Estuardo Aguilar-Cordova - May 6, 2022 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role
Director, 10%+ Owner
Signature
/s/ John Canepa, Attorney-in-Fact
Stock symbol
CADL
Transactions as of
May 6, 2022
Transactions value $
-$3
Form type
4
Date filed
5/10/2022, 06:04 PM
Previous filing
Aug 2, 2021
Next filing
Oct 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CADL Common Stock Options Exercise $197K +135K +13.31% $1.46 1.15M May 6, 2022 Direct F1
transaction CADL Common Stock Tax liability -$197K -54.1K -4.7% $3.65 1.1M May 6, 2022 Direct F1, F2
holding CADL Common Stock 2.07M May 6, 2022 By Estuardo Aguilar-Cordova 2020 Irrevocable Trust F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CADL Stock Option (Right to Buy) Options Exercise $0 -12.2K -100% $0.00* 0 May 6, 2022 Common Stock 12.2K $1.46 Direct F4
transaction CADL Stock Option (Right to Buy) Options Exercise $0 -76.7K -100% $0.00* 0 May 6, 2022 Common Stock 76.7K $1.46 Direct F4
transaction CADL Stock Option (Right to Buy) Options Exercise $0 -46.3K -60.3% $0.00 30.5K May 6, 2022 Common Stock 46.3K $1.46 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 32,399 shares of common stock held jointly with spouse.
F2 Represents a net exercise of outstanding stock options. These shares were resold to the Issuer as payment of the exercise price, based on the closing price of the Issuer's common stock on May 5, 2022 of $3.65 per share.
F3 Shares held by the Estuardo Aguilar-Cordova 2020 Irrevocable Trust. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, if any.
F4 This option is fully vested and exercisable as of the date hereof.
F5 Includes options that were previously subject to performance vesting criteria. Upon the Reporting Person's termination as an officer of the Issuer, the vesting conditions were waived, and the shares underlying this option became fully vested and exercisable.