Richard Steinhart
Actinium PharmaceuticalsAbout Richard I. Steinhart
Richard I. Steinhart (age 68) is an independent director of Actinium Pharmaceuticals and has served on the Board since November 2013; he is the Audit Committee Chair and a member of the Nominating and Corporate Governance Committee, and is designated the Board’s “audit committee financial expert.” He holds BBA and MBA degrees from Pace University and is a Certified Public Accountant (inactive). He currently serves as Senior Vice President and Chief Financial Officer of BioXcel Therapeutics, Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MELA Sciences, Inc. | SVP Finance & CFO (Apr 2012–Dec 2013); previously VP Finance & CFO, Treasurer & Secretary (from Apr 2006) | 2006–2013 | Executive financial leadership |
| Remedy Pharmaceuticals | VP & CFO | Oct 2015–Apr 2017 | Led finance at clinical-stage biotech (asset sold to Biogen) |
| Forest Street Capital/SAE Ventures | Managing Director | Jan 2014–Sep 2015 | Investment banking/VC/consulting focused on healthcare/tech |
| Emisphere Technologies, Inc. | VP & CFO | Prior to Forest Street Capital | Corporate finance leadership |
| CW Group, Inc. | General Partner & CFO | 7 years (early career) | VC focused on medtech/biopharma |
| Price Waterhouse | Early career | — | Foundation in auditing/accounting |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BioXcel Therapeutics, Inc. | Senior Vice President & Chief Financial Officer | Since Oct 2017 | Public company CFO; finance, controls, capital markets |
| Atossa Genetics, Inc. | Director; Chair Audit Committee; Member Compensation Committee | Since Mar 2014 | Oversight of audit and pay at public biotech |
Board Governance
- Committee assignments: Audit (Chair), Nominating & Corporate Governance (Member). Not on Compensation Committee.
- Independence: Board affirmed independence under NYSE American rules (Steinhart among independent directors).
- Audit Committee expertise: Board determined Steinhart is an “audit committee financial expert.” Audit Committee met 4 times in 2024; all members attended all meetings.
- Attendance: Board held 6 meetings in 2024; each director attended at least 75% of Board and committee meetings.
- Tenure/classification: Class I director; term expires at the 2026 Annual Meeting.
- Lead Independent Director: David Nicholson; chairs executive sessions and leads CEO evaluation.
- Code and trading policies: Anti-hedging and anti-pledging policies; blackout periods and prohibition on short sales.
Fixed Compensation
| Component | 2024 Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 70,000 |
| Stock Awards | — |
| Option Awards (Grant-date fair value) | — |
| All Other Compensation | — |
| Total | 70,000 |
Director cash compensation structure:
-
Annual cash retainer: $40,000 (2023); $45,000 (2024).
-
Committee fees (per year):
Board Committee 2023 Chair ($) 2023 Member ($) 2024 Chair ($) 2024 Member ($) Audit 20,000 6,000 20,000 10,000 Compensation 10,000 5,000 15,000 7,500 Nominating & Corporate Governance 7,500 3,000 10,000 6,000 -
Lead Independent Director incremental retainer: $10,000 (not applicable to Steinhart).
Performance Compensation
| Instrument | Status | Key Details |
|---|---|---|
| Stock awards (RSUs/PSUs) | None in 2024 | No director stock awards disclosed for Steinhart in 2024. |
| Option awards (2024) | $0 grant-date fair value | No option grants to Steinhart in 2024. |
| Options outstanding (12/31/2024) | 185,817 options | Outstanding balance at year-end 2024. |
| Options cancellation | Canceled 3/31/2025 | Board-approved cancellation; all directors consented; as of 11/1/2025, hold no stock options. |
- Consultant support for compensation benchmarking: StreeterWyatt engaged; $35,000 paid in 2024 to develop peer group for executive/director compensation.
Other Directorships & Interlocks
| Company | Relationship to ATNM | Notes |
|---|---|---|
| BioXcel Therapeutics, Inc. | No related-party transactions disclosed | Steinhart is current CFO; no ATNM related-party transactions reported since 1/1/2022. |
| Atossa Genetics, Inc. | No related-party transactions disclosed | Steinhart is director/audit chair; no ATNM related-party transactions reported since 1/1/2022. |
- Nominating & Corporate Governance Committee oversight includes annual independence assessments and conflict review; no director may serve on more than six other for‑profit public boards in addition to ATNM.
Expertise & Qualifications
- CPA (inactive); BBA and MBA (Pace University).
- Extensive finance leadership across public biopharma; investment banking/VC background; early audit experience (Price Waterhouse).
- Designated audit committee financial expert by Actinium’s Board.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Richard I. Steinhart | 316 | <1% (based on 31,195,891 shares outstanding) |
- Company policies prohibit hedging and pledging of company stock for directors and officers.
Governance Assessment
- Strengths: Independent director; Audit Chair with “financial expert” designation; full Audit Committee attendance in 2024; engaged on Nominating & Governance; robust anti-hedging/anti-pledging/trading controls.
- Compensation structure: Cash-based with defined committee fees; no 2024 equity grants to Steinhart; Board used independent consultant for pay benchmarking.
- Ownership alignment: Beneficial ownership is minimal (316 shares, <1%); options fully canceled in March 2025 resulting in no outstanding director options—reduces potential equity alignment but also removes option overhang.
- Conflicts/related party: No related-party transactions involving directors/officers reported since 1/1/2022; Nominating Committee oversees independence and conflicts; Steinhart’s external roles are disclosed and within the Board’s service limits.
- Risk indicators: Company is subject to ongoing securities class action and derivative actions (filed in 2025) relating to Iomab‑B disclosures; while directors are mentioned generally in derivative complaints, the proxy does not list specific named directors—litigation remains a governance overhang for Board oversight.
RED FLAGS
- Very low personal share ownership relative to outstanding shares may signal limited “skin in the game” alignment for Steinhart.
- Cancellation of all director stock options in March 2025 eliminates equity incentives for directors going forward unless replaced by RSUs/stock grants; monitoring future equity grant policy is warranted.