Short answer
Lyell Immunopharma Inc (LYEL) filed an 8-K current report with the SEC on March 9, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Smital Shah appointed CFO & Chief Business Officer effective March 9, 2026; replaces interim CFO role held by CEO Lynn Seely.
Lyell Immunopharma Inc 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Smital Shah appointed CFO & Chief Business Officer effective March 9, 2026; replaces interim CFO role held by CEO Lynn Seely
- Base salary $500,000 with target bonus up to 50% of base ($250,000), totaling up to $750,000 in annual cash comp
- Stock option grant of 140,000 shares at market-price exercise; 25% vests at year one, remainder monthly over 48 months
- Shah brings relevant biotech CFO experience: 8 years as Chief Business & Financial Officer at ProQR Therapeutics (Nasdaq: PRQR) and prior capital markets roles at Gilead, Leerink, and JP Morgan
- Designated Tier I Employee under Officer Severance Plan, signaling meaningful termination protections typical of C-suite executives
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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