Lyell Immunopharma (LYEL) grants CFO 140,000 stock options

Rhea-AI Filing Summary

Lyell Immunopharma reported that Chief Financial and Business Officer Smital Shah received a grant of options to buy 140,000 shares of common stock. The options have a $25.50 exercise price and expire on March 8, 2036. Twenty-five percent will vest on March 9, 2027, with the rest vesting in equal monthly installments over the following 36 months, contingent on continued service.

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

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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^*

Shah Smital

(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 Fin. and Bus. Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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

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)	$25.5	03/09/2026		A		140,000		(1)	03/08/2036	Common Stock	140,000	$0	140,000	D

Explanation of Responses:

1. 25% of the option shares will vest on March 9, 2027, with the remaining option shares to vest in equal monthly installments over the following 36 months, subject to the reporting person providing service through the applicable vesting date.

	/s/ Mark Meltz, Attorney-in-Fact	03/16/2026
	** 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).
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FAQ

What did Lyell Immunopharma (LYEL) disclose in this Form 4 for Smital Shah?

Lyell Immunopharma disclosed that Chief Financial and Business Officer Smital Shah received a grant of options for 140,000 shares of common stock, representing a compensation-related award rather than an open-market purchase or sale of existing shares.

How many Lyell Immunopharma (LYEL) options were granted to the CFO?

The company granted options covering 140,000 shares of Lyell Immunopharma common stock. These options give the right to buy that number of shares if exercised in the future, subject to the vesting schedule and other conditions tied to continued service.

What is the exercise price and expiration date of the LYEL options granted?

The options granted to Smital Shah carry an exercise price of $25.50 per share and expire on March 8, 2036. This sets the fixed price at which the holder may purchase Lyell Immunopharma common stock if the options are exercised.

How do the Lyell Immunopharma (LYEL) CFO’s options vest over time?

Twenty-five percent of the option shares will vest on March 9, 2027. The remaining shares will vest in equal monthly installments over the following 36 months, and all vesting is contingent on Shah continuing to provide service through each applicable vesting date.

Is the Lyell Immunopharma (LYEL) Form 4 transaction a market trade?

No, the transaction reflects a grant or award acquisition of stock options, not an open-market trade. The Form 4 classifies it under a grant code, indicating compensation rather than a discretionary purchase or sale of Lyell Immunopharma shares in the market.