Aptevo Therapeutics Inc. 8-K

What Happened

• Aptevo Therapeutics (APVO) announced in an 8-K filed Feb 3, 2026 that Marvin L. White notified the company he will retire as President and Chief Executive Officer effective April 1, 2026 and will transition to Executive Chair on that date. Jeff Lamothe, currently the company’s Chief Operating Officer, will assume the roles of President and Chief Executive Officer effective April 1, 2026. The Board also appointed Lamothe as a Class III director (term to the 2028 annual meeting) and to the Executive Committee, and named John E. Niederhuber, M.D., as Lead Independent Director effective April 1, 2026.

Key Details

• Transition date: April 1, 2026. 8-K filed: February 3, 2026.
• Compensation for Jeff Lamothe as CEO: $650,000 annual base salary; annual bonus target = 60% of base salary; one‑time promotional cash award = $150,000 payable on the Transition Date.
• Marvin L. White as Executive Chair: $275,000 annual base salary; not eligible for an annual bonus.
• Board size increases from six to seven directors effective April 1, 2026.
• Severance Plan changes (approved Jan 30, 2026, effective April 1, 2026): align Executive Chair severance to CEO-level benefits and remove Executive Vice President level benefits.

Why It Matters

• The filing documents an organized leadership succession with the outgoing CEO remaining as Executive Chair to provide continuity and mentorship. For investors, relevant near-term items include a small uplift in executive compensation expense (promotional award and higher CEO base/bonus targets) and a modest change to severance arrangements. The company stated Mr. White’s retirement is not due to disagreement with management or the Board.