Stavros Vizirgianakis
About Stavros Vizirgianakis
Stavros Vizirgianakis, age 54, is an independent director and non-executive Chairperson of the Board at Apyx Medical since May 7, 2024. He is a career medical device operator and investor, former CEO of Misonix (2016–2021), with prior leadership at Ascendis Health, Tyco Healthcare, and United States Surgical; he holds a Commerce degree from the University of South Africa . He currently serves on several healthcare company boards and is considered “independent” under Nasdaq/SEC rules; Apyx’s board held 10 meetings in 2024 with 100% director attendance .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Misonix, Inc. | Chief Executive Officer | 2016–2021 (company acquired by Bioventus in 2021) | Led company through sale; med-tech operating expertise |
| Ascendis Health Ltd. (Medical Devices) | Managing Director | 2014–2016 | Regional portfolio leadership; distribution strategy |
| Surgical Innovations (Africa) | Co-founder | Not disclosed | Built one of largest private med device distributors in African region |
| United States Surgical Corporation | Director of Sales, Sub-Saharan Africa | Not disclosed | Commercial leadership in surgical devices |
| Tyco Healthcare (South Africa) | General Manager | Not disclosed | Country-level P&L and operations |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Tally Surgical, Inc. | Director | Current | Private healthcare company board |
| Theragenics Corporation | Director | Current | Healthcare company board |
| Xtant Medical Holdings, Inc. (NYSE American: XTNT) | Director | Current | Public med device board; potential interlock with sector peers |
| Medinotec, Inc. (OTCQX: MDNC) | Director | Current | Public med device board |
| Bioventus Inc. (Nasdaq: BVS) | Director | Prior | Prior public company board |
| Tenaxis Medical | Director | Prior | Prior med device board |
Board Governance
- Independence: Vizirgianakis is one of four independent directors (with Waldman, Baylor-Henry, Levine) .
- Board leadership: Appointed non-executive Chair May 7, 2024; CEO remains separate (Goodwin) .
- Executive sessions: Independent director executive sessions are a standing agenda item; held with/without CEO at regularly scheduled meetings .
- Attendance: Board met 10 times in 2024; all directors attended 100% of Board and committee meetings .
| 2024 Committees | Role | Meetings in 2024 |
|---|---|---|
| Board | Chair | 10 |
| Audit | Member | 6 |
| Governance & Nominating | Chair | 1 |
| Compensation | Member | 2 |
| Regulatory Compliance | Member | 3 |
Lead Independent Director: Lawrence J. Waldman (also Audit Chair and Audit Committee “financial expert”) .
Fixed Compensation
| Year | Fees Earned/Paid in Cash ($) | Stock Awards ($) | Option Awards ($, grant date fair value) | Total ($) |
|---|---|---|---|---|
| 2024 | 27,116 | — | 13,581 | 40,697 |
- Standard director cash framework (approved Mar 15, 2022): base annual fee $40,000; Chair add’l $30,000; Vice Chair $27,500; Lead Independent $15,000; Audit Chair $46,000; Audit Member $7,500; Compensation Chair $10,000; Compensation Member $5,000; Governance & Nominating Chair $5,000; Governance Member $2,500; Regulatory Compliance Chair $20,000; Regulatory Member $5,000 .
- Modifications approved Dec 17, 2024 (effective Oct 1, 2024) to preserve cash: maintained certain chair cash fees and increased equity grants (see Performance Compensation) .
Performance Compensation
| Program Element | Terms | Notes |
|---|---|---|
| Annual Stock Option Grant (Policy Mar 15, 2022) | 17,000 options granted on date of annual meeting; exercise price = closing price; vests ratably over 1 year | Applies to non-employee directors; no RSUs/PSUs disclosed |
| Modified Equity Program (Dec 17, 2024) | 50,000 options per non-employee director; exercise price = closing price; vests ratably over 1 year | Effective Oct 1, 2024; aimed at cash preservation and alignment |
| Option Pricing Changes | None | “No changes in the pricing of any options previously or currently awarded” (i.e., no repricing) |
Performance metric linkage: No director performance-based metrics (TSR, revenue, ESG) disclosed; director equity is time-vested options only .
Other Directorships & Interlocks
| Company | Exchange/Ticker | Role | Potential Overlap with APYX |
|---|---|---|---|
| Xtant Medical Holdings, Inc. | NYSE American: XTNT | Director | Industry adjacency (medical devices); no APYX related-party transactions disclosed involving Vizirgianakis |
| Medinotec, Inc. | OTCQX: MDNC | Director | Industry adjacency; no APYX related-party transactions disclosed involving Vizirgianakis |
| Tally Surgical; Theragenics | Private | Director | Sector network; no APYX related-party transactions disclosed involving Vizirgianakis |
- Related-party transactions: Proxy outlines policy and lists related parties in Bulgaria subsidiary; no transactions identified involving Vizirgianakis .
Expertise & Qualifications
- Skills matrix highlights: Public company board experience; financial and risk management; corporate governance/ethics; executive experience; operations; strategic planning; medical device industry .
- Education: Degree in Commerce, University of South Africa .
- Track record: Prior CEO of Misonix through sale to Bioventus; broad med-device operator/investor experience .
Equity Ownership
| Metric | As of Jun 20, 2024 | As of Jun 23, 2025 |
|---|---|---|
| Shares Beneficially Owned | 1,746,191 | 1,827,909 |
| Vested Options (exercisable within 60 days) | 0 | 81,718 |
| % of Outstanding Shares | 5.0% (base 34,643,926 shares) | 4.8% (base 37,793,886 shares) |
Footnote details confirm composition of ownership (shares vs vested options) for each date .
Governance Assessment
- Board effectiveness: Chair since May 2024 with robust committee engagement (Governance Chair; Audit/Comp/Compliance member); 100% attendance and regular executive sessions strengthen oversight .
- Independence and alignment: Classified as independent; meaningful personal stake (≥1.8M shares plus vested options), supportive of “skin-in-the-game” .
- Compensation structure signals: 2024 shift to larger equity grants (50,000 options) to preserve cash indicates alignment but increases dilution risk; no option repricing disclosed (positive governance signal) .
- Shareholder support: Strong 2025 vote outcomes—re-elected director and Say-on-Pay approval (Proposal 3 support: 18,963,101 for vs 182,700 against; abstain 105,346) .
- Conflicts/related parties: No related-party transactions disclosed involving Vizirgianakis; multiple external med-tech boards warrant monitoring for potential interlocks but no issues reported .
Red Flags (none disclosed):
- No legal proceedings involving nominees over past ten years .
- No hedging/pledging language identified for Vizirgianakis in ownership footnotes; no option repricing .
Watch items:
- Expanded director option grants (50,000) increase option overhang; monitor annual equity usage and dilution versus performance .
- External public boards (XTNT, MDNC) in same sector—monitor for any future related-party transactions or competitive overlaps .