iBio Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events	3 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	23. Subsequent Events On October 12, 2022, the Company entered into an equipment financing master lease agreement and a lease supplement whereby $500,000 was borrowed over 36 months at an interest rate of 5.6% and securitized by certain assets purchased for the San Diego research site. On November 10, 2022, as previous disclosed in relation to the Employment Agreement with Thomas F. Isett 3^rd, the Company’s Chief Executive Officer, dated April 30, 2021, the Company granted Mr. Isett RSUs to acquire 200,000 shares of common stock, $0.001 par value per share (the “Common Stock”), on a post-split basis. The RSUs vest over a three-year period commencing April 30, 2021 provided the vesting is subject to the following performance conditions: (i) submission to the U.S. Food and Drug Administration (FDA) of an Investigational New Drug (IND) application, or alternatively, if the Board approves not to file an IND, (ii) consummation of a disposition of iBio CDMO, LLC, or (iii) outlicensing, with full global rights, any of its investigational product candidates prior to the submission to the FDA an IND application. The grant-date fair value of the RSUs totaled approximately $296,000. On November 11, 2022, the Company granted Mr. Robert Lutz, the Company’s Chief Financial and Business Officer, RSUs to acquire 100,057 shares of the Company’s Common Stock in exchange for Mr. Lutz’ agreement to continue employment with the Company through July 1, 2023. The RSUs vest the earlier of: (i) July 1, 2023, or (ii) the successful achievement of the Company’s 2023 objectives, as defined by the Board of Directors. The grant-date fair value of the RSUs totaled approximately $175,100. On November 11, 2022, the Company granted Mr. Martin Brenner, the Company’s Chief Scientific Officer, RSUs to acquire 95,348 shares of the Company’s Common Stock in exchange for Mr. Brenner’s agreement to continue employment with the Company through July 1, 2023. The RSUs vest the earlier of: (i) July 1, 2023, or (ii) the successful achievement of the Company’s 2023 objectives, as defined by the Board of Directors. The grant-date fair value of the RSUs totaled approximately $166,860

Subsequent Events

3 Months Ended

Sep. 30, 2022

23. Subsequent Events

On October 12, 2022, the Company entered into an equipment financing master lease agreement and a lease supplement whereby $500,000 was borrowed over 36 months at an interest rate of 5.6% and securitized by certain assets purchased for the San Diego research site.

On November 10, 2022, as previous disclosed in relation to the Employment Agreement with Thomas F. Isett 3^rd, the Company’s Chief Executive Officer, dated April 30, 2021, the Company granted Mr. Isett RSUs to acquire 200,000 shares of common stock, $0.001 par value per share (the “Common Stock”), on a post-split basis. The RSUs vest over a three-year period commencing April 30, 2021 provided the vesting is subject to the following performance conditions: (i) submission to the U.S. Food and Drug Administration (FDA) of an Investigational New Drug (IND) application, or alternatively, if the Board approves not to file an IND, (ii) consummation of a disposition of iBio CDMO, LLC, or (iii) outlicensing, with full global rights, any of its investigational product candidates prior to the submission to the FDA an IND application. The grant-date fair value of the RSUs totaled approximately $296,000.

On November 11, 2022, the Company granted Mr. Robert Lutz, the Company’s Chief Financial and Business Officer, RSUs to acquire 100,057 shares of the Company’s Common Stock in exchange for Mr. Lutz’ agreement to continue employment with the Company through July 1, 2023. The RSUs vest the earlier of: (i) July 1, 2023, or (ii) the successful achievement of the Company’s 2023 objectives, as defined by the Board of Directors. The grant-date fair value of the RSUs totaled approximately $175,100.

On November 11, 2022, the Company granted Mr. Martin Brenner, the Company’s Chief Scientific Officer, RSUs to acquire 95,348 shares of the Company’s Common Stock in exchange for Mr. Brenner’s agreement to continue employment with the Company through July 1, 2023. The RSUs vest the earlier of: (i) July 1, 2023, or (ii) the successful achievement of the Company’s 2023 objectives, as defined by the Board of Directors. The grant-date fair value of the RSUs totaled approximately $166,860