William Garrett Nichols - 12 Sep 2022 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role: Chief Medical Officer
Signature: /s/ John Canepa, as Attorney-In-Fact for William Garrett Nichols
Issuer symbol: CADL
Transactions as of: 12 Sep 2022
Net transactions value: $0
Form type: 4
Filing time: 14 Sep 2022, 17:05:12 UTC
Next filing: 30 Nov 2022
SEC: View on sec.gov

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)	Award	$0	+200,000		$0.000000	200,000	12 Sep 2022	Common Stock	200,000	$3.75	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The first 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on September 12, 2023, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date. The remaining 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on the first anniversary of the date in which the Reporting Person converts to a full-time employee, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.

Content

The first 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on September 12, 2023, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date. The remaining 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on the first anniversary of the date in which the Reporting Person converts to a full-time employee, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.