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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1841387	Candel Therapeutics Inc.	CADL	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1618364	Garrett William Nichols	C/O Candel Therapeutics, Inc. 117 Kendrick St., Suite 450 Needham MA 02494	Chief Medical Officer	No	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2025-03-18	4,584	$3.75	83,904	No	4	M	Direct
Common Stock	Acquisiton	2025-03-18	13,905	$1.29	97,809	No	4	M	Direct
Common Stock	Disposition	2025-03-18	45,316	$8.76	52,493	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Option (Right to Buy)	Disposition	2025-03-18	4,584	$0.00	4,584	$3.75
Common Stock	Stock Option (Right to Buy)	Disposition	2025-03-18	13,905	$0.00	13,905	$1.29

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
195,416		2032-09-12	No	4	M	Direct
31,095		2033-04-28	No	4	M	Direct

Footnotes

This transaction reported on this Form 4 was effected pursuant to a 10b5-1 trading plan adopted on 11/22/2024.
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.
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.
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.