Charles W. Newton - Jun 16, 2021 Form 3 Insider Report for Lyell Immunopharma, Inc. (LYEL)

Role: Chief Financial Officer
Signature: /s/ Heather 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, 07:21 PM
Next filing: Mar 18, 2022

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

Type	Sym	Class	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	LYEL	Option (right to buy)	Jun 16, 2021	Common Stock	3.61M	$6.24	Direct	F1
holding	LYEL	Option (right to buy)	Jun 16, 2021	Common Stock	190K	$6.24	Direct	F1
holding	LYEL	Option (right to buy)	Jun 16, 2021	Common Stock	516K	$6.24	Direct	F2

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

Explanation of Responses:

Id	Content
F1	1/4 of the option shares shall vest on February 5, 2022, with the remaining option shares to vest in equal monthly installments over the following thirty-six months.
F2	The shares subject to the Option will commence vesting upon the consummation of the Issuer's first underwritten public offering of its Common Stock under the Securities Act of 1933, as amended (the "Vesting Start Date"), and: (a) prior to the Vesting Start Date, none of the shares will be vested; (b) one forty-eighth (1/48th) of the shares subject to the option will vest on the one (1) month anniversary of the Vesting Start Date; and (c) thereafter, the option will become vested and exercisable with respect to an additional 1/48th of the shares thereafter on the same day of the month of the Vesting Start Date.

Content

1/4 of the option shares shall vest on February 5, 2022, with the remaining option shares to vest in equal monthly installments over the following thirty-six months.

The shares subject to the Option will commence vesting upon the consummation of the Issuer's first underwritten public offering of its Common Stock under the Securities Act of 1933, as amended (the "Vesting Start Date"), and: (a) prior to the Vesting Start Date, none of the shares will be vested; (b) one forty-eighth (1/48th) of the shares subject to the option will vest on the one (1) month anniversary of the Vesting Start Date; and (c) thereafter, the option will become vested and exercisable with respect to an additional 1/48th of the shares thereafter on the same day of the month of the Vesting Start Date.