Aptevo (NASDAQ: APVO) elevates COO Jeff Lamothe to succeed CEO Marvin White

Rhea-AI Filing Summary

Aptevo Therapeutics announced a planned leadership transition. Marvin L. White will retire as President and Chief Executive Officer effective April 1, 2026, and become Executive Chair of the Board. Chief Operating Officer Jeff Lamothe will be promoted to President and Chief Executive Officer and will serve as the company’s principal executive officer.

Lamothe will also join the Board as a Class III director, increasing the Board size from six to seven directors, and will serve on the Executive Committee. His compensation will include a $650,000 annual base salary, a bonus target equal to 60% of base salary, and a one-time $150,000 cash promotional award. White will receive a $275,000 annual base salary as Executive Chair and will not be eligible for an annual bonus. The company also modified its Senior Management Severance Plan to align Executive Chair severance benefits with Chief Executive Officer benefits and remove the Executive Vice President level.

Insights

Corporate governance and executive compensation analyst

Aptevo sets an orderly CEO succession with defined pay changes.

Aptevo transitions from long-serving CEO Marvin White to current COO Jeff Lamothe as President and CEO on April 1, 2026. White remains as Executive Chair, which preserves institutional knowledge and continuity while shifting day-to-day leadership responsibilities to Lamothe.

Lamothe’s compensation package—$650,000 base salary, a 60% bonus target, and a one-time $150,000 cash award—reflects a standard step-up to a chief executive role. White’s reduced base salary of $275,000 and no bonus aligns with his oversight-focused Executive Chair position.

Board structure changes include increasing the Board from six to seven members and adding Lamothe as a Class III director through the 2028 annual meeting. Adjustments to the Senior Management Severance Plan to match Executive Chair and CEO severance levels clarify potential exit terms but do not by themselves signal strategic shifts; future company communications will indicate how Lamothe’s leadership influences operations and long-term growth priorities.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 30, 2026

APTEVO THERAPEUTICS INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-37746	81-1567056
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
2401 4th Avenue Suite 1050
Seattle, Washington				98121
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (206) 838-0500

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.001 par value		APVO		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

On January 30, 2026, Marvin L. White notified Aptevo Therapeutics Inc. (the “Company”) of his intent to retire as the Company’s President and Chief Executive Officer, effective as of April 1, 2026 (the “Transition Date”). Mr. White’s intention to resign was not because of any disagreement with management or the Board of Directors of the Company (the “Board”) on any matter relating to the Company’s operations, policies or practices. On February 3, 2026, the Company announced that effective as of the Transition Date, Mr. White will transition to the role of Executive Chair of the Board, and Jeff Lamothe, the Company’s current Chief Operating Officer, will assume the role of President and Chief Executive Officer of the Company. In addition, the Board has appointed Mr. Lamothe to serve as a Class III director of the Company to hold office until the 2028 annual meeting of stockholders of the Company and a member of the Executive Committee of the Board effective as of the Transition Date. Accordingly, the size of the Board will be increased from six directors to seven directors effective as of the Transition Date. In his capacity as President and Chief Executive Officer, Mr. Lamothe will serve as the Company’s principal executive officer. As Executive Chair, Mr. White will work closely with Mr. Lamothe and the executive team to provide mentorship and continuity and support the Company’s long-term growth. John E. Niederhuber, M.D., currently serving on the Board and as Chairman of the Board, will serve as Lead Independent Director effective as of the Transition Date.

Mr. Lamothe, age 60, has served as the Company’s Executive Vice President and Chief Operating Officer since March 2023, previously Executive Vice President and Chief Financial Officer since February 2022 and Senior Vice President and Chief Financial Officer since July 2016. Mr. Lamothe previously served as Emergent’s Vice President Finance, Biosciences Division. Mr. Lamothe assumed this role in February 2014 when Emergent concluded the acquisition of Cangene Corporation (“Cangene”), where he was Chief Financial Officer. Mr. Lamothe assumed the role of Chief Financial Officer of Cangene in August 2012. Prior to that, Mr. Lamothe was the Chief Financial Officer for Smith Carter Architects and Engineers Incorporated, a position which he held from January 2010 until July 2012. He also previously served as President and Chief Executive Officer of Kitchen Craft Cabinetry after occupying the position of VP Finance and Chief Financial Officer with that organization. Mr. Lamothe’s other past experience includes serving as Chief Financial Officer for Motor Coach Industries, and Mr. Lamothe has held various roles at James Richardson & Sons, Limited and Ernst & Young LLP. Mr. Lamothe earned his Bachelor of Commerce (honors) degree from the University of Manitoba and is a Chartered Public Accountant.

There are no arrangements or understandings between Mr. Lamothe and any other persons pursuant to which he will be appointed to serve as the Company’s President and Chief Executive Officer or a director of the Company. Mr. Lamothe has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, and Mr. Lamothe has no family relationships with any director or executive officer of the Company.

Effective as of the Transition Date, Mr. Lamothe will receive an annual base salary of $650,000 and is eligible for an annual bonus target equivalent to 60% of his base salary for his personal performance and the achievement of certain key Company objectives established by the Board. In addition, in connection with Mr. Lamothe’s appointment as the Company’s President and Chief Executive Officer, Mr. Lamothe will receive a one-time promotional award in the amount of $150,000 payable in cash on the Transition Date.

Effective as of the Transition Date, Mr. White will receive an annual base salary of $275,000 and is not eligible for an annual bonus.

On January 30, 2026, the Board approved certain modifications to the Company’s Amended and Restated Senior Management Severance Plan (the “Severance Plan”) to, among other things, (i) align the Executive Chair severance benefits with the Chief Executive Officer level benefits in the Severance Plan and (ii) delete the Executive Vice President level benefits in the Severance Plan. The modifications to the Severance Plan are effective as of the Transition Date.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being filed herewith:

Exhibit No.		Description
99.1		Press Release dated February 3, 2026.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

			APTEVO THERAPEUTICS INC.
Date:	February 3, 2026	By:	/s/ Marvin L. White
			Marvin L. White President and Chief Executive Officer

FAQ

What leadership changes did Aptevo Therapeutics (APVO) announce in this 8-K?

Aptevo announced that Marvin L. White will retire as President and CEO effective April 1, 2026, and become Executive Chair. Chief Operating Officer Jeff Lamothe will be promoted to President and CEO, appointed to the Board as a Class III director, and named the company’s principal executive officer.

What is Jeff Lamothe’s new compensation as CEO of Aptevo (APVO)?

As President and CEO, Jeff Lamothe will receive a $650,000 annual base salary and an annual bonus target equal to 60% of base salary. He will also receive a one-time promotional award of $150,000 in cash, payable on the April 1, 2026 transition date.

How will Marvin L. White’s role and compensation change at Aptevo (APVO)?

Marvin L. White will move from President and CEO to Executive Chair of the Board on April 1, 2026. In this new role, he will receive an annual base salary of $275,000 and will not be eligible for an annual bonus, focusing on mentorship and long-term growth support.

How is Aptevo’s (APVO) Board of Directors changing with this transition?

Effective April 1, 2026, the Board will expand from six to seven directors when Jeff Lamothe joins as a Class III director serving until the 2028 annual meeting. Marvin White becomes Executive Chair, and John E. Niederhuber, M.D. will serve as Lead Independent Director.

What changes were made to Aptevo’s Senior Management Severance Plan?

The Board approved modifications to the Amended and Restated Senior Management Severance Plan effective April 1, 2026. The changes align Executive Chair severance benefits with Chief Executive Officer level benefits and remove the Executive Vice President level benefits, simplifying senior management severance tiers.

Did Marvin L. White resign from Aptevo (APVO) due to a disagreement with management or the Board?

No. The filing states that Marvin L. White’s intention to retire as President and CEO was not because of any disagreement with management or the Board regarding the company’s operations, policies, or practices, indicating a planned and cooperative leadership transition.