<SEC-DOCUMENT>0002095702-25-000002.txt : 20251110
<SEC-HEADER>0002095702-25-000002.hdr.sgml : 20251110
<ACCEPTANCE-DATETIME>20251110210759
ACCESSION NUMBER:		0002095702-25-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20251031
FILED AS OF DATE:		20251110
DATE AS OF CHANGE:		20251110

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Bulis Veronica Sanchez
		CENTRAL INDEX KEY:			0002095702
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40502
		FILM NUMBER:		251468035

	MAIL ADDRESS:	
		STREET 1:		C/O LYELL IMMUNOPHARMA, INC.
		STREET 2:		201 HASKINS WAY, SUITE 101
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lyell Immunopharma, Inc.
		CENTRAL INDEX KEY:			0001806952
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				833006753
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		201 HASKINS WAY
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
		BUSINESS PHONE:		650 695-0677

	MAIL ADDRESS:	
		STREET 1:		201 HASKINS WAY
		CITY:			SOUTH SAN FRANCISCO
		STATE:			CA
		ZIP:			94080
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>form3-11112025_021155.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-10-31</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001806952</issuerCik>
        <issuerName>Lyell Immunopharma, Inc.</issuerName>
        <issuerTradingSymbol>LYEL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002095702</rptOwnerCik>
            <rptOwnerName>Bulis Veronica Sanchez</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LYELL IMMUNOPHARMA, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>201 HASKINS WAY, SUITE 101</rptOwnerStreet2>
            <rptOwnerCity>SOUTH SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94080</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>VP, Corporate Controller</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9452</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>42.60</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2033-02-23</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1674</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>37.40</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2032-03-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>624</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>37.40</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-09-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes restricted stock units (&quot;RSUs&quot;) under the Issuer's 2021 Equity Incentive Plan that are subject to time-based vesting and will be settled in common stock subject to vesting as follows: (1) 38 shares that will vest quarterly over the six-month period following August 9, 2025; (2) 312 shares that will vest quarterly over the eighteen-month period following August 9, 2025; (3) 2,516 shares that vest quarterly over the thirty month period following August 9, 2025 and (4) 3,937 shares that vest quarterly over the forty-two-month period following August 9, 2025; in each case, subject to the reporting person providing service through the applicable vesting date.</footnote>
        <footnote id="F2">12.5% of the option shares vested on August 9, 2023, with the remaining option shares to vest in equal monthly installments over the following forty-two months, subject to the reporting person providing service through the applicable vesting date.</footnote>
        <footnote id="F3">12.5% of the option shares vested on August 9, 2022, with the remaining option shares to vest in equal monthly installments over the following forty-two months, subject to the reporting person providing service through the applicable vesting date.</footnote>
        <footnote id="F4">Fully vested.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mark Meltz, Attorney-in-Fact</signatureName>
        <signatureDate>2025-11-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex24-11112025_021157.htm
<TEXT>
<!DOCTYPE html PUBLIC "-//IETF//DTD HTML//EN">
<html><head><title>ex24-11112025_021157.htm</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px"><br></p>
<p style="margin:0px" align="center"><b>POWER OF ATTORNEY</b></p>
<p style="margin:0px" align="center"><br></p>
<p style="margin:0px" align="center">(For Executing Forms 3, 4, and 5)</p>
<p style="margin:0px" align="center"><br></p>
<p style="margin:0px; text-indent:48px" align="justify">Know all by these presents, that the undersigned hereby constitutes and appoints each of Lynn Seely, Mark Meltz, and Chi-Mei Cheng of Lyell Immunopharma, Inc. (the <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font><b><i>Company</i></b><font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>), signing individually, the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s true and lawful attorneys-in-fact and agents to:</p>
<p style="margin:0px" align="justify"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:122.133px; float:left">(1)</p>
<p style="margin:0px; text-indent:-2px" align="justify">prepare, execute in the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s name and on the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s behalf, and submit to the Securities and Exchange Commission (the <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font><b><i>SEC</i></b><font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>) Forms 3, 4 and 5 (including any amendments thereto) in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the <font style="font-family:Arial Unicode MS,Times New Roman">&ldquo;</font><b><i>Exchange Act</i></b><font style="font-family:Arial Unicode MS,Times New Roman">&rdquo;</font>), and the rules thereunder in the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s capacity as an officer, director or beneficial owner of more than 10% of a registered class of securities of the Company;</p>
<p style="margin:0px; clear:left" align="justify"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:122.133px; float:left">(2)</p>
<p style="margin:0px; text-indent:-2px" align="justify">do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable to execute such Forms 3, 4 or 5 (including amendments thereto) and timely file such forms with the SEC and any stock exchange or any similar authority; and</p>
<p style="margin:0px; clear:left" align="justify"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:122.133px; float:left">(3)</p>
<p style="margin:0px; text-indent:-2px" align="justify">take any other action of any type whatsoever in connection with the foregoing that, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required of the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in the attorney-in-fact<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s discretion.</p>
<p style="margin:0px; clear:left" align="justify"><br></p>
<p style="margin:0px; text-indent:48px" align="justify">The undersigned hereby grants to each such attorneyinfact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorneyinfact, or such attorneyinfact<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. &nbsp;The undersigned acknowledges that the foregoing attorneys-in-fact, and their substitutes, in serving in such capacity at the request of the undersigned, are not assuming (nor is the Company assuming) any of the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s responsibilities to comply with Section 16 of the Exchange Act.</p>
<p style="margin:0px" align="justify"><br></p>
<p style="margin:0px; text-indent:48px" align="justify">This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned<font style="font-family:Arial Unicode MS,Times New Roman">&rsquo;</font>s holdings of and transactions in securities issued by the Company, (b) revocation by the undersigned in a signed writing delivered to the Company and the foregoing attorneys-in fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact is no longer employed by the Company. &nbsp;</p>
<p style="margin:0px" align="justify"><br></p>
<p style="margin:0px; text-indent:48px" align="justify">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of the date written below.</p>
<p style="margin:0px" align="justify"><br></p>
<p style="margin:0px" align="justify"><br></p>
<p style="margin:0px" align="justify">Date: &nbsp;October 31, 2025</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><u>/s/ Veronica Sanchez Bulis</u></p>
<p style="margin:0px">Veronica Sanchez Bulis</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
