Mosaic ImmunoEngineering CFO Paul Lytle moves to part-time, pay cut to $1,600/month

Mosaic ImmunoEngineering Inc.

CFO Paul Lytle reduced to part-time effective June 1, 2024, max 8 hours/month, monthly rate $1,600.
All deferred unpaid compensation to be paid upon completion of a capital raise of at least $4M.
Company will grant RSUs equal to 20% of deferred salary on closing date of the capital raise.
Lytle no longer eligible for PTO or group insurance benefits under the revised arrangement.
Agreement reflects cost-containment efforts amid need for new funding.

item 5.02 item 9.01

Executive movements

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Role change

Paul Lytle

EVP, Chief Financial Officer

CPMV · Mosaic ImmunoEngineering Inc.

Effective: 2024-06-01
Filed: May 31, 2024, 7:59 PM ET

Mr. Paul Lytle, EVP, Chief Financial Officer of the Company, agreed to amend Mr. Lytle’s employment terms from full time status to part time status, not to exceed eight (8) hours per month effective June 1, 2024

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Lytle changed role as EVP, Chief Financial Officer at Mosaic ImmunoEngineering Inc..

Action: amended
Role: EVP, Chief Financial Officer

Exact text from the filing

Mr. Paul Lytle, EVP, Chief Financial Officer of the Company, agreed to amend Mr. Lytle’s employment terms from full time status to part time status, not to exceed eight (8) hours per month effective June 1, 2024

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Mosaic ImmunoEngineering Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-003923

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