Ramachandra Sumant 4

What Happened

• Ramachandra Sumant, a director of Lyell Immunopharma (LYEL), received a derivative award of 9,250 shares on 2026-06-10. The grant is reported at a $0.00 price (total reported value $0), and the filing classifies the transaction as an award/acquisition (derivative), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-10; Form 4 filed 2026-06-12 (timely within the 2-business-day window).
• Shares reported acquired: 9,250 derivative shares; reported acquisition price: $0.00.
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes of note:
  • F1: All share amounts reflect a 1-for-20 reverse split effective May 30, 2025.
  • F2: Shares are held by the Sumant Ramachandra Rev Trust DTD 01/24/12; Reporting Person is grantor and trustee.
  • F3: Vesting: the award vests on the earlier of (a) the date of the next annual meeting of stockholders following June 10, 2026 (or immediately prior if service ends due to not being re-elected) or (b) the first anniversary of June 10, 2026, subject to continued service.

Context

• The filing describes a derivative award (commonly stock options or restricted stock units) but does not specify the instrument type or an immediate cash value; $0 reported grant price does not mean the economic value is zero.
• Awards to directors are routine compensation; they are different from open-market purchases (which can be read as a direct bullish signal) and from sales (which may be for liquidity/tax reasons).