Frank E. Jaumot
About Frank E. Jaumot
Frank E. Jaumot (age 68) is a certified public accountant (Florida and Ohio) with approximately 45 years of accounting, audit, financial reporting, and tax experience, and has been nominated as an independent director of Nutex Health Inc. for election at the July 14, 2025 annual meeting. He earned a B.S. in Accounting (cum laude) from Marquette University and is a member of the AICPA and Florida Institute of CPAs. Upon election, the Board intends to appoint him as Audit Committee Chair and as a member of the Compensation and Nominating & Corporate Governance Committees. The Board has determined he qualifies as an independent director under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ahearn, Jasco & Company, P.A. | Director of Accounting and Auditing; Shareholder | 1991–present | Leads accounting/audit practice; deep financial reporting expertise |
| Deloitte & Touche LLP | Audit professional | 1979–1991 | Big Four audit background |
| MasTec, Inc. (NYSE: MTZ) | Director | 2004–2016 | Audit Committee Chair (2007–2016) |
| Vapor Corp. (OTC: VPCO) | Director | 2014–2015 | Audit Committee Chair |
| Protective Products of America, Inc. | Director | 2009–2010 | Audit Committee Chair |
External Roles
| Company | Listing | Role | Tenure | Notes |
|---|---|---|---|---|
| Bimini Capital Management, Inc. | OTC: BMNM | Director | 2009–present | Specialty finance investing in mortgage-backed securities; Bimini is external manager to Orchid Island Capital (NYSE: ORC) |
| Orchid Island Capital, Inc. | NYSE: ORC | — | — | Related via Bimini’s external manager role; not disclosed as Jaumot’s directorship |
Board Governance
- Independence: The Board concluded Ms. Grenas, Messrs. Creem, Reed, Saunders, and Frank E. Jaumot qualify as “independent” under Nasdaq rules; Drs. Vo and Hosseinion are not independent; Dr. Spears is not independent due to affiliation with a Nutex hospital.
- Committee assignments: Intends to appoint Jaumot as Audit Committee Chair and as a member of the Compensation and Nominating & Corporate Governance Committees, upon election.
- Board leadership: CEO Thomas T. Vo serves as Chairman; the Board may appoint a lead independent director in the future; leadership structure reviewed periodically.
- Attendance: In 2024, incumbent directors attended ≥95% of Board and committee meetings; Jaumot was not on the Board in 2024.
- Anti-hedging/pledging: Policy prohibits hedging, short sales, margin accounts, and pledging company securities.
- Clawback: Nasdaq Rule 5608-compliant compensation recovery policy adopted.
Committee Intentions (post-election)
| Committee | Role |
|---|---|
| Audit | Chair |
| Compensation | Member |
| Nominating & Corporate Governance | Member |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non-executive directors) | $150,000 | Paid monthly |
| Audit Committee Chair | $20,000 | Annual additional retainer |
| Compensation Committee Chair | $15,000 | Annual additional retainer |
| Nominating & Governance Committee Chair | $15,000 | Annual additional retainer |
- 2024 actual director cash fees (illustrative of structure; Jaumot not yet a director): Creem $169,160; Grenas $162,500; Reed $165,000; Saunders $107,955.
Performance Compensation
| Equity Element | Grant Type | Vesting | 2024 Actual for Non-Exec Directors | Performance Metrics |
|---|---|---|---|---|
| Annual equity award (at Board discretion) | RSUs or common stock | One-year cliff vest, subject to continued service | $0 stock awards to non-executive directors in 2024 (all “—” in stock awards column) | None disclosed; awards are time-based, not tied to TSR/EBITDA/etc. |
The 2023 Equity Incentive Plan permits grants to directors; Nutex seeks stockholder approval to increase the share reserve and add a 5% annual evergreen beginning 2026–2033.
Other Directorships & Interlocks
| Entity | Sector | Relationship to NUTX |
|---|---|---|
| Bimini Capital Management (BMNM) | Specialty finance/MBS | No disclosed commercial ties to Nutex; not a customer/supplier; independence affirmed. |
| MasTec (MTZ), Vapor Corp (VPCO), Protective Products of America | Infrastructure, consumer/e-cigarette, defense | Past roles; no current interlocks with Nutex disclosed. |
- The proxy states no related party transactions requiring Item 404 disclosure for any Director Nominee, including Jaumot.
Expertise & Qualifications
- CPA (Florida and Ohio); AICPA and Florida Institute of CPAs; B.S. Accounting (cum laude), Marquette University.
- Extensive audit committee leadership including Audit Chair at MasTec (2007–2016).
- Deep experience in accounting, external financial reporting, and tax; enhances Board ability to evaluate accounting/reporting issues.
Equity Ownership
| Holder | Shares | % Ownership | Notes |
|---|---|---|---|
| Frank E. Jaumot | Not disclosed | — | Not listed in beneficial ownership table as of April 23, 2025 (pre-election). |
- Securities Trading Policy prohibits hedging and pledging; pre-clearance required; blackout periods apply.
Governance Assessment
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Strengths
- Independent status and intent to serve as Audit Committee Chair add financial oversight rigor; extensive audit chair experience at prior public companies.
- Anti-hedging/pledging and clawback policies support alignment and accountability.
- Board meeting cadence and incumbent attendance were strong in 2024; committee structure and charters in place.
-
Watch items / potential red flags
- Combined CEO/Chair structure may limit independent board leadership; Board may appoint a lead independent director but none disclosed currently.
- Equity plan amendment increases dilution capacity (1.1M shares) and adds a 5% annual evergreen beginning 2026, which could pressure shareholder value if not tightly managed.
- Significant related-party transactions exist at Nutex (physician LLCs, real estate entities, and CEO-affiliate advances), though none relate to Jaumot; continued oversight by Audit Committee will be critical.
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Overall implication: Jaumot’s audit and governance background should enhance board effectiveness and investor confidence, particularly as Audit Chair, provided the Board actively mitigates dilution risks and monitors related-party transactions through robust controls and disclosures.