Candel Therapeutics (CADL) grants CFO 232,000 time-vested options

Rhea-AI Filing Summary

Candel Therapeutics, Inc. reported a new stock option grant to its Chief Financial Officer, Charles Schoch. On January 26, 2026, he received options to purchase 232,000 shares of common stock at an exercise price of $6.01 per share.

These options vest over time. The underlying shares will vest and become exercisable in forty-eight equal monthly installments following January 26, 2026, and each installment depends on his continued service with the company on the relevant vesting date.

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

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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^*

Schoch Charles

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial 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		232,000		(1)	01/26/2036	Common Stock	232,000	$0	232,000	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	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) disclose for its CFO?

Candel Therapeutics disclosed a stock option grant to its Chief Financial Officer, Charles Schoch. He received options for 232,000 common shares on January 26, 2026, providing the right to buy company stock at a fixed exercise price of $6.01 per share.

How many Candel Therapeutics (CADL) stock options were granted to the CFO?

The Chief Financial Officer received stock options covering 232,000 shares of Candel Therapeutics common stock. This entire amount was granted on January 26, 2026, and represents the total number of underlying shares subject to this particular stock option award.

What is the exercise price of the CFO’s Candel Therapeutics (CADL) stock options?

The stock options granted to the Chief Financial Officer have an exercise price of $6.01 per share. This means he can purchase Candel Therapeutics common stock at $6.01 when vested and exercised, regardless of the market price at that future time.

How do the Candel Therapeutics (CADL) CFO stock options vest over time?

The CFO’s options vest in forty-eight equal monthly installments after January 26, 2026. Each month, a portion becomes exercisable, but only if he continues to serve the company on each vesting date, making the award fully time-based.

What service condition applies to the Candel Therapeutics (CADL) CFO option grant?

The option is subject to a continued service requirement. The shares underlying the option vest and become exercisable only if the Chief Financial Officer remains in service with Candel Therapeutics on each of the forty-eight monthly vesting dates.

Is the Candel Therapeutics (CADL) CFO option grant reported as directly owned?

Yes. The filing shows the 232,000 stock options as directly owned by the reporting person. The ownership form is listed as “D” for direct, and no separate indirect ownership entity is identified in the transaction details.