Sandra Gurrola
About Sandra Gurrola
Sandra Gurrola, 58, is Senior Vice President, Finance at ERNA. She has served as SVP since May 2023 and previously as VP of Finance from June 2021 to May 2023; she holds a B.A. in English from San Diego State University . Company performance context over her NEO tenure shows Total Shareholder Return values of 0.31 (2024), 1.89 (2023), and 87.79 (2022), with GAAP net losses of $44,539k (2024), $21,668k (2023), and $24,579k (2022) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ERNA | Senior Vice President, Finance | May 2023–present | Senior finance leadership supporting corporate execution |
| ERNA | Vice President, Finance | Jun 2021–May 2023 | Led finance during transition period and operational reporting |
| NTN Buzztime, Inc. | Senior Vice President, Finance | Sep 2019–Mar 2021 | Senior finance leadership at a public company |
| NTN Buzztime, Inc. | Vice President, Finance | 2014–2019 | Finance leadership, reporting and compliance |
| NTN Buzztime, Inc. | Controller; Director of Accounting; Director of Financial Reporting & Compliance | 2009–2014 | Accounting leadership and SEC reporting |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| eGames.com Holdings, LLC | Senior Vice President | Mar 2021–Jun 2021 | Senior operational finance role |
| ERNA (consultant) | Consultant | Pre-Jun 2021 | Advisory support prior to joining finance leadership |
| Metabasis Therapeutics, Inc. | Senior Manager, Financial Reporting | Prior role (date not specified) | Financial reporting in biotech |
Fixed Compensation
| Year | Base Salary (US$) | Target Bonus % | Actual Bonus Paid (US$) | One-time/Catch-up Payments (US$) |
|---|---|---|---|---|
| 2024 | $275,000 | 35% of base salary (per employment agreement) | $0 (no bonus reported) | — |
| 2023 | $255,833 | 35% of base salary | $50,050 (discretionary spot bonus) | $33,542 catch-up for salary increase effective 5/5/2023 |
| Employment terms | Initial base salary $220,000 (set June 2021) | Bonus determined by Board/Comp Committee; paid by Mar 15 following year | — | Base raised to $275,000 in Dec 2023 |
Performance Compensation
Annual/Short-Term Incentives
- For 2024, no performance goals were established for any named executive officer; annual bonuses are discretionary and may consider metrics such as revenue, R&D milestones, strategic transactions, and other drivers of long-term shareholder value .
- Sandra’s employment agreement provides eligibility for an annual cash bonus up to 35% of base salary upon achievement of agreed performance targets .
Equity Awards – RSUs
| Grant Date | Type | Shares Granted | Vesting | Unvested at 12/31/2024 (#) | Market Value at 12/31/2024 (US$) |
|---|---|---|---|---|---|
| 6/21/2021 | RSU | 1,750 (per employment agreement) | 25% annually on grant anniversary; continuous employment required | 437 | $127 |
Equity Awards – Options
| Grant Date | Type | Exercisable (#) | Unexercisable (#) | Exercise Price (US$) | Expiration | Vesting Schedule |
|---|---|---|---|---|---|---|
| 3/11/2022 | Non-qualified option | 5,725 | 478 | $38.60 | 3/11/2032 | 36 substantially equal monthly installments |
| 4/26/2024 | Non-qualified option | — | 80,000 | $1.74 | 4/26/2034 | One-third vests on 4/26/2025; remaining vests in 24 equal monthly installments |
| Equity value recognized | Option-based awards recognized in 2024: $110,198 (ASC 718 grant-date fair value) | — | — | — | — | — |
Pay Versus Performance (context for incentives)
| Year | Average Non-PEO NEO SCT Total (US$) | Average Non-PEO NEO Compensation Actually Paid (US$) | Company TSR (Value of $100) | GAAP Net Loss (US$ thousands) |
|---|---|---|---|---|
| 2024 | $385,198 | $285,209 | $0.31 | $(44,539) |
| 2023 | $333,996 | $328,318 | $1.89 | $(21,668) |
| 2022 | $792,978 | $65,814 | $87.79 | $(24,579) |
Equity Ownership & Alignment
| Holder | Common Shares Beneficially Owned | % of Common Shares Outstanding |
|---|---|---|
| Sandra Gurrola | 35,799 | Less than 1% |
- Outstanding awards at 12/31/2024: RSUs unvested 437 (market value $127) ; options exercisable 5,725 and unexercisable 478 (3/11/2022 grant) ; additional unexercisable 80,000 (4/26/2024 grant) .
- Hedging and pledging: Company policy prohibits hedging transactions and pledging of company securities; margin purchases and borrowing against accounts with company securities are also prohibited .
Employment Terms
| Provision | Non–Change in Control | Change in Control Window |
|---|---|---|
| Employment Agreement Date | June 16, 2021; employment commenced June 21, 2021 | — |
| Base Salary | $275,000 as of Dec 2023 (from $220,000 initial) | — |
| Annual Bonus Eligibility | Up to 35% of base salary; discretionary, paid by Mar 15 following performance year | Lump-sum payment of target bonus upon qualifying termination within CIC window |
| Severance | Continuation of salary and benefits for 6 months upon termination without Cause or for Good Reason, plus accrued but unpaid amounts | Continuation of salary and benefits for 12 months, lump-sum target bonus; 2021 RSUs fully vest upon qualifying termination within 90 days before or 12 months after a CIC; release requirement applies |
| Clawback | 2023 clawback policy to recover erroneously awarded incentive-based compensation for prior 3 fiscal years; Nasdaq-compliant |
Performance Compensation Details
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash bonus (2024) | Discretionary; committee retains full discretion | Not established for NEOs in 2024 | — | $0 (no bonus reported) | Paid by Mar 15 following performance year |
| RSU (6/21/2021) | Time-based | 25% annually | Ongoing; 437 unvested at 12/31/2024 | — | Annual anniversaries; accelerates upon qualifying CIC termination |
| Options (3/11/2022) | Time-based | Monthly vesting | 5,725 exercisable; 478 unexercisable at 12/31/2024 | — | Monthly vesting; standard option expiration 3/11/2032 |
| Options (4/26/2024) | Time-based | 1/3 at 1-year; remainder monthly | 80,000 unexercisable at grant; 1/3 vests on 4/26/2025 | — | Monthly thereafter; expiration 4/26/2034 |
Risk Indicators and Policies
- Hedging/pledging prohibited; margin purchases and borrowing against accounts holding company securities prohibited .
- Clawback policy adopted in 2023, aligned with Nasdaq listing rules .
- Compensation committee oversight of performance metrics, equity plans, employment and severance arrangements; members independent under Nasdaq rules .
Investment Implications
- Alignment: Gurrola’s equity incentives include time-based RSUs and options with multi-year vesting, reinforcing retention and alignment; no performance-based PSU metrics disclosed for 2024, with bonuses discretionary and no goals set for NEOs, reducing explicit pay-for-performance linkage in the short term .
- Vesting/selling pressure: A sizeable 80,000-share option vests one-third on 4/26/2025, then monthly for 24 months, which may add periodic vest-driven liquidity over 2025–2027; additional monthly vesting continues on the 3/11/2022 option, supporting ongoing equity accrual .
- Retention/CIC economics: Severance provides 6 months of salary/benefits for non-CIC terminations and 12 months plus target bonus with RSU acceleration upon qualifying CIC termination (termination within defined window), offering moderate retention while creating potential CIC-related acceleration dynamics .
- Ownership: Beneficial ownership is modest (<1%), but coupled with unvested RSUs and options; company prohibits hedging and pledging, which mitigates misalignment risks .