Galecto Inc

On August 7, 2024, the Board of Directors of Galecto, Inc. (the “Company”) and Jonathan Freve, the Company’s Chief Financial Officer and Treasurer, mutually agreed that Mr. Freve’s last day with the Company would be August 12, 2024. On the same day, the Board of Directors of the Company approved the appointment of Lori Firmani, the Company’s current Vice President,

Finance, as the Company’s interim Chief Financial Officer and Treasurer, as well as the Company’s principal financial officer and principal accounting officer, effective as of August 12, 2024.

The Company’s Board of Directors agreed to (i) pay Mr. Freve a one-time lump sum payment of $400,000 and (ii) fully accelerate the vesting of Mr. Freve’s 100,000 restricted stock units, both upon the execution of a separation agreement and release of claims reasonably acceptable to the Company.

Ms. Firmani, age 51, has served as the Company’s Vice President, Finance and Corporate Controller since November 2020. Prior to that, Ms. Firmani served as Chief Financial Officer of Spring Bank Pharmaceuticals, Inc. from April 2020 until its acquisition in November 2020, and prior to that served in financial roles of increasing responsibility from January 2016 to April 2020. Ms. Firmani is a certified public accountant in the Commonwealth of Massachusetts and holds an MBA from Babson College and a BS in accounting from the State University of New York at Geneseo.

Ms. Firmani has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, nor are any such transactions currently proposed. There are no family relationships between Ms. Firmani and any director or executive officer of the Company.