David Gaiero
About David Gaiero
David Gaiero, age 46, has served as IMUNON’s Chief Financial Officer since June 1, 2024 under a professional services agreement with Monomoy Advisors, LLC; his engagement began May 1, 2024 at a rate of $35,000 per month and he serves as the company’s principal financial officer and principal accounting officer . He holds a B.B.A. in Accounting from the University of Massachusetts, Amherst, and is a Certified Public Accountant in Massachusetts . Company performance context: IMUNON’s 2024 “Value of Initial Fixed $100 Investment Based on TSR” measured $10.25, and the company reported a 2024 net loss of $18,620,242 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Cyteir Therapeutics, Inc. | Chief Financial Officer | Since Jan 2023 (as disclosed May 20, 2024) | Not disclosed |
| Cyteir Therapeutics, Inc. | Vice President of Finance | Dec 2020–Dec 2022 | Not disclosed |
| Wave Life Sciences (Nasdaq: WVE) | Interim CFO; previously VP & Corporate Controller | Jul 2017–Dec 2020 | Not disclosed |
| OvaScience, Inc. | Vice President & Corporate Controller | Sep 2015–Jul 2017 | Not disclosed |
| iRobot Corporation | Finance and accounting roles | Years not disclosed | Not disclosed |
| PricewaterhouseCoopers LLP | Public accounting (career start) | Years not disclosed | Not disclosed |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Monomoy Advisors, LLC | Partner | Since May 2024 (as disclosed in FY2024 10-K) | Professional agreement supplies CFO services to IMUNON |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) | Stock Awards ($) | Option Awards ($) | Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| 2024 | 280,000 | — | 0 | 0 | 0 | 0 | 280,000 |
Structure: Salary reflects amounts paid to Monomoy Advisors, LLC under Gaiero’s CFO engagement . CFO services began May 1, 2024 at $35,000 per month ; appointment effective June 1, 2024 .
Engagement Economics (Monomoy Agreement)
| Term | Detail |
|---|---|
| Start of services | May 1, 2024 |
| Appointment effective | June 1, 2024 |
| Monthly fee | $35,000 |
| Expected work effort | ~60% of typical public company CFO workload |
| Role designation | Principal Financial Officer and Principal Accounting Officer |
| Scope highlights | SEC filings oversight and certifications; investor relations support; finance leadership; audit/tax facilitation; board support; modeling and FP&A; cash flow management |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual cash bonus (2024) | Not disclosed | Not disclosed | Not disclosed | $0 | N/A |
| Equity awards (2024) | N/A | N/A | N/A | $0 options; $0 stock awards | N/A |
Executives’ bonuses are based on specific performance measures set annually by the Compensation Committee; specific metric weightings/targets for Gaiero were not disclosed for 2024 . The committee approved 2024 bonuses in Q1 2025 overall, but Gaiero’s payout was $0 .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial ownership (as of May 13, 2025) | 0 shares; <1% of shares outstanding (17,541,732 shares outstanding) |
| 2024 option grants | None |
| 2024 restricted stock grants | None |
| Options (exercisable/unexercisable) | None disclosed for Gaiero |
| Shares pledged as collateral | Not disclosed |
| Ownership guidelines and compliance | Not disclosed |
Employment Terms
| Provision | Term |
|---|---|
| Engagement type | Professional agreement between IMUNON and Monomoy Advisors, LLC |
| Compensation | $35,000 per month for CFO services |
| Duties | PFO/PAO; SEC reporting and certification; finance leadership; IR support; board support; audit/tax facilitation; FP&A; cash management |
| Start date | Services: May 1, 2024 ; CFO appointment: June 1, 2024 |
| Severance | Not disclosed for Gaiero |
| Change-of-control economics | Not disclosed for Gaiero |
| Clawbacks/tax gross-ups | Not disclosed for Gaiero |
| Non-compete/non-solicit | Not disclosed for Gaiero |
| Term/auto-renewal | Not disclosed for Gaiero |
Performance & Track Record
- Executed and signed securities purchase agreement documentation as CFO, indicating direct involvement in financing transactions .
- Company context during his tenure: 2024 TSR “$100 investment” value of $10.25 and net loss of $18,620,242 provide high-level performance backdrop .
Investment Implications
- Alignment: 0 share ownership, no 2024 equity grants, and contractor compensation paid to Monomoy signal limited “skin-in-the-game” and weaker direct equity alignment relative to typical CFO arrangements .
- Retention and selling pressure: With no disclosed unvested equity or vesting schedules, insider selling pressure from forced vest-to-sell dynamics appears minimal; retention hinges on the Monomoy agreement rather than company equity incentives .
- Governance and capacity: CFO services scoped at ~60% of a typical public company CFO workload could constrain bandwidth in peak periods; however, scope explicitly covers SEC certifications, finance leadership, IR, and board support .
- Pay-for-performance: 2024 payout of $0 under the annual incentive and absence of equity awards reduce incentive linkage to operating or TSR metrics for Gaiero specifically, even though the company’s program references performance measures set by the Compensation Committee .
- Financing execution: Documented transaction leadership (securities purchase agreement) demonstrates involvement in capital markets activities, relevant for cash runway and financing strategy in a development-stage biotech .
