Steve O’Loughlin
Actinium PharmaceuticalsAbout Steve O’Loughlin
Steve O’Loughlin is Chief Financial Officer (Principal Financial and Accounting Officer) of Actinium Pharmaceuticals (ATNM). He joined Actinium in October 2015 (VP, Finance & Corporate Development), became Principal Financial Officer in May 2017, and was appointed CFO in August 2020. He holds a B.S. in Business Administration (Finance) from Ramapo College of New Jersey . Recent “Pay versus Performance” disclosures show the company does not use financial performance measures (e.g., revenue/EBITDA/TSR targets) to determine NEO pay; cumulative TSR for a $100 investment fell from $136.54 (2022) to $65.13 (2023) and $16.15 (2024), with net losses of $33.0M (2022), $48.8M (2023), and $38.2M (2024) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Actinium Pharmaceuticals | CFO (Principal Financial and Accounting Officer) | Aug 2020 – Present | Senior finance leadership; principal financial and accounting officer |
| Actinium Pharmaceuticals | Principal Financial Officer | May 2017 – Aug 2020 | Company finance leadership |
| Actinium Pharmaceuticals | VP, Finance & Corporate Development | Oct 2015 – May 2017 | Finance and corporate development responsibilities |
| J. Streicher LLC | Investment Banker | Jun 2015 – Oct 2015 | Capital markets/investment banking |
| Protea Biosciences, Inc. | VP, Corporate Finance & Development; Corporate Officer | Aug 2012 – Jun 2015 | Corporate finance/development at public life sciences company |
| Caliber I.D. | Corporate Development | Jun 2010 – Jun 2012 | Corporate development at diagnostics company |
| Jesup & Lamont | Investment Banking (Biotech/Life Sciences focus) | Prior to 2010 | Investment banking |
External Roles
- No external public company directorships or committee roles disclosed for Mr. O’Loughlin .
Fixed Compensation
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Base Salary ($) | 330,000 | 370,000 | 400,000 | 420,000 | 436,800 |
| Target Bonus (% of base) | Up to 30% | Up to 30% | Up to 30% | Up to 30% | Up to 30% |
| Actual Bonus Paid ($) | 90,000 | 150,000 | 185,000 | 170,000 | 145,000 |
- 2025 base salary set at $445,536 per employment agreement (effective year rate) .
Performance Compensation
Equity Grants (Options)
| Grant date | Shares | Exercise price ($) | Expiration | Vesting |
|---|---|---|---|---|
| Sep 1, 2021 | 107,463 | 6.07 | Sep 1, 2031 | 2% monthly until fully vested (2019 Plan) |
| Jul 1, 2022 | 256,438 | 4.96 | Jul 1, 2032 | 2% monthly until fully vested (2019 Plan) |
| Dec 28, 2023 | 253,123 | 5.00 | Dec 28, 2033 | 2% monthly until fully vested (2019 Plan) |
- Outstanding equity at 12/31/2024 included multiple option tranches; see representative lines for O’Loughlin: 3,333 @ $53.70 exp 9/28/2025 (fully vested), 1,666 @ $59.70 exp 4/15/2026 (fully vested), 3,333 @ $41.70 exp 3/14/2027 (fully vested), 8,833 @ $23.497 exp 7/13/2028 (fully vested), 13,333 @ $6.96 exp 7/12/2029 (fully vested), 59,066 @ $9.55 exp 8/12/2030 (fully vested), 83,821/23,642 @ $6.07 exp 9/1/2031 (partially unvested), 148,734/107,704 @ $4.96 exp 7/1/2032 (partially unvested), 60,749/192,374 @ $5.00 exp 12/28/2033 (partially unvested) .
- On March 31, 2025, the Board approved cancellation of 4.9–5.15M outstanding options held by employees and directors; Mr. O’Loughlin consented to cancel 703,255 options and as of Nov 1, 2025 held no stock options .
Annual Cash Incentive (structure)
| Metric | Weighting | Target | Actual payout basis | Vesting |
|---|---|---|---|---|
| Board‑determined annual objectives (not disclosed) | Not disclosed | Up to 30% of annual base salary | Committee/Board discretion; see “Actual Bonus Paid” by year in Fixed Compensation table | N/A |
Pay vs Performance context
| Year | TSR – value of $100 investment | Net Loss ($) |
|---|---|---|
| 2022 | 136.54 | (33,017,000) |
| 2023 | 65.13 | (48,818,000) |
| 2024 | 16.15 | (38,243,000) |
- Company disclosed it did not use “financial performance measures” under Item 402(v) to link NEO pay to performance .
Equity Ownership & Alignment
| As-of date (record in filing) | Beneficial ownership (shares) | % of outstanding | Notes |
|---|---|---|---|
| Nov 14, 2022 (DEF 14A) | 128,957 | * (<1%) | Includes options exercisable within 60 days |
| Mar 31, 2023 (10-K) | 163,859 | * (<1%) | Includes options exercisable within 60 days |
| Record Date 2023 (DEF 14A) | 224,139 | * (<1%) | Includes options exercisable within 60 days |
| Mar 27, 2024 (10-K) | 286,683 | * (<1%) | Includes options exercisable within 60 days |
| Mar 27, 2025 (10-K) | 440,690 | 1.4 | Includes 439,507 options exercisable within 60 days |
| Oct 16, 2025 Record Date (DEF 14A) | 1,183 | * (<1%) | After option cancellations; minimal direct holding |
- Anti-hedging and anti-pledging: Company prohibits hedging/pledging by officers/directors; blackout policies apply .
- Stock ownership guidelines for executives: Not disclosed in the cited documents .
- Pledging/hedging by O’Loughlin: No pledging/hedging disclosed; subject to company prohibitions .
Employment Terms
| Term | Detail |
|---|---|
| Employment agreement | CFO employment agreement dated Aug 12, 2020 |
| Base salary (recent) | 2023: $420,000; 2024: $436,800; 2025: $445,536 (set) |
| Target annual bonus | Up to 30% of base salary, Board‑determined objectives |
| Equity awards | Options when granted; 2% monthly vesting; 10‑year term |
| Change‑in‑control (CIC) protection | If terminated without Cause or resigns for Good Reason within 12 months after a CIC: lump sum equal to 1x base salary, 12 months health benefits, and immediate vesting of all outstanding equity awards |
| Non‑CIC severance | Not disclosed for CFO in cited filings |
| Clawback | Not explicitly disclosed for executives in cited filings |
| Non‑compete / non‑solicit | Executives have non‑competition agreements and invention assignment/confidentiality obligations |
| Anti‑hedging/pledging | Prohibited for officers/directors |
Risk Indicators & Red Flags
- Option cancellations: On March 31, 2025, the Board approved cancellation of 4.9–5.15 million options; Mr. O’Loughlin canceled 703,255 options and holds no options as of Nov 1, 2025. This eliminated a large unexercised overhang rather than repricing underwater options .
- Legal proceedings: 2025 securities class action and derivative actions name certain executives and directors (Seth, Desai, Vusirikala, Giralt) but do not name Mr. O’Loughlin; cases are pending and the company intends to defend vigorously .
- Anti‑hedging/pledging policies in force for executives .
Compensation Committee, Peer Group, Say‑on‑Pay
- Compensation Committee uses StreeterWyatt as an external advisor; fees of $22,000 (2022) and $35,000 (2024) were paid; consultant supported peer group development and analyses .
- Compensation philosophy emphasizes competitive pay and incentives; however, the company reported no use of financial performance measures under Item 402(v) for determining NEO pay in recent disclosures .
- Say‑on‑pay: 2025 proxy includes an advisory vote and frequency proposal (Board recommends “every three years”); next advisory vote scheduled for 2028; no current-year results disclosed yet .
Investment Implications
- Pay-for-performance alignment: Bonus targets are modest (30% of base), but specific performance metrics and weightings are not disclosed, and the company reports no Item 402(v) financial measures used—limiting visibility into pay-performance linkage for the CFO .
- Selling pressure/overhang: The March 2025 mass cancellation of options (703k for the CFO) removed a substantial potential exercise/sale overhang; as of Nov 2025 Mr. O’Loughlin holds no options and only 1,183 shares, reducing near-term insider selling pressure from vesting schedules but also shrinking equity alignment unless new grants are made .
- Retention risk: CFO CIC protection is relatively modest (1x base salary plus 12 months benefits and full vesting on a qualifying CIC termination) compared with market practice at some peers; absence of disclosed non‑CIC severance could increase retention risk outside a CIC scenario .
- Governance risk mitigants: Anti‑hedging/anti‑pledging policy and formal non‑compete/confidentiality agreements are in place; no related-party transactions disclosed .
- Performance backdrop: TSR declined sharply from 2022 to 2024 while losses remained significant; scrutiny on incentive design and disclosure could increase if shareholder outcomes remain weak .
Note: All figures, dates, and terms are sourced from ATNM’s SEC filings as cited above. Where metrics or policies are “not disclosed,” the cited filings did not provide specific details.