FRIEDMAN CATHY 4

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).