Carisma Therapeutics terminates CEO (eff. Nov 15) and CSO; three directors resign

Carisma Therapeutics Inc.

CEO Steven Kelly terminated without cause, effective Nov 15, 2025; gets $624K severance plus $299,948 prorated bonus and health payments.
CSO Michael Klichinsky terminated without cause, effective Oct 15, 2025; receives 12 months salary in installments, prorated bonus, $2,245/month health payment.
Directors John Hohneker, Briggs Morrison, David Scadden resigned Oct 15; Kelly resigns from board effective Nov 15.
Company will appoint a consultant as CEO to manage wind-down; prior retention bonus agreement with Kelly voided.
Wind-down of operations previously disclosed; no disagreement cited for director resignations.

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