Greg Schiffman
About Greg Schiffman
Independent director since the 2018 DropCar merger (now StableX Technologies), Schiffman brings three decades of CFO and audit oversight experience across life sciences and technology. He is an SEC-defined “audit committee financial expert,” with a B.S. in Accounting (DePaul) and an MBA from Northwestern’s Kellogg School; recent roles include CFO (now senior advisor) at Absci and board positions at Nanomix and BioEclipse Therapeutics .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Absci Corporation | Chief Financial Officer; Senior Advisor | CFO Apr 2020–Aug 2023; Senior Advisor thereafter | Led finance through growth stage; retired then continued advising |
| Vineti, Inc. | Chief Financial Officer | Oct 2017–Apr 2018 | Finance leadership |
| Iovance Biotherapeutics (Lion Biotechnologies) | Chief Financial Officer | Oct 2016–Jun 2017 | Finance leadership |
| StemCells, Inc. | Chief Financial Officer | Jan 2014–Sep 2016 | Finance leadership |
| Dendreon Corporation | Chief Financial Officer | Dec 2006–Dec 2013 (company filed Chapter 11 in Nov 2014) | Oversaw finance; bankruptcy followed in 2014 |
| Affymetrix Corporation | Chief Financial Officer | Aug 2001–Nov 2006 | Finance leadership |
External Roles
| Company | Role | Listing/Status | Notes |
|---|---|---|---|
| Nanomix Corporation | Director | OTCQB: NNMX | Diagnostics board role |
| BioEclipse Therapeutics, Inc. | Director | Private | Biotherapeutics board role |
| Absci Corporation | Senior Advisor | Public company | Former CFO; now advisor |
Board Governance
| Area | Details |
|---|---|
| Independence | Board deems Schiffman independent under Nasdaq rules; SEC “audit committee financial expert” designation . |
| Committee assignments | Audit Committee – Chair; Compensation & Human Resources – Member; Nominating & Corporate Governance – Chair (as of Apr 21, 2025) . |
| Attendance | Board held 10 meetings in FY2024; each director attended at least 75% of aggregate Board/committee meetings . |
| Annual meeting attendance | No directors attended the 2024 annual meeting (noted as a board-wide issue) . |
Fixed Compensation
| Year | Cash Fees ($) | Equity Awards ($) | Other ($) | Total ($) |
|---|---|---|---|---|
| 2023 | 57,504 | 84,500 | – | 142,004 |
| 2024 | 67,750 | 102,845 | – | 173,375 |
Notes:
- Board-approved director cash framework historically included additional chair retainers (e.g., Audit $12.5k; Comp $11.5k; N&G $8k), though paid amounts are shown above for 2023; the board disclosed the fee schedule in prior proxies .
- The company discloses no director change-in-control or severance arrangements; recoupment (clawback) applies per plan policy .
Performance Compensation
| Grant/Year | Instrument | Amount/Terms | Vesting | Exercise/Term | Source |
|---|---|---|---|---|---|
| 2023 | RSU/Stock Award | $84,500 grant-date fair value | Time-based per annual director grant program | N/A | |
| 2024 | RSU/Stock Award | $102,845 grant-date fair value | Time-based per annual director grant program | N/A | |
| Oct 31, 2025 | Stock Options | 22,723 options to each non-employee director | 75% vested at grant; 25% vests Dec 31, 2025 (service-based) | Exercise price = greater of $6.25 or FMV on grant date; 10-year term |
Observations:
- Director equity has been purely service-based; no explicit performance metrics are disclosed for director grants (the plan permits performance awards, but director equity here is time/vesting-based) .
Equity Ownership
| Metric | Amount |
|---|---|
| Common shares owned (direct) | 841 shares |
| Vested RSUs (settlement-eligible) | 881 shares (vested RSUs) |
| Total beneficial ownership | 1,722 shares (<1% of outstanding) |
| Shares outstanding (context) | 888,978 common shares outstanding as of record date (Sept 5, 2025) |
| Hedging/pledging posture | Company policy prohibits hedging/pledging without CFO pre-approval; no pledges disclosed for Schiffman . |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Current public company boards | Nanomix Corporation (OTCQB: NNMX) – Director . |
| Private boards | BioEclipse Therapeutics, Inc. – Director . |
| SBLX-related interlocks (customers/suppliers/competitors) | None disclosed in SBLX proxy filings provided. |
| Related-party transactions | Audit Committee chartered responsibility to review/approve related-party transactions; no Schiffman-specific related-party items disclosed here . |
Expertise & Qualifications
- Audit committee financial expert with requisite Nasdaq financial sophistication; chairs Audit and Nominating & Governance .
- Deep CFO background across public and private life sciences/tech; served as CFO of Absci, Dendreon, Affymetrix, Iovance, StemCells, Vineti .
- Education: B.S. Accounting (DePaul); MBA (Northwestern Kellogg) .
Governance Assessment
Strengths
- Independent director with significant financial expertise; chairs key oversight committees (Audit; Nominating & Governance) .
- Consistent ≥75% meeting attendance in FY2024; multi-year service provides continuity .
- Ownership is positive but modest; equity component of director pay aligns some interests with shareholders .
Watch items / RED FLAGS
- Annual meeting engagement: no directors attended the 2024 annual meeting; this is a board-wide engagement concern .
- Equity-heavy director compensation increased YoY (cash and stock awards rose from 2023 to 2024), and October 2025 option grants were 75% immediately vested, reducing retention incentive and creating potential optics issues on alignment and dilution .
- Historical association: Dendreon filed Chapter 11 in 2014 after his CFO tenure (contextual track record consideration) .
- Section 16(a) compliance: the company disclosed late Form 4 filings in 2023 by several directors including Schiffman (administrative, but a minor compliance flag) .
- Share overhang/dilution backdrop: Board sought to increase LTIP pool to 400,000 shares in Sept 2025, raising potential dilution; not director-specific but relevant to equity alignment optics .
Policy framework
- Insider trading policy prohibits hedging/pledging without advance CFO approval (alignment measure) .
- Plan includes clawback/recoupment on restatement per Board policy .
Citations
- Independence, committee roles, audit committee financial expert, attendance, and annual-meeting disclosure: .
- Background, education, and prior CFO roles; external boards; Dendreon bankruptcy note: .
- Director compensation (2023, 2024): .
- 2025 director option grant terms: .
- Equity ownership and vested RSUs: .
- Compensation framework history and chair fees (context): .
- Insider trading policy/hedging pledging limits; late Section 16 filings: .
- LTIP increase (400,000 shares): .