Galecto, Inc. (GLTO) — Reincorporation detail

Announcement

2025-08-20

First SEC disclosure

Meeting / Vote

2026-02-09

APPROVED

Effective

—

Legal effective date

Market Cap

$32M

At announcement

Why this firm matters

Standard cohort firm (Approved). Included for breadth across destinations and sectors.

Vote outcome — reincorporation proposal

Approval standard: majority of outstanding shares entitled to vote (DGCL §266 conversion to Cayman Islands). Meeting type: annual.

For

826,366

Against

246,649

Abstain

2,665

Broker non-vote

155,340

77.01% approval (For ÷ outstanding voting power (DGCL §266 conversion to Cayman Islands — comparator))

Event-study abnormal returns — announcement window

Returns around the announcement date.

Event date: 2025-08-20 · Estimation window: trailing 240 days; 240 valid after NaN drop

Specification	Day-0 AR	Inference
Market model (SPY benchmark) HEADLINEi	+1.19%	Patell-z p-value = 0.842

Event-study abnormal returns — vote window

Returns around the shareholder-vote (or written-consent) date.

Specification	CAR / BHAR	Details
Cumulative abnormal return — vote windowi	+22.58% ^***	event 2026-02-09 · Synthetic-control benchmark · p=0.048

*** p < 0.05 · * p < 0.10 · CAR = cumulative abnormal return; BHAR = buy-and-hold abnormal return; FFC6 = Fama-French five-factor + momentum (UMD)

Long-run abnormal returns & pooled estimates

Buy-and-hold abnormal returns (1 / 3 / 6 / 12 months) and calendar-time portfolio alpha (CTE) post-effective.

No long-run / pooled estimates available for this firm yet — run phase5z_compute_longrun.py on Windows to populate (requires effective date ≥ 3 months ago).

Cohort-level robustness battery

Heckman selection-corrected ATE · Romano-Wolf step-down + BH FDR · pooled BHAR. This firm's reading is shown in context of the full cohort.

Heckman two-step selection correction (controlled-vs-widely-held)

Cohort ATE = +0.94% (SE = 7.06%, n = 2395) after correcting for controller-status selection (inverse Mills ratio = -0.062).

Romano-Wolf step-down + Benjamini-Hochberg FDR (n = 47)

This firm: raw p = 0.842, Romano-Wolf adjusted p = 1.000, BH-FDR adjusted p = 0.966. Multiple-hypothesis correction is computed across the full cohort to control family-wise error rate at alpha = 0.05.

Pooled cohort BHAR (mover firms only)

BHAR_63d: mean = -5.60% (SE = 22.11%, n = 3, p = 0.499) · BHAR_126d: mean = +17.33% (SE = 41.17%, n = 3, p = 0.774)

See Cohort event study → for the full battery and forest plots.

Source filings

Primary-source documents on SEC EDGAR plus IR / search links.

IR — https://investors.galecto.com/
EDGAR — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001800315&type=&dateb=&owner=include&count=40
Proxy — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001800315&type=DEF+14A&dateb=&owner=include&count=40
8-K Item 5.07 (vote) · 0001193125-26-043741 — filing →

Classification & audit trail

Bucket

Panel eligibility

PANEL_A_post_SB29_non_TX_NV

Audit status

VERIFIED_EDGAR | PATCHED_v6-rev77_2026-05-24_wave1b_audit_fixes: per firm_roster_audit_2026-05-24.md + batch summaries

Source confidence

VERIFIED_VOTE

Transaction status

APPROVED_PENDING_EFFECTIVE

Audit notes

DEF 14A Proposal No. 3A "conversion" (DGCL §266) + Proposal No. 3B "continuation" (Cayman Cos. Act §201). Vote 2026-02-09 passed; EDGAR cover-page State of Inc. still shows DE as of 2026-05-15 — Cayman Registrar registration not yet recorded on EDGAR. Prior Wave 4 subagent §390 attribution was WRONG; corrected to §266 per primary text. Per Wave 5-A verification.
Galecto DE->Cayman continuation effective 2026-02-09; US listing deregistered or symbol changed post-continuation. Excluded from daily mcap refresh until ADR/symbol resolved.
Galecto DE->Cayman continuation effective 2026-02-09; US listing deregistered or symbol changed post-continuation. Excluded from daily mcap refresh until ADR/symbol resolved.