CEO Teofilo Raad departs Pulmatrix; Peter Ludlum appointed Interim CEO

Pulmatrix, Inc.

Teofilo Raad separated as CEO and Board member effective July 19, 2024; severance includes $567,294 salary, $156,310 prorated bonus, $283,647 separation bonus.
Peter Ludlum appointed Interim CEO effective July 20, 2024; also continues as Interim CFO; compensated at $700/hour via Danforth Advisors.
Ludlum eligible for retention bonuses totaling $50,000 ($30,000 upfront, $20,000 after annual meeting).
Raad's departure is not due to any disagreement regarding company operations, policies, or practices.

item 5.02 item 9.01

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Appointed (interim)

Peter Ludlum

Interim Chief Executive Officer

PULM · Pulmatrix, Inc.

Effective: 2024-07-20
Filed: July 19, 2024, 7:59 PM ET

the Board approved the appointment of Peter Ludlum as the Interim Chief Executive Officer (the “Interim CEO”), effective as of July 20, 2024

Departed

Teofilo Raad

Chief Executive Officer

PULM · Pulmatrix, Inc.

Effective: 2024-07-19
Successor: Peter Ludlum
Filed: July 19, 2024, 7:59 PM ET

Effective as of the Separation Date, Mr. Raad’s employment with the Company shall cease and Mr. Raad shall relinquish all positions, offices, and authority with the Company and any affiliates, including as a member of the Board

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Peter Ludlum was appointed as Interim Chief Executive Officer at Pulmatrix, Inc..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

the Board approved the appointment of Peter Ludlum as the Interim Chief Executive Officer (the “Interim CEO”), effective as of July 20, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Teofilo Raad departed as Chief Executive Officer at Pulmatrix, Inc..

Action: separated
Role: Chief Executive Officer

Exact text from the filing

Effective as of the Separation Date, Mr. Raad’s employment with the Company shall cease and Mr. Raad shall relinquish all positions, offices, and authority with the Company and any affiliates, including as a member of the Board

View on SEC.gov

Pulmatrix, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-028507

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