Kenny Yu
About Dr. Kenny Yu
Dr. Kenny Yu (age 37) is an independent director of Nano Nuclear Energy Inc. since May 8, 2023. He serves as Director of Pharmacy Services at NYU Langone Health (since 2021), previously launched and led the 340B pharmacy services program (since 2016), and serves as Educational Advisory Counsel at Apexus LLC; he holds an MBA from George Washington University and a Doctorate in Pharmacy from Rutgers University’s Ernest Mario School of Pharmacy . The board has determined he is independent under SEC and Nasdaq rules, and independent directors hold regular executive sessions .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NYU Langone Health | Director of Pharmacy Services | Since 2021 | Executive leadership; standardization and alignment of practices across sites |
| Apexus LLC | Educational Advisory Counsel | Ongoing (not dated) | Advisory role to improve access and patient care nationwide |
| 340B Pharmacy Services (Program) | Inaugural Director | Since 2016 | Built program from the ground up; managed compliance and optimization |
External Roles
| Organization | Role | Public Company? | Notes |
|---|---|---|---|
| NYU Langone Health | Director of Pharmacy Services | No | Healthcare system leadership |
| Apexus LLC | Educational Advisory Counsel | No | Advisory role; industry impact |
| Other public company boards | — | — | None disclosed for Dr. Yu |
Board Governance
- Independence: Board determined Dr. Yu is independent; three independent directors (Yu, Law, Hare) .
- Committee memberships:
- Audit Committee: Member; Chair is Dr. Tsun Yee Law; audit committee financial expert designated as Diane Hare .
- Compensation Committee: Member; Chair is Dr. Tsun Yee Law .
- Nominating & Corporate Governance Committee: Member; Chair is Diane Hare .
- Executive sessions: Independent directors meet in regularly scheduled sessions .
- Attendance: Board meeting attendance rate not disclosed.
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $5,000 | $35,000 |
| Stock Awards ($) | $0 | $0 |
| Option Awards ($) | $35,019 | $0 |
| Total ($) | $40,019 | $35,000 |
- Independent Director Agreement: Cash compensation $5,000 upon execution and $10,000 at one-year anniversary; 40,000 options at $3.00, exercisable within three years; 24‑month term; standard confidentiality, non‑compete, non‑solicit, non‑disparagement, indemnification .
Performance Compensation
| Award Type | Grant Date | Vesting Start | Vested (#) | Unvested (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|---|---|
| Nonqualified Stock Options | June 7, 2023 | June 7, 2023 | 40,000 | 0 | $3.00 | June 7, 2026 |
- Stock awards (RSUs/PSUs): None issued to directors in FY 2023 and FY 2024 .
- 2025 Equity Incentive Plan governance features: Prohibits option/SAR repricing without shareholder approval; $500,000 annual cap on total cash + grant-date fair value for any non-employee director; includes robust clawback language .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Notes |
|---|---|---|
| None disclosed | — | No other public company directorships for Dr. Yu disclosed |
Note: Another NNE independent director (Dr. Tsun Yee Law) serves as a director at LIS Technologies (LIST), with which NNE has an investment and collaboration; no direct interlock disclosed for Dr. Yu .
Expertise & Qualifications
- Licensed pharmacist; advanced operational leadership in healthcare (NYU Langone) .
- MBA (George Washington University) and PharmD (Rutgers) .
- Described qualifications include analyzing and interpreting financial information; not designated as the audit committee financial expert (that designation is to Diane Hare) .
Equity Ownership
| Holder | Total Beneficial Ownership (shares) | % of Outstanding | Common Shares Held | Options Exercisable <60 Days | Vested vs Unvested |
|---|---|---|---|---|---|
| Dr. Kenny Yu | 55,000 | <1% | 15,000 | 40,000 | Options fully vested; unvested 0 |
- Shares pledged/hedging: Not disclosed.
- Ownership guidelines: Director stock ownership guidelines and compliance status not disclosed.
Shareholder Voting Signal (2025 Annual Meeting)
| Proposal | For | Withheld/Against | Abstain | Broker Non‑Vote |
|---|---|---|---|---|
| Election of Dr. Kenny Yu | 15,110,146 | 107,538 | — | 10,295,821 |
| 2025 Equity Incentive Plan | 13,721,097 | 1,211,636 | 284,947 | 10,295,824 |
| Auditor Ratification (Withum) | 25,244,138 | 111,015 | 158,352 | 0 |
Governance Assessment
-
Positives:
- Independent director serving on all three key committees, indicating strong engagement in oversight .
- Strong shareholder support for re‑election (over 15.1M votes for; minimal withholds), supporting investor confidence .
- Audit Committee report signed by Dr. Yu and peers, recommending inclusion of audited financials in the 10‑K, evidencing active oversight .
- 2025 Equity Plan introduces shareholder‑friendly provisions: no repricing, annual director pay cap, and clawback—favorable governance signals .
-
Monitoring areas / potential risks:
- Concentrated control: Chairman/President Jay Jiang Yu beneficially owns ~28.33%—board independence pressure point in a controlled context .
- Director cash fees are delivered under consulting‑style agreements; presence of non‑compete/non‑solicit covenants in independent director agreements is atypical and could be viewed as constraining independence if broadly applied .
- Attendance metrics, hedging/pledging policies, and stock ownership guidelines for directors are not disclosed—information gaps for alignment assessment.
- Related‑party balances exist with executives (CEO, Chairman), though no transactions specifically involving Dr. Yu were disclosed .
-
Compensation mix trend:
- FY2023: modest cash plus option grant ($5k cash; $35k option grant value) .
- FY2024: cash fees increased ($35k) with no new equity awards; mix shifted toward cash for Dr. Yu .
-
RED FLAGS (none specifically tied to Dr. Yu disclosed):
- No option repricing noted; clawback present under 2025 plan .
- No director‑specific related‑party transactions disclosed for Dr. Yu .
Overall, Dr. Yu’s independence and full committee participation, coupled with strong investor support and improved equity plan governance, are positives; however, concentrated insider ownership and lack of disclosure on attendance and ownership guidelines warrant continued monitoring .