Siddhesh Angle
About Siddhesh Angle
Independent director of Bone Biologics (BBLG); age 41; appointed effective upon completion of the October 2021 offering. Background spans orthobiologics R&D and innovation commercialization: Co‑Founder, President & CEO of Regenosine (2018–present), executive team member at Vetosine (2021–present), prior roles at NYU Langone (2017–2021), Zimmer Biomet (2013–2017), and Carnegie Mellon University (2011–2013) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zimmer Biomet | R&D roles culminating as R&D Manager, Global Orthobiologics | 2013–2017 | Orthobiologics product development leadership |
| Carnegie Mellon University | Research Scientist | 2011–2013 | Academic research foundation |
| NYU Langone | Program Manager, Innovation Commercialization; Associate Director | 2017–2020; 2020–2021 | Translational commercialization expertise |
External Roles
| Organization | Role | Tenure | Notes/Potential Interlock |
|---|---|---|---|
| Regenosine | Co‑Founder, President & CEO | 2018–present | Early-stage OA therapeutics; private company; no disclosed related-party ties to BBLG |
| Vetosine | Executive Team (animal health affiliate of Regenosine) | 2021–present | Private; no disclosed related-party ties to BBLG |
Board Governance
- Board independence: Board determined Angle and all current directors are independent under Nasdaq and SEC rules .
- Board meetings: 9 meetings in FY 2024; each director attended at least 75% of aggregate Board and committee meetings .
- Committees and chair roles (FY 2024):
- Audit Committee: Members — Bruce Stroever, Robert Gagnon (Chair), Sid Angle; 2 meetings (plus 2 unanimous written consents) .
- Compensation Committee: Members — Bruce Stroever (Chair), Robert Gagnon, Sid Angle; acted by unanimous written consent once .
- Nominating & Corporate Governance Committee: Members — Bruce Stroever, Robert Gagnon, Sid Angle (Chair); 1 meeting (plus 1 unanimous written consent) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash (FY 2024) | $30,000 | Reported director fees |
| Director Compensation Policy — Annual Board Retainer | $25,000 for independent directors; $35,000 for Board Chair | Paid quarterly, in arrears; vested on payment |
| Committee Chair Retainer | $5,000 per chair (Audit, Compensation, Nominating/CG) | In addition to board retainer |
Performance Compensation
| Equity Award Detail | Value/Units | Grant/Term | Vesting | Notes |
|---|---|---|---|---|
| Option Awards (FY 2024 reported) | $49,406 grant-date fair value | FY 2024 | Options vest quarterly | ASC 718 Black‑Scholes valuation per 10‑K Note 8 |
| Director Policy — Annual Option Grant | Option value of $50,000 | Granted at close of each annual meeting | Vest in 4 equal quarterly installments over 1 year | NSOs; 10‑year term; strike = FMV at grant |
| Director Policy — Initial Grant | 9 shares (NSO) | Upon initial appointment | Full vest at next annual meeting | NSOs; 10‑year term; strike = FMV |
Recent Form 4 Activity (Angle)
| Date (Period of Report) | Transaction | Securities | Exercise Price | Expiration | Vesting |
|---|---|---|---|---|---|
| 2025-06-04 | Non‑Employee Stock Option Award | 62,894 options | Not stated in summary | 2035-06-04 | Four equal quarterly installments; one option described as fully exercisable in filing |
| 2024-09-17 | Non‑Employee Stock Option Award | 30,713 options | Not stated in summary | 2034-09-17 | Four equal quarterly installments |
| 2023-09-18 | Non‑Employee Stock Option Award | 85,763 options | Not stated in summary | 2033-09-13 | Award grant reported |
| 2022-08-23 | Non‑Employee Stock Option Award | 36,845 options | $1.61 | 2027-08-23 | Quarterly through next annual meeting per explanation |
| 2021-10-26 | Non‑Employee Stock Option Award | 11,671 options | Not stated in summary | 2031-10-26 | Award grant reported |
Clawback: Stock awards under the 2015 Plan are subject to recoupment per company clawback policy and applicable listing rules; company adopted “Policy for the Recovery of Erroneously Awarded Compensation” (Exhibit 97) .
Other Directorships & Interlocks
- Public company boards: None disclosed in BBLG proxy biography for Angle .
- Private affiliations: Regenosine, Vetosine; no disclosed related-party transactions with BBLG since Jan 1, 2023 .
Expertise & Qualifications
- Orthobiologics product development (Zimmer Biomet) and translational commercialization (NYU Langone), plus founder-CEO experience in OA therapeutics; viewed as qualified for board service by the company .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Footnote/Detail |
|---|---|---|---|
| Siddhesh Angle | 26,365 | * (<1%) | Includes 26,365 shares underlying stock options exercisable within 60 days; based on 3,271,042 shares outstanding |
| Stock Options Outstanding (as of 12/31/2024) | 41,722 (Angle) | n/a | Options count per director table |
Pledging/Hedging: No pledging or hedging disclosures specific to Angle identified in the proxy; no related‑party transactions disclosed for directors/officers since Jan 1, 2023 .
Governance Assessment
- Independence and roles: Angle is an independent director and Chair of the Nominating & Corporate Governance Committee; also serves on Audit and Compensation. Committee breadth supports board coverage; audit has a designated financial expert (Gagnon), which complements Angle’s non‑financial expertise .
- Attendance and engagement: Board convened 9 times in FY 2024 with each director ≥75% attendance; committees relied on written consents for some actions, common at micro‑cap issuers with constrained resources .
- Compensation alignment: Director pay mix is modest cash ($25k base + $5k chair) and equity via options with standardized vesting and 10‑year terms; FY 2024 actual for Angle was $30k cash and $49,406 option value. No meeting fees; equity cadence tied to annual meeting mitigates timing risk .
- Ownership “skin in the game”: Beneficial ownership reported below 1% with options approaching 41.7k outstanding as of year‑end 2024; regular option awards (including pro‑rated, annual) show ongoing alignment, but limited outright share ownership disclosure suggests most exposure via options .
- Shareholder support signal: 2025 annual meeting re‑election results for Angle — Votes For: 358,973; Withheld: 41,642; broker non‑votes: 1,226,214 — indicative of continued investor support in a thinly held micro‑cap context .
- Conflicts/RED FLAGS: No related‑party transactions; no disclosed family relationships; legal proceedings statement indicates no material proceedings; no tax gross‑ups, option repricing, or loans disclosed. Potential perceived conflict to monitor: leadership of external biotech startups (Regenosine/Vetosine) — company’s related‑party section reports none, but overlap in orthobiologics domain merits ongoing surveillance .
Director Compensation (FY 2024)
| Name | Cash Fees | Option Awards (Grant-Date Fair Value) | Total |
|---|---|---|---|
| Siddhesh Angle | $30,000 | $49,406 | $79,406 |
Voting & Shareholder Feedback (Context)
- 2025 director election: Angle re‑elected with 358,973 votes for; 41,642 withheld .
- 2025 Say‑on‑Pay: For: 253,014; Against: 129,875; Abstain: 17,726; Broker non‑votes: 1,226,214 — advisory approval passed; while not director‑specific, it reflects general investor sentiment toward compensation practices .
Committee Memberships & Meetings (FY 2024)
| Committee | Meetings | Members | Chair |
|---|---|---|---|
| Audit | 2 (plus 2 unanimous written consents) | Stroever; Gagnon; Angle | Robert Gagnon |
| Compensation | 0 (one unanimous written consent) | Stroever; Gagnon; Angle | Bruce Stroever |
| Nominating & Corporate Governance | 1 (one unanimous written consent) | Stroever; Gagnon; Angle | Siddhesh Angle |
Insider Trades (Form 4 Summary — Angle)
| Date Filed | Period of Report | Type | Shares/Units | Exercise Price | Expiration | Note |
|---|---|---|---|---|---|---|
| 2025-06-06 | 2025-06-04 | Option Award | 62,894 | Not stated | 2035-06-04 | Quarterly vesting; one option fully exercisable per filing |
| 2024-09-19 | 2024-09-17 | Option Award | 30,713 | Not stated | 2034-09-17 | Quarterly vesting |
| 2023-09-20 | 2023-09-18 | Option Award | 85,763 | Not stated | 2033-09-13 | Award grant |
| 2023-03-08 | 2022-08-23 | Option Award | 36,845 | $1.61 | 2027-08-23 | “Quarterly through next annual meeting” vesting |
Equity Plan Governance
- Equity awards to independent directors follow a predetermined schedule (initial grant at appointment; annual grant at annual meeting); management advises the board if material non‑public info is near grant dates; no equity grants occurred during blackout windows around filings in FY 2024 .
- Options under the Director Compensation Policy are NSOs with 10‑year term and strike equal to FMV; annual director option value target of $50,000 .
Related Party & Conflicts
- Company disclosed no transactions involving directors/officers, nominees, ≥5% holders, or relatives since Jan 1, 2023; review/approval framework in place for related persons .
Summary Implications
- Alignment: Cash retainer modest; equity via standardized options with clear vest and term supports long‑term orientation, though outright share ownership appears limited; continued Form 4 awards increase exposure .
- Governance quality: Independent status, committee breadth, and chairing Nominating/CG indicate active oversight; attendance ≥75% acceptable; presence of a designated audit committee financial expert strengthens financial reporting oversight .
- Risk signals: No related‑party, no option repricing, no pledging reported; monitor any evolving overlap between Regenosine/Vetosine activities and BBLG strategic direction given domain proximity, though current disclosures show no transactions .