Christobel Selecky
ImmunityBioAbout Christobel Selecky
Christobel Selecky, age 70, is an independent director of ImmunityBio (IBRX) with ~4 years of board tenure (director since March 2021) and deep operating experience in population health and managed care, including founding and leading LifeMasters Supported SelfCare . She is designated an “independent” director under Nasdaq rules and serves as an Audit Committee Financial Expert, reflecting strong financial literacy and governance credentials; her education includes a B.A. (University of Delaware) and an M.A. (Syracuse University) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FHP International Corporation | President, FHP California Health Plan; other leadership roles | Ended 1995 | Led health plan operations within large managed care organization |
| LifeMasters Supported SelfCare | Co‑Founder; President, CEO, Executive Chairman | Not disclosed | National disease/population health management leader |
External Roles
| Organization | Role | Public/Private | Tenure | Notes |
|---|---|---|---|---|
| Teleperformance SE | Director | Public (Euronext Paris: TEP FP) | Current | Global business services provider |
| Satellite Healthcare | Director | Non-profit | Current | Kidney dialysis provider |
| Griswold Home Care | Director | Private | Current | Non-medical home care |
| NACD (Pacific Southwest Chapter) | Board member | Non-profit | Current | Board governance organization |
| Ceresti Health | Strategic Advisor | Private | Since 2014 | Healthcare technology company |
| UC Irvine MBA Program | Lecturer, Healthcare Entrepreneurship | Academic | Since 2017 | Governance/healthcare expertise |
Board Governance
- Committee assignments (2025): Audit (Member), Compensation (Member), Related Party Transaction (Member as of April 2025) .
- Committee leadership: None (not a chair) .
- Independence: Board determined Selecky is independent; 5 of 8 directors are independent despite “controlled company” status .
- Attendance/engagement: In 2024 the Board met 7 times; each director attended at least 75% of Board and applicable committee meetings, and all directors attended the 2024 annual meeting .
- Executive sessions: Independent directors meet in executive session at each regularly scheduled meeting, at least four times per year .
- Context: Dr. Soon‑Shiong and affiliates controlled ~73.6% of outstanding shares as of the record date, underscoring controlled-company dynamics .
Fixed Compensation (Non‑Employee Director; 2024)
| Component | 2024 Amount | Notes |
|---|---|---|
| Cash fees (total) | $70,000 | $50,000 base retainer + $10,000 Audit member + $10,000 Compensation member |
| Equity grant (options) – grant date fair value | $400,000 | Annual option award upon re‑election (June 11, 2024) |
| Total | $470,000 | Sum of cash and option grant value |
Director fee schedule (policy reference): Base $50,000; Audit member $10,000; Compensation member $10,000; Nominating & Corporate Governance member $7,500; Related Party Transaction member $7,500; Special Committee member $15,000; chair fees separate; annual non‑employee option grant targets $400,000 grant‑date value .
Performance Compensation (Structure and Metrics)
- Structure: Non‑employee director equity is time‑based stock options; no performance-based metrics are applied to director equity .
- 2024 grant detail: 77,633 stock options granted on June 11, 2024 at $5.96 exercise price; annual award vests on the earlier of one year from grant or the day prior to the next annual meeting (service‑based vesting) .
| Performance Metric | Weight/Target | Result/Payout Basis |
|---|---|---|
| N/A (director equity is time‑based; no performance hurdles) | — | — |
Other Directorships & Interlocks
| Company | Industry/Listing | Role | Committee Roles (if disclosed) |
|---|---|---|---|
| Teleperformance SE (TEP FP) | Business services; Euronext Paris | Director | Not disclosed |
No disclosed interlocks with ImmunityBio’s major related parties, suppliers, or customers beyond her IBRX service.
Expertise & Qualifications
- Audit Committee Financial Expert; financially literate per SEC/Nasdaq standards .
- 35+ years healthcare industry experience with leadership in managed care and population health; founder/CEO experience at LifeMasters .
- Active in governance communities (NACD, PDA, WCD), signaling board-process fluency .
- Academic and advisory roles (UC Irvine lecturer; advisor at Ceresti Health) augment domain expertise .
- Education: B.A. (University of Delaware); M.A. (Syracuse University) .
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (as of April 21, 2025) | 451,770 shares (via stock options exercisable within 60 days); less than 1% of outstanding shares |
| Option position detail (as of Dec 31, 2024) | Vested options: 21,873 @ $17.24; 26,064 @ $14.91; 167,937 @ $2.98; 158,263 @ $2.99; Unvested: 77,633 @ $5.96 (granted June 11, 2024) |
| Stock ownership guidelines | Non‑employee directors expected to hold ≥3× base retainer; 5‑year compliance window from board entry (or Dec 1, 2020 for earlier directors) |
| Hedging/pledging policy | Prohibits short sales, hedging, and margin/pledging (except with prior Board approval) |
| Reference stock price | $2.56 (Dec 31, 2024 close), for context versus option strikes |
Note: The proxy discloses holdings primarily in options for Ms. Selecky; it does not disclose RSUs or direct share ownership for her as of the record date .
Governance Assessment
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Strengths
- Independent director serving on three key committees (Audit, Compensation, Related Party Transaction), designated Audit Committee Financial Expert—enhances financial oversight and pay governance .
- Documented engagement: each director met ≥75% attendance thresholds in 2024; all directors present at 2024 annual meeting; independent director executive sessions at least quarterly .
- Robust director ownership policy (≥3× base retainer) and prohibitions on hedging/shorting/pledging promote alignment and risk control .
-
Watch items / RED FLAGS (contextual to IBRX environment)
- Controlled-company status with ~73.6% ownership by founder/affiliates heightens minority‑holder risk; however, board maintains a majority of independent directors .
- Extensive related-party transactions and financing with founder‑affiliated entities (e.g., $505 million convertible note with Nant Capital and other affiliate arrangements) require vigilant oversight; the Related Party Transaction Committee (of which Selecky became a member in Apr 2025) met eight times in 2024 .
- Auditor transition (EY dismissed Mar 13, 2025; Deloitte appointed) warrants continued Audit Committee scrutiny, though no disagreements were reported; Selecky serves on the Audit Committee .
Overall, Selecky brings relevant healthcare and governance expertise with strong audit credentials and multi‑committee service. Given IBRX’s controlled ownership and pervasive related‑party activity, her role on Audit and the Related Party Transaction Committee is pivotal for investor confidence, with committee activity (e.g., eight RPT meetings in 2024) indicating active oversight in these areas .