Richard Klausner - 15 May 2025 Form 4 Insider Report for Lyell Immunopharma, Inc. (LYEL)

Role: Director
Signature: /s/ Charles Newton, as Attorney-in-Fact
Issuer symbol: LYEL
Transactions as of: 15 May 2025
Net transactions value: $0
Form type: 4
Filing time: 19 May 2025, 18:50:18 UTC
Previous filing: 18 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Klausner Richard	Director	C/O LYELL IMMUNOPHARMA, INC., 201 HASKINS WAY, SUITE 101, SOUTH SAN FRANCISCO	/s/ Charles Newton, as Attorney-in-Fact	19 May 2025	0001591178

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LYEL	Common Stock						2,967,834	15 May 2025	Direct
holding	LYEL	Common Stock						843,365	15 May 2025	Grantor and Trustee	F1

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	LYEL	Option (right to buy)	Award	$0	+130,000		$0.000000	130,000	15 May 2025	Common Stock	130,000	$0.4017	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Consists of 158,000 shares held by The Klausner Family Revocable Trust of May 8, 2014, 245,515 shares held by The Ariella Klausner Delaware Trust, 194,335 shares held by The Eli Klausner Delaware Trust and 245,515 shares held by The Olivia Klausner Delaware Trust (collectively, The Ariella Klausner Delaware Trust, The Eli Klausner Delaware Trust and The Olivia Klausner Delaware Trust, the "Delaware Trusts"). The Reporting Person is grantor and trustee of The Klausner Family Revocable Trust of May 8, 2014 and grantor of each of the Delaware Trusts. The JTC Trust Company (Delaware) Limited is the trustee of each of the Delaware Trusts. The Reporting Person disclaims beneficial ownership of all shares held by the Delaware Trusts except to any pecuniary interest therein
F2	The option shares shall vest on the earlier of (a) the date of the next annual meeting of the stockholders that occurs following May 15, 2025 (or the date immediately prior to such date if the Reporting Person's service as a director ends at such annual meeting due to the Reporting Person's failure to be reelected or the Reporting Person not standing for re-election); or (b) the first anniversary of May 15, 2025, subject to the Reporting Person providing continuous service through such date.

Content

Consists of 158,000 shares held by The Klausner Family Revocable Trust of May 8, 2014, 245,515 shares held by The Ariella Klausner Delaware Trust, 194,335 shares held by The Eli Klausner Delaware Trust and 245,515 shares held by The Olivia Klausner Delaware Trust (collectively, The Ariella Klausner Delaware Trust, The Eli Klausner Delaware Trust and The Olivia Klausner Delaware Trust, the "Delaware Trusts"). The Reporting Person is grantor and trustee of The Klausner Family Revocable Trust of May 8, 2014 and grantor of each of the Delaware Trusts. The JTC Trust Company (Delaware) Limited is the trustee of each of the Delaware Trusts. The Reporting Person disclaims beneficial ownership of all shares held by the Delaware Trusts except to any pecuniary interest therein

The option shares shall vest on the earlier of (a) the date of the next annual meeting of the stockholders that occurs following May 15, 2025 (or the date immediately prior to such date if the Reporting Person's service as a director ends at such annual meeting due to the Reporting Person's failure to be reelected or the Reporting Person not standing for re-election); or (b) the first anniversary of May 15, 2025, subject to the Reporting Person providing continuous service through such date.