Michael Finger
About Michael H. Finger
Independent director of Creative Medical Technology Holdings (CELZ) since December 2021; age 78 as of the 2025 proxy. Background in real estate financing and consulting; manager and principal member of Alternative Sales Source, LLC (founded 2017), previously founder/principal of Hyland Bay Systems (CFO) and Hyland Bay Realty (sold in 2016), and founder of Cardinal Financial Services (operated for over 20 years; sold in 2007). Education: MBA in finance from “Colombia University” and B.A. in biology from Boston University. Committee member on Audit, Compensation, and Corporate Governance & Nominating; considered independent under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alternative Sales Source, LLC | Manager & Principal Member | Founded 2017 – present | Real estate consulting founder/operator |
| Hyland Bay Systems | Founder & Chief Financial Officer | Sold in 2016 (active prior years) | Finance leadership in related real estate entities |
| Hyland Bay Realty | Founder & Principal | Sold in 2016 | Real estate operations |
| Cardinal Financial Services, Inc. | Founder; operated national commercial RE mortgage brokerage | Operated >20 years until sale in 2007 | Commercial mortgage origination and brokerage |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public company directorships disclosed for Finger in CELZ filings. |
Board Governance
- Committee memberships and chairs:
- Audit Committee: Member; Chair is Susan Snow; all members independent; audit committee reviews related-party transactions.
- Compensation Committee: Member; Chair is Bruce S. Urdang; all members independent; non-employee directors under Rule 16b-3.
- Corporate Governance & Nominating Committee: Member; Chair is Susan Snow; all members independent.
- Independence: Board states three of five directors are “independent” under Nasdaq; CEO (Warbington) and CFO (Dickerson) are not independent.
- Attendance: At least 75% attendance at Board and committee meetings in 2024 (eight meetings) and 2023 (five meetings).
- Board leadership: CEO also serves as Chairman; no Lead Director; structure deemed appropriate by the Board given company size.
- Nomination: Finger nominated for re-election to one-year term at the 2025 Annual Meeting.
Fixed Compensation
| Year | Component | Amount (USD) | Notes |
|---|---|---|---|
| 2024 | Fees Earned or Paid in Cash | $80,000 | Non-employee director retainer; no option awards reported (-0-) in 2024 for Finger. |
| 2023 | Fees Earned or Paid in Cash | $80,000 | Non-employee director retainer; no option awards reported (-0-) in 2023 for Finger. |
| Program | Annual Retainer | $80,000 | Plus $20,000 for each committee a director chairs (Finger is not a chair). May be paid in combination of cash and stock. |
Performance Compensation
- No performance-linked compensation disclosed for non-employee directors; no RSU/PSU/option awards reported for Finger in 2023 or 2024.
Other Directorships & Interlocks
| Company | Role | Committee Roles | Overlap/Interlocks |
|---|---|---|---|
| None disclosed | — | — | No public board interlocks disclosed involving Finger. |
Expertise & Qualifications
- Real estate finance and operations founder/CFO experience (Hyland Bay Systems/Realty; Cardinal Financial Services).
- Current consulting leadership (Alternative Sales Source, LLC).
- MBA (finance) and biology undergraduate training.
- Governance experience via service on Audit, Compensation, and Corporate Governance & Nominating committees.
Equity Ownership
| Metric | 2024-11-04 | 2025-03-06 | 2025-10-27 | 2025-10-29 |
|---|---|---|---|---|
| Shares Beneficially Owned | 1,851 | 1,851 | 351 | 351 |
| Ownership % of Outstanding | <1% | <1% | <1% | <1% |
| Notes | No footnotes indicating options/warrants for Finger in these tables. | Includes warrant/option footnotes for other officers, not Finger. | Group totals include currently exercisable options/warrants (others), not attributed to Finger. | Group totals include currently exercisable instruments (others), not attributed to Finger. |
Governance Assessment
-
Strengths
- Independent director serving on all three key committees; committee memberships are fully independent.
- Audit committee charter includes explicit oversight of related-party transactions and pre-approval of audit/non-audit services.
- Attendance met minimum thresholds in 2023–2024.
-
Concerns and RED FLAGS
- Very low personal ownership (351 shares as of late Oct 2025, <1%), which may limit alignment with shareholders.
- Board leadership concentration: CEO is also Chairman; company has no Lead Independent Director.
- Significant related-party transaction in Dec 2022: $5,000,000 purchase of “research tools” from an entity affiliated with a former director/current consultant; while a policy exists and requires audit committee review/recusal, the magnitude and affiliation present governance risk.
- Director pay is entirely cash-based for Finger in 2023–2024 (no equity grants), reducing at-risk alignment signals.
-
Additional notes
- Compensation program pays $20,000 chair premiums; Finger’s $80,000 suggests non-chair status across committees.
- No director stock ownership guidelines, pledging/hedging disclosures, or related-party ties involving Finger found in filings reviewed.
Implication: Finger’s independent status and committee roles support board oversight, but minimal equity ownership and the company’s leadership structure (combined CEO/Chair, no lead independent) weaken investor alignment and counterbalance confidence, and the 2022 related-party transaction increases scrutiny on audit committee effectiveness.