UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
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(Commission File Number) | (IRS Employer Identification No.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
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| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Yes ☐ No ☐
Item 1.01. Entry into a Material Definitive Agreement.
On October 17, 2023, Immunic, Inc. (the “Company”) and Dr. Duane Nash entered into Addendum Number 5 (the “Addendum”) to the Employment Agreement dated April 17, 2020, as amended as of October 15, 2020, April 15, 2021, March 15, 2022, and December 28, 2022, to extend the term of Dr. Nash’s employment as Executive Chairman of the Board of Directors of the Company to December 31, 2024.
In connection with the Addendum, the Company increased Dr. Nash’s monthly base salary to $32,368 from $30,250.
The Addendum is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description of Exhibit | |
| 10.1 | Addendum No. 5, dated October 17, 2023, to Employment Agreement, dated April 17, 2020, between Immunic, Inc. and Duane Nash. |
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: October 18, 2023 | Immunic, Inc. | |
| By: | /s/ Daniel Vitt | |
| Daniel Vitt | ||
| Chief Executive Officer | ||
ADDENDUM NO. FIVE TO EMPLOYMENT AGREEMENT
This Addendum Number FIVE (this “Addendum”) to the Employment Agreement dated April 17, 2020, as amended as of October 15, 2020, April 15, 2021, March 15, 2022 and December 28, 2022 (the “Employment Agreement”) that was entered into by and between IMMUNIC, INC., a Delaware corporation (the “Company”), and DUANE NASH (the “Executive”), is entered into as of October 17, 2023. Defined terms used, but not defined, herein shall have the meaning set forth in the Employment Agreement.
WHEREAS, the Executive agreed to serve in the capacity of Executive Chairman of the Board of Directors of the Company (“Board”), pursuant to the terms of the Employment Agreement, until December 31, 2023 or such later date as shall be mutually agreed to in writing by the Executive and the Company; and
WHEREAS, the Executive and the Company have agreed to extend the term of the Executive’s service as the Executive Chairman of the Board until December 31, 2024 subject to the terms of the Employment Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, and for other valuable consideration, the Company and the Executive hereby agree as follows:
1. Term of Employment. The Company and the Executive hereby agree to extend the Term of Employment from December 31, 2023 to December 31, 2024 with a Base Salary of $32,368 per month (which includes the cash retainer payable for serving on the Company’s Board or for acting as the Chairman of the Board). All other terms of the Employment Agreement shall remain the same and Section 12 (Miscellaneous) of the Employment Agreement is deemed incorporated herein to this Addendum.
IN WITNESS WHEREOF, the parties hereto have caused this Addendum to be executed as of October 17, 2023.
IMMUNIC, INC. | ||
| By: | /s/ Daniel Vitt | |
| Name: | Daniel Vitt | |
| Title: | Chief Executive Officer | |
| EXECUTIVE | ||
| /s/ Duane Nash | ||
| Duane Nash | ||
Cover |
Oct. 17, 2023 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Oct. 17, 2023 |
| Entity File Number | 001-36201 |
| Entity Registrant Name | IMMUNIC, INC. |
| Entity Central Index Key | 0001280776 |
| Entity Tax Identification Number | 56-2358443 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 1200 Avenue of the Americas |
| Entity Address, Address Line Two | Suite 200 |
| Entity Address, City or Town | New York |
| Entity Address, State or Province | NY |
| Entity Address, Country | US |
| Entity Address, Postal Zip Code | 10036 |
| City Area Code | (332) |
| Local Phone Number | 255-9818 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, $0.0001 par value |
| Trading Symbol | IMUX |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |