Company: SNSE
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001193125-25-281590
Chunk: 8

Company: Sensei Biotherapeutics, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 5
Chunk 8
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Rule 10b5-1 Trading Plans

During the fiscal quarter ended September 30, 2025, none of our officers or directors, as defined in Rule 16a-1(f), adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K. 

Costs Associated with Exit or Disposal Activities

As part of the cash preservation associated with the strategic review process, our Board of Directors (the “Board”) has approved a reduction in force of approximately 65% of our workforce. The reduction in force is expected to be completed during the fourth quarter of 2025. We estimate that we will incur cash expenditures of $1.6 million, primarily consisting of severance payments and other employee termination-related expenses, which we expect to recognize the majority of such costs in the fourth quarter of 2025. The estimated charges that we expect to incur are subject to a number of assumptions, and actual results may differ materially from these estimates. We may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, our workforce reduction.

Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers 

Departure of Named Executive Officers

On November 13, 2025, in connection with the reduction in force described above, our Board determined to terminate John Celebi, our Chief Executive Officer, Edward van der Horst, our Chief Scientific Officer, and Stephanie Krebs, our Chief Business Officer, effective as of 5:30 p.m. ET on November 14, 2025 (the “Effective Time”).  Each of Mr. Celebi, Dr. van der Horst and Ms. Krebs will receive severance compensation as provided in each of their respective employment agreements as described in our proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 11, 2025.

In addition, each of Mr. Celebi, Dr. van der Horst and Ms. Krebs have entered into Consulting Agreements with the Company (collectively, the “Consulting Agreements”), effective as of November 14, 2025, pursuant to which they will perform consulting services for the Company. The Consultant Agreements will be for a term of six months and can be terminated by either party upon