Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Compensation Committee and the Board of Directors of Imunon, Inc.…
Filed Aug 11, 2026Accepted Aug 11, 2026, 5:00 PM EDTCIK 749647Accession 0001493152-26-037170
Imunon is a clinical-stage biotechnology company focused on advancing a portfolio of innovative treatments that harness the body’s natural mechanisms with the aim to generate safe, effective and durable responses across a broad array of human diseases, constituting a differentiating approach from conventional therapies. Imunon is developing its non-viral DNA technology across its modalities. The first modality, TheraPlas®, is developed for the coding of proteins and cytokines in the treatment of solid tumors where an immunological approach is deemed promising. The second modality, PlaCCine®, is developed for the coding of viral antigens that can elicit a strong immunological response. This technology may represent a promising platform for the development of vaccines in infectious diseases.
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Item 5.02Item 5.02 - Departure/Election of Directors
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
The
Compensation Committee and the Board of Directors of Imunon, Inc. (the “Company”), as applicable, approved compensatory programs
for certain executive officers, pursuant to which such executive officers may elect to receive a percentage of their base salary in the
form of shares of common stock and will receive additional shares of common stock in connection with such election.
Name Percentage Additional
and Title of Base Salary that May be Paid in Shares Shares Issuable
Stacy Up 12%
Lindborg, President and Chief Executive Officer to 50% of the aggregate dollar amount of the net stock payment, as amended to 35% for shares issuable on August 14 and 17.5% for the shares
issuable on each pay date beginning on August 28, 2026 and ending on September 25, 2026
Michael Up 20%
Tardugno, Executive Chairman to 100% of the aggregate dollar amount of the net stock payment on July 31, 40% for shares issuable on August 14 and 20% for the shares issuable
on each pay date beginning on August 28, 2026 and ending on September 25, 2026
Douglas Up 12%
Faller, Chief Medical Officer to 40% of the aggregate dollar amount of the net stock payment, as amended to 15% for shares issuable on each pay date beginning on July
31, 2026 and ending on September 25, 2026
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The
shares issuable to Dr. Lindborg and Mr. Tardugno were deemed to be exempt from registration pursuant to Section 4(a)(2) of the Securities
Act of 1933, as amended, as transactions by the Company not involving a public offering. The shares issuable to Dr. Faller will be issued
pursuant to the Imunon, Inc. 2018 Stock Incentive Plan, as amended and restated.