Lawrence Weiss
About Lawrence Weiss
Senior Vice President, Chief Legal Officer and Corporate Secretary at AngioDynamics (ANGO); appointed in December 2024 and serves as Corporate Secretary to the Board . Weiss is a named executive officer (NEO) for FY 2025, with compensation aligned to ANGO’s revenue, EBITDA and strategic milestones under its Med Tech transformation . During his tenure start, ANGO’s GAAP revenue was $292.5M (FY 2025) vs $303.9M (FY 2024), gross margin rose to 53.9% (from 50.9%), and net loss narrowed to $34.0M (from $184.3M); TSR measured as a $100 investment declined to $44.12 in FY 2025 from $61.80 in FY 2024 . Education and age are not disclosed in the company’s DEF 14A filings.
Fixed Compensation
| Item | FY 2024 | FY 2025 |
|---|---|---|
| Base Salary ($) | — | $430,000 (hired Dec 2024) |
| Target Bonus (% of Base) | — | 60% |
| Actual Bonus (% of Base) | — | 45% (75% of target; prorated for hire) |
| Actual Bonus ($) | — | $193,500 |
| All Other Compensation ($) | — | $6,923 (car allowance) |
Performance Compensation
Annual Incentive (FY 2025)
| Metric | Weighting | Target | Actual | Payout note |
|---|---|---|---|---|
| Net Sales | 50% | $288.2M (pro forma) | $292.5M | Achieved 102% → 60% payout |
| Adjusted EBITDA | 30% | $1.2M | $4.2M | Achieved 633% → 60% payout |
| Corporate Objectives | 20% | Qualitative (AlphaVac PE release; NanoKnife prostate launch plan; international commercialization; Project Re-Wire) | Achieved target expectations | Committee awarded 150% → 30% payout |
Long-Term Incentives (FY 2025 grants)
| Award Type | Grant Date | Shares/Options | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| RSUs | Dec 2, 2024 | 52,697 | $376,257 | Equal ratable vesting over 4 years (each anniversary of grant) |
| Stock Options | Dec 2, 2024 | 103,650 @ $7.14 strike | $386,656 | 25% on each of the first four anniversaries; 10-year term |
| PSUs (FY 2025 cycle) | — | — | — | Did not receive due to hire date |
Performance Share program design (for FY 2025 PSU cycle): 100% based on cumulative revenue over 3 years with a relative TSR modifier up/down 20% at peer-group 75th/25th percentiles; payout range 0–240% of target .
Equity Ownership & Alignment
| Ownership and Awards | Amount | Notes |
|---|---|---|
| Common Shares Owned | 1,113 | Beneficial ownership as of Sept 18, 2025; “less than 1%” |
| RSUs (unvested at 5/31/2025) | 52,697 | Grant 12/2/2024; market value $537,509 at $10.20 close |
| Options Unexercisable (5/31/2025) | 103,650 | Strike $7.14; expires 12/2/2034 |
| Options In-the-Money Value (accelerated scenario) | $317,169 | Based on $10.20 share price for CIC table |
| Hedging/Pledging | Prohibited | Company policy bans hedging, margin, and pledging; no pledges disclosed |
| Stock Ownership Guidelines | 1x base salary (SVPs) | Executives must hold Net Shares until compliance; company states NEOs are in compliance |
Vesting schedules (from plan terms): RSUs vest equally over four years from 12/2/2024; options vest 25% annually over four years with a 10-year term .
Employment Terms
| Provision | Term |
|---|---|
| Start Date | December 2024 |
| Severance (SVP; non-CIC) | 12 months base salary; 12 months health benefits under Senior Executive Severance Guidelines |
| Change-in-Control (CIC) | Double-trigger; 1.5x base + target bonus; prior-year bonus; prorated current-year bonus; 18 months benefits; full equity vesting at target |
| CIC Estimated Payments (as of 5/31/2025) | Total $2,080,178 comprised of: $1,032,000 severance; $193,500 prorated bonus; $317,169 options acceleration; $537,509 RSU/PSU vesting; $0 other |
| Clawback | Company policies and plans allow recoupment; SEC-compliant restatement recovery adopted |
| Tax Gross-Ups | None; “best-after-tax” cutback to avoid 4999 excise tax |
| Deferred Compensation | None; no non-qualified deferred plan |
| Perquisites | Automobile allowance ($1,200/month for executives; $1,500/month for CEO) |
Performance & Track Record (Company metrics during Weiss’s tenure start)
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| GAAP Revenue ($M) | $303.9 | $292.5 |
| Gross Margin (%) | 50.9% | 53.9% |
| Net Income (Loss) ($M) | $(184.3) | $(34.0) |
| Pro Forma Revenue Growth (%) | +5.3% | +8.1% |
| Med Tech Revenue Growth (%) | +10.0% | +19.0% |
| TSR (value of $100 since 5/31/2020) | $61.80 | $44.12 |
Company achievements in FY 2025 include CE mark for Auryon, CPT Category I IRE codes timing, NanoKnife clearance for prostate tissue ablation, APEX-AV publication, and initiation of multiple clinical trials supporting Med Tech growth .
Compensation Structure Analysis
- Shift toward performance orientation: ANGO designs LTIs with 50% PSUs measured on 3-year revenue and a relative TSR modifier; options and RSUs provide balance of performance and retention .
- Annual incentives include both quantitative (Net Sales, Adjusted EBITDA) and qualitative strategic execution goals (AlphaVac PE, NanoKnife launch plan, international commercialization, manufacturing outsourcing) .
- Robust governance features: independent consultant (Meridian), clawbacks, ownership guidelines, no option repricing, double-trigger CIC, and banned hedging/pledging .
Say-on-Pay & Shareholder Feedback
- FY 2024 say-on-pay approval: 91.9% of votes cast, indicating strong shareholder support for NEO compensation design .
Investment Implications
- Retention risk appears low near term: Dec 2024 hire with multi-year RSU and option vesting schedules and double-trigger CIC protection; absence of tax gross-ups and strong clawbacks reduce governance risk .
- Alignment: Ownership guidelines and performance-conditioned PSUs (for future cycles) align interests with revenue growth and relative TSR; hedging/pledging prohibited .
- Monitor insider activity and vesting cadence: Upcoming annual RSU and option vesting dates beginning 12/2/2025 may create periodic supply; track any Form 4 sales to assess selling pressure. Equity acceleration values indicate significant CIC sensitivity ($2.08M total) which may influence retention during strategic events .