Fenel Eloi
About Fenel M. Eloi
Independent director at Standard BioTools Inc. (LAB), age 67, serving since March 2023. He is Audit Committee Chair and designated as an “audit committee financial expert”; the Board affirmatively determined his independence under Nasdaq rules in April 2025. Education: B.A. in Business (Lee University) and M.B.A. (Anna Maria College). 2024 attendance met the Board’s minimum (≥75%); only Eli Casdin fell below that threshold .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cell Signaling Technology | Chief Operating Officer; previously Chief Financial Officer | COO: Sep 2006–Mar 2018; CFO prior | Operational and financial leadership |
| Interleukin Genetics | Chief Operating Officer & Chief Financial Officer | Not disclosed | Operations and finance |
| Genome Therapeutics Corporation | Chief Financial Officer | Not disclosed | Finance leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| 908 Devices, Inc. (public) | Director; Audit Committee Chair | Since Feb 2021 | Chairs audit committee |
| MitoTherapeutix, Inc. (private) | Director; Audit Committee Chair | Not disclosed | Chairs audit committee |
| Vaxess Technologies, Inc. (private) | Director | Not disclosed | Board service |
| VIC Technology Venture Development (private) | Director | Not disclosed | Board service |
Board Governance
- Committee assignments: Audit Committee Chair; Audit Committee member; not listed on Human Capital or Nominating committees. The Audit Committee met 6 times in 2024; all members are independent and financially literate; Eloi qualifies as an “audit committee financial expert” .
- Board independence: the Board determined Eloi is independent; the Board had a majority of independent directors throughout 2024 .
- Attendance: Board held 12 meetings and committees held 20 in 2024; all directors attended at least 75% of aggregate meetings except Eli Casdin (19 of 27), indicating Eloi met engagement expectations .
- Executive sessions: independent directors hold executive sessions at each regularly scheduled board meeting; chaired by the independent Chairperson .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (policy) | $50,000 | Non-employee director |
| Audit Committee member retainer (policy) | $10,000 | Per member |
| Audit Committee chair retainer (policy) | $10,000 | Additional to membership |
| 2024 fees earned or paid in cash (actual) | $68,750 | Eloi’s total cash fees for 2024 |
Performance Compensation (Director Equity; vesting detail)
| Grant Type | Annual Grant Value (policy) | Vesting | Chair add-on | Notes |
|---|---|---|---|---|
| RSUs (annual) | $100,000 | Vest in full at earlier of 1 year from grant or 1 day before next annual meeting | N/A | Eligible to elect RSUs in lieu of cash; can defer settlement to separation/change in control |
| Stock options (annual) | $100,000 | Vest in 12 equal monthly installments | +$50,000 for Board Chair (not applicable to Eloi) | 10-year term; strike at fair market value on grant date |
| Initial options (on appointment) | $350,000 | Vest in 4 equal annual installments | N/A | For new directors |
Director equity awards outstanding (as of 12/31/2024):
| Metric | Quantity |
|---|---|
| Options outstanding | 107,593 |
| RSUs outstanding | 97,194 |
2024 reported director equity compensation (grant-date fair value):
| Component | Amount |
|---|---|
| Stock awards (RSUs) | $76,337 |
| Option awards | $100,000 |
Other Directorships & Interlocks
- Public company board: 908 Devices, Inc.; Audit Committee Chair .
- Interlocks/overboarding: LAB policy limits non-employee directors to ≤4 public-company boards; Eloi’s disclosed public board count appears compliant (LAB + 908 Devices) .
- Related-party transactions: No transactions disclosed involving Eloi. A license agreement exists with Revvity Health Sciences, Inc. (Revvity) with $125,000 incurred since Jan 1, 2024; the interlock disclosed is that Frank Witney serves on Revvity’s board. All related person transactions require Audit Committee review/approval per policy .
Expertise & Qualifications
- Financial expertise: Audit Committee Chair; “audit committee financial expert” designation under SEC rules .
- Life sciences operating and finance experience across Cell Signaling Technology, Interleukin Genetics, Genome Therapeutics .
- Academic credentials: B.A. Business (Lee University); M.B.A. (Anna Maria College) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Breakdown/Notes |
|---|---|---|---|
| Fenel M. Eloi | 163,994 | <1% | 62,419 shares held directly; 101,575 options exercisable within 60 days |
Additional alignment policies:
- Non-employee director stock ownership guideline: hold shares equal to four times Board cash retainer; includes shares owned and vested in-the-money options; excludes unvested RSUs/options. Compliance timeline: by fiscal year following fifth anniversary of guideline or appointment; open-market purchases not required .
- Insider Trading Policy prohibits hedging (including short sales, puts/calls, derivatives) and pledging; includes blackout schedules and pre-clearance for covered persons .
Governance Assessment
- Board effectiveness: Eloi’s Audit Chair role and SEC “financial expert” status support strong oversight of financial reporting and cybersecurity risk, consistent with committee remit .
- Independence/engagement: Affirmed independent; attendance threshold met in 2024, indicating active participation .
- Compensation mix: Balanced cash retainer plus equity (RSUs/options) with standard vesting; no director-specific performance metrics or tax gross-ups disclosed; change-in-control equity acceleration applies to non-employee directors per plan terms (standard practice) .
- Alignment and risk controls: Ownership guidelines and anti-hedging/pledging policy bolster alignment; no related-party transactions involving Eloi disclosed; Audit Committee policy governs any such transactions .
- Shareholder sentiment: 2024 say-on-pay approval was ~87.15%, signaling acceptable compensation governance broadly; not director-specific but relevant to overall governance environment .
RED FLAGS: None disclosed specific to Eloi (no related-party transactions, no pledging/hedging, attendance met minimum). Monitoring items: company-level related-party transaction with Revvity (interlock with another director), and equity plan amendments expanding share pool; neither implicates Eloi directly .
Appendix: Board Context (for investor confidence)
- 2024 meetings: Board 12; committees 20; executive sessions at each regular meeting .
- Director compensation policy updated April 2024; provides clear cash/equity structure and optional RSUs in lieu of cash with deferral .