Candel Therapeutics granted inducement stock options to newly appointed Chief Commercial Officer Mark Sims. The options allow the purchase of 285,000 shares of common stock at an exercise price of $10.03 per share, matching the July 6, 2026 closing price on Nasdaq. The award vests 25% on the first anniversary of Mr. Sims' start date, with the remaining 75% vesting in 36 equal monthly installments thereafter, contingent on his continued service. The grant was made under the company's 2025 Inducement Plan as an employment inducement in accordance with Nasdaq Listing Rule 5635(c)(4).
Candel Therapeutics IncGrant of inducement stock options to new CCO; aligns incentives but dilutive; no direct business impact.