Imunon, Inc. Reports Director/Officer Changes & Compensatory Arrangements
Ticker: IMNN · Form: 8-K · Filed: May 8, 2024 · CIK: 749647
Sentiment: neutral
Topics: management-change, compensation, corporate-governance
TL;DR
Imunon leadership shakeup: new directors, officers appointed, and pay details disclosed.
AI Summary
Imunon, Inc. filed an 8-K on May 8, 2024, reporting changes effective May 3, 2024. The filing covers the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. It also includes Regulation FD disclosures and financial statements with exhibits.
Why It Matters
This filing indicates significant changes in the company's leadership and executive compensation structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — Changes in directors and officers, along with compensation adjustments, can signal internal shifts that may affect the company's future performance and stability.
Key Players & Entities
- Imunon, Inc. (company) — Registrant
- May 3, 2024 (date) — Effective date of reported events
- May 8, 2024 (date) — Filing date of the 8-K
FAQ
Who specifically departed from Imunon, Inc.'s board or officer positions?
The filing indicates the departure of directors or certain officers, but does not name the specific individuals in this section of the provided text.
Who were elected as new directors or appointed as new officers?
The filing states that directors were elected and officers were appointed, but the specific names are not detailed in the provided text.
What are the details of the compensatory arrangements for certain officers?
The filing mentions compensatory arrangements for certain officers, but the specific terms and amounts are not provided in the excerpt.
What is the significance of the Regulation FD Disclosure item?
Regulation FD (Fair Disclosure) ensures that material non-public information is disclosed to all investors simultaneously, preventing selective disclosure.
What financial statements and exhibits are included with this filing?
The filing indicates that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
Filing Stats: 1,149 words · 5 min read · ~4 pages · Grade level 10.8 · Accepted 2024-05-08 08:15:54
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share IMNN Nasdaq Capital Marke
- $567,000 — l pay Dr. Lindborg an initial salary of $567,000 and a targeted annual performance bonus
- $200,000 — ive a sign-on bonus from the Company of $200,000, subject to certain conditions. Dr. Lin
Filing Documents
- form8-k.htm (8-K) — 45KB
- ex10-1.htm (EX-10.1) — 170KB
- ex99-1.htm (EX-99.1) — 20KB
- ex99-1_001.jpg (GRAPHIC) — 3KB
- 0001493152-24-018166.txt ( ) — 444KB
- imnn-20240503.xsd (EX-101.SCH) — 3KB
- imnn-20240503_lab.xml (EX-101.LAB) — 33KB
- imnn-20240503_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 8, 2024, Imunon, Inc. (the "Company") announced the appointment of Stacy R. Lindborg, Ph.D., as President and Chief Executive Officer of the Company, effective as of May 13, 2024. Dr. Lindborg (age 53) has served on the Company's Board of Directors since June 2021. Dr. Lindborg, a globally recognized biostatistician, has nearly 30 years of pharmaceutical and biotech industry experience with a particular focus on R&D, regulatory affairs, executive management and strategy development. She has worked with biologics, small molecules and cell therapies to address a range of diseases and disorders. She has extensive experience in early-stage development, having taken molecules from first-in-human studies into the clinic, through regulatory approval and commercial launch. Until May 9, 2024, Dr. Lindborg is co-Chief Executive Officer at Brainstorm Cell Therapeutics Inc. (Nasdaq: BCLI), which she joined in 2020. From 2012 to 2020, she held positions of increasing responsibility at Biogen, where she worked in biostatistics and biometrics and served as Vice President, Analytics and Data Science, building a world-class analytics and data sciences team that was responsible for global data as well as statistical and epidemiological support for R&D and marketed products. Prior to her time at Biogen, Dr. Lindborg had worked at Eli Lilly and Company (NYSE: LLY) since 1996, advancing through the organization to serve from 2010 to 2012 as Head of R&D Strategy with responsibility for characterizing the productivity of the portfolio and advancing key R&D strategy projects by connecting individual drug-development decisions to portfolio risk practices and driving fundamental R&D decisions to increase the number of drug launches. Dr. Lindborg received an M.A. and a Ph.D. in statistics from Baylor University. She has author
01
Item 7.01 Regulation FD Disclosure A copy of the Company's press release announcing Dr. Lindborg's appointment as President and Chief Executive Officer is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Employment Agreement, dated as of May 3, 2024, between Imunon, Inc. and Stacy Lindborg, Ph.D. 99.1 Press release dated May 8, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
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. IMUNON, INC. Dated: May 8, 2024 By: /s/ Jeffrey W. Church Jeffrey W. Church Executive Vice President, Chief Financial Officer and Corporate Secretary