the approval of the Celsion Corporation 2018 Stock Incentive Plan at the Annual Meeting of Stockholders held on May 15, 2018. The options vest as follows: 1/2 on the date of grant; 1/4 on the one year anniversary of the date of grant; and 1/4 on the second year anniversary of the date of grant. On February 12, 2018, Celsion's Board of Directors approved a stock option award subject to the approval of the Celsion Corporation 2018 Stock Incentive Plan at the Annual Meeting of Stockholders held on May 15, 2018. /s/ Timothy J Tumminello, Controller & CAO 2018-05-16