IMMUNIC, INC. — Director's Dealing 2025

Jul 18, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMMUNIC, INC. (IMUX)
CIK: 0001280776
Period of Report: 2025-07-16

Reporting Person: Tardio Jason (President and COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-07-16	Stock Appreciation Right	$0.77	A	330000	Acquired	2035-07-16	Common Stock (330000)	Direct
2025-07-16	Stock Appreciation Right	$0.77	A	660000	Acquired	2035-07-16	Common Stock (660000)	Direct
2025-07-16	Stock Appreciation Right	$0.77	A	660000	Acquired	2035-07-16	Common Stock (660000)	Direct
2025-07-16	Stock Appreciation Right	$0.77	A	330000	Acquired	2035-07-16	Common Stock (330000)	Direct
2025-07-16	Stock Appreciation Right	$0.77	A	330000	Acquired	2035-07-16	Common Stock (330000)	Direct

Footnotes

F1: The Stock Appreciation Rights ("SARs") could be settled for cash, but it is the intention of the Issuer that these SARs will be settled for shares of the Issuer's common stock, par value $0.0001 per share ("Common Stock") provided the Issuer obtains stockholder approval to amend the Issuer's 2019 Omnibus Equity Incentive Plan, as amended, to provide for a sufficient number of shares of Common Stock to support the settlement of the SARs in shares of Common Stock.

F2: Exercisable beginning August 1, 2026, subject to the exercise of the Issuer's series A purchase warrants by the holders thereof.

F3: Exercisable beginning August 1, 2026, subject to the exercise of the Issuer's series B purchase warrants by the holders thereof.

F4: Exercisable beginning August 1, 2026, subject to the Issuer's issuance of Common Stock or pre-funded warrants to subscribers in connection with the second tranche of the Issuer's January 4, 2024 private placement (the "January 2024 Offering").

F5: Exercisable beginning August 1, 2026, subject to the Issuer's issuance of Common Stock or pre-funded warrants to subscribers in connection with the third tranche of the January 2024 Offering.