Impel boosts interim CEO Paolillo salary to $600k, amends change-of-control MIP

IMPEL PHARMACEUTICALS INC

Len Paolillo appointed interim CEO with base salary increased to $600,000 and increased MIP interest.
CFO Michael Kalb receives one-time $30,000 salary advance, subject to repayment if he leaves before deal close or Dec 31, 2023.
Amended MIP reallocates former CEO Adrian Adams' forfeited 0.85% net consideration interest to remaining participants.
Compensation adjustments permitted via letter agreement with lender Oaktree Fund Administration.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change (interim)

Leonard S. Paolillo

interim President and Chief Executive Officer

IMPEL PHARMACEUTICALS INC

Effective: 2023-11-04
Filed: November 14, 2023, 6:59 PM ET

the Board of Directors (the “ Board ”) of the Company appointed Leonard S. Paolillo, the Company’s Chief Commercial Officer, as interim President and Chief Executive Officer of the Company.

Departed

Adrian Adams

President and Chief Executive Officer

IMPEL PHARMACEUTICALS INC

Effective: 2023-11-04
Successor: Leonard S. Paolillo
Filed: November 14, 2023, 6:59 PM ET

Adrian Adams resigned as chairman of the Board and as President and Chief Executive Officer of Impel Pharmaceuticals Inc.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Leonard S. Paolillo was appointed as interim President and Chief Executive Officer at IMPEL PHARMACEUTICALS INC.

Action: appointed
Role: interim President and Chief Executive Officer

Exact text from the filing

the Board of Directors (the “ Board ”) of the Company appointed Leonard S. Paolillo, the Company’s Chief Commercial Officer, as interim President and Chief Executive Officer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Adrian Adams resigned as President and Chief Executive Officer at IMPEL PHARMACEUTICALS INC.

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Adrian Adams resigned as chairman of the Board and as President and Chief Executive Officer of Impel Pharmaceuticals Inc.

View on SEC.gov

Source: SEC EDGAR

accession 0001193125-23-277083

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