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Galecto, Inc.
GLTO
Amendment
Ownership

19.99%

Total Shares

8,713,000

Issuer CIK

1800315

CUSIP

36322Q206

Event Date

Feb 8, 2026

Accepted

Feb 11, 2026, 06:11 PM

SEC EDGARView Original Filing
Reporting Persons (5)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
Fairmount Funds Management LLC
Investment Adviser
19.99%8,713,00008,713,000
Peter Evan Harwin
Individual
19.99%8,713,00008,713,000
Tomas Kiselak
Individual
19.99%8,713,00008,713,000
Fairmount Healthcare Fund II L.P.
Partnership
13.32%5,809,00005,809,000
Fairmount Healthcare Co-Invest V L.P.
Partnership
6.66%2,904,00002,904,000
Disclosure Items (5)

Security Title

Common Stock, par value $0.00001 per share

Issuer Name

Galecto, Inc.

Issuer Address

75 State Street, Boston, MA, 02109

Item 3 of the Statement is hereby amended and supplemented as follows: In aggregate, the Reporting Persons have voting and dispositive power over (i) 5,809,000 shares of Common Stock directly held by Fund II and (ii) 2,904,000 shares of Common Stock directly held by Co-Invest and exclude (i) 16,366,000 shares of Common Stock issuable upon conversion of 16,366 shares of Series B Preferred Stock directly held by Fund II, (ii) 1,148,000 shares of Common Stock issuable upon conversion of 1,148 shares of Series C Preferred Stock directly held by Fund II and (iii) 574,000 shares of Common Stock issuable upon conversion of 574 shares of Series C Preferred Stock directly held by Co-Invest. The conversion of the shares of Series B Preferred Stock and Series C Preferred Stock is each subject to a beneficial ownership limitation for the holder, together with its affiliates, of 19.99% of the outstanding shares of Common Stock. The securities excluded reflect shares of Common Stock issuable upon conversion of the shares of Series B Preferred Stock and Series C Preferred Stock in excess of such beneficial ownership limitations. At such time as Fairmount and its affiliates beneficially own 9.0% or less of the outstanding shares of Common Stock, the beneficial ownership limitations with respect to each of the Series B Preferred Stock and Series C Preferred Stock will automatically reduce to 9.99%.

Item 4 of the Statement is hereby amended and supplemented as follows: Conversion of Series C Preferred Stock Pursuant to the terms of the Certificate of Designation of Preferences, Rights and Limitations of the Series C Non-Voting Convertible Preferred Stock, dated November 7, 2025 (as corrected, the "Certificate of Designation"), following stockholder approval received on February 9, 2026 of the issuance of shares of Common Stock upon conversion of the Series C Preferred Stock, each share of Series C Preferred Stock automatically converted into 1,000 shares of Common Stock, subject to beneficial ownership limitations (the "Conversion"). On February 9, 2026, 5,809 shares of Series C Preferred Stock held by Fund II and 2,904 shares of Series C Preferred Stock held by Co-Invest automatically converted into 5,809,000 shares of Common Stock and 2,904,000 shares of Common Stock, respectively. Lock-up Agreements The securities of the Issuer held by the Reporting Persons, including the shares of Common Stock received upon conversion of the Series C Preferred Stock, are subject to the terms a lock-up agreement entered into with the underwriters for the Issuer's public offering, pursuant to which certain of the Reporting Persons agreed, subject to certain exceptions, not to directly or indirectly sell or otherwise transfer securities of the Issuer for a period of 60 days following the date of the final prospectus supplement relating to the public offering, which was February 10, 2026. In connection with a public offering of securities by the Company, Fund II, Co-Invest and Mr. Harwin entered into lock-up agreements with the underwriters for the offering, pursuant to which Fund II, Co-Invest and Mr. Harwin agreed, subject to certain exceptions, not to directly or indirectly sell or otherwise transfer securities of the Company for a period of 60 days following the date of the final prospectus supplement relating to the public offering, which was February 10, 2026 (the "Lock-up Agreements"). The foregoing description of the Lock-up Agreements does not purport to be complete and is qualified in its entirety by reference to the form of the Lock-up Agreement, which will be filed by the Company.

Percentage of Class

The percentages used in this Schedule 13D are calculated based upon 43,595,335 shares of Common Stock outstanding as of February 9, 2026 as reported in the Issuer's registration statement on Form S-3ASR filed with the SEC on February 9, 2026.

Number of Shares

The Reporting Persons' securities include (i) 5,809,000 shares of Common Stock directly held by Fund II and (ii) 2,904,000 shares of Common Stock directly held by Co-Invest and exclude (i) 16,366,000 shares of Common Stock issuable upon conversion of 16,366 shares of Series B Preferred Stock directly held by Fund II, (ii) 1,148,000 shares of Common Stock issuable upon conversion of 1,148 shares of Series C Preferred Stock directly held by Fund II and (iii) 574,000 shares of Common Stock issuable upon conversion of 574 shares of Series C Preferred Stock directly held by Co-Invest. The conversion of the shares of Series B Preferred Stock and Series C Preferred Stock is each subject to a beneficial ownership limitation for the holder, together with its affiliates, of 19.99% of the outstanding shares of Common Stock. The securities excluded reflect shares of Common Stock issuable upon conversion of the shares of Series B Preferred Stock and Series C Preferred Stock in excess of such beneficial ownership limitations. At such time as Fairmount and its affiliates beneficially own 9.0% or less of the outstanding shares of Common Stock, the beneficial ownership limitations with respect to each of the Series B Preferred Stock and Series C Preferred Stock will automatically reduce to 9.99%.

Transactions

Other than the Conversion, the Reporting Persons have not had any transactions in the shares of Common Stock in the past 60 days.

Shareholders

Fairmount is the investment manager or adviser to Fund II and Co-Invest and has voting and dispositive power over the shares of Common Stock held on behalf of Fund II and Co-Invest.

Date of 5% Ownership

N/A.

Exhibit 99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 of the Reporting Persons' Schedule 13D filed with the SEC on November 17, 2025).

Galecto, Inc. — Schedule 13D | 13D Filings