Alan Urban
About Alan Urban
Alan Urban, age 56, is Chief Financial Officer & Secretary of GT Biopharma, appointed June 3, 2024; he is a Certified Public Accountant (currently inactive) since 1998 and holds a B.S. in Business (Accounting Theory and Practice) from California State University, Northridge . Prior roles include CFO positions across SaaS, scientific content, fintech, and cryptocurrency mining, providing multi-sector finance leadership experience . Company performance context: cumulative TSR (value of a fixed $100 investment) declined from $28.31 (2022) to $8.15 (2023) and to $3.25 (2024), while net loss was $20.884M (2022), $7.597M (2023), and $13.162M (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GT Biopharma (Board) | Director | Jun 2022 – May 2023 | Governance experience at GTBP prior to CFO role |
| SRAX, Inc. (OTC: SRAX) | Chief Financial Officer | Mar 2023 – Jul 2023 | Finance leadership in fintech |
| Creek Road Miners, Inc. (formerly OTC: CRKR) | Chief Financial Officer | Nov 2021 – Mar 2023 | Finance leadership in cryptocurrency mining |
| Research Solutions, Inc. (NASDAQ: RSSS) | Chief Financial Officer & Secretary | Oct 2011 – Oct 2021 | Decade-long public-company CFO tenure in SaaS/STM content |
| ReachLocal, Inc. (NASDAQ: RLOC) | Chief Financial Officer & SVP Finance/Accounting | Not disclosed | Senior finance role in internet marketing |
| Infotrieve, Inc. | Vice President of Finance & Treasurer | Not disclosed | Finance leadership in STM content |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SRAX, Inc. | CFO (outside GTBP) | Mar 2023 – Jul 2023 | External public-company finance role |
| Creek Road Miners, Inc. | CFO (outside GTBP) | Nov 2021 – Mar 2023 | External public-company finance role |
| Research Solutions, Inc. | CFO & Secretary (outside GTBP) | Oct 2011 – Oct 2021 | External public-company finance role |
Fixed Compensation
| Component | 2024 | Notes |
|---|---|---|
| Annual Base Salary ($) | $218,750 | Paid amount in 2024 per Summary Compensation Table |
| Annual Discretionary Bonus ($) | $87,500 | Paid amount in 2024 |
| Stock Awards ($) | — | No RSUs/PSUs reported for 2024 |
| Option Awards (Grant-date fair value, $) | $40,681 | Valued under ASC 718 |
| All Other Compensation ($) | $30,851 | Includes $22,453 medical insurance and $8,398 employer 401(k) contributions |
| Total ($) | $377,782 | 2024 total compensation |
| Ongoing Compensation Terms | Value | Effective Date | Notes |
|---|---|---|---|
| Annual Base Salary | $375,000 | Jun 3, 2024 | Employment Agreement start |
| Annual Base Salary | $393,750 | Jan 1, 2025 | Increased May 22, 2025, effective Jan 1, 2025 |
| Target Bonus % | Up to 40% of base | Ongoing | Discretionary, subject to Company and individual performance goals |
| Equity | Stock award eligibility | ~3 months after Effective Date | Eligibility per Employment Agreement |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout Form | Vesting |
|---|---|---|---|---|---|---|
| Annual Discretionary Bonus | Company and individual performance goals (Company’s sole discretion) | Not disclosed | Up to 40% of base salary | $87,500 (2024) | Cash | N/A |
| Stock Options (2024 awards) | Service-based vesting | N/A | N/A | $40,681 grant-date fair value (ASC 718) | Options | 1/36 monthly from June 3, 2024; subject to acceleration |
Equity Ownership & Alignment
| Ownership Item | Detail |
|---|---|
| Beneficial Ownership (shares) | 8,427 shares |
| Ownership % of Outstanding | 0.3% (out of 3,147,995 shares outstanding as of June 10, 2025) |
| Options Exercisable | 4,537 options at $2.11 strike, expiring 10/17/2034 |
| Options Unexercisable | 18,798 options at $2.11 strike, expiring 10/17/2034 |
| Vesting Schedule | 1/36 monthly on the anniversary of June 3, 2024 until fully vested; subject to acceleration |
| Hedging/Pledging Policy | Insider Trading Policy prohibits short sales, puts/calls/derivatives, and other hedging; as of proxy date, no executive officers or non-employee directors had engaged in hedging or pledging |
| Stock Ownership Guidelines | Not disclosed in proxy |
Employment Terms
| Term | Provision |
|---|---|
| Employment Start | Effective June 3, 2024; Employment Agreement signed June 7, 2024 |
| Initial Term | One year, auto-renews for successive one-year periods unless either party gives 60 days’ advance written notice prior to renewal term |
| Base Salary | $375,000 at start; increased to $393,750 effective Jan 1, 2025 (approved May 22, 2025) |
| Bonus Eligibility | Discretionary bonus up to 40% of base salary annually, subject to Company/individual performance goals |
| Severance (No Cause/Good Reason) | First 6 months from Effective Date: 2 months’ base salary; thereafter: 5 months’ base salary; lump sum within 70 days of termination (or shorter to be exempt from 409A); subject to withholdings |
| Severance (For Cause/Without Good Reason) | Accrued amounts only |
| Covenants | Non-disclosure during employment and thereafter |
| Change-of-Control | Not specifically disclosed; options noted “subject to acceleration” |
| Benefit Plans | Eligible to participate in Company benefit plans |
| Signatures on Filings | CFO signature on multiple 8-K filings in 2024–2025 |
Pay vs Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Cumulative TSR (Value of $100 invested) | $28.31 | $8.15 | $3.25 |
| Net Loss ($USD Thousands) | $20,884 | $7,597 | $13,162 |
Director Compensation (Pre-CFO Board Tenure)
| Year | Role | Cash Fees ($) | Stock Awards ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|---|
| 2023 | Non-employee Director | $22,917 | — | — | $22,917 |
Board Governance Touchpoints
- Compensation Committee currently consists of Mr. Mun-Gavin (Chairman), Mr. Casamento, and Ms. Kramer; oversees executive compensation philosophy and plans .
- Audit Committee consists of Mr. Casamento (Chairman), Ms. Kramer, and Mr. Mun-Gavin; committee operations per charter adopted January 28, 2021 .
- 2025 proxy includes advisory “say-on-pay” proposal; Board recommends voting FOR executive compensation .
Investment Implications
- Cash/equity mix: 2024 compensation was predominantly salary and cash bonus, with modest option grant-value ($40,681), implying limited near-term alignment via performance equity; the bonus is discretionary with goals set by the Company, reducing direct pay-for-performance linkage transparency .
- Vesting and potential selling pressure: 36‑month monthly vesting on 23,335 total options (4,537 exercisable; 18,798 unexercisable) may create a continuous cadence of potential supply as tranches vest; strike is $2.11, expiration 10/17/2034 .
- Alignment and risk controls: Beneficial ownership of 8,427 shares (0.3%) is modest; however, hedging and pledging are prohibited and none have been undertaken, limiting adverse alignment risks from derivatives or collateralization .
- Retention and severance economics: Short severance duration (2–5 months of base) and annual auto-renewal may limit retention costs while offering moderate protection; change‑of‑control specifics are not disclosed beyond potential acceleration language, reducing clarity on parachute risk .
- Performance backdrop: Net loss widened in 2024 vs 2023 and TSR declined further in 2024, highlighting ongoing execution risk; compensation structure features discretion rather than explicit revenue/EBITDA targets, offering flexibility but less investor visibility into incentive calibration .