Ajit Shetty
Actinium PharmaceuticalsAbout Ajit S. Shetty
Ajit S. Shetty, Ph.D., age 79, has served on Actinium’s Board since March 2017; he is an independent director with deep operating and supply-chain expertise from senior roles at Janssen and Johnson & Johnson, and significant governance experience including chairing Belgium’s VIB institute since 2016 . His education includes a Ph.D. in Metallurgy and B.A. in Natural Sciences from Trinity College, Cambridge, and an MBA from Carnegie Mellon; honors include being bestowed the title of Baron by King Albert II of Belgium in 2007 and Manager of the Year (Flanders) in 2004 . He is currently standing for re-election as a Class III director for a new three-year term expiring at the 2028 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Janssen Pharmaceutical, Inc. | President; led establishment of U.S. business | President in 1986 | Expanded U.S. footprint |
| Janssen (Global) | Managing Director | 1999–2008 | Oversaw growth from ~$1B to ~$8B global sales |
| Janssen | Chairman of the Board | 2004–2012 | Board leadership during expansion |
| Johnson & Johnson | Head, Enterprise Supply Chain (reporting to CEO) | Not disclosed | Transformation and optimization of global supply chain |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| VIB (Vlaams Instituut voor Biotechnologie) | Chairperson | Since 2016 | Belgium-based life sciences research institute |
| Agile Therapeutics, Inc. (NASDAQ: AGRX) | Director | Feb 2016–May 2023 | Public biopharma; service concluded May 2023 |
Board Governance
- Independence: Determined independent under NYSE American rules; Actinium is listed on NYSE American (ATNM) .
- Committees: Member, Audit; Member, Compensation; Chair, Nominating & Corporate Governance .
- Attendance: In 2024, each director attended at least 75% of Board and committee meetings; Audit met 4 times with all members present; Compensation met once with all members present; Nominating met twice with all members present .
- Board leadership: Combined Chair/CEO structure with a Lead Independent Director (David Nicholson) who chairs executive sessions and leads CEO evaluation .
Fixed Compensation
| Component (2024) | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer | $45,000 | Non-employee director base fee increased from $40,000 (2023) to $45,000 (2024) |
| Audit Committee – Member fee | $10,000 | 2024 member rate |
| Compensation Committee – Member fee | $7,500 | 2024 member rate |
| Nominating & Corporate Governance – Chair fee | $10,000 | 2024 chair rate |
| Total Fees Earned (Shetty) | $72,500 | Sum of components above |
Performance Compensation
| Metric | 2023 | 2024 | 2025 YTD | Notes |
|---|---|---|---|---|
| Stock awards (RSUs/PSUs) – grant value | $0 | $0 | $0 | No director stock awards disclosed |
| Option awards – grant value | $0 | $0 | $0 | No new option grants |
| Options outstanding (Shetty) | 182,484 (at 12/31/2024) | 182,484 (at 12/31/2024) | 0 (post 3/31/2025 cancellation) | Board-approved cancellation of 4.9M options across employees/directors on 3/31/2025; directors hold no options as of 11/1/2025 |
No director performance metrics (TSR, revenue, ESG) are tied to director compensation in the proxy; director pay is cash-based with standard committee differentials .
Other Directorships & Interlocks
| Type | Company/Institution | Role | Overlap/Interlock |
|---|---|---|---|
| Public (prior) | Agile Therapeutics (AGRX) | Director (ended May 2023) | No current interlock disclosed |
| Research institute | VIB | Chair | External scientific governance; non-profit |
Nominating Committee policy monitors director independence and limits on outside public board service (no more than six in addition to Actinium), and reviews potential conflicts including consulting arrangements with directors or their relatives .
Expertise & Qualifications
- Large-scale biopharma operations: Led Janssen’s global growth from ~$1B to ~$8B in sales (1999–2008); chaired Janssen’s board; optimized J&J enterprise supply chain .
- Governance/science leadership: Chairperson of VIB since 2016 with mandate to translate scientific results into applications .
- Education & honors: Ph.D. Metallurgy and B.A. Natural Sciences (Cambridge); MBA (Carnegie Mellon); Belgian barony (2007), Manager of the Year (2004), Lifetime Achievement Award (2010) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Ajit S. Shetty | 757 | ~0.002% (757 / 31,195,891) | “Less than 1%” per proxy; no options currently outstanding post 3/31/2025 cancellation |
| Shares pledged/hedged | — | — | Company policy prohibits hedging and pledging by directors and officers |
Governance Assessment
-
Strengths
- Independent director with chair role on Nominating & Corporate Governance and membership on Audit and Compensation—positions that influence oversight of conflicts, audit integrity, and pay practices .
- Strong attendance signal: 100% committee attendance across Audit (4), Compensation (1), Nominating (2) meetings in 2024; at least 75% overall Board attendance .
- Anti-hedging and anti-pledging policies reduce alignment risks; trading blackouts and restrictions in place .
- Director option cancellation in March 2025 eliminated legacy option overhang; directors currently hold no options, reducing potential dilution or repricing risks .
-
Watch items / potential investor confidence considerations
- Very small personal equity stake (~0.002% ownership), which may limit “skin-in-the-game” alignment absent ongoing equity grants .
- Ongoing shareholder litigation (securities class action and derivative actions) creates governance scrutiny across the board; derivative suits name “certain directors,” though individuals are not specified and matters remain pending/stayed in part .
- Board structure retains combined Chair/CEO; mitigated by an active Lead Independent Director, but investors often prefer independent chairs for enhanced oversight .
-
Conflicts/related-party exposure
- Proxy discloses no related-party transactions above the SEC threshold since 1/1/2022; Nominating & Corporate Governance Committee monitors director-related engagements for conflicts .
Overall, Ajit Shetty’s governance profile shows strong committee engagement and independence with robust attendance and conflict controls, balanced against low equity ownership and broader company litigation overhang that warrants monitoring by investors .