GRAIL (GRAL) Form 4 shows major holder sale, stake below 10%

Rhea-AI Filing Summary

GRAIL, Inc. reported an insider transaction on a Form 4 involving a large sale of common stock. On 11/17/2025, a reporting person sold 1,000,000 shares of common stock, par value $0.001 per share, in an open-market transaction coded "S" at a price of $79.85 per share. After this sale, the reporting person beneficially owned 3,502,126 shares of GRAIL common stock in direct ownership form.

The remarks state that following this sale, the reporting person is no longer a 10% beneficial owner of GRAIL, and the filing is characterized as an exit filing by the reporting person. The form is filed for a single reporting person and indicates the transaction was not reported as part of a derivative security.

Insights

Equity ownership & governance analyst

Large insider sale moves holder below 10% ownership threshold.

The disclosure shows a major shareholder in GRAIL, Inc. selling 1,000,000 shares of common stock at $79.85 per share on 11/17/2025. After the sale, the holder still owns 3,502,126 shares, but the remarks clarify they are no longer a 10% beneficial owner.

Falling below the 10% level changes how this investor is classified and can affect future reporting obligations. It also reduces the concentration of ownership in a single large holder. The filing describes this as an exit filing for the reporting person, signaling a notable step-down in their disclosed stake without specifying any future intentions.

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

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X

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^*

ILLUMINA, INC.

(Last) (First) (Middle)

5200 ILLUMINA WAY

(Street)

SAN DIEGO CA 92122

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRAIL, Inc. [ GRAL ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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
Common stock, par value $0.001 per share	11/17/2025		S		1,000,000	D	$79.85	3,502,126	D

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

Explanation of Responses:

Remarks:

Following the sale reported herein, the reporting person is no longer a 10% beneficial owner and this reflects an exit filing by the reporting person.

	Rob Maynes, Vice President, Legal and Assistant Secretary	11/18/2025
	** 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 GRAIL, Inc. (GRAL) disclose on this Form 4?

The filing reports that a major holder of GRAIL, Inc. sold 1,000,000 shares of GRAIL common stock in an open-market transaction on 11/17/2025.

At what price were the GRAIL, Inc. (GRAL) shares sold in the reported transaction?

The 1,000,000 shares of GRAIL common stock were sold at a price of $79.85 per share.

How many GRAIL, Inc. (GRAL) shares does the reporting person own after this transaction?

Following the sale, the reporting person beneficially owns 3,502,126 shares of GRAIL common stock in direct ownership.

What change in ownership status is noted for the GRAIL, Inc. reporting person?

The remarks state that, after the reported sale, the reporting person is no longer a 10% beneficial owner of GRAIL, and this is described as an exit filing.

Does this GRAIL, Inc. (GRAL) Form 4 involve any derivative securities?

No. The completed section shows activity only in non-derivative common stock, and the derivative securities table contains no reported transactions.

Is the GRAIL, Inc. (GRAL) Form 4 filed for one person or a group?

The form indicates it is filed by one reporting person, not by a group.