Ian Rhodes
About Ian Rhodes
Ian Rhodes is Interim Chief Financial Officer at TNF Pharmaceuticals and has served in this role since January 29, 2021/February 1, 2021; he is a licensed CPA in New York with a BS in Accounting from Seton Hall University and age 51 as of October 31, 2024 . His compensation is delivered via a consulting agreement with Brio Financial Group that pays a fixed monthly fee and has no disclosed performance-based components, bonuses, stock awards, or options for 2022-2024, indicating limited pay-for-performance linkage . He signed SOX 906 certifications on TNFA’s 10-Q, affirming the accuracy of financial reporting in November 2024, reflecting accountability in financial controls .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PricewaterhouseCoopers | Various roles | 15 years | Long-tenure foundational accounting experience |
| Calmare Therapeutics | Chief Financial Officer | May 2014–Jan 2016 | Interim financial leadership |
| GlyEco, Inc. | Chief Financial Officer | Feb 2016–Dec 2016 | Interim financial leadership |
| GlyEco, Inc. | President, CEO, Director | Dec 2016–Sep 2018 | Company leadership |
| Greyston Bakery & Foundation | Interim CFO | Nov 2018–Jul 2019 | Interim financial leadership |
| Roadway Moving & Storage | Interim CFO | Mar 2020–Dec 2020 | Interim financial leadership |
| TNF Pharmaceuticals | Interim CFO | Jan 29/Feb 1, 2021–present | Principal financial officer |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Brio Financial Group | Director | Since Jan 2021 | Advisory/finance services leadership |
| Renatus Therapeutics Acquisition Corp. (RTAC) | Chief Financial Officer | Since Mar 2025 | SPAC CFO role; broader capital markets exposure |
Fixed Compensation
| Metric ($USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary | $162,000 | $162,000 | $162,000 |
| Bonus | — | — | — |
| Stock Awards | — | — | — |
| Option Awards | — | — | — |
| All Other Compensation | — | — | — |
| Total Compensation | $162,000 | $162,000 | $162,000 |
Consulting fee structure: Brio received a $7,500 initial retainer and a fixed $13,500 monthly payment under the CFO Consulting Agreement; agreement expired June 30, 2021 but Rhodes continued as Interim CFO under the same terms thereafter .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| None disclosed for Ian Rhodes (no annual bonus plan, RSUs/PSUs, or options tied to performance) | — | — | — | — | — |
Equity Ownership & Alignment
- Outstanding equity awards: No options or RSUs outstanding for Ian Rhodes as of December 31, 2023 (table lists Ian Rhodes with no equity awards) .
- Insider selling pressure: Absence of equity awards and grants in 2022-2024 suggests minimal near-term vesting-related selling pressure .
- Stock ownership guidelines/pledging/hedging: No disclosures located for Ian Rhodes in available TNFA proxy/10-K excerpts; focus remains on consulting cash compensation .
Employment Terms
| Term | Detail |
|---|---|
| Agreement type | CFO Consulting Agreement with Brio Financial Group |
| Agreement date | July 21, 2020 (Brio engaged to provide Interim CFO); Rhodes appointed Interim CFO effective Jan 29, 2021 |
| Initial retainer | $7,500 paid to Brio |
| Monthly fee | $13,500 fixed monthly to Brio |
| Expense reimbursement | Travel and other out-of-pocket costs billed to the Company |
| Term/continuation | Agreement expired June 30, 2021; Rhodes continued as Interim CFO under same terms thereafter |
| Severance/change-of-control | No severance or change-of-control provisions described in the Consulting Agreement disclosure for Ian Rhodes |
Investment Implications
- Pay-for-performance alignment: Compensation delivered via fixed consulting fees with no variable pay, equity grants, or performance metrics (2022–2024); alignment to shareholder outcomes appears limited and may reduce incentive intensity for TSR/financial KPIs .
- Retention risk: The consulting arrangement (expired but continued under same terms) implies flexibility rather than a long-duration employment contract; absence of severance/change-of-control economics suggests lower exit costs but potentially higher turnover risk if engagement terms change .
- Insider selling pressure: With no outstanding equity awards and no recent stock/option grants, forced selling tied to vesting is unlikely, reducing event-driven selling risk around grant/vest dates .
- Execution and controls: Rhodes’ SOX 906 certification on the Q3 2024 10-Q indicates accountability for financial reporting compliance; while standard, it supports governance around financial statements during his tenure .