Rhonda M. Chicko
About Rhonda M. Chicko
Rhonda M. Chicko, CPA, is Chief Financial Officer and Principal Financial and Accounting Officer of Cyclerion Therapeutics (CYCN). She serves as an independent consultant compensated on an hourly basis and has held the CFO role since January 2024, formally named CFO on March 4, 2024; she is age 59 as of April 21, 2025 and holds an M.S.T. from Bentley University and a B.S. in accounting from Le Moyne College . During her tenure, CYCN reported a net loss of $3.057 million in 2024 versus $5.263 million in 2023, and its pay-versus-performance table indicates a total shareholder return index value of $24.64 for 2024 vs $25.53 for 2023 .
Company performance indicators
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Net Income (Loss) ($USD Thousands) | (5,263) | (3,057) |
| TSR – Value of Fixed $100 Investment ($) | 25.53 | 24.64 |
| Revenues ($USD Millions) | —* | 2.00* |
| EBITDA ($USD Millions) | (9.582)* | —* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Scholar Rock | Chief Financial Officer | Apr 2018–Oct 2019 | Not disclosed |
| Editas Medicine | Vice President of Finance | Sep 2015–Mar 2018 | Not disclosed |
| Ironwood Pharmaceuticals | Finance roles culminating Senior Director, Finance & Tax | 2005–2015 | Not disclosed |
| Various life science companies | Consulting CFO | Oct 2019–present | Not disclosed |
| Wellington Management Company, LLP | Finance/accounting roles | N/A (not disclosed) | Not disclosed |
| PricewaterhouseCoopers, LLP | Finance/accounting roles | N/A (not disclosed) | Not disclosed |
External Roles
- No public company board roles or committee positions disclosed in CYCN’s 2024 and 2025 proxy statements reviewed .
Fixed Compensation
| Component | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | — (not an officer) | 249,900 |
| Target Bonus (%) | Not disclosed | Not disclosed |
| Actual Bonus Paid ($) | — | — |
| All Other Compensation ($) | — | — |
Narrative highlights:
- “Ms. Chicko performs her services on a part-time basis as an independent consultant and is compensated on an hourly basis for her services.” She does not receive employee benefits .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None disclosed for Ms. Chicko (no annual incentive plan, RSUs/PSUs, or options) | — | — | — | — | — |
Ms. Chicko currently serves as a consultant to the Company and does not receive employee benefits or equity awards .
Equity Ownership & Alignment
| Metric | As of Apr 17, 2024 | As of Apr 21, 2025 |
|---|---|---|
| Shares Beneficially Owned | 18 | 18 |
| Ownership (% of outstanding) | <1% | <1% |
| Equity awards (RSUs/PSUs/options) | None | None |
| Shares pledged as collateral | Not disclosed | Not disclosed |
| Stock ownership guidelines (multiple of salary) | Not disclosed | Not disclosed |
| Compliance with ownership guidelines | Not disclosed | Not disclosed |
Section 16 compliance note:
- CYCN disclosed an inadvertent late Form 3 filing by Ms. Chicko in March 2024 .
Employment Terms
| Term | Detail |
|---|---|
| Employment start | Consulting CFO since January 2024; named CFO March 4, 2024 |
| Status | Independent contractor; part-time; hourly compensation |
| Contract term/auto-renewal | Not disclosed |
| Severance | None disclosed for Ms. Chicko |
| Change-of-control | None disclosed for Ms. Chicko |
| Vesting/accelerated vesting | No equity awards for Ms. Chicko |
| Clawback policy | Company adopted a compensation recovery policy on Nov 30, 2023 (Exhibit 97.1) |
| Non-compete / Non-solicit | Not disclosed |
| Garden leave / Post-termination consulting | Not disclosed |
Additional governance/controls context:
- Ms. Chicko signs SOX 302 and 906 certifications as Principal Financial and Accounting Officer on periodic reports (10-K, 10-K/A, and 10-Q) .
Investment Implications
- Compensation alignment: As an hourly consultant with no equity awards or bonus plan, Chicko’s compensation has minimal direct linkage to revenue/TSR/EBITDA metrics; this reduces pay-for-performance leverage but preserves cash in a resource-constrained issuer .
- Retention risk and selling pressure: Part-time consulting status implies moderate retention risk versus a traditional employee; insider selling pressure is de minimis given 18 shares owned and no equity grants outstanding .
- Governance and controls: Regular SOX certifications underscore accountability for disclosure controls and financial reporting; however, CYCN’s 10-K/A notes substantial doubt about going concern, elevating execution risk irrespective of CFO structure .
- Change-of-control/severance economics: No severance or CIC protections disclosed for Chicko, implying low shareholder liability in a transaction; company-wide clawback policy exists, mitigating misconduct risk on incentive compensation (limited for Chicko) .
- Performance context: CYCN’s net loss narrowed in 2024 vs 2023 and TSR index declined year-over-year; revenue in 2024 was modest, consistent with an early pipeline relaunch posture and a lean consulting model .