Joseph C. Papa - Jun 28, 2023 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role: Director
Signature: /s/ Jason A. Amello, as Attorney-In-Fact for Joseph C. Papa
Stock symbol: CADL
Transactions as of: Jun 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/29/2023, 09:00 AM
Previous filing: Jun 16, 2023
Next filing: Feb 29, 2024

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	+14.2K		$0.00	14.2K	Jun 28, 2023	Common Stock	14.2K	$1.22	Direct	F1

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

Explanation of Responses:

Id	Content
F1	This option is subject to time-based vesting. The shares underlying this option shall vest and become exercisable upon the earlier of (i) June 28, 2024 or (ii) the date of the next Annual Meeting of Stockholders of the Issuer; provided, however, that all vesting shall cease if the Reporting Person resigns from the Board of Directors (the "Board") of the Issuer or otherwise ceases to serve as a director, unless the Board determines that the circumstances warrant continuation of vesting.

Content

This option is subject to time-based vesting. The shares underlying this option shall vest and become exercisable upon the earlier of (i) June 28, 2024 or (ii) the date of the next Annual Meeting of Stockholders of the Issuer; provided, however, that all vesting shall cease if the Reporting Person resigns from the Board of Directors (the "Board") of the Issuer or otherwise ceases to serve as a director, unless the Board determines that the circumstances warrant continuation of vesting.