Monitor the say-on-pay vote result for signs of shareholder discontent given the steep TSR decline. Also watch for any subsequent equity or debt offerings given the cash conservation measures and deferred salaries.
Price Chart
Executive Summary
AIM ImmunoTech Inc. filed its definitive proxy statement for the 2026 Annual Meeting of Stockholders, scheduled for November 17, 2026. The filing proposes the election of five director nominees, ratification of BDO USA, P.C. as independent auditor, and an advisory vote on executive compensation. The company is a pre-commercial stage biotech with a net loss of $13.96 million in 2025, and its CEO total compensation was $822,983 in 2025, down from $1.09 million in 2024, reflecting voluntary salary deferrals and waived bonuses due to cash conservation.
Key Facts
- Annual Meeting to be held virtually on November 17, 2026; record date September 28, 2026.
- Five director nominees: Nancy K. Bryan, David I. Chemerow, Thomas K. Equels, Ted D. Kellner, William M. Mitchell.
- Proposal 2: Ratify BDO USA, P.C. as independent auditor for FY2026.
- Proposal 3: Non-binding advisory vote on named executive officer compensation.
- CEO Thomas K. Equels total compensation for 2025 was $822,983 (down from $1,089,725 in 2024).
- NEOs voluntarily waived all 2024 and 2025 bonus and option awards to conserve cash.
- Approximately $141,667 of CEO salary and $70,833 of COO salary voluntarily deferred in 2025 due to cash flow concerns.
- Net loss for 2025 was $13,958,000, improved from $17,320,000 in 2024.
- Total shareholder return on a $100 investment declined from $63.87 at end of 2024 to $3.64 at end of 2025.
- BDO audit fees for 2025 were $774,400; total fees $826,650.
- No shareholder proposals were included in the proxy statement.
- Last year's say-on-pay approval rate not disclosed in the filing.
- All director nominees are incumbents; no contested election.
- No related party transactions disclosed beyond executive employment agreements.
- No governance changes (bylaw amendments, classified board, poison pill) proposed.
Financial Impact
CEO total compensation $822,983 (2025) vs $1,089,725 (2024); net loss $13.96M (2025) vs $17.32M (2024); TSR on $100 investment fell from $63.87 to $3.64.
Risk Factors
- Pre-commercial stage with ongoing net losses and negative cash flow from operations.
- CEO and COO voluntarily deferred salary due to cash flow concerns, indicating potential liquidity pressure.
- Dramatic decline in total shareholder return from $63.87 to $3.64 on a $100 investment over one year.
- No shareholder proposals were included, suggesting limited activist pressure at this time.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001493152-26-045102 |
| Document: 0001493152-26-045102-index-headers.html | 0001493152-26-045102 |
| Document: 0001493152-26-045102-index.html | 0001493152-26-045102 |
| Document: 0001493152-26-045102.txt | 0001493152-26-045102 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 25d ago | DEF 14A | $0.1877 | awaiting T+20 | — | $0.1600 (−14.76%) |
Sep 22, 2026 4w ago | Press Release | $0.2156 $0.1662 | ▼ −22.91% | ▼ −22.35% | $0.1600 (−25.79%) |
Sep 14, 2026 5w ago | 8-K | $0.2100 | awaiting T+20 | — | $0.1600 (+23.81%) |
Aug 11, 2026 10w ago | 8-K | $0.2500 $0.2332 | ▼ −6.72% | ▼ −5.66% | $0.1600 (−36.00%) |
Aug 10, 2026 10w ago | 8-K | $0.2630 | awaiting T+20 | — | $0.1600 (+39.16%) |
Aug 10, 2026 10w ago | Press Release | $0.2630 | awaiting T+20 | — | $0.1600 (+39.16%) |
Aug 5, 2026 11w ago | 8-K | $0.2800 $0.2346 | ▼ −16.21% | ▼ −15.61% | $0.1600 (−42.86%) |
Aug 3, 2026 11w ago | Press Release | $0.2600 $0.2260 | ▼ −13.08% | ▼ −14.31% | $0.1600 (−38.46%) |
Jun 24, 2026 17w ago | EFFECT | $0.3740 $0.2534 | ▲ +32.25% | ▲ +34.18% | $0.1600 (+57.22%) |
Jun 18, 2026 18w ago | S-1 | $0.3799 $0.2730 | ▲ +28.14% | ▲ +28.67% | $0.1600 (+57.88%) |
US Market Status
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