XBIT XBiotech Inc

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 * MCKENZIE W THORPE	2. Issuer Name and Ticker or Trading Symbol XBiotech Inc. [ XBIT ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    __X__ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) 832 GEORGIA AVENUE, SUITE 1100	3. Date of Earliest Transaction (MM/DD/YYYY) 12/16/2021
(Street) CHATTANOOGA, TN 37402 (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
Common Stock	12/16/2021		M		250000	A	$10.00	2810964	D
Common Stock	12/16/2021		F(1)		213493	D	$11.71	2597471	D

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	$10.00	12/16/2021		M			250000	12/31/2011	12/30/2021	Common Stock	250000	$0.00	320000	D

Explanation of Responses:

(1)

Represents a "net exercise" of outstanding stock options. The reporting person received 36,507 shares of common stock on net exercise of option to purchase 250,000 shares of common stock. The Company withheld 213,493 shares of common stock underlying the option for payment of the exercise price using the closing stock price on December 16, 2021 of $11.71, pursuant to the terms of the 2005 Equity Incentive Plan.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MCKENZIE W THORPE 832 GEORGIA AVENUE SUITE 1100 CHATTANOOGA, TN 37402	X	X

Signatures
/s/Queena Han under Power of Attorney for W. Thorpe McKenzie		1/13/2022
**Signature of Reporting Person		Date