Company: MBIO
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001104659-25-030657
Chunk: 259

Company: MUSTANG BIO, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 259
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, officers or directors of Checkpoint to trade in the securities of Fortress or any other affiliate: Fortress’ chief legal officer and principal financial officer (as of the date first above written, Samuel Berry at *** and David Jin at ***) |

| ● | Requests by employees, officers or directors of Journey Medical Corporation (“Journey”) to trade in the securities of Journey: Journey’s chief legal officer and principal financial officer (as of the date first above written, Ramsey Alloush at *** and Joseph Benesch at ***) |

| ● | Requests by employees, officers or directors of Journey to trade in the securities of Fortress or any other affiliate: Fortress’ chief legal officer and principal financial officer (as of the date first above written, Samuel Berry at *** and David Jin at ***) |

| ● | Requests by employees, officers or directors of Mustang Bio, Inc. (“Mustang”) to trade in the securities of Mustang: Mustang’s chief legal officer and principal financial officer (as of the date first above written, for purposes of this Insider Trading Policy, Samuel Berry at *** and David Jin at ***) |

| ● | Requests by employees, officers or directors of Mustang to trade in the securities of Fortress or any other affiliate: Fortress’ chief legal officer and principal financial officer (as of the date first above written, Samuel Berry at *** and David Jin at ***) |

Any Insider who wishes to implement
a new trading plan under SEC Rule 10b5-1 must first pre-clear the plan with the Insider Trading Compliance Officer for each Company whose
securities are included in the plan. Transactions effected pursuant to a pre-cleared trading plan will not require further pre-clearance
at the time of the transaction if the plan specifies the dates, prices, and amounts of the contemplated trades, or establishes a formula
for determining the dates, prices, and amounts. Those transactions, however, must be reported immediately to the Insider Trading Compliance
Officer.

2.. The Sarbanes-Oxley Act makes it illegal for issuers to extend or maintain credit or arrange for the
extension of credit in the form of a personal loan to any officer or director. In most broker-assisted cashless exercises, there is typically
a delay of a few days from the time of exercise to the date the issuer receives the exercise price. Some attorneys have speculated that
these arrangements could be deemed an impermissible extension of credit arranged by issuers for their insiders. Consequently, unless and
until this issue gets resolved to our satisfaction, we require