Candel Therapeutics (CADL) CTO awarded 154,000 stock options at $6.01 strike

Rhea-AI Filing Summary

Candel Therapeutics Chief Technology Officer Seshu Tyagarajan received a new stock option grant. On January 26, 2026, he was granted options to purchase 154,000 shares of Candel Therapeutics common stock at an exercise price of $6.01 per share.

The options vest in forty-eight equal monthly installments starting after January 26, 2026, as long as he continues to serve the company on each vesting date. After this grant, he beneficially owns 154,000 stock options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Tyagarajan Seshu

Role Chief Technology Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	154,000	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 154,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Tyagarajan Seshu

(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 Technology 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		154,000		(1)	01/26/2036	Common Stock	154,000	$0	154,000	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 Seshu Tyagarajan	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 CADL report for Seshu Tyagarajan?

Candel Therapeutics reported a stock option grant to Chief Technology Officer Seshu Tyagarajan. He received options for 154,000 shares of common stock, giving him the right to buy shares at a fixed exercise price if vesting and service conditions are met.

How many Candel Therapeutics (CADL) options were granted in this Form 4?

The Form 4 shows a grant of 154,000 stock options. These options give the holder the right to purchase 154,000 shares of Candel Therapeutics common stock, subject to vesting in monthly installments and continued service with the company.

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

The exercise price of the stock options granted is $6.01 per share. This means the CTO can buy Candel Therapeutics common shares at $6.01 once the options vest, regardless of the market price at that time.

How do the CADL options granted to the CTO vest over time?

The options vest over forty-eight equal monthly installments starting after January 26, 2026. Each month, a portion becomes exercisable, but vesting continues only if the Chief Technology Officer remains in service on each scheduled vesting date.

What is the total CADL derivative position held after this Form 4 transaction?

After this transaction, the reporting person beneficially owns 154,000 stock options directly. This entire position comes from the newly granted award, which is subject to time-based vesting tied to continued service with Candel Therapeutics.