Daniel Aghion

About Daniel Aghion

Dr. Daniel Aghion (age 43) is an independent director of Oramed Pharmaceuticals Inc. (ORMP) who joined the Board in January 2024; he is a neurosurgeon at Memorial Neuroscience Institute in Florida since 2016, with an MD from the Sackler School of Medicine at Tel Aviv University and prior training at Brown University-Rhode Island Hospital (residency, 2015) and Johns Hopkins University (complex spine fellowship, 2016) . He is classified as independent under Nasdaq rules and attended at least 75% of Board and committee meetings in Fiscal 2024, supporting baseline engagement expectations .

Past Roles

External Roles

Board Governance

• Independence: The Board determined Dr. Aghion is independent under Nasdaq rules .
• Attendance: In Fiscal 2024, all directors except Benjamin Shapiro attended ≥75% of Board and committee meetings; Dr. Aghion met the ≥75% threshold .
• Board/Committee activity: Board held 6 meetings and 9 written consents in Fiscal 2024; Audit met 4 times with 4 consents; Compensation met 2 times with 4 consents; Nominating met once with 1 consent .
• Committee memberships (current):
  • Audit Committee (member; audit committee financial expert is Yehuda Reznick) .
  • Compensation Committee (member) .
  • Investment Committee (member; formed in 2025; oversees investment strategy and 1940 Act compliance) .
• Chair roles: None disclosed for Dr. Aghion; he is not designated chair of any committee .

Fixed Compensation

Performance Compensation

Note: Director equity awards are structured as time-based RSUs; the proxy describes performance metrics for potential executive awards under the plan but does not attach performance metrics to director grants .

Other Directorships & Interlocks

• No other public company boards disclosed for Dr. Aghion .
• Board interlocks context: Other ORMP independent directors Arie Mayer and Yehuda Reznick also serve on the board of Oravax Medical Inc., a 63%-owned affiliate of ORMP; Dr. Aghion is not listed as an Oravax director .

Expertise & Qualifications

• Practical/academic medical background in neurosurgery and complex spine, with MD from Sackler School (Tel Aviv University), residency at Brown/RI Hospital (2015), fellowship at Johns Hopkins (2016) .
• Board states Aghion’s qualifications include extensive medical experience; he is designated independent .

Equity Ownership

• Insider Trading Policy: Prohibits insider trading and speculative transactions, including short sales, buying puts/selling calls, and other hedging; establishes blackout periods and pre-clearance for directors and officers .
• Pledging/Hedging: Hedging prohibited; no specific disclosure on pledging by directors; none indicated for Dr. Aghion .
• Indemnification: Company maintains indemnification agreements with directors to the maximum extent permitted by law .

Governance Assessment

• Positives:

  • Independence confirmed; multi-committee service (Audit, Compensation, Investment) increases oversight breadth .
  • Attendance ≥75% meets governance engagement baseline; Board executed regular meetings and consents in FY24 .
  • Audit Committee includes a designated financial expert (Reznick), providing financial oversight depth alongside Aghion’s medical expertise .
  • Director compensation structure balances modest cash retainers with time-based RSUs; additional meeting fees may incentivize attendance and preparation .
  • Related-party transactions: none for FY2024/FY2023 beyond disclosed compensation arrangements; reduces conflict risk .
  • Insider trading policy restricts hedging/derivatives and enforces blackout periods; alignment-friendly .

• Watch items and potential red flags:

  • Ownership alignment is modest in absolute terms (18,820 shares, <1%); while RSUs increase potential alignment, low direct ownership can be viewed as a weaker “skin-in-the-game” signal for some investors .
  • Committee skill mix: Aghion’s primary expertise is clinical; reliance on other members (e.g., Reznick as financial expert) is critical for Audit Committee effectiveness .
  • Investment Committee oversight: Expanded remit to monitor investment strategy and Investment Company Act compliance reflects ORMP’s investment activities; this introduces governance complexity and potential regulatory exposure that requires strong oversight rigor .

• Context signals:

  • Director compensation framework codified with clear cash/RSU schedules and quarterly vesting; no performance metrics tied to director pay, consistent with common practice but limits pay-for-performance linkage for directors .
  • Company-wide indemnification in place; standard but reduces personal liability deterring effect .

Overall: Dr. Aghion is an engaged, independent director with strong clinical credentials on key oversight committees. Investors should monitor his ownership accumulation over time and the functioning of the Investment Committee as ORMP manages investment/regulatory exposure under the 1940 Act framework .