David Natan
About David Natan
David Natan (age 72) is an independent director of Sunshine Biopharma Inc. (SBFM), serving since February 10, 2022; he chairs the Audit Committee and is designated the audit committee financial expert . He is also a member of the Compensation Committee and the Nominating & Corporate Governance Committee, and has been affirmatively determined independent under Nasdaq rules . Natan previously served in senior finance roles (CFO) at public companies and holds a B.A. in Economics from Boston University, grounding his board contributions in financial reporting, controls, and governance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ForceField Energy, Inc. (OTCMKTS: FNRG) | Chief Executive Officer | Feb 2010 – May 2020 | Led operations; public company leadership and investor-facing responsibilities |
| PharmaNet Development Group, Inc. | Chief Financial Officer | Feb 2002 – Nov 2007 | SEC reporting, financial controls, drug development sector finance |
| Global Technovations, Inc. | Chief Financial Officer & VP | Jun 1995 – Feb 2002 | Manufacturing finance, capital allocation, FP&A |
| Deloitte & Touche LLP | Various roles | Prior to 1995 (dates not specified) | Audit, accounting, internal controls foundation |
| Natan & Associates, LLC | President & CEO | 2007 – present | Provides CFO services to public and private companies |
External Roles
| Organization | Role | Tenure/Status | Committees |
|---|---|---|---|
| FiEE Inc. (Nasdaq: FIEE) | Director; Audit Committee Chair | Appointed November 2023; current | Audit Chair |
| Natan & Associates, LLC | President & CEO | 2007 – present | N/A (consulting firm) |
Board Governance
- Committee assignments and roles:
- Audit Committee: Chair; independent; Natan is the audit committee financial expert .
- Compensation Committee: Member; independent .
- Nominating & Corporate Governance Committee: Member; independent .
- Meeting cadence and engagement:
- Board met once in 2024 and acted by unanimous written consent 16 times; directors are expected to attend board, committee, and annual meetings .
- Audit, Compensation, and Nominating & Corporate Governance Committees did not meet separately during 2024 .
- Leadership structure and independence:
- The CEO (Dr. Steve Slilaty) also serves as Chairman; the Board has no policy requiring separation of roles and no lead independent director is disclosed .
- Shareholder communications: Contact is directed to the Chair/CEO at the company’s address .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 80,000 | – | – | – | 80,000 |
Notes:
- No separate committee chair or meeting fees are disclosed; each director, including Natan, received $80,000 in cash for 2024 .
Performance Compensation
- Equity awards: No director stock awards or option grants were issued in 2024; the company had no outstanding equity awards as of December 31, 2024, and no grants had been made under the 2023 Equity Incentive Plan as of that date .
- Performance metrics tied to director pay: None disclosed; the company states it currently does not use equity compensation and is not currently using financial metrics in executive compensation (contextual to compensation philosophy) .
Other Directorships & Interlocks
| Company | Market | Role | Committee Positions |
|---|---|---|---|
| FiEE Inc. | Nasdaq | Director | Audit Committee Chair |
No related-party interlocks with Sunshine Biopharma customers/suppliers/competitors were disclosed for Natan; the proxy’s related-party section highlights transactions involving the CEO’s purchase of preferred shares, not Natan .
Expertise & Qualifications
- Designated Audit Committee Financial Expert; deep financial reporting and audit oversight expertise .
- Former public-company CFO; Big Four experience (Deloitte & Touche) .
- Broad operating and capital markets experience as CEO (ForceField Energy) and consulting CFO to public/private companies .
- Education: B.A., Economics, Boston University .
- Independence: Affirmed independent under Nasdaq rules .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Options (Exercisable/Unexercisable) | Pledged Shares | Notes |
|---|---|---|---|---|---|
| David Natan | 0 | <1% | None disclosed; no outstanding equity awards companywide at 12/31/2024 | Not disclosed | Beneficial ownership table lists 0 shares for Natan |
Additional context:
- CEO controls 130,000 shares of Series B Preferred Stock, representing 100% of that class; each Series B share has 1,000 votes, indicating concentrated voting power at the company level (not attributable to Natan) .
Governance Assessment
Positive indicators
- Independent director with substantial finance/audit pedigree; serves as Audit Chair and designated financial expert, strengthening financial oversight .
- Holds an external Nasdaq audit chair role (FiEE), enhancing best-practice transfer and governance signal .
- No disclosed involvement in legal proceedings over the past 10 years for directors/officers, supporting baseline integrity standards .
Risk indicators and red flags
- Board and all three key committees did not meet separately in 2024; board held a single meeting plus 16 unanimous consents, which can signal limited formal oversight cadence in a period of auditor changes and equity plan amendments .
- No director equity holdings for Natan (0 shares) and no director equity program in 2024 reduces ownership alignment and at-risk pay linkage for board oversight .
- Combined CEO/Chair with no disclosed lead independent director reduces independent counterbalance at the board leadership level .
- Company-level voting control concentrated with CEO via Series B Preferred (not a Natan-specific issue but material to overall governance dynamics) .
Related-party and conflicts
- No related-party transactions involving Natan were disclosed; 2024 transactions involved the CEO’s purchases of Series B Preferred .
- Independence affirmed for Natan; Audit, Compensation, and Nominating committees composed of independent directors .
Attendance and engagement
- Individual attendance rates are not disclosed; explicit expectation to attend, but only one board meeting and no separate committee meetings were held in 2024 .
Compensation structure signal
- Flat, cash-only director pay ($80,000) with no chair-premium disclosed may under-incentivize heavier committee workloads (e.g., Audit Chair), though it simplifies the pay mix; no equity grants limit long-term alignment .