PAPA JOSEPH C 4

What Happened
Joseph C. Papa, a director of Candel Therapeutics (CADL), was granted 1,331 shares on 2026-06-30. The award is reported as a derivative acquisition (transaction code A) at $8.64 per share, with a total value of $11,499. The filing notes the underlying award was fully vested at the time of grant and was issued in lieu of normal quarterly cash payments.

Key Details

• Transaction date and price: 2026-06-30 at $8.64 per share; total value ≈ $11,499.
• Transaction type: Award/Grant (code A) — derivative acquisition of shares.
• Vesting / footnote: Award granted in lieu of quarterly cash; underlying award quantity fully vested at grant (F1).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Filing timeliness: Report filed 2026-07-01 (appears timely; Form 4s must generally be filed within two business days).

Context
This was a compensation-related award (paid in shares rather than cash), not an open-market purchase or sale. Because the shares were fully vested at grant, Papa effectively acquired the shares immediately; the award is relatively small in dollar terms (~$11.5k) and is typically routine director compensation rather than a direct market-confidence signal.