UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
Current Report
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Securities Exchange Act of 1934
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 31, 2024, Mosaic ImmunoEngineering, Inc. a Delaware corporation (the “Company” or “Mosaic”) and 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 (“Effective Date”), in exchange for a monthly rate of $1,600. In addition, as previously agreed to by the parties, all deferred and unpaid compensation (“Deferred Salary”) as of the Effective Date will be paid to Mr. Lytle once the Company has completed a capital raise of at least $4 million (“Required Capital Raise”). In exchange for the deferred payment of Mr. Lytle’s Deferred Salary, the Company previously agreed to issue Mr. Lytle restricted stock units (”RSU’s”) equal to 20% of the Deferred Salary amount on the closing date of the Required Capital Raise.
The foregoing summary of the terms of Mr. Lytle’s employment with the Company does not purport to be complete and is subject to, and qualified in its entirety by, such document attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
(d) The following exhibits are being filed herewith:
| Exhibit No. | Description | |
| 10.1 | Employment status change letter dated May 31, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Mosaic ImmunoEngineering, Inc. | ||
| Date: May 31, 2024 | By: /s/ Steven King | |
| Steven King | ||
| President and Chief Executive Officer, Director |
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