Lyell Immunopharma (LYEL) director receives 9,250-share option grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lyell Immunopharma director Cathy Friedman received a compensatory stock option grant for 9,250 shares of common stock. The option has an exercise price of $13.22 per share and expires on June 9, 2036. All share amounts reflect Lyell’s 1-for-20 reverse stock split effective May 30, 2025.
The option will vest on the earlier of the next annual stockholder meeting following June 10, 2026 (or immediately before that date if her board service ends at that meeting) or the first anniversary of June 10, 2026, subject to her continuous service. The filing also reports 5,000 shares held by The Duane Irrevocable Trust 2020 and 11,818 shares held by the Duane Family Trust, where Friedman is a trustee and disclaims beneficial ownership except to any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FRIEDMAN CATHY
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Option (right to buy) | 9,250 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Option (right to buy) — 9,250 shares (Direct, null);
Common Stock — 11,818 shares (Indirect, MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST)
Footnotes (1)
- On May 30, 2025, the Issuer effected a 1-for-20 reverse stock split of its common stock. All share and amounts reported herein reflect the reverse stock split. The Reporting Person is a trustee of MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST ("Duane Family Trust") and therefore may be deemed to share the power to direct the disposition and vote of the shares held by the Duane Family Trust. The Reporting Person disclaims beneficial ownership of all shares held by Duane Family Trust except to any pecuniary interest therein. The Reporting Person is a trustee of The Duane Irrevocable Trust 2020 ("Duane Irrevocable Trust") and therefore may be deemed to share the power to direct the disposition and vote of the shares held by the Duane Irrevocable Trust. The Reporting Person disclaims beneficial ownership of all shares held by Duane Irrevocable Trust except to any pecuniary interest therein. The option shares shall vest on the earlier of (a) the date of the next annual meeting of the stockholders that occurs following June 10, 2026 (or the date immediately prior to such date if the Reporting Person's service as a director ends at such annual meeting due to the Reporting Person's failure to be reelected or the Reporting Person not standing for re-election); or (b) the first anniversary of June 10, 2026, subject to the Reporting Person providing continuous service through such date.
Key Figures
Option grant size: 9,250 shares
Option exercise price: $13.22 per share
Option expiration date: June 9, 2036
+3 more
6 metrics
Option grant size
9,250 shares
Stock option covering common stock
Option exercise price
$13.22 per share
Exercise price for 9,250-share option
Option expiration date
June 9, 2036
Expiration of director stock option
Reverse stock split ratio
1-for-20
Effective May 30, 2025
Shares in Duane Irrevocable Trust 2020
5,000 shares
Indirect holdings reported
Shares in Duane Family Trust
11,818 shares
Indirect holdings reported
Key Terms
1-for-20 reverse stock split, The Duane Irrevocable Trust 2020, Duane Family Trust, pecuniary interest, +1 more
5 terms
1-for-20 reverse stock split financial
"On May 30, 2025, the Issuer effected a 1-for-20 reverse stock split"
The Duane Irrevocable Trust 2020 financial
"The Reporting Person is a trustee of The Duane Irrevocable Trust 2020"
Duane Family Trust financial
"trustee of MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST"
pecuniary interest financial
"disclaims beneficial ownership of all shares held ... except to any pecuniary interest therein"
stock option financial
"The option shares shall vest on the earlier of (a) the date of the next annual meeting"
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
FAQ
What insider transaction did Cathy Friedman report for Lyell Immunopharma (LYEL)?
Cathy Friedman reported receiving a stock option grant for 9,250 shares of Lyell Immunopharma common stock. The option was granted as compensation, carries a $13.22 exercise price, and is scheduled to vest based on future service and the timing of Lyell’s next annual meeting.
How does Cathy Friedman’s option grant in LYEL vest over time?
The 9,250-share option vests on the earlier of Lyell’s next annual stockholder meeting after June 10, 2026, or the first anniversary of June 10, 2026. Vesting requires Cathy Friedman to provide continuous service as a director through the applicable vesting date.
How did Lyell’s 1-for-20 reverse stock split affect the amounts in this Form 4?
Lyell completed a 1-for-20 reverse stock split on May 30, 2025, consolidating every 20 shares into one. All share and option amounts in this Form 4, including the 9,250-share option grant and trust holdings, are reported on a post-split basis consistent with the new share count.