Shah Smital 4

What Happened
Smital Shah, Chief Financial and Business Officer of Lyell Immunopharma (LYEL), received a grant/award of 140,000 derivative shares (reported at $0.00 per share) on March 9, 2026. This filing records an equity award (derivative) rather than a cash purchase or sale—no cash was paid at grant.

Key Details

• Transaction date: 2026-03-09; Filing date: 2026-03-16. (Form 4 was filed seven days after the transaction date, which is outside the typical two-business-day reporting window.)
• Grant type: Reported as "A" (grant/award/acquisition) of 140,000 derivative shares at $0.00 per share.
• Vesting (footnote): 25% vests on March 9, 2027; the remaining 75% vests in equal monthly installments over the following 36 months, contingent on continued service.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• No indication in the filing of immediate sale, tax withholding, or a 10b5-1 plan.

Context
This was an equity compensation award (commonly options or restricted stock units) intended to incentivize and retain the executive; the multi-year vesting schedule means the shares are not immediately tradable by the insider. Such grants are routine for executives and do not, by themselves, indicate buying or selling sentiment in the open market.