Cue Biopharma appoints Usman Azam as CEO, succeeding Daniel Passeri who transitions to advisor

Cue Biopharma, Inc.

Usman Azam appointed President and CEO effective Sept 29, 2025; succeeds Daniel Passeri who retires and becomes strategic advisor.
Azam receives base salary $620,000, bonus target 50% of base, stock options for 2.25M shares (1.875M time-based + 375K performance-based).
Passeri receives lump sum severance of $838,750, 12-month equity vesting acceleration, and COBRA for 18 months.
Passeri advisor agreement: stock option for 375K shares tied to financing milestone, term through March 30, 2026, with continued equity vesting.

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