Jerome Wong
About Jerome Wong
Jerome Wong (age 51) is Chief Financial Officer and Corporate Secretary of Ekso Bionics, appointed October 26, 2022, after serving as Interim CFO from June–October 2022 and as Controller since May 2017; he is a Canadian Chartered Professional Accountant with a B.A. in Finance and Accounting from the University of British Columbia . During his tenure as a senior finance leader, company TSR for a hypothetical $100 investment was $44.91 (FY22), $94.34 (FY23), and $23.02 (FY24), reflecting a volatile period post the December 2022 acquisition integration and capital structure actions . Revenue grew from FY22 to FY23 and moderated in FY24, while EBITDA losses narrowed over FY22–FY24 (see Performance & Track Record) (*Values retrieved from S&P Global).
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ekso Bionics | Chief Financial Officer & Corporate Secretary | Oct 2022–Present | Senior finance leader; responsible for reporting, capital markets; appointed after interim CFO . |
| Ekso Bionics | Interim Chief Financial Officer | Jun 2022–Oct 2022 | Transition leadership; salary/bonus increased; $150k RSU grant to support continuity . |
| Ekso Bionics | Controller | May 2017–Jun 2022 | Led controllership during growth and pre-/post-acquisition transition . |
| Pattern Energy Group Inc. | Assistant Corporate Controller (finance roles) | Oct 2014–Dec 2015 | Public company finance in energy infrastructure . |
| XOMA Corporation | Corporate Controller | Jul 2009–Oct 2014 | Life sciences public company finance . |
| ABM Industries, Inc. | Corporate Controller | Jul 2006–Sep 2008 | Public company finance and controls . |
External Roles
- No external public-company directorships disclosed in company biographies reviewed .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of Salary) | Actual Bonus Paid ($) |
|---|---|---|---|
| 2023 | 325,000 | 50% | 151,390 |
| 2024 | 325,000 | 50% | 54,600 |
Notes:
- Wong’s CFO offer letter sets an annual salary of $325,000 and eligibility for up to 50% target bonus; severance equals 6 months’ salary if terminated without cause .
Performance Compensation
Annual Cash Incentive (STIP) – FY2024 Design and Outcome
| Metric | Weighting | Target Definition | Actual Achievement | Payout ($) | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Revenue, Cash Spend, and Key Milestones (two performance periods: H1 and Full-Year) | H1 35%; FY 65% | Board/Comp Committee-set operational and strategic goals (revenue model, brand, reimbursement, product/regulatory, operations) | 51% (H1); 24% (Full-Year) | 54,600 | Cash paid after period |
Equity Awards and Vesting
| Award Type | Quantity | Exercise/Grant Price | Expiration | Vesting Commencement | Vesting Schedule | Status (12/31/2024) |
|---|---|---|---|---|---|---|
| Stock Options | 2,334 | $17.85 | 08/28/2027 | — | Per award | Exercisable |
| Stock Options | 3,000 | $26.39 | 07/13/2028 | — | Per award | Exercisable |
| RSUs | 27,778 | — | — | 06/17/2023 | 3 equal annual installments on anniversaries | Unvested portion outstanding |
| RSUs | 56,689 | — | — | 12/05/2024 | 3 equal annual installments on anniversaries | Unvested portion outstanding |
Related provisions:
- Company clawback policy adopted Oct 2023 in line with Dodd-Frank/Nasdaq applies to incentive comp tied to financial reporting measures .
- No Rule 10b5-1 trading plans adopted by directors or executives as disclosed .
Equity Ownership & Alignment
| Component (as of 03/18/2025) | Amount |
|---|---|
| Beneficial Ownership (shares) | 164,066 total |
| • Common Stock (direct) | 69,265 |
| • RSUs (vested and unissued or vesting within 60 days) | 89,467 |
| • Options (exercisable or exercisable within 60 days) | 5,334 |
| Ownership as % of Outstanding | <1% |
| Hedging Policy | Hedging/monetization transactions prohibited for directors/officers/employees |
Context on option moneyness:
- Wong’s option exercise prices are $17.85 and $26.39; the last reported sale price was $1.57 on April 10, 2024 and $0.43 on March 18, 2025, indicating options were out-of-the-money at those dates .
Employment Terms
| Term | Details |
|---|---|
| CFO Appointment | Oct 26, 2022; previously Interim CFO (Jun–Oct 2022); Controller (May 2017–Jun 2022) . |
| Base Salary | $325,000 per year . |
| Target Bonus | Up to 50% of base salary, based on Company and individual milestones . |
| Initial Equity on Promotion | $250,000 RSUs vesting in equal annual installments over 3 years from 12/04/2022 . |
| Severance | If terminated without cause: salary continuation for 6 months . |
| Change-in-Control (Plan-Level) | Under 2014 Equity Plan, if awards are not assumed/substituted on a change-in-control, outstanding awards may vest (performance awards to actual or pro-rata achievement); administrator discretion applies . |
| Indemnification | Standard form officer indemnification agreement referenced . |
Performance & Track Record
Financial Trajectory (Annual)
| Metric (USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues | $12,912,000* | $18,279,000* | $17,925,000* |
| EBITDA | $(14,669,000)* | $(13,414,000)* | $(8,852,000)* |
Values retrieved from S&P Global.
Market Performance (Pay vs Performance TSR)
| Period | TSR Value of $100 Initial Investment |
|---|---|
| FY 2022 | $44.91 |
| FY 2023 | $94.34 |
| FY 2024 | $23.02 |
Notable corporate developments/context:
- Acquisition integration: Audit disclosures reference Parker Hannifin’s human motion control business acquired in Dec 2022, with related audit services noted in 2023–2024, contextualizing post-deal integration and reporting complexity .
- Capital structure and listing compliance: Reverse stock split authorization (1-for-5 to 1-for-15) and Nasdaq minimum bid remediation path; last sale price $0.43 on March 18, 2025 .
Compensation Committee & Governance Notes
- Compensation Committee (2025): Charles Li (Chair), Deborah Lafer Scher (member), both independent under Nasdaq rules .
- Consultant usage: Committee did not engage an independent consultant in 2024; intends to before next say-on-pay cycle . In 2023, Compensia was engaged for benchmarking and program design .
- Clawback: Dodd-Frank/Nasdaq-compliant recovery policy adopted Oct 2023 .
Investment Implications
- Pay-for-performance alignment: FY2024 cash bonus paid at reduced outcomes (51% H1; 24% FY achievement), aligning with operational underperformance vs targets; no new 2024 executive equity grants disclosed, though Wong carries multi-year RSU tranches that vest through 2026, preserving retention incentives .
- Selling pressure and vesting overhang: Material RSU vest dates (June 17 and December 5 anniversaries) may create episodic liquidity events; options appear out-of-the-money at recent prices, reducing option-driven selling pressure .
- Retention risk: Contractual protection for Wong is modest (six months’ salary severance, no disclosed change-of-control cash multiple), partially offset by remaining unvested RSUs and plan-level change-in-control vesting mechanics if awards are not assumed .
- Alignment and governance: Hedging prohibited; clawback policy in place; absence of 10b5-1 plans suggests discretionary trading may remain limited to open windows; beneficial ownership is <1% but meaningful for a micro-cap executive, with the bulk in time-vested RSUs rather than performance shares .
- Performance context: Revenue improved from FY22 to FY23 then eased in FY24, while EBITDA losses narrowed materially over the period; TSR volatility and listing compliance actions (reverse split authorization, inducement warrant) imply elevated equity risk and dilution considerations that may overshadow executive-specific trading signals in the near term . Values retrieved from S&P Global.