Hing C. Wong - May 7, 2025 Form 4 Insider Report for HCW Biologics Inc. (HCWB)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Nicole Valdivieso, as Attorney-in-Fact for Hing C. Wong
Stock symbol: HCWB
Transactions as of: May 7, 2025
Transactions value $: $2,405,000
Form type: 4
Date filed: 5/9/2025, 05:32 PM
Previous filing: Feb 22, 2024
Next filing: May 20, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Wong Hing C	Chief Executive Officer, Director, 10%+ Owner	C/O HCW BIOLOGICS INC, 2929 N. COMMERCE PARKWAY, MIRAMAR	/s/ Nicole Valdivieso, as Attorney-in-Fact for Hing C. Wong	2025-05-09	0001866258

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Purchase	$2.41M	+92.5K	+23.05%	$26.00^*	494K	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	+46.3K		$0.00	46.3K	May 7, 2025	Common Stock	46.3K	$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.