Sec Form 4/A Filing - KLEMP WALTER V @ Moleculin Biotech, Inc. - 2018-06-06

FORM 4/A Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person KLEMP WALTER V 2. Issuer Name and Ticker or Trading Symbol Moleculin Biotech, Inc. [ MBRX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) CEO and President (Last) (First) (Middle) C/O MOLECULIN BIOTECH, INC., 5300 MEMORIAL DR., SUITE 950 3. Date of Earliest Transaction (MM/DD/YY) 06/06/2018 (Street) HOUSTON, TX77007 4. If Amendment, Date Original Filed (MM/DD/YY) 06/08/2018 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock option (right to buy) $ 1.82 06/06/2018 A 500,000 ( 1 ) ( 1 ) 06/06/2028 Common Stock 500,000 ( 2 ) 840,000 D

Reporting Owners Reporting Owner Name / Address Relationships Dir ector 10% Owner Officer Other KLEMP WALTER V C/O MOLECULIN BIOTECH, INC. 5300 MEMORIAL DR., SUITE 950 HOUSTON, TX77007 X CEO and President Signatures /s/ Walter Klemp 07/15/2019 Signature of Reporting Person Date

Explanation of Responses:

( 1 )As previously reported on a Form 4 filed on June 8, 2018 by the reporting person, the reporting person reported acquiring stock options to purchase 603,000 shares of common stock. However, the Company subsequently determined that stock options to purchase 103,000 shares of common stock under the Company's 2015 Stock Plan were not validly granted pursuant to the plan because they exceeded the limit on the number of stock options that may be granted to any individual participant one year period. Accordingly, the attempted grant of these excess stock options was ineffective, and they were never granted to the reporting person. The reporting person is filing this amendment to report the correct amount of stock options acquired, and to revise the vesting schedule for the stock options to provide that 150,750 options vested as of June 6, 2019, and the remaining options shall vest in three equal installments on June 6, 2020, 2021, and 2022. ( 2 )Issued in connection with the reporting person's employment with the Company.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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