Lyell Immunopharma (LYEL) CMO awarded options on 50,000 shares

Rhea-AI Filing Summary

Lyell Immunopharma Chief Medical Officer David Shook received a grant of stock options. On February 10, 2026, he was awarded an option to buy 50,000 shares of Lyell Immunopharma common stock at an exercise price of $23.71 per share.

The option vests over time: 12.5% of the shares become exercisable six months after February 9, 2026, and the remaining shares vest in equal monthly installments until fully vested, as long as he continues providing service. Following this grant, he also directly held 21,900 shares of common stock.

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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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^*

Shook David

(Last) (First) (Middle)

C/O LYELL IMMUNOPHARMA, INC.

201 HASKINS WAY, SUITE 101

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

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
Common Stock								21,900	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
Option (right to buy)	$23.71	02/10/2026		A		50,000		(1)	02/09/2036	Common Stock	50,000	$0	50,000	D

Explanation of Responses:

1. Twelve and one-half percent (12.5%) of the total number of shares of Common Stock subject to the option will be vested and exercisable on the date that is six (6) months after February 9, 2026 (the "Vesting Commencement Date") and thereafter, an additional one fortyeighth (1/48th) of the shares will become vested and exercisable monthly on the same day as the Vesting Commencement Date (or, if there is no such corresponding day for a given month, on the last day of such month), until the option has become vested and exercisable with respect to one hundred percent (100%) of the shares, subject to the Reporting Person providing service to the Issuer through each applicable vesting date.

	/s/ Mark Meltz, Attorney-in-Fact	02/11/2026
	** 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).
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FAQ

What did Lyell Immunopharma (LYEL) disclose about David Shook’s Form 4 transaction?

Lyell Immunopharma reported that Chief Medical Officer David Shook received a grant of stock options for 50,000 shares on February 10, 2026. These options allow him to purchase Lyell common stock at a fixed exercise price if the vesting conditions are met over time.

How many Lyell Immunopharma (LYEL) stock options were granted to David Shook?

David Shook was granted options covering 50,000 shares of Lyell Immunopharma common stock. These options have an exercise price of $23.71 per share and become exercisable gradually under a defined vesting schedule tied to his continued service with the company.

What is the exercise price of David Shook’s Lyell (LYEL) stock options?

The stock options granted to David Shook have an exercise price of $23.71 per share. This means he can buy Lyell Immunopharma common stock at $23.71 once the options vest, regardless of the market price at that time, subject to the vesting conditions.

How do David Shook’s Lyell Immunopharma (LYEL) options vest over time?

Twelve and one-half percent of the option shares vest six months after February 9, 2026. The remaining shares vest in equal monthly installments, with one forty-eighth of the grant vesting each month, contingent on his continued service through each applicable vesting date.

How many Lyell Immunopharma (LYEL) common shares does David Shook own after this Form 4?

After the reported transactions, David Shook directly beneficially owned 21,900 shares of Lyell Immunopharma common stock. This figure reflects his non-derivative holdings separate from the 50,000 stock options, which represent the right to acquire additional shares in the future.

Is David Shook’s ownership in Lyell (LYEL) direct or indirect according to the Form 4?

The Form 4 indicates David Shook’s reported holdings are direct. Both the 21,900 shares of common stock and the 50,000 stock options are classified with ownership code “D,” meaning he directly holds or directly benefits from these securities as disclosed.