Robert Eno
About Robert Eno
Robert Eno, 57, is HeartBeam’s Chief Executive Officer (appointed October 2024) and a Director (appointed May 5, 2025). He joined HeartBeam as President in January 2023 and has over 30 years in medtech with commercialization leadership at HeartFlow, OptiMedica, NeoGuide Systems, and Avantec Vascular; he previously served as CEO of Preview Medical. He holds an MBA and a BA (Honors/Distinction) from Stanford University. Under his leadership, HeartBeam received FDA clearance for its cable-free 3D ECG device in December 2024, submitted its 12-lead synthesis software 510(k) in January 2025, completed the 198-patient VALID-ECG pivotal study, and launched an Early Access Program ahead of commercialization contingent on 12-lead software clearance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Preview Medical | Chief Executive Officer | Not disclosed | Led diagnostics company using ML and proprietary optical signals for real-time tissue classification . |
| HeartFlow | Senior marketing/sales leadership | Not disclosed | Commercial development of disruptive cardiovascular technologies . |
| OptiMedica | Senior marketing/sales leadership | Not disclosed | Commercial launches in ophthalmic medtech . |
| NeoGuide Systems | Senior marketing/sales leadership | Not disclosed | Advanced endoscopy platform commercialization . |
| Avantec Vascular | Senior marketing/sales leadership | Not disclosed | Cardiovascular device market development . |
External Roles
No current external public-company board roles disclosed for Mr. Eno .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $345,000 | $379,354 (comp table); CEO agreement sets $400,000 annual base from Oct 2024; President salary increased to $378,000 effective Jan 1, 2024 . |
| Target Bonus (% of base) | 40% as President | 60% as CEO; 40% earlier in 2024 as President . |
| Actual Bonus Paid ($) | $102,970 (paid early 2024) | $111,321 (paid early 2025) . |
| Stock Awards ($) | $0 | $0 . |
| Option Awards ($) | $2,086,639 | $0 . |
| Total ($) | $2,534,609 | $490,675 |
Performance Compensation
| Grant (Date) | Shares | Strike ($) | Expiration | Vesting | Performance Metric |
|---|---|---|---|---|---|
| Options (Jan 18, 2023) | 240,000 | $4.47 | 01/18/2033 | 25% on 1/18/2024; remainder monthly over 48 months . | None (time-based) . |
| Options (May 14, 2023) | 179,000 | $2.08 | 05/14/2033 | 60% milestone-based; 40% monthly over 48 months . | FDA clearance for marketing of synthesized 12-lead product (12L) . |
| Options (Aug 2, 2023) | 357,000 | $2.90 | 08/02/2033 | 60% milestone-based; 40% monthly over 48 months . | FDA clearance for marketing of synthesized 12L product . |
| Options (Nov 12, 2021) | 9,000 | $4.25 | 11/12/2031 | Monthly over 4 years . | None (time-based) . |
| Options (Nov 1, 2020) | 36,363 | $0.28 | 11/01/2030 | Monthly over 4 years . | None (time-based) . |
Detailed performance metric status:
| Metric | Weighting | Target | Actual (as of 12/31/2024) | Payout | Vesting Mechanics |
|---|---|---|---|---|---|
| FDA clearance for synthesized 12-lead ECG software (12L) | 60% of 2023 grants (May, Aug) | 510(k) clearance | 12L submission filed Jan 2025; not cleared by FYE 2024 | None until clearance | 60% tranches vest upon FDA clearance; remaining 40% time-based monthly . |
Notes:
- Options exercised: No options were exercised and no stock vested for Eno in fiscal 2024, reducing near-term selling pressure pre-clearance .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Total beneficial ownership (shares) | 165,399; less than 1% of outstanding . |
| Vested vs. unvested | Includes 12,850 options exercisable within 60 days after 3/31/2025 and 152,549 vested options; excludes 408,451 unvested options . |
| Pledging/Hedging policy | Company prohibits hedging, short sales, options trading on Company stock, margin accounts, and pledging as collateral without unanimous compliance committee approval . |
| Ownership guidelines | Not disclosed in proxy; employee directors do not receive separate board compensation . |
Employment Terms
| Term | Details |
|---|---|
| Start date at HeartBeam | January 18, 2023 (President); CEO appointment October 17, 2024; Director appointment May 5, 2025 . |
| Base salary | $360,000 (President, Jan 2023); $378,000 effective Jan 1, 2024; $400,000 annual base under CEO Employment Agreement (Oct 2024) . |
| Annual bonus | Up to 40% of base (President); up to 60% of base (CEO), tied to agreed corporate goals/objectives . |
| Equity | 2023 option grants as detailed above; Compensation Committee plans full equity review in 2025 to align LTIs with peer benchmarks and shareholder value . |
| Severance | Not disclosed . |
| Change-of-control (plan-level) | If awards are not continued by successor, 100% vesting acceleration for unvested options/RSUs; performance awards deemed achieved at 100% of target; non-employee directors receive similar acceleration unless otherwise provided . |
| Clawback | Awards subject to recoupment under any Company clawback policy required by law/listing standards; administrator may impose additional clawback/forfeiture terms . |
| Non-compete/Non-solicit | Not disclosed . |
Board Governance
| Role | Details |
|---|---|
| Board service | Director since May 5, 2025 . |
| Independence | Management director (CEO); Company indicates seven independent directors per Nasdaq rules; independent directors hold executive sessions . |
| Committees | Audit Committee: de Urioste (Chair), Ortigas-Wedekind, Ferrari; Compensation: Ferrari (Chair), Elfrink, Strome, de Urioste; Nominating & Governance: Ortigas-Wedekind (Chair), Elfrink, Jaff; Commercialization: Elfrink (Chair), Jaff, Strome, Nelson . |
| Board leadership | Roles separated: Richard Ferrari serves as Executive Chairman; Eno as CEO; Board views separation as enhancing oversight and allowing CEO focus on operations . |
| Attendance | All directors attended ≥75% of Board and committee meetings in 2024; Board held six meetings and 18 written consents . |
| Director compensation (policy) | Employee directors receive no separate board compensation; outside director cash/RSU program disclosed separately . |
Investment Implications
- Pay-for-performance alignment is clear: 60% of Mr. Eno’s 2023 option grants vest only upon FDA clearance of the synthesized 12-lead ECG software; the milestone linkage directly ties equity realization to regulatory execution and commercialization readiness .
- Near-term selling pressure appears limited pre-clearance: Eno reported no option exercises/stock vesting in 2024, and milestone tranches have not vested as of year-end; clearance of 12L could trigger substantial vesting and potential liquidity, a timing consideration for trading around regulatory events .
- Retention outlook strengthened by time-based vesting and a planned 2025 equity review: Ongoing monthly vesting and the Compensation Committee’s stated intent to align LTIs with peer benchmarks suggest continued retention incentives and possible future equity issuance, with dilution trade-offs .
- Governance risk mitigants include separated Chair/CEO roles and independent committee control; however, Eno’s non-independent board status (as CEO) requires continued reliance on independent committees (e.g., Compensation chaired by Executive Chairman) for pay oversight .
- Change-of-control mechanics in the equity plan imply full acceleration if awards aren’t continued by a successor and performance awards deemed at target—important for modeling transaction economics and potential overhang .