Company: MBIO
Filing Date: 2025-12-03
Form Type: DEF 14A
Source: 0001104659-25-118122
Chunk: 1

Company: MUSTANG BIO, INC.
Filing Date: 2025-12-03
Form: DEF 14A
Chunk 1
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uable by 2,500,000 shares and(v) transact any other business that may properly come before the Annual Meeting or any adjournment of the Annual Meeting. You will also have the opportunity to ask questions at the meeting. Your vote is important. It is important that your stock be represented at the meeting regardless of the number of shares you hold. To be sure your vote counts and assure a quorum, please vote by mobile device or over the Internet, or if you received proxy materials by mail, vote, sign, date and return the proxy card accompanying the printed proxy materials, as soon as possible, regardless of whether you plan to virtually attend the meeting; or if you hold your shares through a bank, brokerage firm or other nominee, please follow the instructions for voting provided by your bank, brokerage firm or other nominee, regardless of whether you plan to attend the meeting virtually. If you virtually attend the Annual Meeting and wish to vote virtually, you may revoke your proxy at the meeting. If you have any questions about the proxy statement or the accompanying 2024 Annual Report, please contact us at info@mustangbio.com. We look forward to seeing you at the Annual Meeting.

| ​ | Sincerely,                                                             |
| ​ | ​                                                                      |
| ​ | /s/ Manuel Litchman, M.D.                                              |
| ​ | Manuel Litchman, M.D.                                                  |
| ​ | President, Chief Executive Officer and Interim Chief Financial Officer |

December 3, 2025 Waltham, Massachusetts

MUSTANG BIO, INC. 95 Sawyer Road, Suite 110 Waltham, Massachusetts 02453 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS The Annual Meeting of Stockholders of Mustang Bio, Inc. will be held virtually on December 22, 2025, at 9:00 a.m., Eastern Time. At the Annual Meeting, stockholders will consider and act on the following items:

| 1. | The election of seven directors for a term of one year; |

| 3. | Approve an amendment to the Company’s 2019 Employee Stock Purchase Plan to increase the number of shares issuable by 250,000 shares and increase the number of shares subject to a Purchase Right thereunder to 10,000; |

| 4. | Approve an amendment to the Company’s 2016 Incentive Plan to increase the number of shares issuable by Mustang Bio, Inc. by 2,500,