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IMNP > SEC Filings for IMNP > Form 8-K on 10-Jul-2014All Recent SEC Filings




Change in Directors or Principal Officers

Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

On July 10, 2014, Dr. Isaac Kobrin resigned from his position as a member of the board of directors of Immune Pharmaceuticals Inc. (the "Company"), effective immediately. Dr. Kobrin also resigned from his position as the chairperson of the Research and Development Committee. His resignation was not due to any disagreement with the Company.

On July 10, 2014, Mr. Cameron Durrant accepted the Company's offer to be appointed as a member of the board of directors, effective July 10, 2014. The Company's board of directors approved the appointment of Mr. Durrant as an independent director to fill the vacancy created by the resignation of Mr. Kobrin from the board of directors of the Company and to hold office as a Class II director until the 2015 annual meeting of stockholders and until his successor is duly elected and qualified or until his earlier death, resignation or removal. Mr. Durrant will serve on the Compensation Committee and Research and Development Committee of the board of directors of the Company.

Mr. Durrant will be entitled to receive the same compensation as the other non-employee directors of the Company are entitled to receive, as approved by the Company's board of directors on October 10, 2013. Mr. Durrant's compensation shall be prorated at $8,888 from July 10, 2014 until September 30, 2014. In addition, Mr. Durrant shall receive options to purchase 50,000 shares of common stock of the Company, to vest quarterly over a three (3) year term commencing three (3) months from the effective date of his appointment.

There are no arrangements or understandings between Mr. Durrant and any other person pursuant to which he was selected as a director. The Company is not aware of any transaction in which Mr. Durrant has an interest requiring disclosure under Item 404(a) of Regulation S-K.

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