Lyell Immunopharma (LYEL) VP awarded 8,750 RSUs, sells 254 shares for taxes

Rhea-AI Filing Summary

Lyell Immunopharma VP, Corporate Controller Veronica Sanchez Bulis reported an equity grant and a small share sale. On February 10, 2026, she received 8,750 restricted stock units under Lyell’s 2021 Equity Incentive Plan at $0 per share equivalent, increasing her holdings to 15,891 common shares.

The RSUs vest over time: 12.5% on August 9, 2026, then 1/16 of the total vests quarterly, as long as she continues providing service. The filing also shows an open-market sale of 254 common shares at $23.12 per share, executed automatically to cover tax withholding from vested RSUs, leaving her with 15,637 directly owned shares.

Insider Trade Summary

Net Seller: 254 shares ($5,872)

Net Sell 2 txns

Insider Bulis Veronica Sanchez

Role VP, Corporate Controller

Sold 254 shs ($6K)

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8,750	$0.00	--
Sale	Common Stock	254	$23.12	$6K

Holdings After Transaction: Common Stock — 15,891 shares (Direct)

Footnotes (1)

1. Represents restricted stock units granted under the Issuer's 2021 Equity Incentive Plan. 12.5% of the total number of restricted stock units will vest on August 9, 2026, and thereafter an additional 1/16th of the total number of restricted stock units will vest quarterly thereafter, subject to the reporting person providing service through the applicable vesting date. Shares automatically sold to cover tax withholding obligation from settlement of vested restricted stock units.

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^*

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. 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)
	VP, Corporate Controller

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	02/10/2026		A		8,750(1)	A	$0	15,891	D
Common Stock	02/10/2026		S		254(2)	D	$23.12	15,637	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:

1. Represents restricted stock units granted under the Issuer's 2021 Equity Incentive Plan. 12.5% of the total number of restricted stock units will vest on August 9, 2026, and thereafter an additional 1/16th of the total number of restricted stock units will vest quarterly thereafter, subject to the reporting person providing service through the applicable vesting date.

2. Shares automatically sold to cover tax withholding obligation from settlement of vested restricted stock units.

	/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).
** 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 transactions did Lyell Immunopharma (LYEL) VP Veronica Sanchez Bulis report?

She reported receiving 8,750 restricted stock units and selling 254 common shares. The grant came under Lyell’s 2021 Equity Incentive Plan, while the sale at $23.12 per share was executed automatically to cover tax withholding from the settlement of vested restricted stock units.

How many Lyell Immunopharma (LYEL) shares does Veronica Sanchez Bulis own after this Form 4?

After the reported transactions, she directly owns 15,637 Lyell common shares. This reflects the 8,750 restricted stock units granted and the automatic sale of 254 shares to cover tax withholding, as disclosed in the Form 4 insider trading report filed with the SEC.

What are the vesting terms of the 8,750 restricted stock units granted at Lyell Immunopharma (LYEL)?

The 8,750 restricted stock units vest over time based on continued service. 12.5% will vest on August 9, 2026, and an additional 1/16 of the total vests quarterly thereafter, provided Veronica Sanchez Bulis continues her service through each applicable vesting date.

Why were 254 Lyell Immunopharma (LYEL) shares sold in this Form 4 filing?

The 254 shares were sold automatically to satisfy tax withholding obligations. The transaction occurred at $23.12 per share and was linked to the settlement of vested restricted stock units, meaning it was a tax-related sale rather than a discretionary open-market liquidation.

What role does Veronica Sanchez Bulis hold at Lyell Immunopharma (LYEL)?

She serves as Vice President and Corporate Controller at Lyell Immunopharma. The Form 4 identifies her as an officer, not a director or 10% owner, and reports her equity compensation and related tax-withholding share sale as part of standard executive incentive arrangements.

Which equity plan governed the restricted stock unit grant for Lyell Immunopharma (LYEL)?

The 8,750 restricted stock units were granted under Lyell Immunopharma’s 2021 Equity Incentive Plan. This plan provides for equity-based awards to key personnel, with vesting tied to continued service, aligning executive compensation with the company’s long-term performance and retention goals.