Debra White
PAVmedAbout Debra J. White
Debra J. White is an independent director of PAVmed, serving since April 2021; she is age 63 and brings extensive CEO/CFO/operator and board experience across healthcare services, biopharma-adjacent, and industrials in the UK and U.S. She is designated an “audit committee financial expert,” and currently chairs PAVmed’s Audit Committee; she also serves on the Compensation Committee. Her term as a Class B director runs through the 2027 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AstraZeneca (Zeneca) | Finance and strategic roles incl. Head of Finance – Manufacturing; Head of Internal Audit – Zeneca Pharmaceuticals; Controller – Specialty Chemicals; Controller – Corporate | 1987–2000 | Finance, internal audit leadership |
| PwC Consulting | Director | 2000–2003 | Strategy and post-merger integration advisory (incl. pharma) |
| Sodexo SA | CFO and later CEO – UK & Ireland; Group SVP Strategic Projects; SVP & CFO – North America; Executive Board member & Global CEO – Healthcare & Government | 2004–2017 | Led global businesses with 100k employees; Women 1st Top 100 Club recognition |
| Interserve Group | Group CEO | 2017–2019 | Implemented complex financing/operational programs prior to restructuring and sale to creditors (turnaround context) |
| UK Dept. of Health & Social Care | Helped establish COVID-19 testing facilities across the UK | Mar–Jul 2020 | National testing rollout support |
| Oxford Nanopore Technologies | Strategic consultant for emerging Diagnostics unit | Sep 2020–Mar 2021 | Product and go-to-market strategy |
| BT Group plc | Interim Chief Human Resources Officer | Oct 2021–Dec 2022 | Group HR leadership at multinational telecom |
External Roles
| Organization | Role | Type | Tenure | Committees/Notes |
|---|---|---|---|---|
| Spire Healthcare Plc | Senior Independent Director | Public company (UK) | Since Feb 2023 | Senior independent oversight |
| The Co‑op Group | Chair (joined Aug 2023; Chair since Jan 2024) | Private cooperative | Since Aug 2023 (Chair since Jan 2024) | Large consumer cooperative; >£11B sales |
| Howden Joinery Group PLC | Director | Public company (UK) | Feb 2017–Dec 2023 | Served on Audit, Remuneration, and Nominating Committees |
| Lucid (PAVmed subsidiary) | Director | Subsidiary | Since Aug 2022 | Subsidiary board role |
| Wellbeing of Women (UK charity) | Trustee | Non-profit | Since Mar 2013 | Women’s health research charity governance |
Board Governance
- Committee assignments and leadership:
- Audit Committee: Chair; members include White, Baxter, Sparks; met 4 times in FY2024; all designated “audit committee financial experts” .
- Compensation Committee: Members Sparks, Glennon, White; met once and acted by written consent six times in FY2024; all members independent under Nasdaq standards .
- Nominating & Corporate Governance Committee: Members Baxter, Glennon, Sparks; met 3 times in FY2024 . In FY2023 the committee included Cox, Harvey, Glennon, Sparks, Baxter .
- Independence: Board determined White is independent under Nasdaq rules; independent directors constituted a majority and held executive sessions .
- Attendance: In FY2023, all directors attended at least 75% of Board and committee meetings .
- Board structure: Classified Board; White is Class B, term expires at the 2027 annual meeting; Sparks serves as Lead Independent Director .
Fixed Compensation
| Item | Chair fee ($) | Member fee ($) |
|---|---|---|
| Annual retainer (non-executive directors) | — | $50,000 |
| Audit Committee | $27,500 | $17,500 |
| Compensation Committee | $18,000 | $12,500 |
| Nominating & Corporate Governance Committee | $12,500 | $7,500 |
| Debra J. White – Director Compensation | FY2023 | FY2024 |
|---|---|---|
| Fees earned ($) | $90,000 | $90,000 |
| Equity awards (grant-date fair value, $) | $158,895 (options) | $120,250 (restricted stock) |
| Total ($) | $248,895 | $210,250 |
Performance Compensation
| Equity Grant Summary | FY2023 | FY2024 |
|---|---|---|
| Instrument/type | Stock options | Restricted stock (annual equity in Feb 2024 shifted from options to RS) |
| Grant-date fair value ($) | $158,895 | $120,250 |
| Outstanding Awards (as of Dec 31, 2024) | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration |
|---|---|---|---|---|
| Stock Option Grant | 6,666 | — | 66.60 | Jun 14, 2031 |
| Stock Option Grant | 5,333 | — | 23.85 | Feb 17, 2032 |
| Stock Option Grant | 20,000 | 10,000 | 7.23 | Feb 18, 2033 |
| Restricted Stock Awards (as of Dec 31, 2024) | Unvested shares (#) | Vesting date | Market value ($) |
|---|---|---|---|
| RS Award | 65,000 | 100% vests Nov 30, 2026 | $40,820 |
No director-specific performance metrics (e.g., revenue/EBITDA/TSR hurdles) were disclosed for these director equity awards; annual equity is standard-form RS/options for non-employee directors .
Other Directorships & Interlocks
| Organization | Relationship to PAVmed | Potential Interlock Considerations |
|---|---|---|
| Spire Healthcare Plc | Healthcare provider; White is Senior Independent Director | Sector adjacency (healthcare services) could provide ecosystem insight; no related-party transactions disclosed at PAVmed |
| The Co‑op Group | Consumer cooperative; White is Chair | Unrelated to PAVmed’s core business; time-commitment consideration only |
| Howden Joinery Group PLC | Former director, left Dec 2023 | No direct overlap with PAVmed; prior committee experience |
| Lucid (subsidiary) | PAVmed subsidiary; White is director | Intra-group board role; compensation at Lucid disclosed in its filings |
Expertise & Qualifications
- Audit committee financial expert designation; financially sophisticated under Nasdaq standards .
- Deep finance and operations background (CFO, CEO roles at Sodexo; Interserve CEO; BT interim CHRO) across large-scale organizations .
- Strategic advisory and diagnostics experience (Oxford Nanopore); healthcare services and public company board leadership (Spire Healthcare) .
Equity Ownership
| Metric | Nov 25, 2024 | Apr 22, 2025 | Oct 23, 2025 |
|---|---|---|---|
| Beneficial ownership (shares) | 96,999 | 99,499 | 254,499 |
| Percent of class | <1% (denoted “*”) | <1% (denoted “*”) | <1% (denoted “*”) |
| Notable components | Includes 65,000 RS unvested and 31,999 options within 60 days | See record date breakdown in table footnotes | — |
Insider trading policy prohibits hedging, short sales, derivatives, and pledging of company securities by directors and officers, mitigating alignment risks .
Governance Assessment
- Strengths:
- Audit Committee Chair and SEC-defined financial expert; direct oversight of auditor independence, related-party approvals, and financial reporting quality .
- Independent status with documented committee engagement; FY2024 committee meeting cadence: Audit (4), Compensation (1 + 6 consents), Nominating (3) .
- Equity alignment via annual director equity awards; also holds RS unvested through 2026, supporting multi-year retention .
- Watch items / RED FLAGS:
- One late Section 16 Form 4 filing (Feb 2, 2023 for Jan 30, 2023 option grant) — procedural lapse noted across multiple directors, including White .
- Shift from options to restricted stock in Feb 2024 for director grants lowers performance leverage versus options; emphasizes retention/price exposure over explicit performance hurdles (not inherently negative, but reduces pay-for-performance sensitivity) .
- Significant external commitments (Chair of The Co‑op Group; Senior Independent Director at Spire Healthcare) may create time constraints; no attendance shortfalls disclosed for FY2023 .
- Conflicts/Related Parties:
- No Debra White-specific related-party transactions disclosed; audit committee pre-approves any related-party transactions and reviews independence implications per policy .
Additional context: The Audit Committee (chaired by White) recommended inclusion of audited financials in the 10‑K and oversaw auditor independence and appointment (CBIZ CPAs P.C. for FY2025; Marcum LLP for FY2024), signaling active oversight and continuity during auditor transitions .