Tevi Troy
About Tevi Troy
Tevi Troy, 58, is an independent director of Avalon GloboCare (ALBT), serving on the board since June 4, 2018; he is a former U.S. Deputy Secretary of Health and Human Services (confirmed August 3, 2007) with extensive White House and Capitol Hill policy experience and is currently a Senior Fellow at the Ronald Reagan Institute and Senior Scholar at Yeshiva University’s Straus Center . He holds a B.S. in Industrial and Labor Relations from Cornell and an M.A./Ph.D. in American Civilization from the University of Texas at Austin .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Department of Health and Human Services | Deputy Secretary (COO of department) | — | Led operations of HHS with $716B budget and 67,000+ employees |
| The White House | Deputy Assistant/Acting Assistant to the President for Domestic Policy | — | Senior policy leadership in the Executive Office |
| U.S. Senate | Policy Director for Sen. John Ashcroft | — | Legislative policy leadership |
| U.S. House of Representatives (House Policy Committee) | Senior Domestic Policy Adviser, later Domestic Policy Director | — | Legislative policy strategy |
| American Health Policy Institute | Founder & CEO | — | Established health policy think tank |
| Hudson Institute | Senior Fellow | — | Health policy research leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ronald Reagan Institute | Senior Fellow | — | Governance/leadership scholarship |
| Yeshiva University – Straus Center | Senior Scholar | — | Academic scholarship |
| Washingtonian | Contributing Editor | — | Editorial role |
| National Affairs | Publication Committee Member | — | Editorial governance |
| Jewish Policy Center | Board of Fellows | — | Policy board member |
| Potomac Institute | Senior Fellow | — | Policy research |
| Bipartisan Commission on Biodefense | Member | — | Biodefense policy |
| XBiotech Inc. | Director nominee (public company) | 2025 | Nominated to the board per 2025 DEF 14A; independence noted by XBiotech |
Board Governance
- Independence: The board determined Dr. Troy is independent under Nasdaq and SEC rules .
- Committees and chair roles (2024 activity levels shown):
- Audit Committee: Member (Chair: William Stilley); met 4 times in 2024 .
- Compensation Committee: Member (Chair: Lourdes Felix); met 2 times in 2024 .
- Nominating & Corporate Governance Committee: Member (Chair: Steven Sanders); met 1 time in 2024 .
- Attendance: Company reports each director attended at least 75% of aggregate board and committee meetings in 2024 .
- Board structure: Separate Chair and CEO roles; no lead independent director disclosed .
- Policies supporting governance: Anti-hedging policy for directors; equity plan subject to clawback policy adopted Nov 16, 2023 .
Fixed Compensation
| Year | Annual Retainer/Fees (Cash) | Meeting Fees | Other Cash | Total Cash |
|---|---|---|---|---|
| 2024 | $60,000 | — | — | $60,000 |
| 2023 | $60,000 | — | — | $60,000 |
Performance Compensation
| Year | Equity Type | Quantity/Detail | Grant/Accounting Fair Value |
|---|---|---|---|
| 2024 | Options (vested) | 533 options vested | $2,697 |
| 2023 | Options (vested) | 8,000 options vested | $33,665 |
Performance metrics table (directors)
| Metric Type | Disclosure |
|---|---|
| Performance conditions for director equity | None disclosed; director equity shown as options with stated grant-date fair values; no performance targets detailed |
Other Directorships & Interlocks
| Company | Role | Status | Committees/Notes |
|---|---|---|---|
| Avalon GloboCare (ALBT) | Director (Independent) | Current | Audit; Compensation; Nominating & Governance (member) |
| XBiotech Inc. | Director nominee | 2025 nomination | DEF 14A includes Dr. Troy as nominee; board independence noted by issuer |
No related-party transactions disclosed for Dr. Troy in ALBT’s related-person transactions section for 2023–2025; related-party items involved other directors/officers (e.g., Chairman Lu’s lease/financing arrangements; consulting by Director Tauzin) .
Expertise & Qualifications
- Health policy and government operations expertise (Deputy Secretary HHS; Executive Office policy roles) .
- Multicommittee board experience at ALBT (Audit, Compensation, Nominating & Governance) .
- Academic and policy affiliations (Reagan Institute; Yeshiva University; policy boards/commissions) .
- Advanced degrees in American Civilization; undergraduate in ILR, supporting labor/policy acumen .
Equity Ownership
| Item | Value |
|---|---|
| Total beneficial ownership | 2,665 shares (via options exercisable within 60 days) |
| Ownership as % of outstanding | <1% |
| Vested vs. unvested | 2,665 options exercisable within 60 days; additional breakdown not disclosed |
| Shares outstanding reference | 4,252,009 shares outstanding as of Oct 31, 2025 |
Governance Assessment
-
Strengths:
- Independent director with deep health policy experience and multi-committee service (Audit, Compensation, Nominating), enhancing oversight breadth .
- Company reports ≥75% attendance per director in 2024; Audit met 4x, Compensation 2x, Nominating 1x, indicating functioning committees .
- Anti-hedging policy and a board-adopted clawback framework (Amended & Restated 2020 Plan) support investor alignment and accountability .
-
Watch items / alignment considerations:
- Low personal ownership alignment: Dr. Troy beneficially owns 2,665 shares (<1%); equity exposure is modest for an independent director .
- Company-level related-party exposure exists (e.g., lease with Chairman Lu; consulting fees involving Director Tauzin), though no transactions were disclosed for Dr. Troy; Audit Committee reviews related-party transactions .
- Nasdaq listing risk: In May 2025 ALBT received a notice of non-compliance with the minimum stockholders’ equity requirement; while a company-level issue, it heightens the need for robust audit/finance oversight by independent directors including Dr. Troy .
-
Compensation mix and trend:
- Director compensation for Dr. Troy skews to fixed cash ($60k in both 2023 and 2024), with a sharp reduction in option grant fair value from 2023 to 2024 ($33,665 → $2,697), indicating a decreased equity component YoY .
-
RED FLAGS (context for governance risk monitoring):
- Low ownership alignment (<1% beneficial ownership) .
- Company-level related-party transactions (not involving Dr. Troy) require continued vigilance by independent directors .
- Nasdaq compliance notice regarding stockholders’ equity in 2025 (company-level) .