Mustang Bio Reports Officer/Director Changes, Comp Arrangements

TL;DR

**Mustang Bio just announced leadership changes and new pay deals, watch for strategic shifts.**

AI Summary

Mustang Bio, Inc. filed an 8-K on January 25, 2024, reporting an event that occurred on January 19, 2024. The filing indicates changes related to the departure or election of directors or officers and their compensatory arrangements, as well as financial statements and exhibits. This matters to investors because changes in leadership and compensation structures can signal shifts in company strategy, financial health, or future performance, potentially impacting the stock's value.

Why It Matters

Changes in executive leadership and compensation can significantly influence a company's direction and financial stability, directly affecting investor confidence and stock performance.

Risk Assessment

Risk Level: medium — Changes in leadership can introduce uncertainty, but the specific details of the changes and their impact are not fully disclosed in this summary, warranting a medium risk assessment.

Analyst Insight

Investors should monitor Mustang Bio's subsequent filings or press releases for specific details regarding the reported leadership changes and compensatory arrangements, as these will provide crucial insights into the company's future direction and potential financial implications.

Key Numbers

• $0.0001 — par value per share (of Mustang Bio's Common Stock)

Key Players & Entities

• Mustang Bio, Inc. (company) — the registrant filing the 8-K
• January 19, 2024 (date) — date of the earliest event reported
• January 25, 2024 (date) — date the 8-K was filed
• 001-38191 (other) — Commission File Number
• $0.0001 (dollar_amount) — par value per share of Common Stock
• MBIO (other) — Trading Symbol for Common Stock
• Nasdaq Capital Market (other) — exchange where Common Stock is registered

Forward-Looking Statements

• Mustang Bio will provide more specific details about the leadership changes and compensation arrangements in a subsequent filing or press release. (Mustang Bio, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share MBIO Nasdaq Capital Marke

Filing Documents

• tm244143d1_8k.htm (8-K) — 26KB
• 0001104659-24-006668.txt ( ) — 194KB
• mbio-20240119.xsd (EX-101.SCH) — 3KB
• mbio-20240119_lab.xml (EX-101.LAB) — 33KB
• mbio-20240119_pre.xml (EX-101.PRE) — 22KB
• tm244143d1_8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 19, 2024, Mustang Bio, Inc. (the "Company") appointed James Murphy as the Company's Interim Chief Financial Officer. In his role as Interim Chief Financial Officer, Mr. Murphy will serve as the Company's Principal Financial Officer and Principal Accounting Officer. Mr. Murphy provides consulting services to the Company pursuant to a consulting agreement (the "Danforth Consulting Agreement") between the Company and Danforth Advisors, LLC ("Danforth") and receives no compensation directly from the Company. Mr. Murphy, age 67, has served as a consultant to several companies through Danforth, an advisory firm that provides operational and strategic support services to life science companies. During Mr. Murphy's tenure at Danforth, he has served as interim Chief Financial Officer in both public and private life science companies since 2012. Prior to joining Danforth, Mr. Murphy served as the Chief Financial Officer at OxiGene, Inc., a publicly traded biotechnology company, from February 2004 to April 2012. Mr. Murphy began his career in this life science sector in 1990 when he joined Sepracor Inc., a publicly traded specialty pharmaceutical and device company. Mr. Murphy received his B.A. in economics and accounting from the College of the Holy Cross. No family relationships exist between Mr. Murphy and any of the Company's directors or executive officers. Other than the Danforth Consulting Agreement, there are no arrangements between Mr. Murphy and any other person pursuant to which Mr. Murphy was selected as the Company's principal financial officer, nor are there any transactions to which the Company is or was a participant and in which Mr. Murphy has a material interest subject to disclosure under Item 404(a) of Regulation S-K.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. The following exhibit is furnished herewith: Exhibit Number Description 99.1 Consulting Agreement by and between Mustang Bio, Inc. and Danforth Advisors, LLC dated March 17, 2022 (incorporated by reference to Exhibit 99.1 of the Registrant's Current Report on Form 8-K (File No. 001-38191) filed with the SEC on April 22, 2022). 104 Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Mustang Bio, Inc. (Registrant) Date: January 25, 2024 By: /s/ Manuel Litchman, M.D. Manuel Litchman, M.D. President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR