Candel Therapeutics (CADL) CEO receives 629,000 time-vested stock options

Rhea-AI Filing Summary

Candel Therapeutics, Inc. reported that its Chief Executive Officer and director, Paul Peter Tak, received a grant of stock options. On January 26, 2026, he was awarded an option to purchase 629,000 shares of common stock at an exercise price of $6.01 per share.

The option was granted directly to him and is subject to time-based vesting. The underlying shares vest in 48 equal monthly installments starting after January 26, 2026, contingent on his continued service with the company on each vesting date. Following this grant, he beneficially owned stock options for 629,000 shares.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tak Paul Peter

(Last) (First) (Middle)

C/O CANDEL THERAPEUTICS, INC.

117 KENDRICK ST., SUITE 450

(Street)

NEEDHAM MA 02494

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Candel Therapeutics, Inc. [ CADL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		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: 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)	$6.01	01/26/2026		A		629,000		(1)	01/26/2036	Common Stock	629,000	$0	629,000	D

Explanation of Responses:

1. This option is subject to time-based vesting. The shares underlying this option shall vest and become exercisable in forty-eight (48) equal monthly installments following January 26, 2026, subject to the Reporting Person's continued service on each vesting date.

	/s/ Charles Schoch, as Attorney-in-Fact for Paul Peter Tak	01/28/2026
	** 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 Number.

FAQ

What insider transaction did Candel Therapeutics (CADL) report for Paul Peter Tak?

Candel Therapeutics reported that CEO and director Paul Peter Tak received a stock option grant. On January 26, 2026, he was awarded options to buy 629,000 shares of common stock at an exercise price of $6.01 per share, held directly.

What are the terms of the 629,000 stock options granted at Candel Therapeutics (CADL)?

The grant is a stock option to buy 629,000 shares at $6.01 per share. The options vest in forty-eight equal monthly installments after January 26, 2026, and become exercisable as long as Paul Peter Tak continues serving the company on each vesting date.

How do the Candel Therapeutics (CADL) CEO’s options vest over time?

The CEO’s stock options vest using time-based vesting. The 629,000 underlying shares vest and become exercisable in 48 equal monthly installments following January 26, 2026, conditioned on his continued service with Candel Therapeutics at each monthly vesting date.

What position does the reporting person hold at Candel Therapeutics (CADL)?

The reporting person, Paul Peter Tak, serves as both a director and Chief Executive Officer of Candel Therapeutics. The Form 4 identifies his dual role and reports the stock option grant made to him in connection with his ongoing service to the company.

How many stock options does the Candel Therapeutics (CADL) CEO hold after this transaction?

After the reported grant, Paul Peter Tak beneficially owns stock options for 629,000 derivative securities. These represent rights to purchase 629,000 shares of Candel Therapeutics common stock, subject to the stated $6.01 exercise price and the time-based vesting schedule.

Is the Candel Therapeutics (CADL) CEO’s stock option grant direct or indirect ownership?

The Form 4 shows the CEO’s 629,000 stock options as directly owned. The ownership form is marked “D” for direct, and no separate entity or indirect beneficial ownership arrangement is described in the footnotes for this particular derivative security grant.