Lee Gary K. 4

What Happened

• Gary K. Lee, Chief Scientific Officer of Lyell Immunopharma (LYEL), sold 130 shares on May 11, 2026. The weighted-average sale price was $18.92, yielding approximately $2,460. The filing indicates the shares were sold automatically to cover tax withholding from vested restricted stock units (RSUs), a routine corporate action rather than a discretionary market-timing sale.

Key Details

• Transaction date: 2026-05-11; Filing date (Form 4): 2026-06-15 (filed late; Form 4s are normally due within 2 business days).
• Sale type/code: S (open market or private sale); weighted-average price reported $18.92; actual prices in the sale ranged from $18.91 to $19.30 (filing offers to provide per-price breakdown on request).
• Shares sold: 130; proceeds: ~$2,460.
• Reason for sale (footnote): F1 — Automatic sale to cover tax withholding on vested RSUs.
• Additional note (footnote F3): The filing also notes 1,000 shares were acquired on May 18, 2026 under the company’s 2021 Employee Stock Purchase Plan (ESPP).
• Shares owned after transaction: Not specified in the provided filing details.
• Timeliness: Marked late (transactionTimeliness = 'L'); late filing can be an administrative issue but is important for transparency.

Context

• This was a tax-withholding sale tied to RSU vesting (F code commonly used for withholding). Such automatic sales are routine and do not necessarily signal insider sentiment about the company’s outlook.
• For retail investors, purchases typically carry more informational weight than routine withholding sales. The small dollar value here ($~2.5k) and the stated tax purpose indicate this was administrative rather than a strategic disposal.