Form 4: Lyell Immunopharma CSO Executes Routine Tax-Related Sale
Statement of Changes in Beneficial Ownership
Chief Scientific Officer Gary K. Lee sold 130 shares of Lyell Immunopharma to satisfy tax withholding obligations.
Summary
- Gary K. Lee, Chief Scientific Officer of Lyell Immunopharma, Inc., sold 130 shares of common stock.
- The transaction occurred on May 11, 2026, at a weighted average price of $18.92 per share.
- The sale was conducted automatically to cover tax withholding obligations related to the settlement of vested restricted stock units.
- Following the transaction, the reporting person maintains beneficial ownership of 17,808 shares.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a routine administrative action related to tax obligations rather than a discretionary market move.
Positives
- The sale was non-discretionary and executed solely to satisfy tax obligations, indicating no change in long-term investment sentiment.
Negatives
- Reduction in direct equity holdings by a key executive.
Risks
- Market volatility affecting the value of equity-based compensation.
Future Outlook
No specific forward-looking guidance provided in this filing.
Management Comments
- The sale was executed automatically to cover tax withholding obligations from the settlement of vested restricted stock units.
Industry Context
StockSavvy.ai notes that automatic sell-to-cover transactions are standard practice in the biotechnology sector for executives receiving equity-based compensation and do not typically signal a change in corporate strategy or outlook.
Comparison to Industry Standards
- The transaction aligns with standard corporate governance practices for executive tax compliance in the U.S. biotech industry.
- The use of automatic sell-to-cover plans is consistent with practices at peer companies like Gilead Sciences or Amgen.
Stakeholder Impact
- Minimal impact on shareholders as the transaction was small and non-discretionary.
Next Steps
- No future actions or milestones mentioned.
Key Dates
| Date | Description |
|---|---|
| 05/11/2026 | Date of the reported stock sale transaction. |
| 05/18/2026 | Date of acquisition of 1,000 shares under the Employee Stock Purchase Plan. |
| 06/15/2026 | Date of filing of the Form 4. |
Keywords
Lyell Immunopharma, LYEL, Insider Trading, Form 4, Biotech, Executive Compensation
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