INMB director options reset to $1.50 under 2017–2021 incentive plans

Rhea-AI Filing Summary

Inmune Bio, Inc. (INMB) reported a stock option repricing for a director effective as of November 18, 2025. Stockholders approved a one-time adjustment that reduced the exercise price of certain outstanding stock options granted under the company’s 2017, 2019 and 2021 stock incentive plans to $1.50 per share, matching the closing price of Inmune Bio’s common stock on The Nasdaq Capital Market on that date. The filing shows multiple stock option awards where higher exercise prices were replaced by new options at $1.50, while all other terms, including vesting schedules and expiration dates, remain unchanged and continue to depend on the director’s ongoing service.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schroeder Timothy j

(Last) (First) (Middle)

C/O INMUNE BIO INC.

225 NE MIZNER BLVD., SUITE 640

(Street)

BOCA RATON FL 33432

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Inmune Bio, Inc. [ INMB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$7.8	11/18/2025		D(1)			108,000	(2)	04/01/2028	Common Stock	108,000	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		108,000		(2)	04/01/2028	Common Stock	108,000	(1)	108,000	D
Stock Option (right to buy)	$3.91	11/18/2025		D(1)			108,000	(2)	11/24/2029	Common Stock	108,000	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		108,000		(2)	11/24/2029	Common Stock	108,000	(1)	108,000	D
Stock Option (right to buy)	$24.82	11/18/2025		D(1)			15,975	(2)	01/18/2031	Common Stock	15,975	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		15,975		(2)	01/18/2031	Common Stock	15,975	(1)	15,975	D
Stock Option (right to buy)	$17.49	11/18/2025		D(1)			19,025	(2)	06/21/2031	Common Stock	19,025	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		19,025		(2)	06/21/2031	Common Stock	19,025	(1)	19,025	D
Stock Option (right to buy)	$7.92	11/18/2025		D(1)			35,000	(2)	03/20/2032	Common Stock	35,000	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		35,000		(2)	03/20/2032	Common Stock	35,000	(1)	35,000	D
Stock Option (right to buy)	$9.74	11/18/2025		D(1)			35,000	(2)	02/15/2033	Common Stock	35,000	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		35,000		(2)	02/15/2033	Common Stock	35,000	(1)	35,000	D
Stock Option (right to buy)	$5.05	11/18/2025		D(1)			32,500	(2)	12/04/2034	Common Stock	32,500	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		32,500		(2)	12/04/2034	Common Stock	32,500	(1)	32,500	D
Stock Option (right to buy)	$9.92	11/18/2025		D(1)			12,500	(2)	05/13/2034	Common Stock	12,500	(1)	0	D
Stock Option (right to buy)	$1.5	11/18/2025		A(1)		12,500		(2)	05/13/2034	Common Stock	12,500	(1)	12,500	D

Explanation of Responses:

1. Effective as of November 18, 2025 (the "Repricing Date"), the Issuer's stockholders approved a one-time repricing of certain outstanding stock options (the "Repriced Options") granted under the Issuer's 2017 Stock Incentive Plan (the "2017 Plan"), 2019 Stock Incentive Plan (the "2019 Plan"), and Second Amended and Restated 2021 Stock Incentive Plan (as may be amended, restated or otherwise modified from time to time in accordance with its terms, the "2021 Plan") , which reduced the per share exercise price of each Repriced Option to $1.50, representing the closing price of the Issuer's common stock on The Nasdaq Capital Market on the Repricing Date (the "Option Repricing"). Except as modified by the Option Repricing, all other terms and conditions of the Repriced Options, including, without limitation, any provisions with respect to vesting and term of the Repriced Options, remain in full force and effect.

2. This stock option award was issued pursuant to the 2017 Plan, 2019 Plan and/or the 2021 Plan, as applicable, and becomes exercisable in accordance with the vesting schedule specified in the award agreement and as previously reported on applicable Form 4, subject to the Reporting Person's continued service with the Issuer as of the applicable vesting date.

	/s/ Timothy Schroeder	11/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Inmune Bio (INMB) report in this Form 4 filing?

Inmune Bio reported that a director’s existing stock options were repriced as of November 18, 2025, with multiple awards having their exercise prices reduced to $1.50 per share under previously approved stock incentive plans.

What is the new exercise price of the repriced stock options for INMB?

The repriced stock options now carry an exercise price of $1.50 per share, which represents the closing price of Inmune Bio’s common stock on The Nasdaq Capital Market on November 18, 2025.

Which stock incentive plans were affected by Inmune Bio's option repricing?

The repricing applies to certain outstanding stock options granted under Inmune Bio’s 2017 Stock Incentive Plan, 2019 Stock Incentive Plan, and Second Amended and Restated 2021 Stock Incentive Plan.

Did the vesting terms change for the repriced INMB stock options?

No. The filing states that, apart from the reduced exercise price, all other terms and conditions of the repriced options, including vesting and term, remain in full force and effect and depend on the director’s continued service.

Who is the reporting person in this Inmune Bio Form 4 filing?

The reporting person is identified as a director of Inmune Bio, Inc. and filed the Form 4 as a single reporting person. The signature block shows /s/ Timothy Schroeder as the signatory.

Does this INMB filing involve new option grants or only repricing existing options?

The filing describes a one-time repricing of certain outstanding stock options, reducing their exercise price to $1.50 while keeping existing terms in place, rather than creating entirely new awards with different conditions.