Candel Therapeutics (CADL) director gets 32,000 stock options at $9.08

Rhea-AI Filing Summary

Candel Therapeutics director Renee Gaeta received a grant of 32,000 stock options to buy common shares at an exercise price of $9.08. These options were awarded as compensation, not through open-market trading.

The options use time-based vesting and become exercisable on the earlier of June 23, 2027 or the company’s next Annual Meeting of Stockholders, with vesting stopping if she leaves the board unless the board decides otherwise. The options expire on June 23, 2036, and following this grant she holds 32,000 options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gaeta Renee

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	32,000	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 32,000 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Option grant size: 32,000 options Exercise price: $9.08 per share Shares underlying options: 32,000 shares +3 more

6 metrics

Option grant size 32,000 options Director award on June 23, 2026

Exercise price $9.08 per share Stock Option (Right to Buy) for common stock

Shares underlying options 32,000 shares Underlying common stock for the granted options

Post-grant derivative holdings 32,000 options Total options held following the transaction

Option expiration date June 23, 2036 Final expiration of granted stock options

Vesting date trigger June 23, 2027 Latest vesting date, or earlier at next annual meeting

Key Terms

Stock Option (Right to Buy), time-based vesting, Annual Meeting of Stockholders, Board of Directors

4 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

time-based vesting financial

"This option is subject to time-based vesting."

Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.

Annual Meeting of Stockholders regulatory

"the date of the next Annual Meeting of Stockholders of the Issuer"

Board of Directors regulatory

"resigns from the Board of Directors (the "Board") of the Issuer"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/24/2026 - 04:32 PM Accepted by SEC EDGAR 06/24/2026 - 04:30 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^*

Gaeta Renee

(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)
06/23/2026

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)	$9.08	06/23/2026		A		32,000		(1)	06/23/2036	Common Stock	32,000	$0	32,000	D

Explanation of Responses:

1. This option is subject to time-based vesting. The shares underlying this option shall vest and become exercisable upon the earlier of (i) June 23, 2027 or (ii) the date of the next Annual Meeting of Stockholders of the Issuer; provided, however, that all vesting shall cease if the Reporting Person resigns from the Board of Directors (the "Board") of the Issuer or otherwise ceases to serve as a director, unless the Board determines that the circumstances warrant continuation of vesting.

	/s/ Charles Schoch, as Attorney-In-Fact for Renee Gaeta	06/24/2026
	** 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)

FAQ

What did Candel Therapeutics (CADL) report in this Form 4 for Renee Gaeta?

Candel Therapeutics reported that director Renee Gaeta received a grant of 32,000 stock options. The options allow her to buy common stock at $9.08 per share, with time-based vesting and expiration on June 23, 2036.

What is the size and exercise price of the CADL stock options granted to Renee Gaeta?

Renee Gaeta was granted 32,000 stock options in Candel Therapeutics. Each option gives the right to buy one share of common stock at an exercise price of $9.08, providing potential future ownership if the options vest and are exercised.

How do the Candel Therapeutics (CADL) options granted to Renee Gaeta vest?

The options vest on a time-based schedule. They become exercisable on the earlier of June 23, 2027 or the date of Candel Therapeutics’ next Annual Meeting of Stockholders, with vesting stopping if she leaves the board unless the board decides to continue vesting.

When do Renee Gaeta’s Candel Therapeutics (CADL) stock options expire?

Renee Gaeta’s 32,000 Candel Therapeutics stock options expire on June 23, 2036. She can exercise vested options any time before that date, subject to company and plan rules, to purchase common shares at the $9.08 exercise price.

Is Renee Gaeta’s Form 4 transaction in CADL shares a market purchase or sale?

The Form 4 reports a compensation-related grant, not a market trade. Renee Gaeta received 32,000 stock options as a director award, coded as an acquisition (A), with no open-market buying or selling of Candel Therapeutics common shares reported.