Andrew R. Crescenzo
About Andrew R. Crescenzo
Andrew R. Crescenzo, age 69, has served as Chief Financial Officer of Sharps Technology since May 2019 (initially via CFO Consulting Partners LLP through September 30, 2022; employee since October 1, 2022). He is a CPA with a BBA from Adelphi University and prior senior finance roles at United Metro Energy, Enzo Biochem (NYSE: ENZ), and Grant Thornton LLP . Under his tenure, recent company results show sustained operating losses (see Performance & Track Record).
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Sharps Technology, Inc. | Chief Financial Officer | May 2019–present | Finance leadership during scaling efforts and capital markets activity . |
| CFO Consulting Partners LLP | CFO (consulting arrangement to STSS) | Through Sep 30, 2022 | Transitioned STSS finance function from consultant to employee model . |
| United Metro Energy | Chief Financial Officer | 2014–2016 | Led finance for energy distribution operations . |
| Enzo Biochem (NYSE: ENZ) | Senior Vice President of Finance | 2006–2014 | Public company finance leadership in biotech/diagnostics . |
| Grant Thornton LLP | Executive Director; Senior Manager | 2002–2006; 1997–2002 | Audit/consulting leadership at Big 6/Top 5 firm . |
External Roles
No public-company directorships or external board roles disclosed for Mr. Crescenzo in the company’s proxy materials .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Bonus ($) | Other Payments ($) |
|---|---|---|---|---|
| 2023 | 225,000 | — | — | 11,232 |
| 2024 | 225,000 | — | — | 11,040 |
Notes:
- One-time incentive at hire: $18,750 per employment agreement dated September 9, 2021 .
- Agreement is terminable by either party on 90 days’ written notice .
Performance Compensation
| Year | Stock Awards ($) | Option Awards ($) | Bonus Plan Metrics | Bonus Payout |
|---|---|---|---|---|
| 2023 | — | 20,629 | Not disclosed | — |
| 2024 | — | 15,860 | Not disclosed | — |
- Equity award metrics/weightings and annual bonus targets for Mr. Crescenzo are not disclosed; no cash bonus reported for 2023–2024 .
Outstanding Equity Awards (as of Dec 31, 2024; post–April 2025 reverse split)
| Grant (aggregated by terms) | Vested Options (#) | Unvested Options (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| Grant A | 11 | 4 | 1,881 | 4/26/2029 |
| Grant B | 4 | 1 | 9,042 | 1/25/2028 |
| Grant C | 2 | — | 7,986 | 5/2/2027 |
| Grant D | 1 | — | 46,200 | 9/30/2026 |
| Grant E | 2 | — | 46,200 | 9/30/2026 |
| Grant F | 3 | — | 28,875 | 10/1/2025 |
Plan vesting framework (for context): time-based options generally vest in three equal annual installments; performance-based options may vest on the third anniversary, subject to goals; committee discretion on acceleration applies .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 10,026 shares (includes 10,024 shares underlying options exercisable within 60 days of Sept 9, 2025) . |
| Ownership as % of outstanding | Less than 1% . |
| Vested vs unvested (as of 12/31/24) | Vested and unvested options outstanding; see table above . |
| Shares pledged as collateral | Prohibited by policy (anti-hedging/anti-pledging) . |
| Hedging/derivatives | Prohibited (short sales, publicly traded options, similar hedges) . |
| Ownership guidelines | Not disclosed in proxy materials . |
Employment Terms
| Term | Key points |
|---|---|
| Agreement date | September 9, 2021 . |
| Base salary | $225,000 . |
| Sign-on/one-time | $18,750 upon commencement . |
| Term/termination | Either party may terminate with 90 days’ written notice . |
| Severance | Not disclosed for Mr. Crescenzo . |
| Change-of-control | Not disclosed for Mr. Crescenzo . |
| Restrictive covenants | Not disclosed specific to Mr. Crescenzo; companywide Code/Insider policies apply . |
| Clawback | Company adopted executive compensation recovery policy consistent with SEC/Nasdaq for restatements (3-year lookback) . |
| Anti-hedging/pledging | Prohibits hedging and pledging of company stock . |
Performance & Track Record
| Metric ($) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| EBITDA | -8,084,221* | -9,244,473* | -8,852,806* |
| Net Income | -4,639,662* | -9,841,638* | -9,296,202* |
Values retrieved from S&P Global.*
Context:
- Executive officer biographies and proxy materials do not disclose TSR or revenue growth metrics tied to Mr. Crescenzo’s compensation; company has reported sustained operating and net losses over FY2022–FY2024 .
Governance, Policies, and Related-Party Notes
- Anti-hedging/anti-pledging policy applies to officers and prohibits pledging, short sales, and options transactions on company securities .
- Executive compensation clawback policy aligned with SEC/Nasdaq rules (restatement-triggered recovery over prior three fiscal years) .
- Related-party/other notes: as of March 31, 2025 and December 31, 2024, accounts payable and accrued liabilities included $22,000 and $99,500, respectively, payable to officers and directors (aggregate; counterparties not detailed) .
Compensation Structure Analysis
- Mix: Compensation is predominantly fixed cash base salary; no cash bonuses reported in 2023–2024; option award grant-date fair values were modest ($20,629 in 2023; $15,860 in 2024) relative to salary .
- Performance linkage: No disclosed bonus targets/metrics for Mr. Crescenzo and no bonus payouts, implying limited short-term performance-based cash pay .
- Equity program: Outstanding options have high post–reverse split exercise prices and staggered expirations (2025–2029). Time-based vesting is standard unless performance conditions apply .
Vesting Schedules and Insider Selling Pressure
- Upcoming expirations could create exercise windows (e.g., October 1, 2025; September 30, 2026; January 25, 2028; April 26, 2029), but any sales are constrained by the company’s insider trading policy and prohibitions on hedging/pledging .
- Beneficial ownership indicates minimal direct stock holding and ownership <1%, suggesting limited direct shareholder-alignment via common shares; options exercisable within 60 days represent the bulk of beneficially owned “in the money” exposure as defined by SEC rules, though actual intrinsic value depends on market price vs strike .
Investment Implications
- Alignment: Low reported equity ownership (<1%) and absence of disclosed annual bonus metrics/payouts suggest limited direct pay-for-performance linkage; clawback and anti-hedging/pledging policies partially mitigate misalignment risk .
- Retention: Employment terms are relatively light (90-day mutual termination, no disclosed severance or change-of-control benefits), which may raise retention risk in competitive markets but also limits shareholder obligations upon separation .
- Overhang/supply: Multiple option grants with near-to-medium-term expirations (2025–2029) could introduce episodic exercise/sale windows; actual selling pressure will depend on trading windows and market price coverage of high post–reverse split strikes .
- Execution/track record: Persistent negative EBITDA and net losses underscore operational turnaround requirements; finance leadership continuity since 2019 may aid execution, but compensation structure provides limited variable incentive disclosure to assess performance alignment rigor .