William Garrett Nichols - 18 Mar 2025 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role
Chief Medical Officer
Signature
/s/ Charles Schoch, as Attorney-in-Fact for William Garrett Nichols
Issuer symbol
CADL
Transactions as of
18 Mar 2025
Net transactions value
-$361,868
Form type
4
Filing time
20 Mar 2025, 16:36:22 UTC
Previous filing
14 Feb 2025
Next filing
02 Jul 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 $17,190 +4,584 +5.8% $3.75 83,904 18 Mar 2025 Direct F1
transaction CADL Common Stock Options Exercise $17,937 +13,905 +17% $1.29 97,809 18 Mar 2025 Direct F1
transaction CADL Common Stock Sale $396,995 -45,316 -46% $8.76 52,493 18 Mar 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 -4,584 -2.3% $0.000000 195,416 18 Mar 2025 Common Stock 4,584 $3.75 Direct F1, F3
transaction CADL Stock Option (Right to Buy) Options Exercise $0 -13,905 -31% $0.000000 31,095 18 Mar 2025 Common Stock 13,905 $1.29 Direct F1, F4
* 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 $8.36 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 The first 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on September 12, 2023, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date. The remaining 100,000 shares underlying this option shall vest as follows: 25% shall vest and become exercisable on the first anniversary of the date in which the Reporting Person converts to a full-time employee, with the remainder vesting in thirty-six (36) equal monthly installments thereafter, subject to the Reporting Person's continued service on each such vesting date.
F4 This option is subject to time-based vesting. The shares underlying this option shall vest and become exercisable in forty-eight (48) equal monthly installments following April 28, 2023, subject to the Reporting Person's continued service on each vesting date.