iBio Appoints Thomas D'Alonzo CEO, Hikes Executive Compensation
Ticker: IBIO · Form: 8-K · Filed: 2024-07-26T00:00:00.000Z
Sentiment: neutral
Topics: executive-appointment, ceo-change, compensation
Related Tickers: IBIO
TL;DR
iBio names D'Alonzo permanent CEO, pays him $450k + stock. Lehr out.
AI Summary
On July 23, 2024, iBio, Inc. announced the appointment of Thomas L. D'Alonzo as its new Chief Executive Officer and a member of the Board of Directors. D'Alonzo, who previously served as interim CEO, will receive an annual base salary of $450,000, a target annual bonus of 50% of his base salary, and stock options. The company also announced the departure of its former CEO, Martin H. Lehr.
Why It Matters
The appointment of a permanent CEO signals a new strategic direction for iBio, while the executive compensation details provide insight into the company's investment in its leadership.
Risk Assessment
Risk Level: medium — Changes in executive leadership and associated compensation can indicate shifts in company strategy and financial priorities, carrying inherent risks.
Key Numbers
- $450,000 — CEO Base Salary (Annual compensation for new CEO Thomas L. D'Alonzo.)
- 50% — Target Bonus (Annual bonus target for the new CEO as a percentage of base salary.)
Key Players & Entities
- iBio, Inc. (company) — Registrant
- Thomas L. D'Alonzo (person) — Appointed CEO and Board Member
- $450,000 (dollar_amount) — D'Alonzo's annual base salary
- Martin H. Lehr (person) — Former CEO who departed
FAQ
Who has been appointed as the new CEO of iBio, Inc.?
Thomas L. D'Alonzo has been appointed as the new Chief Executive Officer of iBio, Inc.
What is the annual base salary for the new CEO?
The annual base salary for Thomas L. D'Alonzo is $450,000.
What is the target annual bonus for the CEO?
The target annual bonus for the CEO is 50% of his base salary.
Who was the previous CEO of iBio, Inc.?
Martin H. Lehr was the former CEO of iBio, Inc.
When was the earliest event reported in this filing?
The earliest event reported in this filing was on July 23, 2024.
Filing Stats: 1,084 words · 4 min read · ~4 pages · Grade level 13 · Accepted 2024-07-26 09:03:41
Key Financial Figures
- $0.001 — ge on which registered Common Stock , $0.001 par value per share IBIO NYSE Americ
- $522,365 — Agreement, Dr. Brenner's base salary is $522,365 (the "Base Salary") and his bonus targe
Filing Documents
- ibio-20240723x8k.htm (8-K) — 36KB
- ibio-20240723xex10.htm (EX-10) — 98KB
- 0001420720-24-000032.txt ( ) — 280KB
- ibio-20240723.xsd (EX-101.SCH) — 4KB
- ibio-20240723_def.xml (EX-101.DEF) — 4KB
- ibio-20240723_lab.xml (EX-101.LAB) — 14KB
- ibio-20240723_pre.xml (EX-101.PRE) — 10KB
- ibio-20240723x8k_htm.xml (XML) — 5KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Amended and Restated Employment Agreement dated as of July 23, 2024, effective as of July 1, 2024, by and between the Company and Martin Brenner 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) The Company has omitted certain portions of the Amended and Restated Employment Agreement in accordance with Item 601(b)(10) of Regulation S-K. The Company agrees to furnish unredacted copies of these Exhibits to the SEC upon request. -2-
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. IBIO, INC. Date: July 26, 2024 By: /s/ Marc Banjak Name: Marc Banjak Title: General Counsel and Corporate Secretary -3-