Manning Paul B 4

What Happened

• Paul B. Manning, a director of Candel Therapeutics (CADL), was granted 2,199 shares as an award (derivative acquisition) on 2026-06-30. The reported per-share value is $8.64, for a total reported value of $18,997. This award was granted in lieu of his normal quarterly cash payment and was fully vested at the time of grant, so it represents an immediate acquisition of shares rather than a market purchase or sale.

Key Details

• Transaction date: 2026-06-30; Filing date: 2026-07-01 (filed the next day).
• Instrument/type: Award/Grant (transaction code A); classified as a derivative acquisition in the filing.
• Shares granted: 2,199 at $8.64 each; total value reported $18,997.
• Vesting/terms: Fully vested at grant (footnote F1: awarded in lieu of quarterly cash payment).
• Shares owned after transaction: Not disclosed in this filing.
• No indication of a 10b5-1 plan, tax withholding, or late filing in the disclosure.

Context

• This was a compensation award (paid in stock instead of cash) and not an open‑market purchase or sale. Because the award was fully vested on grant, Manning immediately acquired the economic interest in the shares, subject to any company trading restrictions or blackout periods. Such grants are common for directors and are routine compensation; they do not necessarily signal a personal buying/selling decision.