Daniel O’Connor
About Daniel O’Connor
Daniel J. O’Connor (age 60) joined the DiaMedica Therapeutics Inc. (DMAC) Board on February 20, 2025 and serves as an independent director with audit committee financial expert designation. He is a former CEO of Ambrx Biopharma (sold to J&J in March 2024) and previously led multiple biotech companies and legal/compliance functions; he holds a JD from Penn State Dickinson Law and is a U.S. Marine Corps veteran (Captain) . Tenure on DMAC’s board began in 2025; the Board affirmatively determined his independence under Nasdaq Listing Rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ambrx Biopharma Inc. (Nasdaq: AMAM) | President & CEO; Director | Nov 2022 – Mar 2024 | Led company through growth and sale to Johnson & Johnson |
| Larkspur Health Acquisition Corp. (SPAC, now ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA)) | CEO & Chairman | Jun 2021 – Dec 2022 | Completed merger; continued on ZyVersa board until May 2023 |
| OncoSec Medical Incorporated | President & CEO; Director | Sep 2017 – Jun 2021 | Cancer immunotherapy leadership |
| Advaxis, Inc. | President & CEO; Director | Jan 2013 – Jul 2017 | Strategy and capital markets execution |
| Bracco Diagnostics Inc. | SVP & General Counsel | Prior to 2013 | Legal leadership in diagnostics |
| NPS Pharmaceuticals, Inc. | Asst. General Counsel; CCO; Consultant | Prior to 2013 | Compliance leadership |
| ImClone Systems Incorporated | SVP, General Counsel & Secretary | Prior to 2013 | Biopharma legal leadership |
| PharmaNet (inVentiv Health → Syneos Health) | General Counsel | Prior to 2013 | CRO legal leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ZyVersa Therapeutics, Inc. (Nasdaq: ZVSA) | Director | Until May 2023 | Continued service after SPAC merger |
| Seelos Therapeutics Inc. | Director | Jan 2019 – May 2024 | Public company board experience |
| BioNJ | Vice Chairman; Trustee | Mar 2016 – Nov 2021 | Industry leadership |
| New Jersey Biotechnology Task Force | Appointee | Oct 2017 | Governor-appointed member |
Board Governance
- Committee assignments: Audit Committee member and Nominating & Corporate Governance Committee member; Audit Committee chaired by James Parsons; O’Connor designated an “audit committee financial expert” (SEC rules/Nasdaq) .
- Independence: Board determined O’Connor and a majority of directors are independent under Nasdaq Listing Rules .
- Attendance and engagement: In FY2024, Board met 6 times; Audit 4; Compensation 5; Nominating 4; Scientific & Clinical Research 3; all directors met the ≥75% attendance threshold; independent director executive sessions occurred five times in 2024 (precedent for board cadence; O’Connor joined in 2025) .
- Leadership structure: Independent Chairman (James Parsons); regular executive/in‑camera sessions and access to independent advisors .
- Director nomination and refresh: O’Connor was identified by third‑party advisors and appointed effective Feb 20, 2025, reflecting ongoing refreshment .
Fixed Compensation
| Description | Annual Cash Retainer |
|---|---|
| Board Member | $40,000 |
| Chairman of the Board (additional) | $30,000 |
| Audit Committee Chair | $15,000 |
| Audit Committee Member (excluding Chair) | $7,500 |
| Compensation Committee Chair | $10,000 |
| Compensation Committee Member (excluding Chair) | $5,000 |
| Nominating & Corporate Governance Committee Chair | $8,000 |
| Nominating & Corporate Governance Committee Member (excluding Chair) | $4,000 |
| Scientific & Clinical Research Committee Chair | $8,000 |
| Scientific & Clinical Research Committee Member (excluding Chair) | $4,000 |
- Directors may elect DSUs or RSUs in lieu of up to 100% of cash retainers; awards sized using a 10‑day average price and vest quarterly during the year .
Performance Compensation
| Award Type | Grant Date | Shares/Units | Exercise Price | Vesting Schedule | Notes |
|---|---|---|---|---|---|
| Initial Non‑Employee Director Stock Option | Feb 20, 2025 | 64,242 options | FMV on grant date | 12 equal quarterly installments over 3 years, service‑based | Initial director option size increased to 0.15% of outstanding shares; annual options increased to 0.075% (program change in May 2024) |
| Annual Non‑Employee Director Stock Option (program terms) | Jun 1 annually | Size = 0.075% of shares; Chair +0.02% | 100% FMV | Vests quarterly over 1 year | 10‑year term; example FY2024 annual options 28,472 shares at $2.90; Chair received +7,593 |
No director performance metrics (TSR/EBITDA) are tied to director pay; equity is time‑vested and intended for alignment .
Other Directorships & Interlocks
- Current public company directorships disclosed: None; prior boards at ZyVersa and Seelos noted above .
- Interlocks: No related‑party transactions or selection arrangements reported for O’Connor under Item 404(a); standard indemnification agreement executed .
- Independent compensation consultant Alpine Rewards advises on executive and non‑employee director compensation; peer group methodology used .
Expertise & Qualifications
- Audit/financial: Audit committee financial expert designation; extensive executive leadership at Nasdaq‑listed companies .
- Capital markets/M&A: Led Ambrx through sale to J&J; SPAC sponsor/operator experience .
- Legal/compliance: Senior legal roles across biopharma/CRO; Chief Compliance experience .
- Clinical/biopharma strategy: CEO roles in immuno‑oncology; governance leadership (BioNJ; state task force) .
Equity Ownership
| Holder | Beneficial Ownership (as of Mar 18, 2025) | % Outstanding | Notes |
|---|---|---|---|
| Daniel O’Connor | 0 shares | <1% | No options/RSUs exercisable within 60 days at record date; separate initial option grant exists (see above) |
- Anti‑hedging and pledging prohibited by Insider Trading Policy; publicly traded options and margin accounts also prohibited . Insider Trading Policy and governance documents available; anti‑hedging/pledging policy disclosed .
- Director stock ownership guidelines referenced in Corporate Governance Guidelines (topic included), though specific multiples are not detailed in the proxy .
Governance Assessment
- Strengths for investor confidence: Independent status; audit committee financial expert; no related‑party transactions; robust anti‑hedging/pledging policy; independent chair; regular executive sessions; use of an independent comp consultant for director pay .
- Alignment: Initial option grant with multi‑year vesting supports retention and alignment; DSU/RSU elective program further aligns director interests with shareholders .
- Board effectiveness signals: Active committee service (Audit, Nominating), recent board refresh (2023–2025 adds), and established meeting cadence/attendance standards .
- Watch items: Standard indemnification/expense advancement applies (common in biotech; not a red flag); no disclosed conflicts or pledging; continued monitoring of any future outside board roles for potential interlocks or related‑party exposures .
- Shareholder feedback context: Say‑on‑pay support ~96% at prior AGM indicates general support for compensation governance framework (executives; directional governance signal) .