Armata Pharmaceuticals Appoints CFO David House; Compensation, Change-in-Control Terms

What Happened
Armata Pharmaceuticals (ARMP) announced on July 17, 2026 that it promoted David House to Chief Financial Officer, effective that date. Mr. House had served as the Company’s Senior Vice President, Finance and principal financial officer since August 2024. The company and Mr. House executed an employment letter (the “House Agreement”) setting his base salary, bonus target, equity eligibility and certain severance and change-in-control provisions. On the same date, Armata amended the Chief Business Officer Pierre Kyme’s employment letter to conform the “change in control” definition to the House Agreement.

Key Details

• Effective date: July 17, 2026.
• Base salary: $371,315 per year.
• Target bonus: 50% of base salary (actual bonus discretionary, payable based on performance). Board/compensation committee may increase the target percentage over time.
• Equity: Eligible for annual equity awards beginning in 2026; compensation committee’s current intent is to grant awards with an approximate grant-date fair value of $300,000 each fiscal year (no entitlement to specific awards). Vesting will follow the same basis as other senior execs.
• Severance: If terminated without “Cause” (other than death/disability) or if he resigns for “Good Reason,” and he signs a separation agreement and complies with restrictive covenants, he will continue to receive his then-current base salary for 12 months.
• Change-in-control protection: If Mr. House is involuntarily terminated within one month before or 12 months after a Change in Control, all time-based equity awards will vest in full as of the termination date (or, if later, the Change in Control). The Kyme amendment aligns Kyme’s “change in control” definition with this definition.

Why It Matters
This is an internal CFO promotion that signals continuity in financial leadership: Mr. House has already been principal financial officer since 2024. The disclosed salary, bonus target and equity intentions set expectations for Armata’s executive compensation expense and potential equity dilution. The severance and change-in-control acceleration terms could affect future cash and equity outcomes in the event of an executive departure or a corporate transaction; investors should note these protections when assessing governance and potential transaction-related costs.