FRIEDMAN CATHY 4
4 · Lyell Immunopharma, Inc. · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
Lyell (LYEL) Director Cathy Friedman Receives 9,250-Share Award
What Happened
Cathy Friedman, a director of Lyell Immunopharma, was granted 9,250 derivative shares (reported as an acquisition/award) on June 10, 2026. The grant was recorded at $0.00 per share (no cash paid); the filing does not state a market value. The award vests either at the next annual meeting after June 10, 2026 or on the first anniversary of the grant, subject to continued service.
Key Details
- Transaction date: 2026-06-10; Form 4 filed: 2026-06-12 (timely filing).
- Transaction type/code: A (award/grant of derivative securities). Price reported: $0.00 per share.
- Shares granted: 9,250 derivative shares. Total cash paid: $0.00. Market value not stated in the filing.
- Vesting (per footnote): vests on earlier of next annual meeting after June 10, 2026 (or immediately prior if service ends due to non-re-election) or the first anniversary of June 10, 2026, subject to continuous service.
- Reverse split note: All share amounts reflect a 1-for-20 reverse stock split effective May 30, 2025.
- Ownership disclosure: The filing includes trustee disclaimers—Friedman is trustee for two family trusts and disclaims beneficial ownership of trust-held shares except for any pecuniary interest.
- Shares owned after transaction: not specified in the excerpt.
Context
This was an equity award (derivative grant), not a cash purchase or sale; such grants are common for board compensation. The award vests over time and therefore does not equate to immediate saleable shares unless vesting conditions are met. The filing was made within the typical Form 4 reporting window (no late filing flag).
Insider Transaction Report
- Award
Option (right to buy)
[F4]2026-06-10+9,250→ 9,250 totalExercise: $13.22Exp: 2036-06-09→ Common Stock (9,250 underlying)
- 11,818(indirect: By Trust)
Common Stock
[F1][F2] - 5,000(indirect: By Trust)
Common Stock
[F1][F3]
Footnotes (4)
- [F1]On May 30, 2025, the Issuer effected a 1-for-20 reverse stock split of its common stock. All share and amounts reported herein reflect the reverse stock split.
- [F2]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.
- [F3]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.
- [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 10, 2026 (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 reelected or the Reporting Person not standing for re-election); or (b) the first anniversary of June 10, 2026, subject to the Reporting Person providing continuous service through such date.