Nir Sassi
About Nir Sassi
Nir Sassi is Chief Financial Officer of Indaptus Therapeutics (INDP) and has served in this role since July 2021; he was previously CFO of Intec Israel from March 2010 (VP Finance Jan 2015–Aug 2016) and President from March 2021 until the merger with Indaptus. He is 49, a certified public accountant in Israel, and holds a bachelor’s degree in economics and accounting from Ben-Gurion University; he also served as a Senior Manager at PricewaterhouseCoopers Israel from 2002–2010, including a two-year relocation to PwC New York . Company-level performance context during his tenure: Indaptus’ cumulative TSR (value of a fixed $100 investment) and net loss were $48 and $(15,022,027) in 2024, $121 and $(15,423,471) in 2023, and $25 and $(14,322,798) in 2022, respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Intec Israel | Chief Financial Officer | 2010–2021 | Led finance through merger into Indaptus; continuity across VP Finance period |
| Intec Israel | VP Finance | 2015–2016 | Finance leadership and controls |
| Intec Israel | President | 2021 (to merger) | Oversight during transition to Indaptus |
| PricewaterhouseCoopers Israel (incl. NYC) | Senior Manager | 2002–2010 | Audit/finance leadership; international experience |
External Roles
- No public company board roles or committee positions for Sassi disclosed in the proxies or 10-K reviewed .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $345,000 | Annual base; subject to annual upward review |
| Transition Payment (Consulting termination) | $195,728 | Paid upon terminating prior consulting agreement as he entered employment agreement (Feb 1, 2022) |
| Benefits | Executive benefits per company policy | Standard executive benefits; specifics not itemized |
Performance Compensation
| Incentive Type | Target/Eligibility | Metric Framework | Payout/Vesting Details |
|---|---|---|---|
| Annual Bonus | Up to 40% of base salary | Based on individual and company-wide objectives set annually by the Board | Prorated in certain termination/death/disability scenarios; actual payouts not disclosed for Sassi |
| Equity Awards (Options/Other) | Eligible for Board-approved grants | Under 2021 Stock Incentive Plan; no repricing permitted without shareholder approval | Accelerated vesting upon certain change-in-control termination (see Employment Terms) |
Equity Ownership & Alignment
| Item | Status | Notes |
|---|---|---|
| Beneficial Ownership | Not listed in 2024/2025 beneficial ownership tables | Tables include directors and NEOs; Sassi (CFO) is not among listed NEOs for those years |
| Section 16 Filings | Form 4 filed (2024) | Existence of Form 4 filing identified; review details for award/transaction specifics |
| Hedging/Pledging | Anti-hedging policy prohibits short sales, options, collars, forwards (pre-approval required) | Insider trading policy bans hedging/monetization transactions unless pre-approved; no explicit pledging policy disclosure |
| Stock Ownership Guidelines | Not disclosed | No executive ownership guidelines disclosed in proxies reviewed |
Employment Terms
| Scenario | Cash Economics | Bonus Treatment | Equity Treatment | Other Terms |
|---|---|---|---|---|
| Termination without Cause or Resignation for Good Reason | 12 months base salary | If entitled to bonus for year of termination, prorated based on days employed | No acceleration specified outside change-of-control | One-month notice by Company for without-cause; immediate for cause/good reason subject to cure windows |
| Death or Disability | — | If entitled to bonus for year, prorated based on days employed; paid on same basis as other participants | — | — |
| Change in Control + Termination (within 1 year after or 6 months before CoC) | 12 months base salary plus annual target bonus | Current-year bonus at target, prorated; paid within 30 days of termination | Full accelerated vesting of all outstanding equity awards upon the later of CoC or termination (effectively double-trigger within the window) | — |
| Confidentiality/IP | — | — | — | Agreement includes confidentiality and IP assignment provisions |
Investment Implications
- Pay-for-performance alignment: CFO bonus targets (40% of base) hinge on annual Board-set objectives, while equity acceleration is reserved for change-of-control termination events—moderate alignment, with double-trigger acceleration reducing immediate sale incentives but still creating transaction-related value protection .
- Retention and selling pressure signals: Absence of disclosed personal holdings in 2024/2025 ownership tables limits visibility into skin-in-the-game; presence of a 2024 Form 4 indicates active Section 16 reporting—monitor future Form 4s for potential selling pressure and vesting-related sales .
- Governance and risk controls: A formal clawback policy compliant with Nasdaq Rule 10D-1 and a robust anti-hedging policy mitigate misalignment and reputational risk; the 2021 equity plan’s prohibition on repricing without shareholder approval reduces red-flag risk around underwater options .
- Execution track record context: Company TSR and net losses in 2022–2024 illustrate the early-stage biotech profile and capital intensity during Sassi’s tenure, framing bonus and equity outcomes against persistent losses and volatile TSR .