Lyell Immunopharma (LYEL) grants General Counsel 50,000 options

Rhea-AI Filing Summary

Lyell Immunopharma General Counsel Mark A. Meltz received a grant of options to purchase 50,000 shares of common stock on February 10, 2026. The options have an exercise price of $23.71 per share and are held directly by him.

According to the vesting schedule, 12.5% of the shares subject to the option become vested and exercisable six months after February 9, 2026. The remaining shares vest in equal monthly installments of 1/48 of the total, so the option becomes fully vested over four years, contingent on his 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

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^*

Meltz Mark A

(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)
	General Counsel

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

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).
** 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 Lyell Immunopharma (LYEL) report in this Form 4 filing?

Lyell Immunopharma reported that its General Counsel, Mark A. Meltz, received a grant of stock options covering 50,000 shares of common stock. The options were granted on February 10, 2026, and are documented as a derivative security transaction on this Form 4.

How many stock options did Lyell Immunopharma (LYEL) grant to its General Counsel?

Lyell Immunopharma granted its General Counsel, Mark A. Meltz, options to acquire 50,000 shares of common stock. These options are reported as directly owned and represent a single derivative grant under the company’s equity compensation arrangements, subject to a defined multi-year vesting schedule tied to continued service.

What is the exercise price of the options reported for Lyell Immunopharma (LYEL)?

The options granted to Lyell Immunopharma’s General Counsel carry an exercise price of $23.71 per share. This price is the amount payable to purchase each underlying share of common stock if and when the options are exercised, assuming the options have vested under the specified schedule.

How do the Lyell Immunopharma (LYEL) options granted to the General Counsel vest?

Twelve and one-half percent of the option shares vest six months after February 9, 2026. After that, an additional one-forty-eighth of the total shares vests monthly on the same calendar day, until all 50,000 shares are vested, subject to continued service to the company.

When do the Lyell Immunopharma (LYEL) General Counsel options expire?

The options granted to Lyell Immunopharma’s General Counsel expire on February 9, 2036. After this expiration date, any unexercised portion of the 50,000-share option award can no longer be exercised, regardless of vesting status, as indicated in the derivative securities table.

Is the Lyell Immunopharma (LYEL) General Counsel’s option grant reported as direct or indirect ownership?

The 50,000 stock options reported for Lyell Immunopharma’s General Counsel are listed as directly owned. The filing shows an ownership code of “D” for direct ownership, with no indication of indirect holding through trusts, family entities, or similar structures in the provided data.