Nichols William Garrett 4

What Happened William Garrett Nichols, Chief Medical Officer of Candel Therapeutics (CADL), received a derivative award recorded as an option for 136,500 shares on January 26, 2026. The grant is reported at a $0.00 price per share on the Form 4, meaning no cash was paid at grant and the award is not an immediate open-market purchase or sale.

Key Details

• Transaction type: Award/Grant (code A) — derivative option for 136,500 shares.
• Transaction date: 2026-01-26; Form 4 filed 2026-01-28 (timely filing).
• Reported price: $0.00 per share (derivative).
• Shares owned after transaction: Not specified in the filing.
• Footnote: The option vests in forty-eight (48) equal monthly installments beginning January 26, 2026, subject to continued service.

Context This is a time‑based option grant, not an exercise or sale—Nichols did not pay cash or sell shares as part of this filing. The award will become exercisable gradually over four years if Nichols remains employed; such grants are common as retention and incentive compensation and do not by themselves signal immediate buying or selling activity.