CorMedix Management

Management criteria checks 2/4

CorMedix's CEO is Joe Todisco, appointed in May 2022, has a tenure of 2.5 years. total yearly compensation is $2.46M, comprised of 25.1% salary and 74.9% bonuses, including company stock and options. directly owns 0.3% of the company’s shares, worth €1.74M. The average tenure of the management team and the board of directors is 2.5 years and 2.7 years respectively.

Key information

Joe Todisco

Chief executive officer

US$2.5m

Total compensation

CEO salary percentage	25.1%
CEO tenure	2.5yrs
CEO ownership	0.3%
Management average tenure	2.5yrs
Board average tenure	2.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Joe Todisco's remuneration changed compared to CorMedix's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	-US$46m
Jun 30 2024	n/a	n/a	-US$53m
Mar 31 2024	n/a	n/a	-US$50m
Dec 31 2023	US$2m	US$617k	-US$46m
Sep 30 2023	n/a	n/a	-US$40m
Jun 30 2023	n/a	n/a	-US$37m
Mar 31 2023	n/a	n/a	-US$33m
Dec 31 2022	US$3m	US$378k	-US$30m

Compensation vs Market: Joe's total compensation ($USD2.46M) is above average for companies of similar size in the German market ($USD1.48M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.

CEO

Joe Todisco (48 yo)

2.5yrs

Tenure

US$2,459,432

Compensation

Mr. Joseph Todisco, also known as Joe, MBA, serves as Chief Executive Officer of CorMedix Inc. since May 10, 2022. He has served as Director of CorMedix Inc. since March 18, 2022 and served as its Independ...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Joseph Todisco	CEO & Director	2.5yrs	US$2.46m	0.30% € 1.7m
Matthew David	Executive VP & CFO	4.5yrs	US$1.03m	0.017% € 98.7k
Erin Mistry	Executive VP & Chief Commercial Officer	4.7yrs	US$1.26m	0.021% € 123.0k
Elizabeth Masson-Hurlburt	Executive VP and Chief Clinical Strategy & Operations Officer	less than a year	US$844.81k	0.013% € 74.6k
Kaufman Zelnick	Executive VP	less than a year	no data	no data
Donna Ucci	Senior VP & Head of Global Quality	2.5yrs	no data	no data
Tushar Mukherjee	Senior VP & Head of Technical Operations	1.8yrs	no data	no data

2.5yrs

Average Tenure

47yo

Average Age

Experienced Management: 19KA's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Joseph Todisco	CEO & Director	2.7yrs	US$2.46m	0.30% € 1.7m
Myron Kaplan	Independent Chairman of the Board	8.6yrs	US$191.96k	0.30% € 1.7m
Alan Dunton	Independent Director	5.7yrs	US$141.42k	0.025% € 144.2k
Janet Dillione	Independent Director	9.3yrs	US$147.42k	0.088% € 505.7k
Steven Lefkowitz	Independent Director	7.4yrs	US$162.42k	0.13% € 732.8k
Gregory Duncan	Independent Director	4yrs	US$141.42k	0% € 0
Bruce Polsky	Member of Scientific Advisor Board	no data	no data	no data
Saravanan Balamuthusamy	Member of Scientific Advisory Board	2.6yrs	no data	no data
Sara Bonnes	Member of Scientific Advisory Board	2.6yrs	no data	no data
Aru Narendran	Member of Scientific Advisory Board	2.6yrs	no data	no data
Hannah Newman	Member of Scientific Advisory Board	2.6yrs	no data	no data
Jonathan Waitman	Member of Scientific Advisory Board	2.6yrs	no data	no data

2.7yrs

Average Tenure

68yo

Average Age

Experienced Board: 19KA's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.

CorMedix Management

Management criteria checks 2/4

Key information

Recent management updates

CorMedix Inc., Annual General Meeting, Nov 21, 2024

High number of new and inexperienced directors

CorMedix Inc. Approves the Separation of Employment of Phoebe Mounts

CorMedix Inc. Announces the Appointment of Beth Zelnick Kaufman, Esq. as Executive Vice President, Chief Legal Officer, and Corporate Secretary, Effective December 12, 2023

CorMedix Inc., Annual General Meeting, Oct 26, 2023

Cormedix Inc. Announces Resignation of Paulo F. Costa as Member of the Board of Directors, Effective as of October 15, 2023

Recent updates

New minor risk - Profitability

CorMedix Inc. to Report Q3, 2024 Results on Oct 30, 2024

New minor risk - Shareholder dilution

CorMedix Inc., Annual General Meeting, Nov 21, 2024

New minor risk - Financial position

Forecast breakeven date moved forward to 2025

CorMedix Inc. to Report Q2, 2024 Results on Aug 14, 2024

High number of new and inexperienced directors

CorMedix Inc. has filed a Follow-on Equity Offering in the amount of $50 million.

CorMedix Inc. to Report Q1, 2024 Results on May 09, 2024

CorMedix Inc. Announces U.S. Inpatient Commercial Availability of DefenCath®? (Taurolidine and Heparin)

New major risk - Share price stability

Forecast breakeven date moved forward to 2025

CorMedix Inc. to Report Q4, 2023 Results on Mar 12, 2024

CorMedix Inc. Updates Related to Its Business and Anticipated Launch of DefenCath

Cormedix Inc. Announces Commercial and Operational Updates

Forecast to breakeven in 2026

CorMedix Inc. Approves the Separation of Employment of Phoebe Mounts

CorMedix Inc. Announces the Appointment of Beth Zelnick Kaufman, Esq. as Executive Vice President, Chief Legal Officer, and Corporate Secretary, Effective December 12, 2023

CorMedix Inc. Announces FDA Approval of DefenCath(R) to Reduce the Incidence of Catheter Related Bloodstream Infections in Adult Hemodialysis Patients

Third quarter 2023 earnings released: US$0.17 loss per share (vs US$0.17 loss in 3Q 2022)

CorMedix Inc. to Report Q3, 2023 Results on Nov 14, 2023

CorMedix Inc., Annual General Meeting, Oct 26, 2023

Cormedix Inc. Announces Resignation of Paulo F. Costa as Member of the Board of Directors, Effective as of October 15, 2023

First half 2023 earnings released: US$0.49 loss per share (vs US$0.38 loss in 1H 2022)

CorMedix Inc. to Report Q2, 2023 Results on Aug 08, 2023

CorMedix Inc. Announces FDA Acceptance of Resubmission of New Drug Application for DefenCath

Cormedix Inc. Announces Resubmission of New Drug Application for Defencath

First quarter 2023 earnings released: US$0.24 loss per share (vs US$0.18 loss in 1Q 2022)

CorMedix Inc. to Report Q1, 2023 Results on May 15, 2023

Full year 2022 earnings released: US$0.74 loss per share (vs US$0.75 loss in FY 2021)

Cormedix Inc. Announces Promotions in Commercial and Tech Ops

CEO & Director recently bought €74k worth of stock

High number of new and inexperienced directors

Third quarter 2022 earnings released: US$0.17 loss per share (vs US$0.23 loss in 3Q 2021)

CorMedix Inc. to Report Q3, 2022 Results on Nov 10, 2022

CorMedix Inc. Announces Abstract Presentation at Upcoming American Society of Nephrology Conference

CorMedix Inc., Annual General Meeting, Oct 13, 2022

Second quarter 2022 earnings released: US$0.19 loss per share (vs US$0.12 loss in 2Q 2021)

CorMedix Inc. Announces Regulatory and Manufacturing Updates

CorMedix Inc. to Report Q2, 2022 Results on Aug 11, 2022

CorMedix Inc.(NasdaqGM:CRMD) dropped from Russell 2000 Dynamic Index

High number of new and inexperienced directors

First quarter 2022 earnings released: US$0.18 loss per share (vs US$0.20 loss in 1Q 2021)

CorMedix Inc. Announces Executive Changes

CorMedix Inc. to Report Q1, 2022 Results on May 12, 2022

High number of new and inexperienced directors

No longer forecast to breakeven

CorMedix Inc. Announces Formation of New Scientific Advisory Board

No longer forecast to breakeven

CorMedix Inc. Announces FDA Acceptance of Resubmission of New Drug Application for DefenCath

Cormedix Inc. Resubmits the New Drug Application for DefenCath to Address the Complete Response Letter Issued by the U.S. Food and Drug Administration

Third quarter 2021 earnings released: US$0.23 loss per share (vs US$0.22 loss in 3Q 2020)

CEO & Director Khoso Baluch has left the company

Executive Vice President for Technical Operations John Armstrong has left the company

Pomerantz Law Firm Announces the Filing of A Class Action Against CorMedix Inc. and Certain Officers

Second quarter 2021 earnings released: US$0.12 loss per share (vs US$0.14 loss in 2Q 2020)

Pomerantz Law Firm Announces the Filing of a Class Action Against CorMedix Inc. and Certain Officers - CRMD

Independent Chairman of the Board recently bought €74k worth of stock

First quarter 2021 earnings released: US$0.20 loss per share (vs US$0.21 loss in 1Q 2020)

Forecast to breakeven in 2022

Full year 2020 earnings released: US$0.77 loss per share (vs US$1.80 loss in FY 2019)

CorMedix Receives Complete Response Letter From FDA for DefenCath™ Catheter Lock Solution

New 90-day high: €14.70

New 90-day high: €10.50

CorMedix Inc. Announces FDA Decision That Advisory Committee Meeting for New Drug Application for Defencath is Not Needed

New 90-day high: €6.05

Revenue beats expectations

Third quarter 2020 earnings released: US$0.22 loss per share