Dina Masi
About Dina Masi
Dina L. Masi is Senior Vice President, Chief Financial Officer, and Secretary of Integrated BioPharma, Inc. (INBP). She joined INBP on November 17, 2005 and continues to serve as the company’s Principal Financial Officer, signing SEC reports and acting as Corporate Secretary . Ms. Masi is 63 years old and has held the CFO role since 2005 . Company performance during the last three fiscal years shows revenues of $50.672M (FY23), $50.317M (FY24), and $54.353M (FY25) with EBITDA improving to $2.338M in FY25*; pay-versus-performance disclosures show TSR value of a fixed $100 investment of 66 (FY23), 42 (FY24), and 72 (FY25), and net income of $(34)K (FY23), $112K (FY24), and $808K (FY25) .
*EBITDA values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Prescott Funding, LLC | Chief Financial Officer & Senior Vice President | Jun 2002–Dec 2004 | Finance leader at licensed residential mortgage lender specializing in non-conforming consumer lending . |
| Fintek, Inc. | Chief Financial Officer & Senior Vice President; Management Information Officer | Jul 2001–Sep 2005; Feb 1998–Jul 2001 | Senior finance and information leadership at a private financial consulting services company . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Maternal Science, Inc.; Healthy Mama Holdings, LLC | Chief Financial Officer (via INBP back-office services) | Sep 2014–Dec 2021 | CFO for privately held clients supported by INBP’s bookkeeping/back-office operations . |
| DLM Accounting and Financial Services, LLC | Principal/Owner | May 2005–present | Provided accounting and financial services to small business owners . |
Fixed Compensation
Multi-year compensation for Dina L. Masi (as disclosed):
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Salary ($) | 263,854 | 280,000 | 280,000 |
| Bonus ($) | 7,100 | 6,300 | 7,500 |
| Stock Awards ($) | – | – | – |
| Option Awards ($) | 48,225 | 60,060 | 36,297 |
| Non-Equity Incentive ($) | – | – | – |
| Non-Qualified Deferred Comp ($) | – | – | – |
| All Other Compensation ($) | 10,358 | 10,721 | 10,780 |
| Total ($) | 329,537 | 357,081 | 334,577 |
Notes: Option Awards reflect ASC 718 expense recognition and may include amounts from prior grants .
Performance Compensation
Annual Bonus
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Bonus Paid ($) | 7,100 | 6,300 | 7,500 |
Program design indicates bonuses were based on achieving quantitative and qualitative goals; total bonuses paid to named executives in FY25 were $22,700, up ~34% YoY .
Equity Awards and Vesting (Outstanding as of June 30, 2025)
| Grant Date | Options Exercisable (#) | Options Unexercisable (#) | Strike ($) | Expiration | Vesting Terms |
|---|---|---|---|---|---|
| 05/24/2019 | 150,000 | – | 0.21 | 05/24/2029 | 50% at grant; 50% over 3 years . |
| 11/04/2020 | 100,000 | – | 0.65 | 11/04/2030 | Over 3 years . |
| 11/03/2021 | 65,000 | – | 0.95 | 11/03/2031 | Over 3 years . |
| 11/09/2022 | 66,667 | 33,333 | 0.41 | 11/09/2032 | Over 3 years . |
| 11/28/2023 | 50,000 | 100,000 | 0.24 | 11/28/2033 | Over 3 years . |
| 12/04/2024 | – | 125,000 | 0.18 | 12/04/2034 | Over 3 years . |
Grant-pricing practice: exercise price set at the 10-trading-day volume-weighted average price (VWAP); timing considers the September 10-Q filing cadence .
Exercises and Realized Value
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Shares Acquired on Exercise (#) | 50,000 | 200,000 |
| Value Realized on Exercise ($) | 9,500 | 47,350 |
Equity Ownership & Alignment
| Metric | Oct 15, 2024 | Oct 17, 2025 |
|---|---|---|
| Shares Beneficially Owned (#) | 812,200 | 903,837 |
| Percent of Shares Outstanding (%) | 2.6% | 2.9% |
| Options Exercisable within 60 Days (#) | 587,500 | 556,667 |
- Ownership footnotes confirm inclusion of options exercisable within 60 days in beneficial ownership .
- Insider trading policy does not address hedging; no pledging policy disclosure is provided .
Employment Terms
| Provision | Terms |
|---|---|
| Employment Agreement | None; named executives serve at the will of the Board . |
| Severance | No severance agreements; no arrangements for termination payments . |
| Change-in-Control | No change-in-control agreements or benefits . |
| Clawback | No formal clawback policy (OTCQX listing); Board may seek reimbursement in cases of fraud/intentional misconduct, including restatements . |
| Non-Compete / Non-Solicit | Not disclosed. |
Company Performance (Context)
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenues ($) | 50,672,000 | 50,317,000 | 54,353,000 |
| EBITDA ($) | 471,000* | 558,000* | 2,338,000* |
| Pay vs Performance | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| TSR – Value of Initial Fixed $100 Investment ($) | 66 | 42 | 72 |
| Net Income (Loss) ($000s) | (34) | 112 | 808 |
*Values retrieved from S&P Global.
Additional Governance and Compensation Context
- Equity compensation plan outstanding options: 4,481,350 shares; weighted-average exercise price $0.39; 5,659,652 shares remain available for future issuance (as of June 30, 2025) .
- Compensation Committee composition and authority; no compensation consultants used in FY25; committee met twice .
- No formal stock ownership guidelines disclosed; insider trading policy indicates officers/directors “do not actively trade” and have held shares since acquisition .
Investment Implications
- Pay-for-performance alignment: Cash compensation is modest; equity is delivered via options with 3-year vesting and 10-year terms, directly linking upside to share price appreciation; RSUs were not granted in FY24–FY25, suggesting higher at-risk equity exposure via options .
- Retention risk appears contained: Multi-year, annually vesting option ladders and absence of guaranteed severance/CoC provisions reduce entitlements but increase stickiness through unvested equity forfeiture on voluntary departure .
- Insider activity/trading signals: Regular option exercises (50K in FY24; 200K in FY25) reflect monetization of awards; monitor for follow-on sales and the substantial remaining unexercisable tranches that can create periodic supply/dilution as they vest .
- Alignment and governance: CFO beneficial ownership of 2.9% (FY25) indicates meaningful skin-in-the-game; however, lack of formal clawback and hedging/pledging policies (and no ownership guidelines) are governance gaps to watch, especially amid improving EBITDA and net income trends .