Company: MBIO
Filing Date: 2025-02-07
Form Type: 424B4
Source: 0001410578-25-000085
Chunk: 278

Company: MUSTANG BIO, INC.
Filing Date: 2025-02-07
Form: 424B4
Chunk 278
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 ​ | ​                
 ​                
 ​                
 Weighted Average 
 Exercise Price   |        ​ 
        ​ 
        ​ | ​ 
 ​ 
 ​ 
 ​ |                    ​ 
     Weighted Average 
            Remaining 
 Contractual Life (in 
               years) |
|:-----------------------------------------------------|:--|--------------:|:--|:-----------------|---------:|:--|---------------------:|
| Outstanding at December 31, 2023                     |   |         1,521 | ​ | $                | 4,297.50 |   |                 3.31 |
| Outstanding at September 30, 2024                    |   |         1,521 | ​ | $                | 4,297.50 |   |                 2.56 |
| Options vested and exercisable at September 30, 2024 |   |           951 | ​ | $                | 4,297.50 |   |                 2.56 |

As of September 30, 2024, the Company had no unrecognized stock-based compensation expense related to options. The Company accounts for forfeited awards as they occur. Restricted Stock The following table summarizes restricted stock award activities for the nine months ended September 30, 2024:

| ​                               
 ​                               
 ​                               
 ​                               | ​ 
 ​ 
 ​ |                ​ 
                ​ 
                ​ 
 Number of Shares | ​ 
 ​ 
 ​ | ​                
 Weighted Average 
 Grant Date Fair  
 Value            |        ​ |
|:--------------------------------|:--|-----------------:|:--|:-----------------|---------:|
| Nonvested at December 31, 2023  |   |            1,285 | ​ | $                |   577.50 |
| Vested                          | ​ |              -90 | ​ | ​                | 2,722.50 |
| Nonvested at September 30, 2024 |   |            1,195 | ​ | $                |   415.95 |

As of September 30, 2024, the Company had unrecognized stock-based compensation expense related to restricted stock of $0.2 million, which is expected to be recognized over the remaining weighted average vesting period of approximately 1.3 years.

F-43

Restricted Stock Units Certain employees and consultants have been awarded restricted stock units with time-based vesting. The following table summarizes restricted stock units’ activities for the nine months