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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 September 20, 2022, the Board of Directors (the “Board”) of Immune Therapeutics, Inc. (the “Company”), resolved to increase the size of the Board from five to six members and appoint H. Louis Salomonsky to the Board to fill the vacancy created by such increase, both effective as of September 20, 2022. The Company and Mr. Salomonsky have not entered into any arrangement regarding the payment of compensation for acting as a director of the Company.
Mr. Salomonsky is a real estate professional with decades of experience in designing, developing, and managing commercial real estate. Since June 1989, Mr. Salomonsky has been the founder and principal of Historic Housing LLC, a firm with expertise in both the adaptive reuse of historic buildings and the construction of new buildings for multi-family residential dwellings. Mr. Salomonsky’s work in the real estate market focuses on two property markets: Richmond, Virginia and Washington, D.C., where, over the past 28 years, he has created assets that Mr. Salomonsky’s firm values approximately at an aggregate $750 million. Mr. Salmonsky’s work at Historic Housing LLC specializes in federal Low-Income Housing Tax Credits and historic rehabilitation tax credits, and conventionally-financed three- to twelve-story new-construction buildings. Mr. Salmonsky’s experience also includes community and professional volunteer work, including serving on task forces to examine historic tax credit legislation for the Commonwealth of Virginia and regarding government structure for the City of Richmond. Mr. Salomonsky served as the Vice Rector and as a Member of the Board of Visitors for Virginia State University. Mr. Salomonsky is currently serving on the University of Virginia School of Architecture Foundation Board, of which he has been a director since July 1, 2020. Our Board believes that Mr. Salomonsky is qualified to serve as a member of the Board due to his many years of operational leadership and his previous board memberships. Mr. Salomonsky was appointed to serve on the Board until his successor is duly elected and qualified. There are no arrangements or understandings between Mr. Salomonsky and any other persons pursuant to which he was selected as a director. There has been no transaction, nor is there any currently proposed transaction, between Mr. Salomonsky and the Company that would require disclosure under Item 404(a) of Regulation S-K.
Item 8.01 Other Events.
On September 27, 2022, the Company issued a press release announcing the appointment of Mr. Salomonsky to the Board. A copy of the press release is attached to this report as Exhibit 99.1. The press release furnished in this report as Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description of Exhibit | |
| 99.1 | Press Release dated September 27, 2022 | |
| 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.
| Date: September 27, 2022 | IMMUNUNE THERAPEUTICES, INC. | |
| /s/ Stephen Wilson | ||
| Name: | Dr. Stephen Wilson | |
| Title: | Chief Executive Officer | |
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