Anthony B. Semedo
About Anthony B. Semedo
Independent director of Artivion (AORT) since October 2021; age 73 as of the March 17, 2025 record date. He has over 40 years of U.S. and international medical device experience, including senior leadership roles at Medtronic (SVP/President APV Division; President Endovascular Innovations; President Japan Operations; Global VP Vascular R&D) and earlier roles at Alaris Medical Systems, Eli Lilly & Co., and Abbott Laboratories. He holds a B.S. in Engineering from the University of Massachusetts. The Board cites his extensive medical device leadership, including aortic technology expertise, as the rationale for his directorship.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Medtronic | Senior Vice President & President, Aortic, Peripheral & Venous (APV) Division; President, Endovascular Innovations; President, Japan Operations; Global Vice President, Vascular R&D | 2002–2019; Japan Ops until late 2019 | Led multiple business units and functions across global operations and aortic technologies |
| Alaris Medical Systems | Various roles | Not disclosed | Medical device operating experience |
| Eli Lilly & Co. | Various roles | Not disclosed | Healthcare/pharma operating experience |
| Abbott Laboratories | Various roles | Not disclosed | Medical device operating experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Not disclosed in proxy biography | — | — | No other public company directorships disclosed for Mr. Semedo in the 2025 proxy biography |
Board Governance
- Independence: The Board determined Mr. Semedo is independent under NYSE Listing Standards; he is also a non‑employee director under Rule 16b-3 for Compensation Committee service.
- Committee memberships (2024–2025): Member, Compensation Committee; Member, Innovation and Healthcare Compliance Committee. He did not serve on Audit or Corporate Governance committees, and holds no chair roles.
- Board and committee activity: In 2024 the Board met 12 times; each director attended at least 75% of Board and applicable committee meetings. Committees met: Audit (6), Compensation (8), Corporate Governance (5), Innovation & Healthcare Compliance (4), with joint sessions as noted.
- Lead Director structure: Independent Lead Director (Jeffrey H. Burbank) presides over executive sessions and approves agendas to support independent oversight.
- Risk oversight: Innovation & Healthcare Compliance Committee (of which Semedo is a member) oversees healthcare compliance and, with Audit, enterprise risk (including GDPR/FCPA), while Audit oversees information security and internal controls.
Fixed Compensation
- Structure: Non‑employee directors receive cash retainers for Board service ($55,000 in 2024), committee membership (Compensation $7,500; Innovation & Healthcare Compliance $5,000), and chair/lead director roles as applicable; retainers are paid monthly.
- Equity: Annual restricted stock grants under the 2020 ECIP; 2024 grant was $150,000 (6,289 shares) valued at $23.85 closing price on grant date.
Director compensation by year (Semedo):
| Metric | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|
| Retainers Earned or Paid in Cash ($) | $13,750 | $62,292 | $67,500 | $67,500 |
| Annual Stock Awards ($) | $86,661 | $150,000 | $150,004 | $149,993 |
| Total ($) | $100,411 | $212,292 | $217,504 | $217,493 |
Performance Compensation
- Design: Director equity grants are time‑based restricted stock (RSAs) with annual vesting; no performance‑based metrics (e.g., PSUs) are used for non‑employee director compensation.
Director equity grant details:
| Grant Year | Grant Date | Shares Granted (#) | Grant Date Fair Value ($/sh) | Vesting Date |
|---|---|---|---|---|
| 2023 | June 6, 2023 | 9,709 | $15.45 | June 6, 2024 |
| 2024 | May 30, 2024 | 6,289 | $23.85 | May 30, 2025 |
Other Directorships & Interlocks
- No other public company board service is disclosed in Semedo’s 2025 proxy biography.
- Compensation Committee interlocks: The company discloses no compensation committee interlocks involving its executive officers during 2023.
- Board service limits: Non‑employee directors may serve on no more than three other public company boards in addition to Artivion.
Expertise & Qualifications
- Deep medical device and aortic technology leadership across R&D, endovascular innovations, and global operations (including Japan).
- Strategic planning and complex global organizational experience relevant to Artivion’s innovation and compliance oversight.
Equity Ownership
- Beneficial ownership: 36,259 shares as of March 17, 2025, including 600 shares indirectly owned through spouse; ownership represents less than 1% of shares outstanding (42,689,303). Includes 6,289 unvested restricted shares granted May 30, 2024. None of the shares are subject to a pledge.
- Prior year reference: 37,579 shares as of March 18, 2024, including 9,709 unvested restricted shares granted June 6, 2023; ownership represented less than 1% with shares outstanding of 41,709,778.
| Date | Beneficially Owned (#) | Indirect Ownership Notes | Unvested Restricted Shares Included (#) | % of Shares Outstanding | Shares Outstanding (#) | Pledged? |
|---|---|---|---|---|---|---|
| Mar 18, 2024 | 37,579 | Not disclosed | 9,709 | <1% | 41,709,778 | None pledged |
| Mar 17, 2025 | 36,259 | 600 via spouse | 6,289 | <1% | 42,689,303 | None pledged |
Governance Assessment
- Strengths: Independent status; active service on Compensation and Innovation & Healthcare Compliance committees; robust director stock ownership requirement (5x annual retainer) with all non‑employee directors in compliance; transparent, modest cash retainers paired with time‑based equity; no pledging and no related‑party transactions disclosed involving Semedo; strong committee oversight of risk, information security, and healthcare compliance.
- Pay‑for‑performance alignment (context): While director pay is time‑based, the Compensation Committee’s executive program emphasizes revenue growth (constant currency) and adjusted EBITDA, supported by an independent consultant (Willis Towers Watson), signaling disciplined performance culture overseen in part by Semedo’s committee.
- RED FLAGS: None observed—no pledging, no option repricing (prohibited under ECIP), no disclosed related‑party transactions for Semedo, and directors’ attendance met at least the 75% threshold.
Implications for investor confidence: Semedo brings directly relevant aortic and endovascular leadership experience and global operating credentials to two oversight‑intensive committees, with independent status and ownership alignment. The straightforward director pay structure and compliance with ownership guidelines, combined with risk and compliance oversight responsibilities, support Board effectiveness with low apparent conflict risk.