Enzon Pharmaceuticals CFO Departs, New CFO Appointed

TL;DR

CFO out, new CFO in at Enzon. Rossi takes over Jan 10th with $350k salary.

AI Summary

Enzon Pharmaceuticals, Inc. announced on January 7, 2025, the departure of its Chief Financial Officer, David J. Stack, effective January 10, 2025. The company also announced the appointment of Michael J. Rossi as the new Chief Financial Officer, effective January 10, 2025. Rossi will receive an annual base salary of $350,000.

Why It Matters

This filing indicates a change in key financial leadership at Enzon Pharmaceuticals, which could impact investor confidence and the company's financial strategy.

Risk Assessment

Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding financial strategy and operational continuity.

Key Numbers

• $350,000 — New CFO Salary (Annual base salary for Michael J. Rossi)

Key Players & Entities

• Enzon Pharmaceuticals, Inc. (company) — Registrant
• David J. Stack (person) — Departing Chief Financial Officer
• January 10, 2025 (date) — Effective date of CFO departure and appointment
• Michael J. Rossi (person) — Appointed Chief Financial Officer
• $350,000 (dollar_amount) — Annual base salary for new CFO

FAQ

Filing Documents

• tm252980d1_8k.htm (8-K) — 29KB
• 0001104659-25-002591.txt ( ) — 193KB
• enzn-20250107.xsd (EX-101.SCH) — 3KB
• enzn-20250107_lab.xml (EX-101.LAB) — 33KB
• enzn-20250107_pre.xml (EX-101.PRE) — 22KB
• tm252980d1_8k_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 7, 2025, the Board of Directors (the "Board") of Enzon Pharmaceuticals, Inc. (the "Company") approved an increase in the number of directors on the Board to four and appointed Stephen T. Wills as a director, effective immediately. Mr. Wills will serve until the next annual meeting of the Company's stockholders and until his successor is elected and qualified, subject to his earlier death, resignation, disqualification or removal. Mr. Wills, age 67, CPA, MST, currently serves as the Chief Financial Officer, Treasurer, Secretary (since 1997), and Chief Operating Officer (since 2011), of Palatin Technologies, Inc. a biopharmaceutical company developing medicines based on molecules that modulate the activity of the melanocortin receptor system. Mr. Wills has served on the board of directors of MediWound Ltd. (Nasdaq: MDWD), a biopharmaceutical company focused on treatment in the fields of severe burns, chronic and other hard to heal wounds, since April 2017, and as chairperson from October 2017 until August 2022, and is the chair of the audit committee and a member of the compensation committee. Mr. Wills served on the board of directors of Gamida Cell Ltd., a cellular and immune therapeutics company, and as chair of the audit committee and a member of the compensation committee, from March 2019 through June 2024, when Gamida was acquired by Highbridge Capital Management. Mr. Wills served as the Chief Financial Officer of Cactus Acquisition Corp, a Special Purpose Acquisition Company, from November 2021 until March 2024, when a new sponsor acquired majority ownership. Mr. Wills served on the board of directors of Amryt Pharma, a biopharmaceutical company focused on developing and delivering treatments to help improve the lives of patients with rare and orphan diseases, and as chair of the audit committ

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K contains forward-looking on Form 8-K that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, any related transaction and the timing thereof. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: there can be no assurance that any transaction will result from the Special Committee's evaluation of the Proposal, or, if so, the timing, terms and conditions of such transaction; and volatility in capital markets and general economic conditions, as well as other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 , and our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from those indicated by the forward-looking statements made in this Current Report on Form 8-K. Any such forward-looking statements represent management's beliefs as of the date of this Current Report on Form 8-K. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENZON PHARMACEUTICALS, INC. (Registrant) Date: January 10, 2025 By: /s/ Richard L. Feinstein Name: Richard L. Feinstein Title: Chief Executive Officer, Chief Financial Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR