Form 4: Calidi Biotherapeutics Officer Granted Stock Options, Forms 3, 4, and 5 Power of Attorney Executed

Boris Minev, Interim Chief Medical Officer of Calidi Biotherapeutics, received stock options and granted a limited power of attorney for SEC filings.

Summary

• Boris Minev, the Interim Chief Medical Officer of Calidi Biotherapeutics, Inc., was granted 31,360 incentive stock options on June 17, 2024, under the company's 2023 Equity Incentive Plan.
• The exercise price of these options is $0.195 per share, which matched the closing price of Calidi Biotherapeutics' common stock on the grant date.
• The options vest in 1/48th installments monthly, starting on September 13, 2023, contingent upon Minev's continued service to the company.
• Minev also executed a Limited Power of Attorney, effective January 25, 2024, appointing Allan Camaisa, Wendy Pizarro, Andrew Jackson, and Michael Cava to handle SEC filings (Forms 3, 4, and 5) on his behalf.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and regulatory compliance, suggesting a neutral to slightly positive sentiment.

Positives

• The granting of stock options aligns the officer's interests with those of the shareholders.
• The vesting schedule incentivizes continued service to the company.
• The power of attorney simplifies SEC compliance for the officer.

Industry Context

Stock options are a common form of executive compensation in the biotechnology industry, aligning management's interests with shareholder value. SEC filings related to beneficial ownership are standard regulatory requirements.

Stakeholder Impact

• Shareholders may view the granting of stock options as a positive incentive for management.
• Employees may see this as a sign of the company's commitment to its leadership.

Key Dates