Benz Edward J. JR 4

What Happened Edward J. Benz Jr., a director of Candel Therapeutics (CADL), received a derivative award on June 23, 2026 covering 32,000 shares. The Form 4 reports the grant as an acquisition (transaction code A) with a reported price of $0.00 (derivative instrument), indicating an option-style award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-23; filing date: 2026-06-24 (timely filing).
• Security: derivative (option/award) for 32,000 shares; reported price $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: the option vests upon the earlier of (i) June 23, 2027 or (ii) the next Annual Meeting; vesting stops if the reporting person resigns or ceases to serve as a director unless the Board decides otherwise.
• Transaction code: A = Award/Grant (not a purchase or sale of common stock).

Context This filing documents a compensation-related option grant to a non-employee director. It is not an exercise or sale—there was no immediate cash transaction or disposition reported. Time-based vesting means the shares/options will only become exercisable if the director remains on the board (subject to the Board’s discretion in special circumstances). Such grants are common for director compensation and do not, by themselves, indicate buying or selling sentiment.