David Arkowitz
iBioAbout David Arkowitz
David Arkowitz (age 64) is an independent Class I director at iBio, appointed in November 2024; he serves on the Audit Committee and the Nominating & Corporate Governance Committee and is designated an SEC “audit committee financial expert.” He is currently CFO of Alkeus Pharmaceuticals (private) and previously held senior finance and operating roles at Seres Therapeutics, Flexion Therapeutics, Visterra, Mascoma, AMAG, and Idenix after 13 years at Merck; he holds a BA in Mathematics (Brandeis) and an MBA in Finance (Columbia) . The Board determined Arkowitz is independent under Nasdaq listing standards; independent directors meet in executive session at least quarterly . During FY2025, each current director attended at least 75% of Board and committee meetings .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Seres Therapeutics, Inc. | CFO & Head of Business Development | Jun 2021 – Mar 2024 | Senior finance/operator; public company experience |
| Flexion Therapeutics, Inc. | CFO | May 2018 – May 2021 | Led finance; company acquired by Pacira |
| Visterra, Inc. | COO & CFO | Sep 2013 – May 2018 | Led finance, BD, corporate planning |
| Mascoma LLC | CFO & General Manager | Jun 2011 – Sep 2013 | Finance and general management; acquisition by Lallemand |
| AMAG Pharmaceuticals, Inc. | CFO & Chief Business Officer | Not disclosed | Senior finance leadership |
| Idenix Pharmaceuticals, Inc. | CFO | Not disclosed | Senior finance leadership; company acquired by Merck |
| Merck & Co., Inc. | Various finance roles incl. VP & Controller (U.S. Human Health), Controller (Global R&D), CFO (Canada) | 13 years (dates not disclosed) | Increasing responsibility in finance |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kineta, Inc. (acquired by TuHURA Biosciences) | Director | Dec 2022 – Jun 2025 | Audit; Nominating & Corporate Governance |
| F-Star Therapeutics, Inc. | Director | Nov 2020 – Mar 2023 | Chair, Audit; Member, Compensation |
| Yumanity Therapeutics | Director | Dec 2020 – Dec 2022 | Audit; Nominating & Corporate Governance |
Board Governance
- Committees: Member, Audit Committee; Member, Nominating & Corporate Governance Committee; Audit Committee chaired by Gary Sender; Nominating chaired by Dr. Alexandra Kropotova .
- Independence: Board determined Arkowitz is independent under Nasdaq standards; all current Audit, Compensation, and Nominating members are independent .
- Expertise: Designated “audit committee financial expert” (Reg S-K 407(d)(5)(ii)) .
- Attendance: Board met 6 times; Audit 6; Compensation 4; Nominating 5; each current director attended at least 75% of aggregate meetings in FY2025 .
- Engagement: Independent directors meet in executive session at least quarterly .
Fixed Compensation
| Metric (FY2025) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $33,428 |
| Stock Awards | $0 |
| Option Awards (grant-date fair value) | $30,803 |
| Total | $64,231 |
- Non-employee director policy FY2025: Annual retainers—Board member $40,000; Audit member $10,000 ($20,000 chair); Compensation member $7,500 ($15,000 chair); Nominating member $5,000 ($10,000 chair) .
Performance Compensation
| Equity Award Detail | FY2025 Data |
|---|---|
| Options awarded during FY2025 (count) | 12,600 options |
| Fair value of option award (grant-date) | $30,803 |
| Vesting schedule | One-time initial director grant vests over 36 months |
| Options outstanding (Jun 30, 2025) | 12,600 total; 2,450 vested |
| Stock awards/PSUs/RSUs | None disclosed for directors |
No director performance metrics (e.g., revenue, EBITDA, TSR) are tied to director compensation; equity is time-based per policy .
Other Directorships & Interlocks
- External public boards as above; no disclosed interlocks with iBio competitors/suppliers/customers creating conflicts. Item 404 related-party disclosures in 2025 proxy reference a Lynx1 nomination arrangement for António Parada and a private placement purchase by MagicRoad (Parada-affiliated), not involving Arkowitz .
Expertise & Qualifications
- Finance and operations leader across public and private biopharma; audit/controls experience suitable for Audit Committee .
- Education: BA Mathematics (Brandeis); MBA Finance (Columbia) .
- Audit committee financial expert designation (SEC) .
Equity Ownership
| As of Record Date | Shares/Options | Notes |
|---|---|---|
| Total beneficial ownership | 22,582 shares; less than 1% of outstanding | As of Oct 3, 2025; 20,254,599 shares outstanding |
| Direct/common shares | 18,382 shares | |
| Options (vested or vesting within 60 days) | 4,200 shares underlying options | |
| Pledging/Hedging | Company policy prohibits pledging and hedging by directors |
Governance Assessment
- Positives: Independent director with deep CFO/COO experience; serves on Audit and Nominating; designated audit financial expert; attendance threshold met; insider trading policy prohibits hedging/pledging; independent compensation consultant retained; executive say‑on‑pay support strong in 2024 (~91%) indicating general governance alignment .
- Neutral/Observations: Director compensation mix includes cash and time‑based options; policy moved from no director option awards in FY2024 to initial grants in FY2025 (policy update and new director onboarding), increasing equity alignment but without performance conditions .
- RED FLAGS: None disclosed specific to Arkowitz (no related‑party transactions, no hedging/pledging, no attendance issues) .