secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001420720-24-000032
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iBio amends CEO Martin Brenner's agreement; base salary $522K, bonus target raised to 50% for FY2025
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- Base salary set at $522,365; FY2025 bonus target increased to 50% of base salary, FY2024 remains 40%.
- Severance without cause or for good reason includes 12 months salary, pro-rata bonus, and COBRA coverage.
- Upon Sale Event termination: 18 months salary, target bonus, and accelerated vesting of time-vested equity.
- Employment is at-will; includes standard termination benefits and non-solicitation/invention assignment clauses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000032/0001420720-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000032/ibio-20240723x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-24-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer