Peter Wulff
About Peter Wulff
Peter C. Wulff is the Chief Financial Officer, Treasurer, and Secretary of Glucotrack (GCTK), appointed January 28, 2025, age 65, with over 40 years of financial and operating experience in emerging growth life sciences; he holds an MBA in Finance and a BA in Economics and Germanic Languages from Indiana University . Prior to appointment he served as a financial consultant to the company and has no familial relationships or related party transactions with the company disclosed under Item 404(a) . He signed SOX 302 certifications in Q3 2025, indicating responsibility for disclosure controls and internal control over financial reporting . Company-level TSR, revenue growth, and EBITDA growth during his tenure are not disclosed in the sources reviewed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Biological Dynamics, Inc. | Chief Financial Officer | Jan 2023 – Jun 2024 | Early cancer detection platform; finance leadership in life sciences . |
| JenaValve Technology, Inc. | Chief Financial Officer | Aug 2015 – Apr 2022 | Led corporate relocation from Germany; managed capital raises including equity, debt, and IP out-licensing . |
| PURE Bioscience, Inc. | Executive financial officer (CFO) | Nov 2012 – Jul 2015 | Directed accounting, finance, and investor relations . |
| Alphatec Spine Holdings | Executive financial officer (CFO) | Jun 2008 – Apr 2011 | Directed accounting, finance, and investor relations . |
| Artes Medical Inc. | Executive financial officer (CFO) | Jan 2005 – May 2008 | Directed accounting, finance, and investor relations . |
| CryoCor, Inc. | Executive financial officer (CFO) | May 2001 – May 2004 | Directed accounting, finance, and investor relations . |
External Roles
No current public company board roles or external directorships are disclosed in the filings reviewed .
Fixed Compensation
| Component | 2025 | 2026 | Notes |
|---|---|---|---|
| Base Salary ($) | $300,000 | $450,000 | At-will agreement; change effective 2026 . |
| Target Annual Bonus (% of Base) | — | Up to 15% | Contingent on targets; paid after audit and earnings announcement subject to cash availability . |
| Actual Annual Bonus Paid ($) | Not disclosed | Not disclosed | Pro-rata eligibility on certain terminations . |
Performance Compensation
| Metric | Target | Payout | Timing | Weighting | Vesting |
|---|---|---|---|---|---|
| Financing transactions closed | $6 million cumulative | $75,000 | End of month of achievement (or soon after) | — | Cash (no vesting) . |
| Financing transactions closed | $12 million cumulative | $125,000 | End of month of achievement (or soon after) | — | Cash (no vesting) . |
| Financing transactions closed | $18 million cumulative | $62,500 | End of month of achievement (or soon after) | — | Cash (no vesting) . |
| Annual performance bonus (2026+) | Goals to be defined annually | Up to 15% of base salary | After audit and earnings announcement (≤ 2.5 months post-fiscal year) | — | Cash (no vesting) . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership as of Evaluation Date | “—” shares; less than 1% of outstanding (25,585,853 shares outstanding basis) . |
| Initial option grant | Options to purchase a number of shares equal to 1.25% of outstanding common stock as of the effective date; exercise price at fair market value on grant date . |
| Option vesting | 1/3 vests on first anniversary of grant; remaining vests monthly over two years in equal portions . |
| Additional option eligibility | Eligible for additional option grant by 12/31/2025, subject to Board approval and achievement of financial transaction goals . |
| Change-in-control treatment (2024 Equity Incentive Plan) | Administrator may continue/assume/substitute awards; may accelerate vesting with performance deemed at target; if successor refuses to assume/substitute, full vesting and exercise rights apply . |
| Transferability and recoupment | Awards generally not transferable or pledgable; subject to reduction/recoupment/clawback per applicable laws and Company policy . |
| Stock ownership guidelines | Not disclosed in reviewed filings. |
| Pledging/Hedging | Not disclosed in reviewed filings; plan prohibits pledging unless administrator permits . |
Employment Terms
| Term | Detail |
|---|---|
| Employment type | At-will; terminable by Company with/without cause or disability; by executive with/without good reason; or upon death . |
| Good Reason definition | (A) assignment of significantly different duties causing substantial diminution; (B) material breach by Company; (C) required relocation >50 miles; notice and cure procedures apply . |
| Notice of termination | Written notice required indicating provision and facts; failure to provide timely notice does not affect employment status . |
| Compensation upon termination (general) | Base salary and accrued but unused vacation through termination; pro-rated annual bonuses; reimbursement of reasonable expenses . |
| Severance benefits | For fiscal years 2026 and 2027, Board will evaluate financing goals and Company health and amend Section 5 if appropriate to provide severance benefits in line with market norms; no explicit multiple currently disclosed . |
| Clawback rights | Annual bonus and stock-based compensation subject to clawback for restatements due to material non-compliance; conforms to Dodd-Frank; three-year post-termination window; Compensation Committee determinations final . |
| Equity plan change-in-control | Potential acceleration and target-level performance deemed achieved; full vesting if successor does not assume/substitute . |
| Non-compete / Non-solicit / Garden leave | Not disclosed in the reviewed filings. |
Performance & Track Record
- Press release cites strong capital markets and strategic planning experience; led JenaValve’s relocation from Germany and managed multiple capital raise transactions including equity, debt, and IP out-licensing .
- Company executed financing transactions in early 2025: ATM program raising ~$3.6M net on March 21, 2025 and registered direct offering raising ~$2.7M net on Feb 5, 2025; these are corporate financings contemporaneous with his appointment but the filings do not disclose any bonus payouts to Mr. Wulff .
- Signed SOX 302 certification for Q3 2025, affirming responsibility for fair presentation, controls, and disclosure procedures as Principal Financial Officer .
Compensation Structure Analysis
- 2025 compensation places heavy emphasis on at-risk cash bonuses linked to discrete financing milestones, aligning near-term incentives with capital raising rather than operational or TSR metrics .
- From 2026 onward, the structure shifts to higher fixed cash compensation ($450k base) and a relatively modest annual bonus opportunity (up to 15% of base), indicating increased guaranteed pay and lower variable leverage vs. 2025 .
- Initial and potential additional option grants tie long-term incentives to equity value, with vesting featuring a one-year cliff followed by monthly vesting, which may create steady post-cliff supply if options are exercised and sold, though no insider transactions are disclosed in filings reviewed .
- Clawback provisions cover both bonuses and stock-based compensation in the event of material non-compliance-driven restatements, consistent with Dodd-Frank requirements ; plan-level recoupment and anti-pledging rules further reinforce governance .
Equity Ownership & Beneficial Ownership Table
| Evaluation Date | Shares Beneficially Owned | Percent of Common Stock |
|---|---|---|
| April 18, 2025 (PRE 14A) | — | <1% |
| Evaluation Date (10-K FY2024) | — | <1% |
Fixed vs Performance Pay Tables
Base Salary and Target Bonus
| Metric | 2025 | 2026 |
|---|---|---|
| Base Salary ($) | $300,000 | $450,000 |
| Target Annual Bonus (% of Base) | — | Up to 15% |
2025 Milestone Bonuses
| Financing Milestone | Payout ($) | Payment Timing |
|---|---|---|
| $6 million cumulative transactions | $75,000 | End of month of achievement (or soon thereafter) |
| $12 million cumulative transactions | $125,000 | End of month of achievement (or soon thereafter) |
| $18 million cumulative transactions | $62,500 | End of month of achievement (or soon thereafter) |
Equity Awards Structure
| Award Type | Grant Size | Strike | Vesting | Change-in-Control Treatment |
|---|---|---|---|---|
| Stock Options (initial) | 1.25% of outstanding common as of effective date | FMV at grant | 1/3 at first anniversary; remainder monthly over two years | Administrator may accelerate; target-level performance deemed achieved; full vesting if successor refuses to assume/substitute |
| Additional Option Eligibility | Subject to Board approval and financing goals by 12/31/2025 | — | — | Same plan rules apply |
Employment Terms Table (Key Provisions)
| Provision | Detail |
|---|---|
| At-Will Status | Termination by Company with/without cause or disability; by Executive with/without Good Reason; or upon death . |
| Good Reason | Duties materially diminished, Company breach, or relocation >50 miles; notice and cure required . |
| Termination Payments | Base salary, accrued but unused vacation, pro-rated annual bonus, and expense reimbursement . |
| Severance | To be evaluated; potential future amendment to provide market-normal severance (no current multiples disclosed) . |
| Clawbacks | Bonus and stock-based comp subject to recovery upon material non-compliance restatements; three-year tail; Dodd-Frank conforming . |
| Plan Recoupment / Pledging | Awards subject to reduction/recoupment; not transferable/pledgeable unless allowed by administrator . |
Investment Implications
- Near-term incentives focus on financing milestones; monitor capital markets activity (ATM usage, registered directs) as potential triggers for 2025 bonus payouts, though no bonus payments are disclosed to date .
- Option vesting structure (one-year cliff then monthly vesting over two years) suggests potential incremental supply beginning one year post-grant; watch Form 4 filings around the anniversary date for exercise/sales behavior and associated selling pressure .
- Absence of defined severance multiples and reliance on future Board evaluation introduces retention and negotiation dynamics if corporate conditions change; this can affect perceived stability of the finance function during pivotal fundraising/commercialization phases .
- Strong governance features—SOX 302 certification and comprehensive clawback policies—support control quality and pay accountability, reducing tail risk from restatements and misaligned incentives .
- No disclosed pledging or ownership guideline compliance status; beneficial ownership is not material as of April 2025, so incremental alignment will depend on the scale and terms of equity grants and future accumulation through vesting/exercise .