Lee Gary K. 4
4 · Lyell Immunopharma, Inc. · Filed Nov 20, 2023
Insider Transaction Report
Form 4
Lee Gary K.
Chief Scientific Officer
Transactions
- Award
Stock Option (right to buy)
2023-11-16+800,000→ 800,000 totalExercise: $1.87Exp: 2032-02-10→ Common Stock (800,000 underlying) - Disposition to Issuer
Stock Option (right to buy)
2023-11-16−800,000→ 0 totalExercise: $6.04Exp: 2032-02-10→ Common Stock (800,000 underlying)
Holdings
- 12,700
Common Stock
Footnotes (5)
- [F1]Includes 4,702 shares acquired on November 18, 2022, 6,205 shares acquired on May 18, 2023 and 1,793 shares acquired on November 17, 2023 under the Issuer's 2021 Employee Stock Purchase Plan.
- [F2]350,000 shares were vested as of November 16, 2023 and the remaining unvested shares will vest in equal monthly installments over the following thirty-nine months based on the original vesting commencement date.
- [F3]The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on November 16, 2023 (the "Repricing Date"). The Option Repricing applies to options with exercise prices greater than $2.37 per share held by all continuing employees of the Issuer as of the Repricing Date.
- [F4]Pursuant to the Option Repricing, the exercise price of the repriced options, including the Option, has been amended to reduce the exercise price to $1.87 per share, the closing price of the Issuer's common stock on the Repricing Date. However, if an employee exercises a repriced option before the end of a retention period of one year (subject to earlier termination in certain circumstances), such employee will be required to pay the original exercise price per share of such repriced option. In addition, the vesting schedule for the unvested shares underlying repriced options held by executive officers, including the reporting person, was extended for an additional year. There is no change to the expiration dates of or number of shares underlying the repriced options.
- [F5]1/4 of the option shares vested on January 31, 2023, with the remaining option shares vesting in equal monthly installments over the following thirty-six months.