CATHY FRIEDMAN - 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, 18:47:00 UTC
Previous filing: 17 Jun 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
FRIEDMAN CATHY	Director	C/O LYELL IMMUNOPHARMA, INC., 201 HASKINS WAY, SUITE 101, SOUTH SAN FRANCISCO	/s/ Charles Newton, as Attorney-in-Fact	19 May 2025	0001411874

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LYEL	Common Stock						236,370	15 May 2025	MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST	F1
holding	LYEL	Common Stock						100,000	15 May 2025	The Duane Irrevocable Trust 2020	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	LYEL	Option (right to buy)	Award	$0	+130,000		$0.000000	130,000	15 May 2025	Common Stock	130,000	$0.4017	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The Reporting Person is a trustee of MSL FBO J DUANE & C FRIEDMAN TTEE DUANE FAMILY TRUST ("Duane Family Trust") and therefore may be deemed to share the power to direct the disposition and vote of the shares held by the Duane Family Trust. The Reporting Person disclaims beneficial ownership of all shares held by Duane Family Trust except to any pecuniary interest therein.
F2	The Reporting Person is a trustee of The Duane Irrevocable Trust 2020 ("Duane Irrevocable Trust") and therefore may be deemed to share the power to direct the disposition and vote of the shares held by the Duane Irrevocable Trust. The Reporting Person disclaims beneficial ownership of all shares held by Duane Irrevocable Trust except to any pecuniary interest therein.
F3	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.