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

Role
10%+ Owner
Signature
/s/ John Canepa, Attorney-in-Fact
Stock symbol
CADL
Transactions as of
May 6, 2022
Transactions value $
$0
Form type
4
Date filed
5/10/2022, 06:07 PM
Previous filing
Aug 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CADL Common Stock Options Exercise $250K +171K +18.4% $1.46 1.1M May 6, 2022 Direct F1
transaction CADL Common Stock Tax liability -$250K -68.5K -6.22% $3.65 1.03M May 6, 2022 Direct F1, F2
holding CADL Common Stock 2.01M May 6, 2022 By Laura K. Aguilar 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 -17.9K -100% $0.00* 0 May 6, 2022 Common Stock 17.9K $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 -76.7K -100% $0.00* 0 May 6, 2022 Common Stock 76.7K $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 Laura K. Aguilar 2020 Irrevocable Trust. The Reporting Person disclaims beneficial ownership of these shares except to the extent of her 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.