Francesca Barone - Mar 18, 2025 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role
Chief Scientific Officer
Signature
/s/ Charles Schoch, as Attorney-in-Fact for Francesca Barone
Stock symbol
CADL
Transactions as of
Mar 18, 2025
Transactions value $
-$253,773
Form type
4
Date filed
3/20/2025, 04:36 PM
Previous filing
Feb 14, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CADL Common Stock Options Exercise $27.9K +18K +16.26% $1.55 129K Mar 18, 2025 Direct F1
transaction CADL Common Stock Sale -$282K -32.1K -24.98% $8.76 96.5K Mar 18, 2025 Direct 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
transaction CADL Stock Option (Right to Buy) Options Exercise $0 -18K -36.87% $0.00 30.8K Mar 18, 2025 Common Stock 18K $1.55 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 11/22/2024.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.345 to $9.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote 2 herein.
F3 25% of the shares underlying this option vested and became exercisable on December 30, 2021, with the remainder vesting in thirty-six equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.