Klausner Richard 4

What Happened

• Richard Klausner, a director of Lyell Immunopharma (LYEL), was granted 9,250 derivative shares (reported as an award) on June 10, 2026. The filing reports an acquisition price of $0.00 for these derivative securities. This is a compensation award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-06-10; Form 4 filed 2026-06-12 (timely).
• Security type: Derivative/award (Form 4 code A); 9,250 shares acquired at $0.00.
• Vesting: The award vests on the earlier of (a) the date of the next annual stockholder meeting following June 10, 2026 (or immediately prior if Klausner’s directorship ends at that meeting), or (b) the first anniversary of June 10, 2026, subject to continuous service (see footnote F3).
• Reported stock holdings in related trusts (per footnote F2): 7,900 shares (Klausner Family Revocable Trust) plus 12,275 + 9,716 + 12,275 shares in three Delaware trusts — totaling 42,166 shares held in those trusts; the Reporting Person disclaims beneficial ownership of the Delaware trusts except for any pecuniary interest.
• Reverse split: A 1-for-20 reverse stock split was effected May 30, 2025; all share amounts reflect that split (footnote F1).

Context

• This was a derivative award (likely stock option/RSU style compensation) that vests over time and does not indicate an immediate sale or purchase in the open market. Such awards are typically compensation for service and should be interpreted differently than insider purchases or sales.