David Demski
Alphatec HoldingsAbout David Demski
David Demski (age 67) has served on Alphatec Holdings, Inc.’s Board since October 2023. He is a former CEO, President, President/COO, CFO, and director of Globus Medical (2003–Apr 2022) and brings >20 years of medtech operating, finance, and strategic experience; prior roles span founding Cornerstone Capital LBO Fund, VC (Gilo Ventures), COO (Rendall & Associates), international distribution (Domino’s), and audit (Peat, Marwick, Mitchell & Co.). He holds a B.S. in Business Administration from the University of Michigan and an MBA from Stanford GSB; current external board service includes Paragon 28 (NYSE: FNA), and he served on Axonics’ board until its sale to Boston Scientific in Nov 2024.
Past Roles
| Organization | Role | Tenure | Notes/Impact |
|---|---|---|---|
| Globus Medical | Director | 2003–Apr 2022 | Long-term board tenure in spine-focused medtech. |
| Globus Medical | Chief Executive Officer | Aug 2017–Apr 2022 | Led company as CEO; concurrently President Apr 2019–Apr 2022. |
| Globus Medical | President; President & COO | 2008–2015 | Senior operating leadership. |
| Globus Medical | Chief Financial Officer | 2003–2008 | Finance leadership. |
| Globus Medical | President, Emerging Technologies | 2015–2017 | Innovation/portfolio oversight. |
| Cornerstone Capital LBO Fund | Founder | Prior to Globus | Boutique leveraged buyout consultancy. |
| Gilo Ventures | Vice President | Prior to Globus | VC investing experience. |
| Rendall & Associates | Chief Operating Officer | Prior to Globus | Telecom-focused consulting COO. |
| Domino’s Pizza | Regional/International Distribution Management | Late 1980s | Scaled distribution during growth period. |
| Peat, Marwick, Mitchell & Co. | Audit Supervisor | Early career | Accounting/audit credentials. |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Paragon 28 (NYSE: FNA) | Director | Current | Foot & ankle orthopedic focus. |
| Axonics (Nasdaq: AXNX) | Director | Jan 2021–Nov 2024 | Service concluded upon sale to Boston Scientific. |
| Globus Medical | Director | 2003–Apr 2022 | Industry leadership experience. |
Education: B.S., University of Michigan; MBA, Stanford Graduate School of Business.
Board Governance
- Committee assignments: Demski is not listed as a member of the Audit, Compensation, or Nominating & Corporate Governance committees in the 2025 proxy roster.
- Independence: The Board determined Demski was independent under Nasdaq listing requirements in the 2024 proxy.
- Attendance: In 2024, no director attended fewer than 100% of Board and applicable committee meetings; Board met 5x, Audit 4x, Nominating 3x, Compensation 3x.
- Lead Independent Director: Mortimer Berkowitz III (Chair of Nominating) serves as Lead Director.
Fixed Compensation
- Director compensation framework: Non-employee directors receive an Initial Board Grant ($300,000 RSUs, time-based, vests over 3 years) and an Annual Board Grant ($150,000 RSUs, time-based, typically vests by next annual meeting); cash retainers apply per role.
| Retainers (Annual) | Member ($) | Chair/Lead ($) |
|---|---|---|
| Board of Directors | 45,000 | 75,000 |
| Audit Committee | 10,000 | 20,000 |
| Compensation Committee | 7,500 | 15,000 |
| Nominating & Corporate Governance | 5,000 | 10,000 |
| 2024 Director Compensation (Demski) | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 44,293 |
| Stock Awards (grant date fair value) | 1,292,302 |
| Total | 1,336,595 |
- YoY context: 2023 total director compensation for Demski was $374,623 (stock awards; no cash reported), reflecting appointment timing and initial grant structure.
Performance Compensation
- Structure: Alphatec does not disclose performance-based metrics for non-employee director pay; director equity is time-based RSUs.
| RSU Grants & Vesting (Demski) | Terms |
|---|---|
| Initial Board Grant | $300,000 RSUs; vests in 3 equal annual installments from grant date, contingent on continued Board service. |
| Annual Board Grant | $150,000 RSUs; for incumbents, granted at annual meeting; vests by next annual meeting or upon death/resignation (pro rata). |
| Consulting RSUs | 126,051 RSUs for consulting services under 4-year Master Consulting Services Agreement; vest 25% on each June 30 of 2025, 2026, 2027, 2028; if terminated before June 30, 2028, unvested RSUs vest pro rata based on days elapsed since prior June 30. |
Pay-for-performance metrics (Total revenue, Adjusted EBITDA, Adjusted EBITDA margin) apply to executives, not directors.
Other Directorships & Interlocks
| Company | Role | Overlap/Notes |
|---|---|---|
| Paragon 28 (NYSE: FNA) | Director | Current service; medtech focus in foot & ankle. |
| Axonics (Nasdaq: AXNX) | Director | Jan 2021–Nov 2024; service ended following sale to Boston Scientific. |
| Globus Medical | Director; prior CEO/President | Extended tenure and C-suite leadership experience in medtech. |
Expertise & Qualifications
- Strategic and operating leadership: CEO/President roles at Globus Medical; CFO and COO experience.
- Finance/audit: Prior CFO and audit supervisor roles; private equity and venture investing exposure.
- Industry tenure: >20 years across orthopedic and medical devices; distribution and operations background.
- Education: B.S. (Michigan), MBA (Stanford GSB).
Equity Ownership
| Measure | Value |
|---|---|
| Beneficial Ownership (Apr 16, 2025) | 272,540 shares; <1% outstanding; includes 16,747 RSUs vesting within 60 days. |
| Beneficial Ownership (Apr 17, 2024) | 150,000 shares; <1% outstanding. |
| Unvested Stock Awards (Dec 31, 2024) | 142,798 RSUs outstanding/unvested. |
| Stock Ownership Guidelines | Non-employee directors: 3.0x cash retainer; time-based RSUs count; stock options and unearned PRSUs do not; 5-year compliance window. |
The proxy’s security ownership section does not disclose any pledging for Demski.
Governance Assessment
- Board effectiveness and engagement: 100% meeting attendance in 2024 indicates strong engagement; Demski is not on core committees, which limits direct oversight roles but avoids potential committee conflicts with his consulting arrangement.
- Independence and conflicts: Demski was deemed independent in 2024; however, ATEC’s subsidiary entered a 4-year consulting agreement with Demski in Dec 2024 granting 126,051 RSUs with multi-year vesting—this related arrangement can raise investor concerns around independent oversight and potential conflicts. Notably, the proxy’s related-person transactions section states “There are no related person transactions to report,” while separately disclosing the consulting agreement under “Agreements with our Officers, Directors and Principal Stockholders.” This discrepancy is a governance red flag to monitor.
- Director pay mix and alignment: 2024 stock awards for Demski ($1.29M) were elevated versus 2023 ($0.375M), reflecting board grants and the consulting RSU award; large equity grants align interests but also amplify independence scrutiny given concurrent consulting.
- Ownership alignment: Beneficial ownership rose from 150,000 (Apr 2024) to 272,540 shares (Apr 2025), with substantial unvested RSUs; ATEC’s director ownership guidelines (3x retainer) support alignment, though the proxy does not disclose individual compliance status.
- Shareholder feedback: Say-on-Pay support was ~85% in 2024, indicating general investor comfort with the pay program design; nonetheless, the Demski consulting arrangement merits continued investor dialogue.
Additional governance context: ATEC maintains indemnification agreements for directors/officers and a clawback policy for executive incentive compensation effective Dec 1, 2023 (Nasdaq Rule 10D compliance).