A Form 4 filed on September 10, 2026 discloses that Martine Zimmermann, a director of Candel Therapeutics, Inc. (NASDAQ:CADL), was granted a stock option on September 8, 2026 to purchase 64,000 shares of common stock at an exercise price of $12.60 per share.

Key Highlights

  • Reporting person: Martine Zimmermann, identified as a Director of Candel Therapeutics, Inc.
  • Option grant: 64,000 shares of common stock acquired via a stock option (right to buy), transaction code A (acquired), dated September 8, 2026.
  • Exercise price: $12.60 per share, with the option expiring on September 8, 2036.
  • Price paid: $0 for the derivative security at the time of grant.
  • Vesting schedule: The option vests in 36 equal monthly installments, subject to continued service on each vesting date, according to the filing.
  • Beneficial ownership following transaction: 64,000 derivative securities held directly.

Zimmermann Option Grant Details at Candel Therapeutics

According to the filing, Martine Zimmermann received a stock option granting her the right to buy 64,000 shares of Candel Therapeutics common stock at $12.60 per share. The transaction date is listed as September 8, 2026, and the option carries an expiration date of September 8, 2036. The form was filed on September 10, 2026, and signed by Charles Schoch as Attorney-In-Fact for Martine Zimmermann.

The filing reports the price of the derivative security at grant as $0, and the option is classified as directly owned. As noted in the explanation of responses, "The shares underlying this option shall vest and become exercisable in thirty-six (36) equal monthly installments, subject to the Reporting Person's continued service on each such vesting date." Following the reported transaction, Zimmermann's total beneficial ownership of this derivative security is listed as 64,000 shares.

No non-derivative securities transactions were reported in Table I of the filing. The form was filed by one reporting person and is not indicated as an amendment to a prior filing.

What Was Disclosed

The filing reports a single stock option acquisition by Director Martine Zimmermann of Candel Therapeutics, covering 64,000 shares of common stock at a $12.60 exercise price, vesting monthly over 36 installments, with a 10-year term expiring September 8, 2036.