Shami Patel
About Shami Patel
Independent Class III director at CERo Therapeutics Holdings, Inc. since October 2024; age 56. Managing Director at Launchpad Capital with 25+ years in financial services, capital markets, SPAC origination/execution; JD/MBA from Duke University and BA from Trinity University. The Board determined Patel is independent under Nasdaq rules; his current Class III term runs to the 2027 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Launchpad Capital | Managing Director | Ongoing | Investment leadership across financial services and capital markets |
| Cohen Circle | Managing Director | Jan 2015–Aug 2024 | SPAC origination/execution |
| FTAC Olympus Acquisition Corp. | Chief Operating Officer | Jul 2020–Aug 2020 | SPAC merged with Payoneer (NASDAQ: PAYO) |
| Golden Pacific Bancorp, Inc. | Vice Chairman; Chair, Compliance Committee | 2010–2015 | Acquired by SoFi (NASDAQ: SOFI) |
| Hexagon Securities, LLC | Partner; Exec. Committee Member | 2010–2012 | Credit-focused investment bank/securities firm |
| Alesco Financial, Inc. (NYSE: AFN) | Chief Operating Officer; Chief Investment Officer | 2006–2009 | Launched entity while at Cohen & Company |
| TRM Corporation (NASDAQ: TRMM) | Chief Financial Officer | 1999–2000 | Consumer/financial services |
| iATMglobal.net | Co-founder; Chief Executive Officer | 2000–2001 | Sold to NCR Corporation in 2001 |
| Sirrom Capital Corporation | Vice President (West Coast) | 1998–1999 | Mezzanine finance fund |
| Robertson Stephens | Investment Banking – Business Services | 1997–1998 | Corporate finance |
| Andersen Consulting (Accenture) | Strategy Consultant – Energy Group | 1991–1993 | Strategy consulting |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Launch One Acquisition Corp. (NASDAQ: LPAA) | Advisor | Since Jul 2024 | SPAC targeting healthcare/life sciences |
| Launch Two Acquisition Corp. (NASDAQ: LPBB) | Advisor | Since Oct 2024 | SPAC targeting financial services |
| Phoenix Biotech Acquisition Corp. (PBAX → CERo) | Advisor | Through Feb 2024 | SPAC merged with CERo; interlock to CERo lifecycle |
| Newcourt Acquisition Corp. (→ Psyence Biomedical, NASDAQ: PBM) | Advisor | To Jan 2024 | SPAC advisory |
| Locust Walk Acquisition Corp. (→ eFFECTOR, NASDAQ: EFTR) | Advisor | To Aug 2021 | SPAC advisory |
| FinTech Acquisition Corp.; FinTech Acquisition Corp. II | Board member | Various to 2018 | CCN/IMXI business combinations; IMXI board observer until Mar 2020 |
| FinTech Acquisition Corp. III; IV | Advisor | 2020–2021 | Paya (NASDAQ: PAYA), Perella Weinberg (NASDAQ: PWP) mergers |
| Duke University School of Law | Board of Visitors; Senior Lecturing Fellow | 2011–2023 | Academic governance/advisory |
Board Governance
- Committee assignments: Audit Committee member (chair is Michael Byrnes); Compensation Committee member (chair is Kathleen LaPorte).
- Independence: Board determined Patel is independent under Nasdaq and Rule 10A‑3.
- Attendance: In 2024 the Board met 16x, Audit 4x, Compensation 6x; each director attended ≥75% of applicable meetings.
- Staggered Board: Class III director; term expires at the 2027 annual meeting.
Fixed Compensation
| Component | Amount/Terms | Period | Notes |
|---|---|---|---|
| Annual cash retainer (standard) | $30,000 per annum (paid quarterly) | Approved Mar 25, 2024 | Standard non‑employee director retainer; vice chair role had different retainer and is not applicable to Patel |
| Cash fees actually paid (Patel) | $7,500 | 2024 | Reflects partial‑year service after Oct 2024 appointment |
| All Other Compensation (Patel) | $105,000 | 2024 | Includes $75,000 consulting fees under a Company agreement; remainder not further itemized in proxy |
Performance Compensation
| Equity Award | Grant Date | Quantity | Vesting / Performance Metrics | Status / Dates |
|---|---|---|---|---|
| Non‑employee director stock options | Sep 30, 2024 | 2,550 options | 50% vests upon FDA acceptance of IND; 50% vests upon completion of financing ≥$1.5M gross proceeds | 1,275 vested Dec 2, 2024 (IND acceptance); 1,275 vested Feb 24, 2025 (financing met) |
| Non‑executive director stock options | Mar 4, 2025 | Up to 35,845 options | 50% vests at 12‑month anniversary of grant; 50% subject to performance‑based vesting | Grant structured for all non‑executive directors; performance conditions not itemized in proxy beyond time/performance split |
Note: Exercise prices for the above Patel‑specific awards were not disclosed; earlier 2024 non‑employee director grants (1,125 options) carried an exercise price revised from $177.00 to $10.00 effective Oct 1, 2024, but Patel’s 2024 entry reflects only the 2,550 performance options.
Other Directorships & Interlocks
| Company | Role | Relationship to CERo |
|---|---|---|
| PBAX (Phoenix Biotech Acquisition Corp.) | Advisor | SPAC that merged with CERo in Feb 2024 (interlock) |
| LPAA (Launch One Acquisition Corp.) | Advisor | External SPAC role (healthcare focus) |
| LPBB (Launch Two Acquisition Corp.) | Advisor | External SPAC role (financial services focus) |
| FinTech Acquisition Corps I–IV | Director/Advisor | Multiple SPAC transactions; external governance/information networks |
| LWAC (Locust Walk Acquisition Corp.) | Advisor | External SPAC; merged with eFFECTOR |
| Newcourt Acquisition Corp. | Advisor | External SPAC; merged with Psyence Biomedical |
Expertise & Qualifications
- Capital markets and SPAC execution (advisor or executive roles across multiple SPACs).
- Bank governance and compliance oversight (Vice Chair; Compliance Committee Chair at Golden Pacific Bancorp).
- Investment banking, structured finance, and credit markets (Hexagon Securities; Cohen & Company; Robertson Stephens).
- Education: JD with honors and MBA (Duke University); BA in Philosophy and Economics (Trinity University).
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Basis/Notes |
|---|---|---|---|
| Shami Patel | 6,284 | <1% | SEC definition includes securities exercisable/convertible within 60 days; total common shares outstanding at May 1, 2025 were 6,162,072 |
Governance Assessment
- Strengths: Independent status; multi‑committee service (Audit and Compensation), with ≥75% attendance in 2024, supporting engagement. SPAC/capital markets and compliance oversight experience align with CERo’s financing and listing dynamics.
- Alignment: Director compensation includes equity options with performance‑based milestones tied to IND acceptance and financing, creating operating and funding alignment.
- Controls: Audit Committee oversight of related‑party transactions and quarterly review of payments to officers/directors/affiliates; Code of Conduct requires avoidance/oversight of conflicts.
- RED FLAGS / Optics: Receipt of $75,000 consulting fees (total “All Other Compensation” $105,000) while serving on the Board and on compensation and audit committees may raise independence optics, though the Board determined he is independent. Investors typically scrutinize consulting relationships with non‑employee directors for potential conflicts.
- Pay Guardrails: Non‑employee director compensation capped at $1,000,000 per annual period ($1,500,000 if first appointed mid‑period), limiting outsized director pay; awards subject to clawback per Board policy.
- Disclosure Notes: No delinquent Section 16(a) filings were attributed to Patel in the proxy’s compliance section; listed delinquencies pertained to others.