Susan Blum
About Susan Blum
Susan Blum is an independent director at BiomX Inc. (PHGE), serving since April 2024. She is Chief Financial Officer of Melinta Therapeutics, LLC, and is a Certified Public Accountant with a B.S. in Business Commerce (Accounting) from Santa Clara University . Melinta filed Chapter 11 in December 2019 and emerged in April 2020; Ms. Blum has served in finance leadership roles there since 2016 and as CFO since 2021 . The PHGE Board has determined she is independent under NYSE American and SEC standards and regularly holds independent director sessions .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Melinta Therapeutics, LLC | Controller; VP Finance & Chief Accounting Officer; Chief Financial Officer | Controller 2016–2018; VP Finance & CAO 2018–2021; CFO 2021–present | Finance leadership; reorg context (Melinta Ch.11 in 12/2019; emerged 4/2020) |
| Textura Corporation | Corporate Controller | 2013–2016 | Supported IPO and transition to public company |
| Orbitz Worldwide, Inc. (NYSE: OWW) | Leadership in external reporting, technical accounting | 2011–2013 | External reporting, compliance, ICFR |
| Facet Biotech Corporation; PDL BioPharma, Inc. (Nasdaq: PDLI) | Accounting leadership | 2004–2010 | External reporting, technical accounting, ICFR |
| Ernst & Young | Public accounting | Nearly seven years | Large public and development-stage clients |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BioNJ | Cybersecurity Committee member | Not disclosed | Industry cybersecurity engagement |
| Other public company directorships | None mentioned in PHGE proxy biography | — | — |
Board Governance
- Independence: Determined independent by PHGE Board under NYSE American and SEC standards; independent directors meet in regular executive sessions .
- Board/Committee workload and attendance: Board held 22 meetings in FY2024; all incumbent directors attended at least 75% of Board and applicable committee meetings .
- Annual meeting attendance: Except CEO Jonathan Solomon, none of the directors attended the 2024 annual meeting of stockholders (engagement signal to monitor) .
- Committee assignments and chair roles:
- Audit Committee: Chair (Audit Committee Financial Expert) .
- Compensation Committee: Not a member .
- Nominating & Corporate Governance Committee: Not a member .
| Committee | Role | Meetings in 2024 |
|---|---|---|
| Audit | Chair; Audit Committee Financial Expert | 6 |
| Compensation | — | 2 (committee total) |
| Nominating & Corporate Governance | — | 2 (committee total) |
Fixed Compensation
| Component | Amount/Policy | Period |
|---|---|---|
| Annual cash retainer (non-employee directors) | $35,000 | Policy (ongoing) |
| Audit Committee Chair retainer | +$15,000 annually | Policy (ongoing) |
| Audit Committee member retainer (non-chair) | +$7,500 annually | Policy (ongoing) |
| Cash fees actually paid to Susan Blum | $35,164 | FY2024 |
Notes:
- PHGE pays cash retainers quarterly and reimburses director travel expenses .
Performance Compensation
- Annual equity awards for directors are options; no RSUs/PSUs disclosed for directors .
- 2024 grant structure: 17,600 options to continuing directors; 26,400 to newly appointed directors; 35,200 to Board Chair .
- Vesting schedule: 25% on first anniversary, remainder in 12 equal quarterly installments, subject to continued service .
| Metric | Details |
|---|---|
| Option awards (grant size) | 26,400 options (new director grant in 2024) |
| Grant date fair value (FY2024) | $22,442 (ASC 718) |
| Options exercisable/vested as of 12/31/2024 | 0 |
| Vesting schedule | 25% at 1-year; 75% quarterly over next 3 years |
| Option type/plan | Equity awards under 2019 Plan; options are annual director awards |
Performance metrics tied to director compensation:
- None disclosed (no TSR, revenue/EBITDA, or ESG-linked metrics for director equity) .
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Notes |
|---|---|---|
| None disclosed in PHGE proxy biography | — | No cross-directorships with PHGE customers/suppliers disclosed |
Expertise & Qualifications
- CPA; extensive finance/accounting leadership in life sciences; determined “Audit Committee Financial Expert” by PHGE Board .
- Public company readiness/controls experience (Textura IPO; Orbitz external reporting/ICFR) .
- Education: B.S. Business Commerce (Accounting), Santa Clara University .
Equity Ownership
| Metric | Mar 17, 2025 | Aug 22, 2025 |
|---|---|---|
| Beneficial ownership (shares) | — | 8,250 |
| Percent of class | — | <1% (asterisked “Less than 1%”) |
| Shares outstanding (reference for % calc) | 24,966,053 | 26,554,887 |
Director options status (as of 12/31/2024):
| Metric | Value |
|---|---|
| Total options granted (director) | 26,400 |
| Exercisable/vested | 0 |
Insider trading/hedging policy:
- Prohibits short sales; options/derivatives trading in company securities; short-term trading; margin accounts; and hedging transactions—supports alignment and risk control .
Governance Assessment
-
Strengths:
- Independent director with deep finance/accounting background; serves as Audit Chair and designated Audit Committee Financial Expert—supports financial reporting integrity .
- Clear director compensation policy with modest cash retainer and option-based equity, vesting over time—aligns tenure and equity-based incentives .
- Prohibitions on hedging/pledging/margin use—reduces misalignment and risk .
- Board independence majority and regular independent sessions—governance best practice .
-
Watch items:
- Annual meeting attendance: Only the CEO attended the 2024 annual meeting; directors’ absence may be viewed as weaker shareholder engagement .
- Equity ownership: Beneficial ownership reported at 8,250 shares as of Aug 22, 2025, still <1%—monitor ownership trajectory for alignment over time .
- Melinta restructuring history: While Blum’s CFO tenure began after the 2020 emergence, the background warrants normal diligence on related-party exposure; none disclosed at PHGE .
-
Compensation structure observations:
- New director option grant size (26,400) consistent with policy; no performance-vesting equity disclosed—common for directors but lowers pay-for-performance sensitivity versus PSUs/TSR-style awards .
- Independent compensation consultant (Aon) used for broader compensation benchmarking—helps mitigate consultant conflicts; committee composition independent .
-
Conflicts/related-party transactions:
- PHGE conducts annual independence reviews; no specific related-party transactions disclosed for Blum .
-
Overall implication:
- Blum’s audit leadership and CPA credentials are positives for investor confidence in oversight of reporting and controls; continued monitoring of engagement signals (annual meeting attendance) and equity accumulation is prudent .