Cathy Friedman - Sep 8, 2023 Form 4 Insider Report for Lyell Immunopharma, Inc. (LYEL)

Role
Director
Signature
/s/ Charles Newton, as Attorney-in-Fact
Stock symbol
LYEL
Transactions as of
Sep 8, 2023
Transactions value $
$0
Form type
4
Date filed
9/8/2023, 05:26 PM
Previous filing
Jun 20, 2023
Next filing
Jun 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LYEL Common Stock 236K Sep 8, 2023 MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST F1
holding LYEL Common Stock 100K Sep 8, 2023 The Duane Irrevocable Trust 2020 F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LYEL Option (right to buy) Award $0 +55K $0.00 55K Sep 8, 2023 Common Stock 55K $3.19 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in a pro-rata distribution from Lyell Investors, LLC. 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.
F2 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.
F3 On September 6, 2023, to align with benchmarking data, the issuer's Compensation Committee amended the Non-Employee Director Compensation Policy to increase the annual equity grant to non-employee directors. The Reporting Person was granted an option to purchase 65,000 shares on June 16, 2023, prior to the amendment of the policy. This additional option grant aligns the Reporting Person's total 2023 grants with the updated policy.
F4 The option shares shall vest on the earlier of (a) the date of the next annual meeting of the stockholders that occurs following June 16, 2023 (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 re-elected or the Reporting Person not standing for re-election); or (b) the first anniversary of June 16, 2023, subject to the Reporting Person providing continuous service through such date