Tyrone Miller
About Tyrone Miller
Tyrone Miller is Chief Financial Officer of 60 Degrees Pharmaceuticals (SXTP), age 51 as of the latest proxy, and a Certified Public Accountant with a BBA in International Business from Emory University (1996) . He joined the company in 2014, has served as Treasurer, and helped raise over $6 million in external financing while establishing multinational financial reporting and tax strategies . An employment agreement dated January 12, 2023 governs his terms; the Board increased his base salary to $215,000 for FY2025 from $204,000 in 2024 . Company filings do not disclose TSR, revenue growth, or EBITDA growth tied specifically to his tenure—no performance metrics are provided beyond generic “performance goals or certain events” language .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| 60 Degrees Pharmaceuticals | CFO; previously Treasurer | 2014–present | Raised >$6M external financing; built multinational reporting; designed tax/credit strategies; strategic finance advisory |
| Sachs Figurelli, LLC | Senior Accountant | 2002–2011 | Corporate/individual tax returns; reengineered accounting processes; managed payroll/property filings and staff |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Miller Tax & Advisory | Founder & Principal | 2011–present | Advises closely held businesses; designed accounting systems; CPA-led practice |
Fixed Compensation
| Metric | 2023 | 2024 | 2025 (Approved) |
|---|---|---|---|
| Base Salary ($) | $135,632 | $204,000 | $215,000 (Board-approved for FY2025) |
Notes:
- “We periodically review, and may increase, base salaries in accordance with our normal annual compensation review” .
Performance Compensation
| Metric | Weighting | Target | Actual | Vesting/Timing |
|---|---|---|---|---|
| Annual Cash Bonus | Not disclosed | Not disclosed | $20,000 (2024) | Paid for 2024 |
| Stock Bonus | Not disclosed | Not disclosed | $19,525 (2024) | Not disclosed |
Employment agreement provides “bonuses to the extent certain events occur or if applicable performance goals are met” (metrics not specified) .
Option Awards – Grants and Terms
| Grant Date | Shares/Units | Exercise Price | Vesting | Expiration | Status/Notes |
|---|---|---|---|---|---|
| Jul 12, 2023 (initial CFO grant) | 12,000 total over 5 yrs (pre-split) | Reset to $1.00 (Nov 2023) | Modified to annual vesting (first vest 12/31/2024) | 12/31/2029 | At 12/31/2023: 240,000 unexercisable (pre-split count) at $1.00 |
| Jul 16, 2024 | 4,000 options | $60.00 | 5 equal annual tranches; first vest 12/31/2024 | 7/16/2034 | At 12/31/2024: 800 exercisable; 3,200 unearned at $60 |
| Jan 2, 2025 | 15,000 options | $6.55 | 5 equal annual tranches; first vest 12/31/2024 (per Board approval) | 7-year term | Board approved Dec 2024; fully vested 3,000 by Aug 14, 2025 |
The company effected a 1-for-5 reverse stock split on Feb 24, 2025; ownership tables are adjusted post-split in 2025 filings .
Outstanding Equity Awards (reference dates)
| Metric | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|
| Unexercised Options – Unexercisable (#) | 240,000 at $1.00; exp 12/31/2029 | 3,200 unearned at $60.00; exp 7/16/2034 |
| Unexercised Options – Exercisable (#) | — | 800 at $60.00; exp 7/16/2034 |
2024 Grant Date Fair Values (Summary Compensation)
| Component | 2024 Amount ($) |
|---|---|
| Option Award (2024) | $41,000 |
| Cash Bonus (2024) | $20,000 |
| Stock Bonus (2024) | $19,525 |
Equity Ownership & Alignment
| Metric | May 30, 2024 (Record Date for 2024 Proxy) | Mar 27, 2025 (10-K Record Date) | Aug 14, 2025 (2025 Proxy Record Date) |
|---|---|---|---|
| Beneficial Ownership – Total Shares | 176,928 | 6,074 | 9,074 |
| Ownership % of Class | 1.45% (12,206,116 shares o/s) | Less than 1% (1,472,891 shares o/s; post 1:5 split) | Less than 1% (4,104,469 shares o/s) |
| Direct/Common Shares Held | 176,928 | 5,274 | 5,274 |
| Options – Exercisable | — | 800 at $60.00 | 800 at $60.00; 3,000 at $6.55 (fully vested) |
| Pledging/Hedging | Not disclosed | Not disclosed | Not disclosed |
Notes:
- Section 16(a) delinquency: Company notes Mr. Miller failed to file a Form 4 regarding RSUs issued on Nov 21, 2023 .
- Directors and officers as a group own 1.69% as of Aug 14, 2025 .
Employment Terms
| Term | Details |
|---|---|
| Agreement Date & Role | Employment Agreement dated Jan 12, 2023; CFO |
| Term & Auto-Renewal | Initial 2-year term; automatic renewals unless 90-day prior notice |
| Base Salary | $204,000 (2024); Board-approved increase to $215,000 for FY2025 |
| Bonuses | Payable if certain events occur or performance goals are met (metrics not specified) |
| Severance (non‑Cause / non‑Good Reason termination) | Continuation of annual salary plus health insurance benefits, up to 18 months |
| Change-in-Control (CIC) | If terminated other than Cause/Disability or resigns for Good Reason on or within 24 months post-CIC, entitled to CIC severance (multiple not disclosed) |
| Non‑Compete & Non‑Solicit | During employment and for 24 months after termination |
| Clawback | Board adopted executive compensation recoupment policy Nov 23, 2023 (Rule 10D‑1/Nasdaq; restatements/fraud/misconduct) ; Plan-level clawback language also in 2024 proxy |
Compensation Committee & Governance Context
- Compensation Committee membership: Paul Field (Chair), Stephen Toovey, Charles Allen; Audit Chair: Charles Allen .
- Equity Plan (2022 Plan): permits options/RSUs/Performance Awards, non-transferable; change-in-control treatment may accelerate vesting or cash out awards; awards must be at or above FMV at grant; outside director grant limits specified .
- Equity award governance: timing overseen by Compensation Committee/legal counsel; policies designed to avoid improper use of MNPI; no fixed grant schedule .
- Shareholder approvals: On July 16, 2024, stockholders increased shares authorized under the 2022 Plan; Miller’s modified options became effective then .
Risk Indicators & Red Flags
- Section 16(a) reporting deficiency: Form 4 not filed for Miller’s Nov 21, 2023 RSUs .
- Frequent equity modifications: Board reset prior option exercise prices/vesting schedules in Nov 2023; later granted new options in 2024–2025—monitor dilution and incentives .
- Reverse stock split: 1-for-5 effected Feb 24, 2025; impacts reported ownership metrics .
Investment Implications
- Alignment: Miller holds common shares and has meaningful vested options across two strikes ($60 and $6.55), suggesting economic alignment; no pledging disclosed .
- Selling pressure: Annual vesting through 2028 (800 shares/year at $60; 3,000/year at $6.55) may create periodic liquidity events; monitor Form 4s for dispositions .
- Retention/CIC protection: 18 months salary+benefits severance and CIC severance with a 24‑month protection window and 24‑month non‑compete reduce near‑term departure risk; exact CIC multiple not disclosed (limits precision in modeling exit economics) .
- Pay-for-performance: Cash/stock bonuses paid in 2024, but specific metrics/weights aren’t disclosed; analysis relies on plan-level clawback and governance rather than target-based disclosure—limit in assessing pay-performance rigor .
- Governance quality: Formal clawback policy and committee oversight are positives; prior Section 16(a) delinquency warrants monitoring of reporting controls .