David Moatazedi
About David Moatazedi
David Moatazedi (age 47) is an independent director of Biomerica, Inc. (BMRA) and has served on the Board since 2020; he currently chairs the Compensation Committee and sits on the Audit and Nominating & Corporate Governance Committees . He is President & CEO and a director of Evolus, Inc. (NASDAQ: EOLS) since May 2018, and previously served on the board of Obalon Therapeutics; earlier roles include Senior Vice President and various leadership positions at Allergan (2005–2018) and a district manager role at Novartis (2000–2005) . He holds an MBA from Pepperdine University and a BA from California State University, Long Beach .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Allergan | Senior Vice President; leadership roles in U.S. Medical Aesthetics, Facial Aesthetics, Plastic Surgery | 2005–2018 | Division leadership in commercial functions |
| Novartis Pharmaceuticals | District Manager | 2000–2005 | Field sales management |
External Roles
| Organization | Role | Tenure | Public/Private | Notes |
|---|---|---|---|---|
| Evolus, Inc. (EOLS) | President & CEO; Director | May 2018–present | Public | Orange County-based life sciences; ~$500M market cap noted in BMRA proxy |
| Obalon Therapeutics | Independent Director | Mar 2017–Jun 2020 | Public (later merged into ReShape Lifesciences) | Prior public company directorship |
Board Governance
- Committee assignments: Chair, Compensation; Member, Audit; Member, Nominating & Corporate Governance .
- Current committee leadership plan: post-2025 Annual Meeting, Moatazedi anticipated to remain Compensation Chair; Audit chaired by Eric Bing Chin (Moatazedi a member); Nominating & Governance chaired by Gary Huff (Moatazedi a member) .
- Independence: Board determined Moatazedi is independent under SEC/Nasdaq rules .
- Attendance: In FY ended May 31, 2025, the Board met 8 times; Audit 7; Compensation 4; Nominating & Governance 4; all directors attended ≥75% of aggregate Board/committee meetings .
- Annual meeting attendance: 2024 annual meeting attended by all five directors; majority expected at 2025 annual meeting .
Fixed Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Annual Cash Retainer ($) | 45,000 | 45,000 |
| Committee Chair Stipend – Compensation ($) | 7,500 | 7,500 |
| Total Cash Fees Paid ($) | 52,500 | 52,500 |
Director cash retainer schedule: $45,000 annual retainer; Chair stipends: Audit $15,000; Compensation $7,500; Nominating & Governance $7,500 .
Performance Compensation
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Stock Awards ($) | – (none disclosed) | 26,669 |
| Option Awards ($) | 105,322 | – (none disclosed) |
Vesting and award detail:
- Restricted stock outstanding: 10,625 shares; scheduled to vest on December 13, 2025 .
- Options outstanding (count): 132,000 option awards outstanding at FY2025 year-end (director-level disclosure) .
- BMRA equity plans provide standard four-year vesting for restricted stock and options, with change-in-control acceleration; director options remain exercisable up to 10 years post-grant once vested (per plan documents referenced by BMRA) .
Other Directorships & Interlocks
| Company | Relationship to BMRA | Potential Interlock/Conflict Assessment |
|---|---|---|
| Evolus, Inc. | No BMRA-related transactions disclosed | CEO/director role increases network reach; no related-party transactions >$120,000 reported since June 1, 2024 |
| Obalon Therapeutics (prior) | None disclosed | Historical role; no current BMRA transactions disclosed |
Expertise & Qualifications
- CEO of a public life sciences company (Evolus), providing commercial, governance, and capital markets experience relevant to BMRA .
- Deep medical aesthetics sector expertise from Allergan leadership roles .
- MBA (Pepperdine) and BA (CSULB), supporting financial and strategic literacy; Board deemed Moatazedi independent and financially literate for committee service .
Equity Ownership
As of October 17, 2025 (record date for 2025 proxy):
| Metric | Amount |
|---|---|
| Shares Beneficially Owned | 36,188 |
| Ownership % of Outstanding Shares | 1.2% (of 2,947,966 shares outstanding) |
| Exercisable Options within 60 days | 14,938 |
| Restricted Stock Scheduled to Vest (Dec 13, 2025) | 10,625 |
| Director Options Outstanding (total, FY2025) | 132,000 |
| Shares Pledged/Hedged | Prohibited by BMRA’s Insider Trading Policy (short sales, margin, pledging, hedging) |
Governance Assessment
- Strengths:
- Independent director with relevant operating CEO experience and prior public board service; chairs Compensation Committee and serves on Audit/Nominating, supporting board effectiveness and oversight .
- Good attendance (≥75%) and active committee engagement; audit committee comprised of independent directors and chaired by an audit financial expert .
- Director and executive compensation skewed toward equity, aligning pay with TSR; clawback policy adopted and anti-hedging/pledging policy in place, supporting investor alignment .
- Watch items / potential investor confidence signals:
- Board proposals to materially increase authorized common shares from 25,000,000 to 300,000,000 (2025) and prior reverse split authorization (2024) raise dilution risk; while necessary for capital flexibility, investors may monitor Compensation Committee stewardship of equity grant sizing and dilution control .
- No related-party transactions disclosed; continue monitoring given Moatazedi’s external CEO role (Evolus) for any future transactions/interlocks .
- The Compensation Committee does not formally retain a compensation consultant, relying on peer data from industry sources; governance best practice often favors independent advisors—investors may seek assurance on benchmarking rigor .
Overall: Moatazedi’s independence, attendance, and cross-committee roles are positives. Equity-heavy director pay and formal clawback/insider trading restrictions support alignment. Dilution-related proposals and the absence of a formal comp consultant warrant continued monitoring for shareholder-friendly implementation and transparency .