Candel director gets fully vested option grant

Candel Therapeutics director Nicoletta Loggia received a fully vested stock option award covering 779 shares of common stock.

Rhea-AI Filing Summary

Candel Therapeutics director Nicoletta Loggia received a fully vested stock option award covering 779 shares of common stock. The option has an exercise price of $4.90 per share and was granted in lieu of normal quarterly cash payments, leaving her with 779 derivative securities following the grant.

Insights

Equity compensation analyst

Director received a small, fully vested option grant in lieu of cash fees, a routine non-cash compensation event.

Candel Therapeutics granted director Nicoletta Loggia a stock option for 779 shares of common stock. The option has a $4.90 exercise price and was awarded instead of normal quarterly cash payments, so it functions as equity-based director compensation rather than a market transaction.

The filing shows 779 derivative securities held after the grant and no additional option positions, suggesting this is a modest, stand-alone award. Because it is a standard director fee replacement and not an open-market trade, it carries limited informational value for assessing sentiment toward the stock.

Insider Trade Summary

Grant/Award: 779 shares

Grant/Award 1 txn

Insider Loggia Nicoletta

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	779	$4.114	$3K

Holdings After Transaction: Stock Option (Right to Buy) — 779 contracts (Direct)

Footnotes (1)

1. F1. This award has been granted in lieu of normal quarterly cash payments. The underlying award quantity is fully vested at time of grant.

Key Figures

Option grant size: 779 options Exercise price: $4.90 per share Fair value per option: $4.1140 +3 more

6 metrics

Option grant size 779 options Stock Option (Right to Buy) granted to director

Exercise price $4.90 per share Exercise price for the stock option award

Fair value per option $4.1140 Transaction price per option at grant

Options held after grant 779 options Total derivative securities following transaction

Expiration date 2036-03-31 Option expiration date for this award

Exercise start date 2026-04-01 Exercise date listed for the option

Key Terms

Stock Option (Right to Buy), fully vested, derivative securities, in lieu of normal quarterly cash payments

4 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

fully vested financial

"The underlying award quantity is fully vested at time of grant"

derivative securities financial

"total_shares_following_transaction: 779.0000 derivative securities"

Financial contracts whose value is tied to the price or performance of another asset, such as a stock, bond, commodity, index, or currency; examples include options, futures and swaps. They matter to investors because they let you protect against price swings, bet on future moves or gain larger exposure with less upfront cash—like using a lever or insurance policy on an investment—so they can amplify gains and losses and help manage portfolio risk.

in lieu of normal quarterly cash payments financial

"This award has been granted in lieu of normal quarterly cash payments"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Candel Therapeutics (CADL) director Nicoletta Loggia receive in this Form 4?

Director Nicoletta Loggia received a stock option award for 779 shares of Candel Therapeutics common stock. The option is fully vested at grant and provides the right to buy shares at a fixed exercise price instead of receiving normal quarterly cash director payments.

What is the exercise price of the stock options granted to the CADL director?

The stock option granted to the Candel Therapeutics director has an exercise price of $4.90 per share. This is the price at which she can purchase up to 779 shares of common stock under the award if she chooses to exercise the option in the future.

Was the Candel Therapeutics director stock option grant part of regular compensation?

Yes. The footnote states the award was granted in lieu of normal quarterly cash payments. This means the director chose or was given equity compensation instead of cash fees, making the transaction a routine element of director pay rather than a discretionary market trade.

Are the stock options granted to the CADL director vested or subject to future vesting?

The filing notes that the underlying award quantity is fully vested at the time of grant. This means all 779 option shares are immediately exercisable, with no additional time-based vesting conditions that must be satisfied before the director can use the options.

How many derivative securities does the Candel Therapeutics director hold after this transaction?

After this transaction, the Form 4 reports that the director beneficially owns 779 derivative securities related to this stock option award. This figure matches the full grant size, indicating the entire option position comes from this single, fully vested grant described in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 05:08 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Loggia Nicoletta

(Last) (First) (Middle)

C/O CANDEL THERAPEUTICS, INC.

117 KENDRICK ST., SUITE 450

(Street)

NEEDHAM MASSACHUSETTS 02494

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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)	$4.9	03/31/2026		A		779		04/01/2026(1)	03/31/2036	Common Stock	779	$4.114	779	D

Explanation of Responses:

1. This award has been granted in lieu of normal quarterly cash payments. The underlying award quantity is fully vested at time of grant.

	/s/ Charles Schoch, as Attorney-In-Fact for Nicoletta Loggia	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)