[Form 3] Lyell Immunopharma, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Lyell Immunopharma (LYEL) filed an initial statement of beneficial ownership for its VP, Corporate Controller, effective 10/31/2025. The reporting person holds 9,452 shares of common stock directly, which includes RSUs subject to time-based vesting beginning after August 9, 2025. They also hold stock options to purchase 1,674, 624, and 3,000 shares at exercise prices of $42.6 and $37.4, expiring on 02/23/2033, 03/15/2032, and 09/09/2031, respectively, with noted vesting schedules.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Bulis Veronica Sanchez

(Last) (First) (Middle)

C/O LYELL IMMUNOPHARMA, INC.

201 HASKINS WAY, SUITE 101

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/31/2025

3. Issuer Name and Ticker or Trading Symbol
Lyell Immunopharma, Inc. [ LYEL ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Corporate Controller

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	9,452(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	(2)	02/23/2033	Common Stock	1,674	$42.6	D
Option (right to buy)	(3)	03/15/2032	Common Stock	624	$37.4	D
Option (right to buy)	(4)	09/09/2031	Common Stock	3,000	$37.4	D

Explanation of Responses:

1. Includes restricted stock units ("RSUs") under the Issuer's 2021 Equity Incentive Plan that are subject to time-based vesting and will be settled in common stock subject to vesting as follows: (1) 38 shares that will vest quarterly over the six-month period following August 9, 2025; (2) 312 shares that will vest quarterly over the eighteen-month period following August 9, 2025; (3) 2,516 shares that vest quarterly over the thirty month period following August 9, 2025 and (4) 3,937 shares that vest quarterly over the forty-two-month period following August 9, 2025; in each case, subject to the reporting person providing service through the applicable vesting date.

2. 12.5% of the option shares vested on August 9, 2023, with the remaining option shares to vest in equal monthly installments over the following forty-two months, subject to the reporting person providing service through the applicable vesting date.

3. 12.5% of the option shares vested on August 9, 2022, with the remaining option shares to vest in equal monthly installments over the following forty-two months, subject to the reporting person providing service through the applicable vesting date.

4. Fully vested.

	/s/ Mark Meltz, Attorney-in-Fact	11/10/2025
	** 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 5 (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 did LYEL disclose in this Form 3?

An officer filed an initial ownership report showing 9,452 common shares (including RSUs) held directly and multiple stock option awards with stated terms.

Who is the reporting person and role at LYEL?

The reporting person is an Officer, serving as VP, Corporate Controller.

How many LYEL common shares are beneficially owned?

The filing reports 9,452 common shares directly owned, including RSUs subject to vesting.

What stock options were reported and at what prices?

Options to buy 1,674 shares at $42.6, 624 at $37.4, and 3,000 at $37.4.

When do the reported options expire?

The options expire on 02/23/2033, 03/15/2032, and 09/09/2031.

How do the RSUs vest?

RSUs vest quarterly in tranches beginning after August 9, 2025, subject to continued service, with specific share amounts per tranche disclosed.

Is the ownership held directly or indirectly?

The filing lists Direct (D) ownership for both common stock and options.