IMMUNIC, INC. Files 8-K: Board and Compensation Updates
Ticker: IMUX · Form: 8-K · Filed: Jul 9, 2024 · CIK: 1280776
| Field | Detail |
|---|---|
| Company | Immunic, INC. (IMUX) |
| Form Type | 8-K |
| Filed Date | Jul 9, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $500,000, $120,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
IMMUNIC files 8-K: new board members and exec pay changes announced.
AI Summary
On July 9, 2024, IMMUNIC, INC. filed an 8-K report detailing changes in its board of directors and executive compensation arrangements. The filing includes the election of new directors and updates to compensatory plans for its officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may affect company direction and investor relations.
Key Players & Entities
- IMMUNIC, INC. (company) — Registrant
- July 9, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 1200 Avenue of the Americas, Suite 200 New York, NY 10036 (address) — Principal executive offices
FAQ
What specific changes were made to IMMUNIC, INC.'s board of directors?
The filing indicates the election of directors and potential departures, though specific names of newly elected or departing directors are not detailed in the provided text.
What is the nature of the compensatory arrangements being updated?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not elaborated in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on July 9, 2024.
What is IMMUNIC, INC.'s state of incorporation and principal executive office address?
IMMUNIC, INC. is incorporated in Delaware and its principal executive offices are located at 1200 Avenue of the Americas, Suite 200, New York, NY 10036.
What is the Commission File Number for IMMUNIC, INC.?
The Commission File Number for IMMUNIC, INC. is 001-36201.
Filing Stats: 1,044 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-07-09 06:40:33
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 IMUX The Nasdaq Stock Market LLC In
- $500,000 — io will receive a yearly base salary of $500,000, subject to periodic review and adjustm
- $120,000 — Tardio a signing bonus in the amount of $120,000, 50 percent payable in the first month
Filing Documents
- e663765_8k-immunic.htm (8-K) — 27KB
- e663765_ex99-1.htm (EX-99.1) — 17KB
- image.jpg (GRAPHIC) — 6KB
- 0001193805-24-000893.txt ( ) — 231KB
- imux-20240709.xsd (EX-101.SCH) — 3KB
- imux-20240709_lab.xml (EX-101.LAB) — 33KB
- imux-20240709_pre.xml (EX-101.PRE) — 22KB
- e663765_8k-immunic_htm.xml (XML) — 4KB
02. Departure of Directors or Principal Officers; Election
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Jason Tardio as Chief Operating Officer and President On July 9, 2024, Immunic, Inc. (the " Company ") announced the appointment of Jason Tardio as Chief Operating Officer and President, effective July 12, 2024. In this newly created position at the Company, Mr. Tardio will be responsible for directing corporate efforts to prepare for the potential launch of vidofludimus calcium (IMU-838), the Company's orally available nuclear receptor related 1 (Nurr1) activator. In fulfilling his several duties and responsibilities, Mr. Tardio is expected to collaborate with Mr. Patrick Walsh, Chief Business Officer, among other officers of the Company, to prepare the Company for a range of potential partnership outcomes. In connection with his appointment as Chief Operating Officer and President, Mr. Tardio will receive a yearly base salary of $500,000, subject to periodic review and adjustments made by the Company, and be eligible for a yearly bonus amount of up to 40 percent of the yearly base salary upon achievement of certain individual and company goals. In addition, the Company will pay Mr. Tardio a signing bonus in the amount of $120,000, 50 percent payable in the first month and 50 percent payable after six months of employment. Mr. Tardio is also entitled to a severance payment equivalent to twelve months of Mr. Tardio's yearly base salary if (i) Mr. Tardio were to be terminated without "cause" (as such term is defined in the employment agreement to be entered into with Mr. Tardio), or (ii) the Company were to elect not to renew the term of Mr. Tardio's employment with the Company. The Company will recommend that the Company's board of directors grant to Mr. Tardio an initial equity option to purchase a maximum of 500,000 shares of common stock of the Company (the " Options "), the provision
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit No. Description of Exhibit 99.1 Press release dated July 9, 2024.
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. Dated: July 9, 2024 Immunic, Inc. By: /s/ Daniel Vitt Daniel Vitt Chief Executive Officer