Scott T. Garrett - May 16, 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 16, 2025
Transactions value $: $100,001
Form type: 4
Date filed: 5/20/2025, 04:34 PM
Previous filing: May 9, 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	2025-05-20	0001231174

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HCWB	Common Stock	Purchase	$100K	+13.4K	+111.1%	$7.45	25.5K	May 16, 2025	Direct	F1

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

Explanation of Responses:

Id	Content
F1	These shares were issued pursuant to a conversion of Unsecured Convertible Promissory Notes which were issued to six holders through a Company financing of an aggregate principal of $270,000 in one-year Notes. The Notes contained a mandatory conversion provision, which resulted in the Notes converting into shares of common stock at a mandatory conversion price of $7.45 per share as set by the registered offering. The Notes converted after the closing of the Company's registered offering on May 15, 2025. The conversion transaction also included an allocated portion of the 2,174,311 shares of Wugen Inc. common stock held by the Company.

Content

These shares were issued pursuant to a conversion of Unsecured Convertible Promissory Notes which were issued to six holders through a Company financing of an aggregate principal of $270,000 in one-year Notes. The Notes contained a mandatory conversion provision, which resulted in the Notes converting into shares of common stock at a mandatory conversion price of $7.45 per share as set by the registered offering. The Notes converted after the closing of the Company's registered offering on May 15, 2025. The conversion transaction also included an allocated portion of the 2,174,311 shares of Wugen Inc. common stock held by the Company.