Cathy Friedman - Jun 16, 2021 Form 3 Insider Report for Lyell Immunopharma, Inc. (LYEL)

Role
Director
Signature
/s/ Heather D. Turner, as Attorney-in-fact
Stock symbol
LYEL
Transactions as of
Jun 16, 2021
Transactions value $
$0
Form type
3
Date filed
6/16/2021, 07:11 PM
Next filing
Jun 22, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LYEL Common Stock 100K Jun 16, 2021 The Duane Irrevocable Trust 2020 F1, F2

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
holding LYEL Series A Convertible Preferred Stock Jun 16, 2021 Common Stock 3.77M $1.83 Lyell Investors, LLC F3, F4
holding LYEL Option (right to buy) Jun 16, 2021 Common Stock 400K $5.81 Direct F5
holding LYEL Option (right to buy) Jun 16, 2021 Common Stock 250K $5.96 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1/4 of the shares vested on August 1, 2019, with the remaining shares to vest in equal monthly installments over the following thirty-six months.
F2 The Reporting Person is a trustee of The Duane Irrevocable Trust 2020 ("Duane Trust") and therefore may be deemed to share the power to direct the disposition and vote of the shares held by the Duane Trust. The Reporting Person disclaims beneficial ownership of all shares held by Duane Trust except to any pecuniary interest therein.
F3 The Series A Convertible Preferred Stock is convertible at any time, at the Reporting Person's election, has no expiration date, and will automatically convert to shares of the Issuer's Common Stock immediately prior to the closing of the Issuer's initial public offering on a 1-for-1 basis.
F4 The Reporting Person is a member of Lyell Investors, LLC and therefore may be deemed to share the power to direct the disposition and vote of the shares held by Lyell Investors, LLC. The Reporting Person disclaims beneficial ownership of all shares held by Lyell Investors, LLC except to any pecuniary interest therein.
F5 The shares vest in equal monthly installments over the thirty-six months following August 8, 2018. The option provides for an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase.
F6 The shares vest in equal monthly installments over the thirty-six months following January 1, 2021. The option provides for an early-exercise provision and is exercisable as to unvested shares, subject to the Issuer's right of repurchase