Niki BioSolutions, Inc. has announced the appointment of Thomas Freeburg as the company's Chief Financial Officer. The appointment is effective September 1, 2026, and the term is set for two years, at the discretion of the Board of Directors.
Mr. Freeburg, age 59, brings significant financial experience to the role. His prior experience includes serving as Managing Member of Cambridge Accounting Group, LLC from 2014 to 2017 and again from April 2023 to August 2026. Previously, he served as Chief Financial Officer, Secretary, and Treasurer at Interpace Biosciences, Inc. (NASDAQ: IDXG) from February 2021 through March 2023, and as Chief Accounting Officer at the same company from October 2017 through January 2021. Earlier in his career, he held roles at Coach, Inc. (NYSE: TPR) and Scholastic Corporation (NASDAQ: SCHL).
Under the terms of the Employment Agreement, Mr. Freeburg will receive an annual base salary of $250,000, which is payable monthly. However, $25,000 of this salary is deferred until the company receives specific funding. Upon the receipt of additional funding, his base salary will increase to $275,000. He is also eligible for an annual bonus of up to 50% of his base salary. Additionally, he will receive 50,000 stock options with an exercise price of $8.83 per share, subject to a vesting schedule.
The agreement allows either party to terminate the arrangement with 45 days' notice. The company retains the right to remove Mr. Freeburg at any time for cause. The filing indicates that there are no family relationships between Mr. Freeburg and the company's directors or officers.
