Immunic Inc. Announces New Stock Appreciation Rights Plan for Employees and Executives, Pending Shareholder Approval
Immunic Inc. has announced a new compensation plan authorized by its Board of Directors on July 7, 2025, involving the issuance of up to 35,000,000 stock appreciation rights (SARs) to its employees and executive officers. Of this total, 22,015,000 SARs are allocated to executive officers. The SARs, intended to be settled in shares of the company's common stock, are contingent upon stockholder approval to amend the 2019 Omnibus Equity Incentive Plan to accommodate the necessary number of shares. The exercise price for each SAR is set at $0.77, the closing price of the stock on the authorization date. The SARs become exercisable from August 1, 2026, with specific conditions tied to the exercise of the company's series A and B purchase warrants and the issuance of stock or warrants in relation to the company's January 2024 private placement.
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