Eric Bing Chin
About Eric Bing Chin
Eric Bing Chin, CPA (age 45), joined Biomerica’s Board in June 2025 and is an independent director. He serves as Chair of the Audit Committee and member of the Nominating & Corporate Governance and Compensation Committees; the Board designated him an “audit committee financial expert.” Chin holds a BA from UCLA and brings CFO experience at Akido Labs (since Jan 2023) and Astrana Health (2018–2022), plus finance leadership roles at Public Storage and Alexandria Real Estate Equities and earlier audit experience at EY. During FY2025, all directors attended at least 75% of aggregate Board and committee meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Akido Labs, Inc. | Chief Financial Officer | Jan 2023–present | Leads finance; health-tech CFO experience |
| Astrana Health (public, S&P SmallCap 600) | Chief Financial Officer | 2018–2022 | Public-company CFO, healthcare operations and reporting |
| Public Storage (S&P 500) | Finance leadership positions | 2011–2018 | Large-cap REIT finance experience |
| Alexandria Real Estate Equities (S&P 500) | Finance leadership positions | 2011–2018 | Life-science REIT finance experience |
| EY | Practicing CPA | 2002–2011 | Assurance; SEC reporting and audit rigor |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Rhode Island Primary Care Physicians Corporation | Board Member, Treasurer & Secretary | Since Dec 2023 | Governance and financial oversight role |
| AI 2030 | Advisory Board Member | Not disclosed | External advisory activity |
| American Heart Association – Executives with Heart | Fundraiser | Not disclosed | Philanthropic engagement |
| Covenant House Los Angeles | Fundraiser | Not disclosed | Community engagement |
| NACD, HFMA, The F‑Suite | Member/Charter Member | Not disclosed | Professional governance and finance affiliations |
Board Governance
- Committee assignments: Audit (Chair), Compensation (Member), Nominating & Corporate Governance (Member). Appointed June 4, 2025; Audit Chair designation on June 4, 2025; expected to continue post-2025 annual meeting .
- Independence: Board affirmatively determined Chin is independent; Audit Committee composed entirely of independent directors .
- Attendance and engagement: FY2025 Board held 8 meetings; Audit 7; Compensation 4; Governance 4; all directors attended at least 75% of aggregate meetings .
- Board leadership: Company currently has an Executive Vice Chairperson and no designated Board Chair .
- Risk oversight: Audit Committee oversees financial, compliance and controls risks; Compensation Committee oversees compensation-related risks .
Fixed Compensation
| Component | Amount (Annual) | Notes |
|---|---|---|
| Board Cash Retainer | $45,000 | Paid quarterly |
| Audit Committee Chair Stipend | $15,000 | Applies to Chin as Audit Chair |
| Compensation Committee Chair Stipend | $7,500 | Not applicable; Chin is a member, not chair |
| Nominating & Governance Chair Stipend | $7,500 | Not applicable; Chin is a member, not chair |
- No meeting fees disclosed; director compensation subject to periodic review by the Board .
Performance Compensation
| Award Type | Grant Date | Quantity | Fair Value | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| Restricted Stock | Not disclosed | 10,000 shares | Not disclosed | Scheduled to vest on Dec 13, 2025 | None disclosed for directors |
- The proxy’s director compensation section describes cash retainers and equity (options/restricted stock) for independent directors; no performance (TSR/revenue/EBITDA/ESG) metrics tied to director equity grants are disclosed .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock with BMRA |
|---|---|---|---|
| Rhode Island Primary Care Physicians Corporation | Not disclosed | Board Member, Treasurer & Secretary | No related-party transactions reported; no disclosed BMRA dealings |
- No other public-company directorships disclosed for Chin; prior role at Astrana Health was as CFO, not as a director .
Expertise & Qualifications
- CPA; designated “audit committee financial expert,” financially literate .
- CFO experience across healthcare and technology; large-cap REIT finance background; audit/assurance at EY .
- Governance and finance affiliations (NACD, HFMA) enhance board effectiveness .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Vested vs. Unvested | Options (Exercisable ≤60 days) | Pledging/Hedging |
|---|---|---|---|---|---|
| Eric Bing Chin | 10,000 | 0.3% | 10,000 restricted shares scheduled to vest Dec 13, 2025 (unvested as of Oct 17, 2025) | None | Company policy prohibits short sales, margin, pledging, and hedging |
Governance Assessment
-
Strengths
- Independent Audit Chair with CPA credentials and audit-committee financial expert designation; enhances financial oversight and investor confidence .
- Meaningful healthcare CFO experience and large-cap finance background; relevant to BMRA’s operations and controls .
- Attendance threshold met (≥75%) amidst active committee workload; Board and committees met regularly in FY2025 .
- No related-party transactions involving directors over $120,000 since June 1, 2024; no legal proceedings disclosed for directors/officers .
- Insider-trading policy prohibits hedging/pledging; supports alignment and mitigates risk .
-
Watch items
- External CFO role (Akido Labs) plus multiple committee duties could pose time-commitment constraints; continued monitoring of attendance and committee deliverables advisable .
- Company proposals to increase authorized shares (up to 300,000,000) may signal future equity issuance and dilution; board oversight of capital allocation will be important to investor confidence .
-
Signals
- Equity holding via restricted stock (10,000 shares) indicates alignment, though size is modest relative to outstanding shares; vesting in Dec 2025 provides near-term retention/engagement incentive .
- Board leadership structure without a Chair could concentrate agenda-setting in management/Executive Vice Chair; independent committee chairs, including Audit under Chin, are important counterbalances .
Insider Trades and Section 16 Compliance
| Item | Status |
|---|---|
| Section 16(a) filings (FY2025) | All required filings timely, per company disclosure (no transaction detail provided in proxy) |
Committee Assignments and Roles
| Committee | Role | Appointment/Status | Independence/Expertise |
|---|---|---|---|
| Audit | Chair | Appointed June 4, 2025; expected to continue post-Annual Meeting | Independent; audit committee financial expert; financially literate |
| Compensation | Member | Appointed June 4, 2025; expected to continue | Independent |
| Nominating & Corporate Governance | Member | Appointed June 4, 2025; expected to continue | Independent |
Attendance and Meeting Activity (FY2025)
| Body | Meetings Held | Attendance Threshold |
|---|---|---|
| Board | 8 | All directors attended ≥75% of aggregate meetings |
| Audit Committee | 7 | All directors attended ≥75% of aggregate meetings |
| Compensation Committee | 4 | All directors attended ≥75% of aggregate meetings |
| Nominating & Governance Committee | 4 | All directors attended ≥75% of aggregate meetings |
- Annual Meeting attendance: all five incumbent directors attended Dec 7, 2024 meeting; majority expected at 2025 meeting .
Related Party & Conflicts
- No transactions >$120,000 involving directors, officers, 5% holders or their immediate families since June 1, 2024; Board reviews/approves related-party transactions per policy .
- No legal proceedings requiring disclosure for directors/officers .
Director Compensation Structure Summary (Context)
| Name | FY2025 Cash Fees | Stock Awards | Option Awards | Total |
|---|---|---|---|---|
| Independent directors (sample: Coste, Emerson, Moatazedi) | $52,500–$60,000 | ~$26,669 | None listed in FY2025 table | ~$79,169–$86,669 |
- Chin joined in June 2025; his specific FY2025 cash/equity details aren’t itemized in the proxy. The standard retainer and Audit Chair stipend schedule applies prospectively .
RED FLAGS
- Potential dilution risk due to large authorized-share increase (proposed to 300,000,000); ongoing vigilance on capital deployment and investor communication is warranted .
Summary Implications for Investors
- Audit Chair with CPA designation and extensive CFO experience is a governance positive; strengthens financial reporting oversight and risk management .
- Independence, attendance thresholds, and anti-hedging/pledging policies support investor alignment; absence of related-party issues further reduces conflict risk .
- Monitor time commitments across external roles and potential future dilution from share authorization expansion; evaluate board’s capital allocation discipline and shareholder engagement on these matters .