JOSEPH C. PAPA - 17 Jun 2025 Form 4 Insider Report for Candel Therapeutics, Inc. (CADL)

Role: Director
Signature: /s/ Charles Schoch, as Attorney-In-Fact for Joseph C. Papa
Issuer symbol: CADL
Transactions as of: 17 Jun 2025
Transactions value $: $0
Form type: 4
Filing time: 18 Jun 2025, 08:32:30 UTC
Previous filing: 12 Jun 2025
Next filing: 26 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
PAPA JOSEPH C	Director	C/O CANDEL THERAPEUTICS, INC., 117 KENDRICK ST., SUITE 450, NEEDHAM	/s/ Charles Schoch, as Attorney-In-Fact for Joseph C. Papa	18 Jun 2025	0001242215

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	+14,240		$0.000000	14,240	17 Jun 2025	Common Stock	14,240	$4.94	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 17, 2026 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 17, 2026 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.