---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-277083"
form_type: "8-K"
ticker: null
cik: "0001445499"
company_name: "IMPEL PHARMACEUTICALS INC"
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:22:41.120771+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-277083
- form_type: 8-K
- cik: 0001445499
- company_name: IMPEL PHARMACEUTICALS INC
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1445499/000119312523277083/0001193125-23-277083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1445499/000119312523277083/d367592d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-277083
- JSON: https://secwatch.observer/filing/0001193125-23-277083.json
- Plain text: https://secwatch.observer/filing/0001193125-23-277083.txt

## Key facts
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1445499/000119312523277083/0001193125-23-277083-index.htm
- Executive change
  Adrian Adams resigned as President and Chief Executive Officer at IMPEL PHARMACEUTICALS INC.
  - Action: resigned
  - Role: President and Chief Executive Officer
  source text: Adrian Adams resigned as chairman of the Board and as President and Chief Executive Officer of Impel Pharmaceuticals Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1445499/000119312523277083/0001193125-23-277083-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.