Sunshine Biopharma Inc
For the period ended Dec 31, 2023. Filed Mar 28, 2024.
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FY2023 · Filed Mar 28, 2024
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Item 11. Executive Compensation
The following table sets forth compensation information for services rendered by our executive officers in all capacities during the last two completed fiscal years.
| Name and Principal Position · Year · Salary ($) · Bonus ($) · Stock Awards ($) · All Other Compen- sation ($) · Total ($) | |||||||
|---|---|---|---|---|---|---|---|
| Dr. Steve N. Slilaty | 2022 | 360,000 | (1) | 10,000 | – | – | 370,000 |
| Chief Executive Officer and Director | 2023 | 378,000 | 182,000 | – | 560,000 | ||
| Camille Sebaaly | 2022 | 300,000 | 630,000 | – | – | 930,000 | |
| Chief Financial Officer | 2023 | 315,000 | 380,000 | – | 695,000 | ||
| Dr. Abderrazzak Merzouki | 2022 | 240,000 | 245,000 | – | – | 485,000 | |
| Chief Operating Officer and Director | 2023 | 252,000 | 8,000 | – | 260,000 | ||
| (1) | Of this amount, $60,000 was paid to Advanomics Corporation, a company controlled by Dr. Slilaty. |
Employment Agreements
On April 8, 2022, we entered into an employment agreement with Dr. Steve N. Slilaty, our Chief Executive Officer. Pursuant to the employment agreement, Dr. Slilaty will continue to serve as our CEO and will be paid a base annual salary of $360,000 (which will increase annually at the rate of the Consumer Price Index or 5%, whichever is higher). The employment agreement has a term of four years and will renew automatically for a term of an additional three years. In the event the employment agreement is terminated by us without cause, we will pay Dr. Slilaty $10 million. Upon expiration of the employment agreement, we will pay Dr. Slilaty $2 million.
Outstanding Equity Awards at 2023 Fiscal Year-End
We did not have any outstanding equity awards as of December 31, 2023.
Director Compensation
The following table sets forth compensation we paid to our directors during the year ended December 31, 2023.
| Name | Fees Paid in Cash ($) | Stock Awards | Option Awards | All Other Compensation | Total ($) |
|---|---|---|---|---|---|
| Dr. Rabi Kiderchah | 80,000 | – | – | – | 80,000 |
| Mr. David Natan | 80,000 | – | – | – | 80,000 |
| Dr. Abderrazzak Merzouki | 80,000 | – | – | – | 80,000 |
| Dr. Andrew Keller | 80,000 | – | – | – | 80,000 |
| Dr. Steve N. Slilaty | 80,000 | – | – | – | 80,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.