Mark Spring
About Mark Spring
Mark Spring is Chief Financial Officer and Treasurer of Artelo Biosciences, serving as principal financial officer and principal accounting officer effective November 1, 2025 . He holds a BA in Business Administration from Monmouth College, completed post‑graduate studies at the University of Texas, Dallas, and is a Certified Public Accountant . He signed Sarbanes‑Oxley 302 and 906 certifications on Artelo’s Q3 2025 Form 10‑Q, evidencing his role in disclosure controls and internal control over financial reporting . His tenure began in Q4 2025; performance metrics such as TSR, revenue growth, or EBITDA growth tied to his tenure are not disclosed in reviewed filings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LENZ Therapeutics | Interim CFO | Not disclosed | Interim CFO through a reverse merger transaction |
| Secura Bio | Co‑founder and CFO | Not disclosed | Finance leadership at a commercial‑stage oncology therapeutics company |
| Hyperion Therapeutics | CFO | Not disclosed | Senior finance leadership |
| Prometheus Laboratories | CFO | Not disclosed | Senior finance leadership |
| Veracyte | CFO | Not disclosed | Senior finance leadership |
| Sotera Wireless | CFO | Not disclosed | Senior finance leadership |
| Genoptix | CFO | Not disclosed | Senior finance leadership |
External Roles
No external public company board roles or committee positions are disclosed in the reviewed filings .
Fixed Compensation
| Component | Amount / Term | Notes |
|---|---|---|
| Base Salary | $250,000 per year | Effective with start date; subject to review |
| Target Bonus % | 35% of Base Salary | Annual bonus eligibility begins with calendar year 2026; objectives set by Compensation Committee |
| Actual Bonus Paid (2025) | Not disclosed | Bonus eligibility begins 2026 |
| Benefits | Standard executive benefits; PTO; expense reimbursement | Company reserves right to change plans |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|
| Annual Cash Bonus | Up to 35% of Base | Target = 35% of Base | Not disclosed | Paid after Committee determination; no later than March 15 following the calendar year earned | N/A (cash) |
| Equity Awards (Options/Other) | Determined by Board/Committee | Not disclosed | Not disclosed | Awards at Board/Committee discretion | CIC accelerates 100% of unvested equity upon qualifying termination; options exercisable for 12 months post‑termination (subject to option term) |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Options exercisable within 60 days (as of Nov 10, 2025) | 1,562 shares subject to options exercisable within 60 days |
| Reported derivative holdings (Form 3) | Stock options (right to buy) for 5,000 shares and 2,500 shares, exercise price $11.03, expiration 07/02/2035, owned directly |
| Vested vs. unvested breakdown | Not disclosed; Form 3 notes “Date Exercisable (1)/(2)” without full footnote text |
| Pledging/Hedging | Not disclosed in reviewed filings |
| Ownership guidelines and compliance | Not disclosed in reviewed filings |
Employment Terms
| Provision | Outside Change in Control (CIC) | Within CIC Period (3 months before to 12 months after) |
|---|---|---|
| Employment | At‑will | At‑will |
| Cash Severance | 12 months of Base Salary | Lump‑sum 150% of Base Salary |
| Bonus at Termination | Pro‑rated annual bonus based on actual achievement | Greater of pro‑rated actual bonus or pro‑rated Target Bonus |
| Health (COBRA) | Reimbursement up to 12 months | Reimbursement up to 18 months |
| Equity Vesting | Not specified to accelerate outside CIC | Full acceleration of unvested equity; performance awards vest at greater of target or actual to date |
| Option Exercise Window | Not specified outside CIC | 12 months post‑termination (to extent vested; not beyond max term) |
| Trigger Structure | N/A | Double‑trigger (requires qualifying termination in CIC period) |
| Clawback | Severance subject to Company compensation recovery policy | |
| Arbitration/Governing Law | Arbitration per Confidential Information Agreement; California law governs Employment Agreement | |
| Non‑compete / Non‑solicit / Garden leave | Not disclosed in reviewed filings |
Investment Implications
- Alignment and retention: Cash compensation is modest for a NASDAQ‑listed biotech CFO ($250k base, 35% target bonus), with significant CIC protections indicating market‑standard retention design; the double‑trigger and 100% equity acceleration in CIC can create supply overhang if a transaction coincides with termination .
- Transparency risk: Bonus performance objectives and equity grant specifics are at the Compensation Committee’s discretion and not disclosed, reducing pay‑for‑performance visibility for investors until grants and metrics are set .
- Trading signals: Current disclosed option holdings include long‑dated options expiring in 2035, with 1,562 options exercisable within 60 days of Nov 10, 2025; while this is relatively small in absolute terms, watch subsequent equity grants and vesting disclosures for potential selling pressure indicators, especially around CIC or after vesting cliffs .
- Governance: Severance is coupled with robust clawback language tied to the Company’s policy and listing standards, which is shareholder‑friendly and mitigates downside governance risk related to pay outcomes .
