Jeffrey Ervin
Allarity TherapeuticsAbout Jeffrey Ervin
Jeffrey S. Ervin, age 48, was appointed Chief Financial Officer of Allarity Therapeutics on a part-time basis effective July 1, 2025 . He holds an MBA in Finance and Strategy from Vanderbilt University’s Owen Graduate School of Management, a BS in Finance from Miami University, and has completed continuing education courses in corporate and internet strategy at Stanford University . Prior roles include founder and CEO of Sanaregen Vision Therapeutics (fractional capacity, Feb 2025–present), co-CFO of DDC Enterprise (NYSE: DDC) in a fractional capacity (Jun 2024–Jan 2025), and chairman/CEO of IMAC Holdings (Nasdaq: BACK) where he led the company through a public listing and expansion; he also previously held a senior finance role at Medx Publishing . He currently serves as an independent director of Cingulate Inc. (Nasdaq: CING) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sanaregen Vision Therapeutics, Inc. | Founder & CEO (fractional) | Feb 2025–present | Clinical-stage biopharmaceutical R&D leadership |
| DDC Enterprise, Ltd (NYSE: DDC) | Co-Chief Financial Officer (fractional) | Jun 2024–Jan 2025 | Public company finance leadership |
| IMAC Holdings, Inc. (Nasdaq: BACK) | Chairman & CEO | Feb 2015–May 2024 | Led IPO (Feb 2019) and national expansion |
| Medx Publishing | Senior finance role | Not disclosed | Senior finance experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Cingulate Inc. (Nasdaq: CING) | Independent Director | Current | ADHD-focused biopharma board service |
Fixed Compensation
| Component | Terms | Notes |
|---|---|---|
| Annual Base Salary | $175,000 | Semi-monthly payroll; part-time CFO |
| Merit Review | Semi-annual review for performance-based increase | Company’s sole discretion |
| Paid Vacation | Unlimited, subject to operational needs | |
| Company Devices | Laptop/phone provided; subject to IT policy | Return required upon termination |
| Expense Reimbursement | Reasonable documented business expenses reimbursed; monthly reporting; optional corporate card | 30-day reimbursement timeline |
Performance Compensation
| Incentive Type | Metric(s) | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Annual Bonus | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
| Equity Awards | Not disclosed in Employment Agreement | Not disclosed | Not disclosed | Not disclosed |
The Ervin Employment Agreement and related 8-K do not specify bonus or equity grant terms for Mr. Ervin; only base salary and severance terms are disclosed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (Record Date: Apr 16, 2025) | As of the 2025 proxy record date, none of Allarity’s directors or executive officers beneficially owned shares; shares outstanding were 17,075,338. Mr. Ervin was appointed thereafter (July 1, 2025); no ownership for him was disclosed in the proxy . |
| Stock Ownership Guidelines | Not disclosed . |
| Hedging Policy | The board has not adopted any specific hedging practices/policies for officers and directors . |
| Clawback Policy | Company adopted a compensation recovery policy compliant with SEC/Nasdaq rules; awards under the 2021 Plan are subject to clawback/recoupment . |
| Pledging | 2021 Equity Incentive Plan permits pledging/escrow of shares in connection with promissory notes for award purchases; no disclosure of executive share pledging practices . |
Employment Terms
| Term | Provision |
|---|---|
| Agreement Date | Employment Agreement dated July 1, 2025 (Exhibit 10.1 to 8-K) . |
| Position & Reporting | Part-time CFO; reports to CEO and interfaces with Audit Committee as requested . |
| At-Will & Notice | Terminable by either party with 30 days’ prior written notice; Board may accelerate termination date with pay through original notice period . |
| Change-of-Control (CoC) Severance | If terminated as a result of CoC, severance equals six months’ base salary via salary continuation, conditioned on timely general release . |
| Death/Disability | Immediate termination upon death; termination upon written notice for disability . |
| Confidentiality & Trade Secrets | Broad confidentiality obligations; DTSA whistleblower protection noted; return of company information upon termination . |
| IP Assignment | Inventions and related IP created within scope of employment assigned exclusively to Company . |
| Non-Compete | Six-month post-termination restriction; scope covers cancer therapeutics and DRP/predictive biomarker technologies in U.S., Europe, and countries where Company operates or plans to operate; passive holdings up to 2% allowed . |
| Non-Solicit & Non-Disparagement | Non-solicit of employees/advisors/vendors during the restricted period; mutual non-disparagement . |
Performance & Track Record
- Signed CFO certifications for Q2 2025 10-Q (Exhibit 31.2), indicating responsibility for disclosure controls/internal controls as principal financial officer .
- Background achievements include leading IMAC Holdings through a Nasdaq IPO and national expansion; fractional CFO role at DDC Enterprise; founder/CEO role at Sanaregen Vision Therapeutics; independent director at Cingulate .
Compensation Committee & Governance Context
- Compensation Committee members: Gerald W. McLaughlin, Joseph W. Vazzano, Laura E. Benjamin; committee oversees executive compensation policy, incentive plans, employment agreements, and risk assessment of compensation practices .
- Emerging Growth Company status: exempt from say-on-pay votes and CEO pay ratio disclosures under JOBS Act .
- 2021 Plan amendment proposed to increase share reserve from 717,941 to 3,415,068; awards subject to clawback; plan permits option/SAR repricing without prior stockholder approval .
Related Party & Conflicts
- 8-K states no transactions since the prior fiscal year exceeding $120,000 involving Mr. Ervin or immediate family, and no family relationships with directors/executives .
Investment Implications
- Part-time CFO structure with concurrent external affiliations is explicitly disclosed, which may indicate constrained time allocation but provides experienced public company leadership; monitoring future filings for any shift to full-time status is prudent .
- Current disclosures show no bonus targets or equity grants for Mr. Ervin, and management ownership was zero as of the proxy record date; combined, these facts suggest limited immediate equity alignment and minimal insider selling pressure unless future equity awards are granted .
- CoC severance of six months’ base salary is modest versus common market multiples, limiting golden-parachute risk; restrictive covenants (non-compete/non-solicit) reduce post-departure competitive risk .
- Governance policies include an adopted clawback while lacking a specific hedging prohibition; plan-level ability to reprice options/SARs without stockholder approval warrants vigilance on future equity award practices .