Alfred Forbes
About Alfred Forbes
Alfred Forbes IV, age 49, is Vice President & Chief Science Officer of ScanTech AI Systems Inc. (STAI) since the January 2025 business combination that took SIBS public, after serving as VP – Science & Technology at ScanTech Identification Beam Systems, LLC since June 2016 . He holds a B.S. in Chemistry from Wofford College and a Ph.D. in Chemistry from Clemson University; his credentials span scintillation detector design, advanced imaging algorithms for threat detection, and photonic crystal research . Company-level TSR or revenue/EBITDA growth metrics tied to Forbes are not disclosed; STAI is focused on CT security scanners with aviation checkpoints as the initial market and broader security venues as future markets .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ScanTech Identification Beam Systems, LLC (SIBS) | Vice President – Science & Technology | 2016–2025 | Led research programs on low/high-energy X-rays for security applications; detector selection/design and advanced imaging algorithm development |
| Coca-Cola Bottling Company | Lead Quality Control Chemist | — | Directed qualitative/quantitative QC across production; equipment maintenance/calibration |
| Academic/Research | Head Research Scientist (Hydrothermal technique studies of advanced photonic crystals) | — | Fundamental studies on nucleation, solubility, transport growth for photonic crystals |
External Roles
No public-company directorships or external board roles disclosed for Forbes .
Fixed Compensation
Not disclosed for Alfred Forbes in the latest proxy; summary compensation was provided for other executives (CEO, COO, CTO) only .
Performance Compensation
- STAI’s 2025 Equity Incentive Plan authorizes stock options, RSUs, restricted stock, and performance awards with service and/or performance-based vesting; RSUs may carry dividend equivalents at Committee discretion; repricing of underwater options requires stockholder approval .
- Individual award sizes, performance metrics/targets, and actual payouts for Forbes are not disclosed in the proxy .
- Forbes filed a Form 4 on May 7, 2025 reporting insider equity activity, indicating active participation in equity awards; specific grant counts and vesting terms must be confirmed in the filing .
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 138,621 |
| Ownership as % of shares outstanding | <1.0% |
| Vested vs. unvested breakdown | Not disclosed |
| Options (exercisable/unexercisable) | Not disclosed |
| Shares pledged as collateral | Prohibited by policy for directors and certain officers |
| Insider trading controls | Pre-clearance, blackout periods, and Rule 10b5-1 trading plans permitted |
Notes:
- STAI issued all 4,000,000 shares reserved under the 2025 Plan as time-based RSUs to key employees and directors during 2025 (burn rate ~9%); individual allocations to Forbes are not specified .
- Change-in-control: outstanding options become immediately exercisable; RSUs/restricted stock become fully vested; performance award conditions lapse .
Employment Terms
| Term | Detail |
|---|---|
| Current role start date | January 2025 (upon business combination) |
| Prior role at SIBS | Vice President – Science & Technology since June 1, 2016 |
| Contract term/expiration | Not disclosed |
| Severance/change-of-control economics | Plan-level change-in-control acceleration of equity (single-trigger) applies; individual severance for Forbes not disclosed |
| Clawback | SEC/Nasdaq-compliant clawback policy for erroneously awarded incentive compensation over prior 3 completed fiscal years upon restatement |
| Hedging/pledging | Hedging/monetization transactions and pledging company securities prohibited for certain directors/officers |
| Non-compete/non-solicit | Not disclosed |
Investment Implications
- Alignment: Forbes’ direct stake is modest (<1%), with alignment primarily via equity awards under the 2025 Plan; anti-hedging/pledging and clawback policies strengthen governance, while single-trigger acceleration on change-in-control could influence incentives in strategic transactions .
- Supply overhang risk: 2025 Plan share increase (+6.8M) and evergreen +3% annually through 2035 expand future equity issuance capacity; combined with 2025’s 4.0M RSU issuance (burn ~9%), watch for vesting-related selling pressure, though individual schedules for Forbes are undisclosed .
- Capital/dilution and listing risk: Nasdaq minimum bid price deficiencies prompted a broad reverse split authorization (up to aggregate 1-for-250); an ARC Group ELOC could result in material dilution (ARC implied >60% ownership if fully utilized at illustrative prices), increasing overhang and potentially affecting employee retention and equity value realization .
- Controls/audit risk: Auditor resignation (UHY) and disclosed material weaknesses in internal control (segregation of duties, business process controls) flag execution risk; governance mitigants include Audit/Compensation Committee composition and adoption of clawback/insider trading controls .
- Trading signals: Monitor Form 4s (e.g., Forbes filed on May 7, 2025) for award grants/settlements and any 10b5-1 activity; align positions with milestones on reverse split decisions and ELOC drawdowns, which can materially impact float, price dynamics, and liquidity .