Beth Jantzen

About Beth Jantzen

Beth M. Jantzen is Chief Financial Officer of Applied DNA Sciences (APDN), serving as CFO since February 15, 2015 after serving as Controller from May 2013; she previously spent 13 years at Marcum LLP as a senior manager specializing in SEC policies and Sarbanes-Oxley compliance. She holds a B.S. in Accounting from SUNY Binghamton and is a CPA; her age was 46 as of July 21, 2023 . Company performance during her recent tenure includes FY2024 total revenues of $3.43M vs. $13.37M in FY2023, with gross profit declining to $1.02M from $5.53M and loss from operations widening to $(14.0)M from $(11.0)M; the revenue contraction was driven primarily by the wind-down of COVID-19 testing services, while SG&A decreased year-over-year due to no officer bonuses paid in FY2024 .

Past Roles

External Roles

Fixed Compensation

Performance Compensation

Incentive Structure and Awards

Outstanding Equity Awards (as of Sept 30, 2025)

Note: 2023 option awards vest 25% per year on each of the first four anniversaries (Mar 23, 2024–2027) .

Equity Ownership & Alignment

• Stock ownership guidelines: Awards subject to company stock ownership policies; specific multiples not disclosed .
• Hedging policy: As of Aug 2023, Board had not adopted a hedging policy for directors, officers, employees .
• Pledging: Plan documents contemplate restrictions/legends including pledge references; no disclosure of shares pledged by Jantzen .

Employment Terms

Compensation Structure Analysis

• Shift in pay mix: FY2025 compensation includes one-time cash bonus ($150k) and time-based RSUs vesting in 90 days, plus one-year quarterly vesting options—tilts pay toward near-term cash and time-based equity vs. longer, performance-tied structures .
• Performance linkage: Transaction/restructuring bonus directly ties payout to corporate strategic actions via 5% of net proceeds or net cash retained—creates deal-driven incentive alignment .
• FY2024 discipline: Company reported SG&A decreases due in part to reversal of officer bonus accruals, indicating tighter cash/bonus discipline in FY2024 .
• Equity grant timing/governance: Board disclosure of not timing grants around MNPI and avoiding closed windows reduces grant timing risk .

Track Record, Value Creation, and Execution Risk

• Financing and capital structure: FY2024 featured multiple warrant-related accounting effects (unrealized gains/losses, loss on issuance) and offerings; CFO oversight likely encompassed these transactions and compliance impacts .
• Operating performance: Revenues fell materially due to COVID testing wind-down; segment losses broadened in FY2024, highlighting execution challenges in transitioning revenue mix .
• Governance changes: Multiple leadership transitions in 2025; CFO continuity retained with new Employment Agreement, mitigating transition risk in finance function .

Risk Indicators & Red Flags

• Hedging policy absence: As of Aug 2023, no board-adopted hedging policy—potential alignment concern if unchanged; current status not updated in later filings .
• Low direct ownership: Beneficial ownership at recent dates is de minimis (<1%), reducing “skin-in-the-game” alignment .
• Quick RSU vesting: Oct 17, 2025 RSUs vest after 90 days, potentially increasing short-term selling pressure upon vest, subject to trading windows .
• Clawback coverage: Plan-level clawback language exists, supporting shareholder protections .
• Related party transactions: Company disclosed none involving Jantzen requiring Item 404(a) reporting .

Compensation Peer Group & Committee Practices

• Compensation committee independence affirmed; prior use of independent consultant Compensia for market assessment and formula-based grants in FY2022 .
• Equity plan amendments and share reserve increases put to shareholder vote in 2024 to support future equity grants .

Expertise & Qualifications

• Education and credentials: B.S. in Accounting; CPA .
• Technical expertise: SEC reporting, SOX compliance; public company financial controls .
• Tenure: CFO since Feb 15, 2015; Controller before that .

Fixed Compensation (Historical Context)

Ownership Timeline (Detailed)

Employment Contracts, Severance, and Change-of-Control Economics

• Termination without cause or resignation for good reason: Cash severance equal to $400,000 (or then-current base salary) plus accrued benefits .
• Change-in-control/death/disability: Receives same payments/benefits as a without-cause termination except salary continuation; trigger structure details beyond this not further specified .
• Performance/deal bonus: 5% of net proceeds from strategic transaction or net absolute cash retained at restructuring .
• Clawbacks and policies: Awards subject to clawback; stock ownership policies apply; grant timing avoids closed windows and MNPI considerations .

Investment Implications

• Alignment: Very low direct ownership and presence of short-vesting RSUs point to modest long-term alignment; clawbacks and insider-trading window practices provide governance mitigants .
• Deal incentives: The 5% transaction/restructuring bonus creates a strong incentive toward strategic deals or restructurings that generate net proceeds/cash retention—could be a catalyst for corporate actions .
• Retention risk: New Employment Agreement with $400k base salary, $150k one-time bonus, and near-term vesting equity likely stabilizes retention in the near term; severance equal to one year of salary provides downside protection .
• Selling pressure: RSUs vesting 90 days post-grant (Oct 17, 2025) could create near-term supply upon vest, subject to trading windows and personal choices; monitor Form 4 filings around vest dates .
• Operating execution: FY2024 revenue declines and expanded operating losses underscore execution risk in pivoting away from legacy COVID testing; finance leadership will be critical in managing capital markets activity and cash discipline .