Lee Gary K. 4
4 · Lyell Immunopharma, Inc. · Filed Feb 11, 2026
Research Summary
AI-generated summary of this filing
Lyell (LYEL) CSO Gary K. Lee Receives 54,000-Share Awards
What Happened Gary K. Lee, Chief Scientific Officer of Lyell Immunopharma (LYEL), received awards totaling 54,000 shares (4,000 shares issued and a separate 50,000-share award recorded) and sold 147 shares in an open-market-type transaction. The 4,000 shares were issued on Feb 9, 2026 upon certification of performance-based RSUs; the 50,000-share award (recorded Feb 10, 2026) is listed as a derivative/award subject to vesting. The 147 shares were disposed of on Feb 10, 2026 at $23.12 each for proceeds of $3,399 — the filing notes the sale was to cover tax withholding on vested RSUs.
Key Details
- Transaction dates and prices:
- Feb 9, 2026: 4,000 shares issued (award) at $0.00 (performance-based RSUs certified and settled).
- Feb 10, 2026: 147 shares sold at $23.12 each, proceeds $3,399 (automatic sale to cover taxes).
- Feb 10, 2026: 50,000-share award recorded at $0.00 (derivative/subject to vesting).
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Relevant footnotes:
- F1: 4,000 shares were performance-based RSUs granted Feb 9, 2024 and issued upon achievement of performance criteria certified on Feb 9, 2026.
- F2: Ownership totals include 390 shares from the 2021 Employee Stock Purchase Plan (acquired Nov 18, 2025).
- F3: The 147-share sale was an automatic sale to satisfy tax withholding from RSU settlement.
- F4: The derivative award is subject to vesting: 12.5% vests six months after Feb 9, 2026, then 1/48th vests monthly thereafter, subject to continued service.
- Filing: Report filed Feb 11, 2026 (appears timely relative to the Feb 9–10 transactions).
Context
- The 147-share sale was a tax-withholding/cashless-type disposition tied to RSU settlement — a routine administrative sale rather than a directional bet on the stock.
- The larger items are awards/derivatives (54,000 shares total recorded), not open-market purchases. The 50,000-share award will vest over time per the schedule in F4 and requires continued service.
- These filings are factual disclosures of insider transactions and do not, by themselves, indicate insider sentiment or a trading strategy.
Insider Transaction Report
Form 4
Lee Gary K.
Chief Scientific Officer
Transactions
- Award
Common Stock
[F1][F2]2026-02-09+4,000→ 18,756 total - Sale
Common Stock
[F3]2026-02-10$23.12/sh−147$3,399→ 18,609 total - Award
Option (right to buy)
[F4]2026-02-10+50,000→ 50,000 totalExercise: $23.71Exp: 2036-02-09→ Common Stock (50,000 underlying)
Footnotes (4)
- [F1]Pursuant to performance-based restricted stock units granted to the reporting person on February 9, 2024, 4,000 shares were issued on the Transaction Date upon the achievement of certain performance criteria certified by the compensation committee of the Issuer's board of directors on the Transaction Date.
- [F2]Includes 390 shares acquired on November 18, 2025 under the Issuer's 2021 Employee Stock Purchase Plan.
- [F3]Shares automatically sold to cover tax withholding obligation from settlement of vested restricted stock units.
- [F4]Twelve and one-half percent (12.5%) of the total number of shares of Common Stock subject to the option will be vested and exercisable on the date that is six (6) months after February 9, 2026 (the "Vesting Commencement Date") and thereafter, an additional one fortyeighth (1/48th) of the shares will become vested and exercisable monthly on the same day as the Vesting Commencement Date (or, if there is no such corresponding day for a given month, on the last day of such month), until the option has become vested and exercisable with respect to one hundred percent (100%) of the shares, subject to the Reporting Person providing service to the Issuer through each applicable vesting date.
Signature
/s/ Mark Meltz, Attorney-in-Fact|2026-02-11