Scott T. Garrett - May 7, 2025 Form 4 Insider Report for HCW Biologics Inc. (HCWB)

Role: Director
Signature: /s/ Nicole Valdivieso, as Attorney-in-Fact for Scott T. Garrett
Stock symbol: HCWB
Transactions as of: May 7, 2025
Transactions value $: $140,010
Form type: 4
Date filed: 5/9/2025, 05:31 PM
Previous filing: Jun 17, 2024
Next filing: May 20, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
GARRETT SCOTT T	Director	C/O HCW BIOLOGICS INC, 2929 N. COMMERCE PARKWAY, MIRAMAR	/s/ Nicole Valdivieso, as Attorney-in-Fact for Scott T. Garrett	2025-05-09	0001231174

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Purchase	$140K	+5.39K	+80.41%	$26.00^*	12.1K	May 8, 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HCWB	Common Stock Purchase Warrant	Purchase	$0	+2.69K		$0.00	2.69K	May 7, 2025	Common Stock	2.69K	$26.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares are being issued as a portion of and pursuant to the Company entering into a definitive conversion agreement on May 1, 2025, with a conversion date of May 7, 2025, along with 13 other holders of $6.6 million of the outstanding principal of the Secured Notes to convert the Secured Notes for an aggregate of 253,083 shares of the Company's Common Stock at a conversion price of $26.00 per share (on a post-reverse split basis), issuance of an aggregate of 126,540 warrants each exercisable for one share of Common Stock at an exercise price of $26.00 per share (on a post-reverse split basis), and a portion of the 2,174,311 shares of Wugen Inc. common stock held by the Company.

Content

These shares are being issued as a portion of and pursuant to the Company entering into a definitive conversion agreement on May 1, 2025, with a conversion date of May 7, 2025, along with 13 other holders of $6.6 million of the outstanding principal of the Secured Notes to convert the Secured Notes for an aggregate of 253,083 shares of the Company's Common Stock at a conversion price of $26.00 per share (on a post-reverse split basis), issuance of an aggregate of 126,540 warrants each exercisable for one share of Common Stock at an exercise price of $26.00 per share (on a post-reverse split basis), and a portion of the 2,174,311 shares of Wugen Inc. common stock held by the Company.