Company: INMB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001213900-25-073077
Chunk: 122

Company: Inmune Bio, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 4
Chunk 122
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, the Board
appointed Cory Ellspermann as Interim Chief Financial Officer of the Company, effective immediately.

Mr. Ellspermann, age 53, has served as our Interim
Chief Financial Officer since August 2025. Prior to Mr. Ellspermann’s appointment as our Interim Chief Financial Officer, Mr. Ellspermann
served as our Controller and VP of Finance since June 2019. Mr. Ellspermann possesses nearly 30 years of financial management experience
at public and private companies. Prior to joining us, Mr. Ellspermann was Senior Accounting Manager at Artivest, an alternative investments
company. He is a certified public accountant in the State of Texas and previously served as a Senior Audit Manager at Ernst & Young.
He holds a BS in Accounting from Purdue University.

Effective upon his appointment
as Interim Chief Financial Officer, Mr. Ellspermann will continue to serve pursuant to his employment agreement with the Company dated
December 16, 2021, which provides for at-will employment and sets forth his compensation and benefits. Under the employment agreement,
Mr. Ellspermann receives an annual base salary of $181,125 and is eligible for a performance-based bonus, subject to criteria established
by the Company’s compensation committee.

If the Company terminates
Mr. Ellspermann’s employment without Cause (as defined in the employment agreement), he is entitled to nine months of severance
pay, subject to the execution and non-revocation of a release of claims. In the event of a termination without Cause in connection with
a Change in Control (as defined in the employment agreement), all of Mr. Ellspermann’s time-based equity awards will vest in full,
and any options will become fully exercisable.

The employment agreement contains
customary provisions regarding confidentiality, ownership of intellectual property, and restrictions on competition, solicitation, and
interference with the Company’s business relationships during his employment and for one year thereafter.

There are no arrangements
or understandings between Mr. Ellspermann and any other persons pursuant to which he was elected as an officer. Mr. Ellspermann does not
have any family relationships with any of the Company’s directors or executive officers. There are no transactions involving the
Company and Mr. Ellspermann that the Company would be required to report pursuant to Item 404(a) of Regulation S-K.

The terms of employment of
Mr. Ellsper