Company: MBIO
Filing Date: 2025-12-03
Form Type: DEF 14A
Source: 0001104659-25-118122
Chunk: 41

Company: MUSTANG BIO, INC.
Filing Date: 2025-12-03
Form: DEF 14A
Chunk 41
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1500 East Duarte Road, Duarte, California 91010. |

| (2) | Converts into 1,127 shares of common stock. |

The following table shows information, as of November 18, 2025, concerning the beneficial ownership of our Class A Preferred Stock:

| ​                                       | ​ |                       ​ | ​ |               ​ | ​ |
| ​                                       | ​ | Class A Preferred Stock |   |                 |   |
| ​                                       | ​ |      Beneficially Owned |   |                 |   |
| ​                                       |   |               Number of |   |               ​ |   |
| ​                                       | ​ |              Shares and | ​ |               ​ |   |
| ​                                       | ​ |               Nature of | ​ |   Percentage of |   |
| ​                                       | ​ |              Beneficial | ​ |   Total Class A |   |
| Name and Address of Beneficial Owner(1) | ​ |            Ownership(2) | ​ | Preferred Stock |   |
| Fortress Biotech, Inc.                  |   |                 250,000 |   |             100 | % |

| (1) | The address of Fortress Biotech, Inc. is c/o Fortress Biotech, Inc., 1111 Kane Concourse Suite 301 Bay Harbor Islands, FL 33154. |

| (2) | Converts into 333 shares of common stock. |

27

#### PROPOSAL ONE: ELECTION OF DIRECTORS; NOMINEESOur Bylaws provide that the Board shall consist of not more than nine nor less than one member, as determined from time to time by resolution of the Board. Our Board currently consists of seven members. The nominated directors are: Manuel Litchman, M.D., Michael S. Weiss, Adam J. Chill, Neil Herskowitz, David Jin, Lindsay A. Rosenwald, M.D., and Michael J. Zelefsky, M.D. For information about each of the nominees and our Board generally, please see “Corporate Governance - Current Directors/Nominees” beginning on page 6. If elected, the nominees will hold office until the next annual meeting and until a respective successor is elected and has been qualified, or until such director resigns or is removed from office. Management expects that each of the nominees will be available for election, but if any of them is unable to serve at the time the election occurs, your proxy will be voted for the election of another nominee to be designated by