FORM 4
[ ] 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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Chang Glenn
2. Issuer Name and Ticker or Trading Symbol

iBio, Inc. [ IBIO ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O IBIO, INC., 600 MADISON AVENUE, SUITE 1601
3. Date of Earliest Transaction (MM/DD/YYYY)

2/20/2019
(Street)

NEW YORK, NY 10022
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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)   $6.60   2/20/2019     D         6000      (1) 8/10/2019   Common Stock   6000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    
Stock Option (right to buy)   $17.30   2/20/2019     D         3000      (1) 8/16/2020   Common Stock   3000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      2250         (4) 2/20/2024   Common Stock   2250     (5) 36750   (3) D    
Stock Option (right to buy)   $19.60   2/20/2019     D         6000      (1) 10/21/2021   Common Stock   6000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    
Stock Option (right to buy)   $11.00   2/20/2019     D         6000      (1) 7/24/2022   Common Stock   6000     (2) 36570   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    
Stock Option (right to buy)   $5.00   2/20/2019     D         6000      (1) 7/16/2023   Common Stock   6000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    
Stock Option (right to buy)   $4.90   2/20/2019     D         6000      (1) 9/5/2024   Common Stock   6000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    
Stock Option (right to buy)   $17.20   2/20/2019     D         10000      (1) 9/4/2025   Common Stock   10000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      7500         (4) 2/20/2024   Common Stock   7500     (5) 36750   (3) D    
Stock Option (right to buy)   $4.00   2/20/2019     D         6000      (1) 5/1/2027   Common Stock   6000     (2) 36750   (3) D    
Stock Option (right to buy)   $0.93   2/20/2019     A      4500         (4) 2/20/2024   Common Stock   4500     (5) 36750   (3) D    

Explanation of Responses:
(1)  Vested in three equal annual instalments on the anniversary of the date of grant.
(2)  On 2/20/19, the issuer canceled, pursuant to the issuer's option exchange program, old stock options in exchange for new stock options, on the basis of three new options in exchange for four old options, for all eligible option holders who elected to participate in the option exchange, including the cancelation of this option grant to the reporting person in exchange for new options.
(3)  Reflects number of securities beneficially owned following all transactions reported on this Form 4.
(4)  Fully vests on first anniversary of grant date.
(5)  On 2/20/19, the issuer issued new stock options, pursuant to the issuer's option exchange program, in exchange for old stock options, on the basis of three new options in exchange for four old options, for all eligible option holders who elected to participate in the option exchange, including this option grant to the reporting person.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Chang Glenn
C/O IBIO, INC.
600 MADISON AVENUE, SUITE 1601
NEW YORK, NY 10022
X



Signatures
/s/ Glenn Chang 5/13/2019
** Signature of Reporting Person Date


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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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