Paul Kim
About Paul Kim
Paul Kim, 57, is an independent Class II director at Exagen Inc. (XGN) who has served on the board since July 2023; he is designated an Audit Committee financial expert based on his CPA and extensive finance background . He is currently CFO of Fulgent Genetics (NASDAQ: FLGT) and previously held CFO and senior finance roles across public tech and life sciences companies; he holds a B.A. in economics from UC Berkeley and is a Certified Public Accountant . During 2024, each director attended at least 75% of Board and committee meetings; the Board held five meetings that year .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fulgent Genetics (FLGT) | Chief Financial Officer | Feb 2016–present | Public company CFO; finance, controls, capital markets |
| Cogent Biosciences (COGT) | Chief Financial Officer | 2004–2011 | Public company CFO; reporting, finance |
| JNI Corporation (JNIC) | Chief Financial Officer | 2002–2003 | Public company CFO; tech sector |
| JNI Corporation (JNIC) | VP Finance & Corporate Controller | Oct 1999–Aug 2002 | Financial reporting, controls |
| Datafusion Inc. | VP Finance & Administration | 1998–1999 | Private software company finance ops |
| Interlink Computer Sciences | Corporate Controller | 1996–1998 | Public enterprise software; controls |
| Coopers & Lybrand | Accountant → Audit Manager | 1990–1996 | Audit, accounting rigor (CPA) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Fulgent Genetics (FLGT) | Chief Financial Officer | Feb 2016–present | External executive role; potential industry adjacency (genetic testing) |
Board Governance
- Committees: Audit (member), Compensation (member) .
- Financial expert: Designated “audit committee financial expert” by the Board .
- Independence: Board determined Paul Kim is independent under Nasdaq and SEC rules .
- Attendance: All directors attended ≥75% of Board and committee meetings in FY2024; Board met five times; Audit met four times; Compensation met once .
- Executive sessions and leadership: Board led by Executive Chairman; CEO and Chair roles separated .
| Governance Item | Detail |
|---|---|
| Board Class | Class II; term to expire at 2027 Annual Meeting |
| Committees | Audit (member) ; Compensation (member) |
| Chair roles | None (member-level) |
| Independence | Independent director |
| Financial Expert | Yes (Audit Committee financial expert) |
| Attendance FY2024 | ≥75% of Board and committee meetings |
| Meeting counts FY2024 | Board: 5 ; Audit: 4 ; Compensation: 1 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Non-employee director annual cash retainer | $50,000 | Paid quarterly in arrears |
| Audit Committee member retainer | $7,500 | Incremental to Board retainer |
| Compensation Committee member retainer | $7,500 | Incremental to Board retainer |
| Total cash fees earned (2024, Paul Kim) | $65,000 | Reflects Board + Audit + Compensation membership |
Performance Compensation
- Equity structure: Annual stock option grants to non-employee directors; typical annual grant is 9,000 options vesting in full by the next annual meeting or one-year anniversary; new directors may receive 15,000 options vesting monthly over 36 months .
- 2024 awards (Paul Kim): Option awards grant-date fair value $17,910; outstanding options 24,000 as of 12/31/2024 .
- Performance metrics: None tied to director equity; director options are time-vested (no revenue/EBITDA/TSR conditions disclosed) .
| Award Type | Grant Year | Quantity | Vesting | Grant-Date Fair Value ($) |
|---|---|---|---|---|
| Stock options (annual director grant) | 2024 | 9,000 typical; Paul’s option awards were granted with $17,910 fair value | Annual grant vests fully by next annual meeting or one-year anniversary | $17,910 (Paul Kim, 2024) |
| Outstanding options (balance) | As of 12/31/2024 | 24,000 | Various director grant schedules | N/A |
Other Directorships & Interlocks
| Entity | Role | Public Board? | Interlock/Conflict Considerations |
|---|---|---|---|
| Fulgent Genetics (FLGT) | CFO | No board role disclosed | Same sector adjacency (genetic testing) but no related-party transactions disclosed at Exagen |
Expertise & Qualifications
- CPA and audit background (Coopers & Lybrand; Audit Manager), enabling Audit Committee financial expertise designation .
- Deep public company CFO experience across diagnostics, technology, and life sciences (FLGT, COGT, JNIC), with capital markets and financial controls exposure .
- Education: B.A. in economics, UC Berkeley .
Equity Ownership
| Category | Amount | Detail |
|---|---|---|
| Total beneficial ownership | 18,166 shares (<1%) | Less than 1% of outstanding, based on 18,002,329 shares |
| Shares owned directly | 8,333 | Direct holdings |
| Options exercisable within 60 days | 9,833 | Included in beneficial ownership calculation |
| Total outstanding director options | 24,000 (as of 12/31/2024) | Not all exercisable within 60 days |
| Pledged/Hedged shares | None disclosed; hedging prohibited by policy |
Insider Trades
| Item | Status |
|---|---|
| Section 16(a) compliance (FY2024) | No delinquent filings disclosed for Paul Kim; late filings were noted for Scott D. Kahn and NMSIC, not Paul Kim |
| Form 4 transactions (detail) | Not detailed in proxy; no exceptions noted for Paul Kim |
Governance Assessment
- Positives: Independent director and Audit Committee financial expert; active on Audit and Compensation committees; attendance at least 75%; no related-party transactions; hedging prohibited; sensible director pay structure (cash retainer plus modest time-vested options) .
- Alignment: Beneficial ownership exists via direct shares and exercisable options, though the stake is small (<1%); annual option grants create at-risk, equity-based exposure over time .
- Potential watchpoints: External CFO role at Fulgent Genetics in a related diagnostics field could present future conflicts if commercial relationships emerge, though none are disclosed; time commitments should continue to be monitored given dual responsibilities .
- Overall: Governance signals support investor confidence—independence, financial oversight capability, and no conflict flags—balanced against modest personal share ownership typical for small-cap director programs .