Jonathan Hunt
About Jonathan Hunt
Jonathan Hunt is Chief Accounting Officer and Principal Accounting Officer of CATX since August 16, 2024; he served as Chief Financial Officer from December 3, 2018 to January 6, 2025 and previously from 2006 to 2009 . He is 58 and holds a BS in Accountancy and a Master of Accountancy from Brigham Young University . Prior roles include CFO at Vivid Learning Systems (2009–2018) where he led a turnaround and sale, and Assistant Corporate Controller at Hypercom Corporation (2005–2006) . Company performance context: cumulative TSR value per $100 initial investment was $39.88 in 2024 (down from $50.00 in 2023), and GAAP net losses were $79.3 million in 2024 and $46.5 million in 2023 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| CATX (Perspective Therapeutics) | Chief Financial Officer | 2018–2025 | Served as CFO from Dec 3, 2018 to Jan 6, 2025; Co-Principal Financial Officer Feb 12, 2019–Jan 6, 2025 . |
| CATX (Isoray, Inc.) | Chief Financial Officer | 2006–2009 | CFO of the Company in earlier tenure . |
| CATX | Chief Accounting Officer, Principal Accounting Officer | 2024–present | Appointed CAO Aug 16, 2024; currently Principal Accounting Officer . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Vivid Learning Systems | Chief Financial Officer | 2009–2018 | Led turnaround, revenue growth, policy/process changes culminating in successful sale of the business . |
| Hypercom Corporation | Assistant Corporate Controller | 2005–2006 | Financial reporting and controls at global payments hardware provider . |
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | $389,154 | $447,365 |
| Target Bonus % of Salary | — | 40% for NEOs (Hunt) |
| Sign‑on Bonus ($) | $30,000 (paid per 2023 employment agreement) | — |
| All Other Compensation ($) | $353,200 (includes $340,000 change‑in‑control payments and $13,200 401(k) match) | $13,800 (401(k) match) |
Performance Compensation
Annual Cash Incentive
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Bonus Opportunity (% of Salary) | — | 40% of base salary |
| Payout (% of Salary) | — | 33% of 2024 base salary |
| Payout ($) | $172,000 | $150,000 |
| Basis | Corporate objectives; determined by Compensation Committee, paid following year | Corporate objectives; determined by Compensation Committee, paid following year |
Option Awards (Grant‑level Detail)
| Grant Date | # Options | Exercise Price ($) | Expiration | Vesting |
|---|---|---|---|---|
| Jun 20, 2024 | 100,000 | 10.65 | 06/20/2034 | 1/48 monthly starting Jul 20, 2024 |
| Dec 12, 2023 | 124,877 (62,439 exercisable; 62,438 unexercisable as of 12/31/24) | 2.40 | 12/12/2033 | 25% at grant; 25% annually on Dec 12, 2024/2025/2026 |
| Jul 21, 2022 | 47,499 (fully exercisable by 2/3/23 due to CoC) | 3.30 | 07/21/2032 | 25% at grant; remainder vested at merger (CoC) |
| Jul 01, 2021 | 32,000 (remainder vested at 2/3/23 CoC) | 7.90 | 07/01/2031 | 25% annually; remainder vested at merger (CoC) |
| Jun 23, 2020 | 15,000 (remainder vested at 2/3/23 CoC) | 6.10 | 06/23/2030 | 25% annually; remainder vested at merger (CoC) |
| Jun 18, 2019 | 15,000 (fully exercisable as of 6/18/22) | 4.30 | 06/18/2029 | Fully vested by 2022 |
| Dec 03, 2018 | 15,000 (fully exercisable as of 12/03/21) | 4.30 | 12/03/2028 | Fully vested by 2021 |
Equity Program Design
- Options granted under the 2020 Equity Incentive Plan; 10‑year term; exercise price equal to closing price at grant; vesting schedule changed in June 2024 to monthly vesting for existing executives (48 monthly installments) .
- No option repricing or material modifications in 2023–2024 .
Equity Ownership & Alignment
| As of | Common Shares Owned | Options Exercisable within 60 Days | Warrants | Percent of Class |
|---|---|---|---|---|
| Apr 2, 2025 | 48,800 | 212,979 | 3,365 | <1% |
| Outstanding Equity Awards (12/31/2024) | Exercisable (#) | Unexercisable (#) | Notes |
|---|---|---|---|
| Jun 20, 2024 Grant | 12,500 | 87,500 | 1/48 monthly from 7/20/24 |
| Dec 12, 2023 Grant | 62,439 | 62,438 | 25% annual tranches |
| Prior Grants (2018–2022) | 124,999 total (47,499; 32,000; 15,000; 15,000; 15,000) | — | Mostly fully exercisable; several accelerated at 2/3/23 CoC |
- Anti‑hedging and pledging: Company policy prohibits hedging, short sales, derivative trading, and pledging/margin accounts for directors, officers, employees, and related parties .
- Ownership guidelines: Not disclosed.
Employment Terms
| Term | Provision |
|---|---|
| Current Agreement Effective Date | June 16, 2023 (at‑will) . |
| Base Salary (Agreement reference) | Annual salary set by Compensation Committee; not decreased without consent (except broad reductions) . |
| Bonus Eligibility | Quarterly and annual discretionary bonus based on Compensation Committee‑set metrics . |
| Severance (termination without cause or resignation for good reason) | 12 months’ base salary; pro‑rated quarterly/annual bonuses; COBRA premiums up to 12 months; accrued wages/approved expenses . |
| Change‑of‑Control (if not retained) | Same severance as above; plus accrued items . |
| Change‑of‑Control (regardless of retention) | Additional 12 months’ salary paid per regular payroll practices . |
| Equity Acceleration on CoC | All outstanding unvested equity awards vest and become immediately exercisable/unrestricted at executive’s option . |
| Restrictive Covenants | 1‑year non‑compete and non‑solicit; standard confidentiality . |
| Clawback Policy | Board‑adopted recoupment for executive performance‑based compensation upon required restatement per SEC/NYSE rules . |
Investment Implications
- Alignment: Hunt’s equity exposure comprises options rather than RSUs/PSUs; combined with the Company’s anti‑hedging/pledging policy, incentives align with long‑term share appreciation and compliance frameworks .
- Vesting cadence and potential selling pressure: The June 20, 2024 grant vests monthly over 48 months, creating a steady stream of newly vested options that may be exercised/sold; monitor Form 4s around monthly vest dates for potential trading signals .
- Severance/CoC economics: The agreement includes single‑trigger elements—12 months’ salary payable upon change‑of‑control regardless of retention, and optional full equity acceleration—reducing retention risk for the executive but increasing potential dilution/alignment questions for investors in sale scenarios .
- Pay‑for‑performance: 2024 cash bonus paid at 33% of salary vs 40% target (corporate objectives basis), indicating partial attainment or Committee discretion; options valued at $884,733 in 2024 dominate compensation mix, reinforcing long‑term equity orientation .
- Ownership: Beneficial ownership is <1% of common stock with 212,979 options exercisable within 60 days as of April 2, 2025; small direct share ownership suggests incentive dependence on options and realized value timing .
- Track record: Prior turnaround and successful exit at Vivid Learning Systems supports execution credibility in finance and operations; current context includes declining TSR and larger GAAP net loss in 2024, underscoring execution risk in achieving milestones that drive equity value .