Jeffrey LeBlanc
About Jeffrey LeBlanc
Jeffrey LeBlanc, 48, is Chief Financial Officer and Principal Accounting Officer of Klotho Neurosciences (KLTO). He joined on August 15, 2024, bringing 20+ years in finance, investing, and company-building; he co-founded Winvest Acquisition Corp (WINV), launched “Out of Print” (acquired by Penguin Random House in 2017), held investment roles at Greenlight Capital and GE Capital, and began his career at McKinsey. He holds an MBA from Harvard Business School and a BS in Chemical Engineering from MIT . During his tenure, KLTO announced capital raises and balance sheet actions (e.g., $11M raised and all debt retired) and progressed key program and regulatory milestones, which shape the operating context for finance leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Winvest Acquisition Corp (WINV) | Co-founder | Not disclosed in 10-K | SPAC formation/transaction experience |
| Out of Print | Founder/Operator | Not disclosed in 10-K | Built DTC merchandise platform; acquired by Penguin Random House in 2017 |
| Greenlight Capital | Investment role | Not disclosed in 10-K | Institutional public markets investing experience |
| GE Capital | Investment role | Not disclosed in 10-K | Corporate finance/investing experience |
| McKinsey & Co. | Consultant (career start) | Not disclosed in 10-K | Strategy/operations grounding |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Cactus Acquisition Corp (CCTSF) | Director (current) | Not disclosed in 10-K | Public company board experience |
| Riot New Media Group | Director (prior) | Not disclosed in 10-K | Prior board service |
| Books For Africa | Director (prior) | Not disclosed in 10-K | Prior nonprofit board service |
Fixed Compensation
| Item | 2024 Amount | Source/Notes |
|---|---|---|
| Annual Base Salary per Employment Agreement | $325,000 | Contract effective Aug 15, 2024; 3-year term |
| Salary Paid (2024 actual) | $121,875 | Partial-year cash salary reported in SCT |
| Bonus Paid (2024 actual) | $80,000 | SCT disclosure |
| Target Bonus % | Not disclosed | Agreement says eligible for annual bonus program; no % provided |
Performance Compensation
| Metric/Instrument | Grant Date | Quantity/Terms | Grant-Date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| Time-based stock award | 08/15/2024 | 100,000 shares (immediate vest) | Included in $555,000 total awards for 2024 (not broken out) | Vested upon grant | Part of two 2024 grants |
| Time-based stock award | 08/15/2024 | 400,000 shares (service-based) | Included in $555,000 total awards for 2024 (not broken out) | 50% vests on first anniversary; 50% on second anniversary of agreement (i.e., Aug 15, 2025 and Aug 15, 2026) | 400,000 unvested as of 12/31/2024; market value $194,000 at $0.49 close |
| Options | — | None disclosed for LeBlanc in outstanding awards table | — | — | No options listed for LeBlanc as of 12/31/2024 |
Additional 2024 compensation detail (Summary Compensation Table):
- Awards (equity) total: $555,000
- Total compensation: $756,875
No performance metrics (e.g., revenue, EBITDA, TSR) were disclosed as determinants of 2024 payout for LeBlanc; awards are service-based per vesting schedule .
Equity Ownership & Alignment
| Item | Detail | As-of Date | Source |
|---|---|---|---|
| Beneficial ownership (shares) | 155,452 shares | March 26, 2025 | |
| Ownership (% of outstanding) | 0.5% | March 26, 2025 | |
| Unvested time-based shares | 400,000 units; market value $194,000 (based on ~$0.49 close) | December 31, 2024 | |
| Options (exercisable/unexercisable) | None disclosed for LeBlanc | December 31, 2024 | |
| Shares pledged as collateral | None disclosed; proxy states no arrangement, including any pledge, the operation of which may result in a change in control | March 26, 2025 | |
| Stock ownership guidelines (executive) | Not disclosed in 10-K/proxy materials cited | — |
Vesting overhang and potential selling pressure:
- 200,000 shares eligible to vest on first anniversary (Aug 15, 2025) and 200,000 on second anniversary (Aug 15, 2026), creating identifiable windows of incremental tradable float for the executive subject to trading policies and blackout rules .
Employment Terms
| Term | Summary | Source |
|---|---|---|
| Effective date | August 15, 2024 (CFO appointment and agreement) | |
| Term length | 3 years from effective date | |
| Base salary | $325,000 annually | |
| Bonus | Eligible to participate in annual executive bonus program (target % not disclosed) | |
| Equity | 100,000 share grant (vested on grant); 400,000 share grant with 50% vest on 1st anniversary and 50% on 2nd anniversary | |
| Severance | Not disclosed in 10-K summary; Employment Agreement (Exhibit 10.20) referenced for full terms | |
| Change-in-control | Not disclosed in 10-K summary; see Exhibit 10.20 for full terms | |
| Non-compete / Non-solicit | Not disclosed in 10-K summary; see Exhibit 10.20 for full terms | |
| Clawback | Not disclosed in filings cited here | |
| Auto-renewal | Not disclosed in 10-K summary |
Performance & Track Record (context during tenure)
- Financing and balance sheet: Company announced raising over $11 million and retiring all debt (press release/8-K, June 16, 2025), a material liquidity event that supports program funding .
- Regulatory and program progress: FDA Orphan Drug Designation for KLTO-202 (July 10, 2025) and manufacturing/process development steps toward clinical trials (June 30, 2025) .
- Listing compliance: Company disclosed regaining full compliance with Nasdaq minimum bid price rule (July 18, 2025) .
Note: These are corporate milestones during his tenure; filings do not attribute specific achievements to the CFO individually.
Compensation Structure Analysis
- 2024 pay mix skewed to equity: Awards ($555,000) materially exceed cash salary ($121,875) and bonus ($80,000), indicating strong equity weighting with service-based vesting rather than explicit performance metrics .
- Shift to time-based equity: The 400,000-share grant vests purely on time (1-year/2-year tranches), implying lower “pay-for-performance” sensitivity and higher retention orientation versus metric-linked PSUs .
- Near-term vesting catalysts: Two equal blocks (200,000 each) vest on the first and second anniversaries, which can create episodic liquidity and potential selling pressure windows subject to trading policies .
- Peer benchmarking and say-on-pay: No compensation peer group, target percentile, or say‑on‑pay results were disclosed in the cited materials for LeBlanc .
Risk Indicators & Red Flags
- Dilution/financing overhang: Senior convertible notes (initial conversion price $0.25) and warrants ($0.50) established in January 2025 create potential dilution; exchange cap and stockholder approval mechanics are disclosed in the securities purchase agreement .
- Pledging/hedging: Proxy notes no arrangement, including any pledge, that may result in change of control; no pledging disclosed for LeBlanc specifically in the cited materials .
- Related party transactions: None specific to LeBlanc were disclosed; agreement and compensation were described in executive compensation and related party notes without flagged transactions for him .
Investment Implications
- Alignment and retention: LeBlanc’s meaningful unvested equity (400,000 shares as of 12/31/2024) with 1‑ and 2‑year service tranches indicates retention incentives but limited explicit operating performance linkage (no revenue/EBITDA/TSR metrics tied to payout disclosed) .
- Selling pressure windows: The scheduled vesting (first and second anniversaries of Aug 15, 2024) may create identifiable windows for incremental tradable shares; monitor company blackout/policy windows and any Form 4 activity around vest dates .
- Ownership scale: Beneficial ownership of 155,452 shares (0.5%) suggests a moderate personal stake relative to total outstanding; alignment increases as time-based awards vest, though the absence of disclosed performance conditions moderates incentive intensity .
- Financing/dilution sensitivity: Active use of convertibles/warrants and the need for shareholder approvals (exchange cap) elevate equity dilution risk and stock price sensitivity—both to funding cadence and to clinical milestones that underpin valuation and equity-based compensation value realization .
Key gaps to confirm from Exhibit 10.20 (employment agreement): severance multiples, cause/good reason definitions, change-in-control triggers (single vs double), accelerated vesting, non‑compete/non‑solicit scope, and clawback. These terms directly affect alignment, retention risk, and event‑driven trading signals .
Sources: SEC filings and company documents as cited in brackets.