Kameel Farag
About Kameel Farag
Kameel Farag, 47, is Akari Therapeutics’ Interim Chief Financial Officer, appointed effective October 22, 2025; he signs the company’s Q3 2025 10-Q as Interim CFO on November 13, 2025 . He previously served as CFO/Treasurer/Head of Compliance at Aspen Neuroscience (2021–2025), SVP Finance at Ionis (2018–2021), and spent 16+ years at Amgen including CFO of the Intercontinental Region; he holds a BA from the University of California, Santa Barbara . Akari is pre-revenue with no product revenue; given his short tenure, TSR or financial performance under his leadership is not yet meaningful in filings .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Aspen Neuroscience | CFO, Treasurer, Head of Compliance | 2021–2025 | Oversaw tripling headcount; secured $150+ million financing; built manufacturing infrastructure; IPO readiness |
| Ionis Pharmaceuticals | SVP, Finance | 2018–2021 | Senior finance leadership at a large RNA therapeutics company |
| Amgen | CFO, Intercontinental Region; Head of International FP&A; Interim International CFO; various finance/operational roles | 2009–2018 (key roles); 16+ years total | Led regional finance; international FP&A; interim international CFO responsibilities |
External Roles
| Organization | Role | Committee/Notes | Years |
|---|---|---|---|
| BioVie Inc. (NASDAQ: BIVI) | Director | Audit committee member | Current as of Oct 2025 |
Fixed Compensation
Interim CFO engagement via consulting agreement with KDF Ventures LLC.
| Period | Cash compensation | Structure/notes |
|---|---|---|
| Oct–Dec 2025 | $18,000 per month | Consulting agreement effective Oct 20, 2025; Farag serves as non-employee Interim CFO |
| Jan 1–Feb 15, 2026 | $27,000 per month | Term set through Feb 16, 2026; extendable month-to-month |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting/notes |
|---|---|---|---|---|---|
| Transaction-based compensation tied to capital raises | Not disclosed | Not disclosed | Not disclosed | Cash and RSUs based on a percentage of total gross proceeds, subject to maximum limits | Applies to certain capital raises during the consulting term |
| Time-based RSUs (monthly) | N/A (service-based) | N/A | N/A | RSU value per month (see below) | Monthly RSUs vest at end of month per SOW; later amended schedule described below |
Interim CFO RSU grants per agreement/amendment:
| Grant date | RSU grant value | Vest date | Notes |
|---|---|---|---|
| Oct 22, 2025 | $4,645 | Oct 31, 2025 | As amended Oct 31, 2025 |
| Nov 1, 2025 | $24,000 | Jan 1, 2026 | As amended Oct 31, 2025 |
| Nov 1, 2025 | $19,964 | Feb 15, 2026 | As amended Oct 31, 2025 |
| Ongoing (original SOW) | $12,000 RSUs per month (Oct–Dec 2025); $13,000 RSUs per month (Jan–Feb 15, 2026) | Last calendar day of each month | Each monthly RSU vests in full at month-end, subject to service; October/February prorated |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 12,554,000 ordinary shares issuable upon vesting/settlement of restricted stock award grants; less than 1% of outstanding as of Oct 31, 2025 |
| Section 16 Form 3 at appointment | Reported no securities beneficially owned as of 10/22/2025 (filed 10/24/2025) |
| Vested vs unvested | Company table denotes RSUs “issuable upon vesting,” suggesting unvested awards; detailed breakout not disclosed |
| Pledging/hedging policy | Insider trading policy prohibits short sales, hedging devices and use of company securities to secure a margin or other loan, except in limited circumstances with prior approval |
| Clawback policy | Formal clawback policy adopted Nov 2023 requiring recovery of incentive-based compensation from current/former executive officers after certain restatements |
Employment Terms
| Term | Detail |
|---|---|
| Start date and role | Appointed Interim CFO effective Oct 22, 2025 |
| Engagement structure | Consulting Agreement among Akari, KDF Ventures LLC, and Kameel Farag; Farag serves as non-employee Interim CFO |
| Term | Ends Feb 16, 2026; extendable month-to-month at company’s discretion |
| Duties and reporting | Performs all duties of a CFO; reports to CEO and Audit Committee Chair; oversight of SEC filings and coordination with auditors |
| Compensation terms | Cash monthly fee plus monthly RSU value (see compensation sections); transaction-based compensation for certain capital raises (cash and RSUs), subject to caps |
| Vesting | Monthly RSUs vest in full on the last calendar day of the month per SOW; amended grants have specific vest dates as listed |
| Payment terms and expenses | Payment terms net 30; company reimburses approved travel per policy; other expenses are consultant’s responsibility |
| Governing law and enforcement | Delaware law; equitable relief (injunction/specific performance) available; prevailing party entitled to reasonable attorneys’ fees |
| Severance / change-of-control | The 8-K summary and SOW excerpts do not describe severance or change-of-control payments for the Interim CFO consulting engagement |
Investment Implications
- Pay-for-performance alignment: As Interim CFO, equity is primarily time-based RSUs; no operational performance metrics disclosed for his equity. However, a transaction-based component ties incremental compensation to successful capital raises, aligning incentives to financing milestones important for a pre-revenue biotech .
- Vesting and potential selling pressure: Monthly vesting of RSUs can create incremental supply when awards settle, though no Form 4 transactions were located in available filings as of his appointment period; monitoring future Form 4s is prudent .
- Retention and flexibility: The consulting structure (through Feb 16, 2026 with month-to-month extension) provides the company flexibility but implies shorter-term engagement compared to an employee agreement; no severance or change-of-control protections are described in the 8-K summary/excerpts, which may limit retention economics but reduce shareholder risk of guaranteed payouts .
- Governance safeguards: Company-wide clawback and anti-hedging/pledging policies apply to executive officers, supporting alignment and risk mitigation .
- Skin-in-the-game: Beneficial ownership as of Oct 31, 2025 reflects 12,554,000 ordinary shares issuable on vesting (<1%), appropriate for a newly appointed interim officer; future awards or open-market purchases could increase alignment over time .
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