Meltz Mark A 4

What Happened Mark A. Meltz, General Counsel of Lyell Immunopharma (LYEL), received a derivative award recorded on 2026-02-10 covering 50,000 shares (transaction code A). The reported acquisition price is $0.00 (a grant/award of an option or similar derivative rather than an open‑market purchase). This grant does not represent an immediate sale or purchase of shares — Meltz must vest and, if options, exercise them before becoming a holder of common stock.

Key Details

• Transaction date: February 10, 2026; Form 4 filed February 11, 2026 (appears timely).
• Transaction type: Grant / award of a derivative (SEC code A).
• Shares/units granted: 50,000 (derivative instrument).
• Reported acquisition price: $0.00.
• Vesting (per footnote): 12.5% of the award vests and becomes exercisable six months after February 9, 2026 (i.e., Aug 9, 2026). Thereafter, an additional one‑forty‑eighth (1/48th) of the shares will vest monthly until the award is 100% vested, subject to Meltz providing service through each vesting date.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote clarifies this is an option award (vested amounts become exercisable); exercise price is not shown in the excerpt.

Context This is a standard equity compensation grant for an executive — not an open‑market buy or sale. Derivative grants like options only deliver economic value if the company’s stock exceeds the option exercise price (which isn’t listed here) and after required vesting and any exercise. Such awards are common for retention and incentive purposes and do not by themselves indicate insider buying or selling intent.