Peter Stazzone
LIXTE BIOTECHNOLOGY HOLDINGSAbout Peter Stazzone
Peter Stazzone (age 74) was appointed Chief Financial Officer (Principal Financial and Accounting Officer) of Lixte Biotechnology Holdings, Inc. effective September 1, 2025. He holds an MBA in Finance from DePaul University and a BS in Accounting from the University of Illinois, and is a member of the American Institute of Certified Public Accountants . Lixte’s compensation framework emphasizes operational and R&D execution rather than TSR or net income; the Compensation Committee cites metrics such as clinical program management, IP development, budget discipline, and capital raising to align pay with objectives . Company-level pay-versus-performance disclosure shows cumulative two-year TSR of -60.2% through December 31, 2024, reflecting the early-stage R&D profile; TSR is not used in compensation decisions .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Beyond Commerce, Inc. | Chief Financial Officer | 2021–2025 | Public-company CFO across B2B internet marketing, EV, and logistics; capital raising and reporting |
| Strainz, Inc. | Chief Financial Officer | 2016–2021 | Led finance for a multi-state cannabis manufacturer; operations and controls |
| Voice Telecom | Chief Financial Officer | Not disclosed | Guided corporate transformation and public reporting per company release |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| American Institute of Certified Public Accountants | Member | Not disclosed | Professional accreditation |
Fixed Compensation
| Component | Terms | Source |
|---|---|---|
| Base Salary | $150,000 per year, paid monthly; one-year term auto-renewable unless non-renewed with 60 days’ notice prior to period end | |
| Annual Bonus | Eligible at Board’s discretion; cash or equity; no target % disclosed | |
| Cash Paid (Q3 2025) | $12,500 paid under employment agreement | |
| Clawback | Company equity awards subject to clawback/recoupment policy; plan-level governance applies to awards under the plan |
Performance Compensation
| Instrument | Grant Date | Shares | Exercise Price | Term | Vesting | Fair Value | Notes |
|---|---|---|---|---|---|---|---|
| Stock Options (outside 2020 Plan) | Sep 1, 2025 | 50,000 | $4.45/share (closing price on grant date) | 5 years | 25% on grant; remainder 12.5% on each subsequent quarter-end until fully vested (subject to continued service) | $173,070 Black-Scholes | Cashless exercise; granted outside 2020 Plan; company expensed $55,732 in Q3 2025 for this grant |
| Stock Options (outside 2020 Plan) | Sep 1, 2025 | 50,000 | Not stated in 8-K | 5 years | 25% on grant; 25% on Dec 15, 2025; 25% on Mar 15, 2026; subject to acceleration | Not disclosed | Vest acceleration possible upon certain events (specifics not detailed in 8-K) |
The company’s Compensation Committee does not use TSR or net income and instead considers operational metrics (research programs, clinical trials, IP, budgeting, capital raising) to align executive pay with objectives .
Equity Ownership & Alignment
| Metric | Value | Source |
|---|---|---|
| Beneficial Ownership (counts exercisable within 60 days) | 12,500 options | |
| Ownership % of Common Shares Outstanding | ~0.2% | |
| Vested vs Unvested (as of Sep 30, 2025) | 12,500 exercisable; 37,500 unvested (schedule per 10-Q) | |
| In-the-money value of exercisable portion (Sep 30, 2025) | ≈ $7,250 calculated from $5.030 close and $4.45 strike on 12,500 shares | |
| Hedging/Shorting Policy | Hedging and short sales prohibited; trading pre-clearance required | |
| Pledging | Awards non-transferable/pledging restricted under plan; personal share pledging not disclosed |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Agreement Term | One year from Sep 1, 2025; auto-renewal for successive one-year periods unless terminated by either party with 60 days’ notice prior to period end | |
| Compensation | $150,000 annual salary; discretionary annual bonus payable in cash/equity; eligible to participate in equity program | |
| Initial Equity Inducement | Option to purchase 50,000 shares; 5-year term; cashless exercise; vesting noted above; outside 2020 Plan | |
| Severance / Change-of-Control | Not disclosed in CFO agreement; plan-level awards feature double-trigger vesting only if assumed/substituted and involuntary termination post-CIC (CFO’s options were granted outside the plan) | |
| Clawback | Company-wide clawback policy applies to plan awards; CFO grant was outside plan; agreement-specific clawback not disclosed |
Board Governance
- Compensation Committee: Lourdes Felix, Guy Primus, Jason Sawyer; Sawyer as Chair .
- Audit Committee: Jason Sawyer, Guy Primus, Lourdes Felix; Felix as Chair; Felix designated audit committee financial expert .
- Committee independence affirmed; no interlocks reported .
Risk Indicators & Red Flags
- Legal proceedings: None disclosed for officers/directors in prior 10 years .
- Related party transactions: None reported for 2024–2022 .
- Insider trading compliance: Company reported Section 16(a) compliance for 2024; CFO certifications filed with Q3 2025 10-Q .
- Hedging/shorting prohibited; pledging of awards restricted; ownership guideline policy not disclosed .
Compensation Structure Analysis
- Increased equity mix in 2025: CFO received an outside-plan inducement option on appointment; Q3 recognized fair value expense of $55,732 for CFO grant, indicating meaningful equity-based pay despite cash-constrained environment .
- Use of outside-plan grants: CFO and CEO grants occurred outside the 2020 Plan, with bespoke terms (cashless exercise and potential vest acceleration), which may introduce variability versus plan governance (e.g., CIC double-trigger) .
- Performance metrics: No formulaic financial metrics disclosed; committee emphasizes operational execution (clinical/R&D/IP/budget/capital raising), implying discretionary bonus determination .
Investment Implications
- Alignment: Modest personal ownership (12,500 vested options ~0.2% of shares) with progressive vesting through 2026; hedging/shorting prohibited, supporting alignment; pledging not disclosed .
- Retention and selling pressure: Quarterly vesting cadence (12.5% per quarter) could create periodic liquidity windows; outside-plan terms include cashless exercise and possible acceleration, which could affect timing of exercises; monitor Form 4s around quarter-ends .
- Change-of-control mechanics: Plan-level double-trigger protects long-term alignment; however, CFO’s grant outside the plan may have different acceleration triggers not fully disclosed—review final option agreement when filed to assess CIC economics .
- Pay-for-performance: Discretionary bonus framework centered on execution (budget control, clinical progress, capital raising) suggests qualitative assessment; investors should track quarterly MD&A for option expense, cash compensation, and progress on R&D milestones to gauge pay outcomes .