William Enright
About William Enright
William “Bill” Enright is an independent director at Bullfrog AI Holdings, serving since February 14, 2023. He chairs the Compensation Committee and is a member of the Audit and Nominating & Corporate Governance Committees; he is recognized as financially literate and a “financial expert” under SEC regulations for Audit Committee purposes . Enright is 62 years old (as of the 2025 proxy date) and brings 35+ years of biotech operating and financing experience; he is currently CEO and a Director of Barinthus Biotherapeutics plc (NASDAQ: BRNS), and previously served as Director, President & CEO of Altimmune, with prior roles at GenVec and Life Technologies. He holds a MA in Molecular Biology (SUNY Buffalo) and an MS in Business Management (Johns Hopkins University) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Altimmune (NASDAQ: ALT) | Director; President & CEO | More than ten years (prior to Barinthus) | Led multiple programs into clinical testing; completed acquisitions; took company public |
| GenVec, Inc. (acquired by Precigen) | Head of Business Development | Six years | Increasing responsibilities culminating in BD leadership |
| Life Technologies (acquired by Thermo Fisher) | Senior licensing, business management, manufacturing, research roles | 12 years | Broad operating and commercial roles |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Barinthus Biotherapeutics plc (NASDAQ: BRNS) | CEO and Director | Current | Helped take company public in April 2021 |
Board Governance
- Independence: The Board determined Enright is independent under Nasdaq Listing Rule 5605(a)(2); Audit Committee members (including Enright) meet Rule 10A‑3 independence and SEC “financial expert” criteria .
- Committees: Chair—Compensation; Member—Audit; Member—Nominating & Corporate Governance .
- Engagement: Audit Committee reports were signed by Enright alongside other members, reflecting participation in auditor independence oversight and 10‑K inclusion recommendations .
| Governance Metric | FY 2023 | FY 2024 |
|---|---|---|
| Board meetings held | 4 | 5 |
| Audit Committee meetings | 4 | 5 |
| Compensation Committee meetings | 0 | 4 |
| Nominating & Corporate Governance meetings | 0 | 4 |
| Enright attendance | 100% of Board & committees | 100% of Board & committees |
Fixed Compensation
| Year | Cash Retainer (incl. chair fees) | Notes |
|---|---|---|
| 2023 | $39,375 | Cash compensation for service as director and chair of a board committee |
| 2024 | $45,000 | Cash compensation for service as director and chair of a board committee |
Performance Compensation
| Year | Option Awards (Grant Date Fair Value) | Equity Grants/Structure | Vesting/Performance Metrics |
|---|---|---|---|
| 2023 | $197,200 | Options under 2022 Equity Incentive Plan | Terms set by Compensation Committee; no specific performance metrics disclosed for director awards |
| 2024 | $34,050 | Options under 2022 Equity Incentive Plan | Terms set by Compensation Committee; no specific performance metrics disclosed for director awards |
| Aug 2025 (one-time refresh) | Not disclosed per director | 33% immediately vested stock award; 67% RSUs | RSUs vest 50% on 9/1/2026 and 50% on 9/1/2027; forfeiture restrictions on RSUs lapse upon change in control or significant financing; aggregate 267,842 shares underlie these awards across executives and directors |
Assessment: Director equity shifted from large option values in 2023 to smaller option grants in 2024, followed by 2025 one-time stock/RSU retention awards with single-trigger lapse features tied to change-in-control or significant financing—an alignment signal amid underwater options but a potential governance concern around accelerated vesting triggers .
Other Directorships & Interlocks
| Company | Overlap Type | Potential Interlock/Conflict | Disclosure Status |
|---|---|---|---|
| Barinthus Biotherapeutics plc (BRNS) | CEO & Director | Industry overlap with BFRG in biotech; potential informational interlocks | No related-party transactions requiring disclosure; none >$120,000 in past 3 fiscal years |
| Altimmune (ALT) | Prior Director, President & CEO | Prior public company leadership | No related-party transactions requiring disclosure; none >$120,000 in past 3 fiscal years |
Expertise & Qualifications
- 35+ years biotech experience across operating, BD, licensing, manufacturing, and research roles .
- CEO experience at a Nasdaq-listed biotech; prior public company CEO and Director .
- Financial literacy/SEC “financial expert” qualification for Audit Committee work; strong understanding of auditor independence and financial reporting .
- Advanced degrees in molecular biology (SUNY Buffalo) and business management (Johns Hopkins) .
Equity Ownership
| Holder | Direct Shares | Options Exercisable (as of Aug 29, 2025 or within 60 days) | Total Beneficial Ownership | Percent of Class |
|---|---|---|---|---|
| William Enright | 7,813 | 55,000 | 62,813 | <1% (asterisk per proxy) |
No pledging/hedging or ownership guideline disclosures for directors were identified in the proxy; stock ownership guidelines not disclosed .
Shareholder Voting Support (2024 Annual Meeting)
| Director Nominee | For | Against | Abstain | Broker Non-Vote |
|---|---|---|---|---|
| William Enright | 2,919,589 | — | 21,620 | 2,006,685 |
Governance Assessment
-
Strengths
- Independent status affirmed; robust committee engagement and full attendance across 2023–2024 .
- Chairs Compensation Committee; participates in Audit and Nominating & Governance; signs Audit Committee report, evidencing oversight rigor .
- No related-party transactions requiring disclosure; Compensation Committee interlocks absent; clean independence posture .
- Shareholder support solid in 2024 director election .
-
Concerns / RED FLAGS
- 2025 one-time “refresh” equity awards include immediate stock plus RSUs with forfeiture restrictions that lapse upon change-in-control or significant financing—single-trigger-like acceleration that can dilute pay-for-performance and raises alignment questions in event-driven scenarios .
- Company-level risk backdrop: Nasdaq notice of non-compliance with Stockholders’ Equity requirement (Rule 5550(b)(1)), which may have motivated retention awards; while appropriate for retention, investor confidence may scrutinize award design/accelerations .
-
Compensation Mix Signals
- Material decline in option grant value from 2023 ($197,200) to 2024 ($34,050), followed by 2025 stock/RSU retention grants—shift from options toward time-based equity that lowers performance leverage and increases guaranteed value over time .
-
Board Effectiveness
- Committee cadence increased materially in 2024 (Audit: 5; Compensation: 4; Nominating: 4), with full attendance—positive signal on oversight intensity during a challenging period .
- Audit Committee financial expert qualifications and formal charters accessible on governance site—process discipline .
Overall, Enright’s deep biotech operating background and active committee roles support board effectiveness. Investors should monitor the implementation and outcomes of the 2025 retention awards (acceleration triggers), continued independence posture, and responses to Nasdaq equity compliance as indicators of governance quality and alignment .