Matthew Klein
About Matthew B. Klein
Matthew B. Klein, M.D., M.S., age 53, has served on ClearPoint Neuro’s Board since April 2020. He is the Chief Executive Officer and President of PTC Therapeutics, Inc.; prior roles include CEO and Director of BioElectron (2018–2019), Chief Medical Officer of BioElectron (2013–2019), and Senior Vice President, Clinical Science (2012–2013). He holds a B.A. from the University of Pennsylvania, an M.D. from Yale School of Medicine, and an M.S. in Epidemiology from the University of Washington School of Public Health .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BioElectron Technology Corporation | Senior Vice President, Clinical Science | 2012–2013 | Senior clinical leadership in development programs |
| BioElectron Technology Corporation | Chief Medical Officer | 2013–2019 | Led clinical strategy and programs |
| BioElectron Technology Corporation | Chief Executive Officer and Director | 2018–2019 | CEO; Board-level oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| PTC Therapeutics, Inc. (Nasdaq: PTCT) | CEO & President | March 2023–Present (joined Oct 2019; prior roles: Global Head Gene & Mitochondrial Therapies; Chief Development Officer; Chief Operating Officer) | Current operating role; significant biopharma and gene therapy expertise |
Board Governance
- Committee assignments: Dr. Klein is not listed as a member of the Audit Committee (Fallon—Chair; Girin; Fletcher), Compensation Committee (Johnson—Chair; Liau; Richards), or Corporate Governance & Nominating Committee (Richards—Chair; Fletcher; Fallon) .
- Independence: The Board determined six directors are independent under Nasdaq rules—Fallon, Fletcher, Girin, Johnson, Liau, Richards—Dr. Klein is not listed among independent directors (non-independent) .
- Attendance: The Board met five times in 2024; all directors attended at least 75% of Board and applicable committee meetings .
- Years of service on CLPT Board: Since April 2020 .
- Lead independent director structure: When the Chair is not independent, the Corporate Governance & Nominating Committee Chair (independent) acts ex officio as Lead Independent Director; Richards currently chairs that committee .
Fixed Compensation
| Item | 2024 Amount | Notes |
|---|---|---|
| Annual Board retainer (cash) | $40,000 | Per Director Compensation table for Dr. Klein |
| Committee membership fees | $0 | No committee assignments for Dr. Klein |
| Committee chair fees | $0 | Not a committee chair |
| Meeting fees | Not disclosed | No per-meeting fees disclosed |
Reference policy (Non-Employee Director Compensation Plan): Board retainer $40,000; Audit Chair $20,000 / members $10,000; Compensation Chair $15,000 / members $7,500; Corporate Governance & Nominating Chair $12,000 / members $7,500 .
Performance Compensation
| Grant Type | Grant Date | Shares/Units | Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| RSU (annual director grant) | May 16, 2024 | 21,093 | $134,995 | Vests on earlier of 1st anniversary or day immediately preceding next annual meeting | Standard non-employee director grant; same for all directors |
| Options (outstanding, not 2024 grant) | N/A | 12,185 (exercisable within 60 days) | N/A | N/A | Included in beneficial ownership; no 2024 option award to director |
- Equity award cadence for non-employee directors: New director RSU grant $135,000 at appointment; annual RSU grant $135,000 for continuing directors; time-based vesting only (no performance metrics) .
- Clawback: All awards under the incentive plan are subject to the Company’s Compensation Recoupment Policy and applicable law/exchange rules .
Other Directorships & Interlocks
| Entity | Nature | Implication |
|---|---|---|
| PTC Therapeutics, Inc. | Strategic investor and right to designate a CLPT Board nominee while holding ≥500,000 CLPT shares; Dr. Klein is PTC’s CEO & President and serves as PTC’s designated director since April 2020 | Related-party governance linkage; potential conflict to monitor if business dealings arise; disclosure notes no other director-compensation arrangements beyond this designation |
Expertise & Qualifications
- Medical doctor with epidemiology training; extensive leadership in biopharma/gene therapy and clinical development (PTC, BioElectron) .
- Brings domain expertise aligned with CLPT’s neurosurgical and biologics/drug delivery strategy .
Equity Ownership
| Holder | Total Beneficial Ownership | % of Outstanding | Breakdown/Notes |
|---|---|---|---|
| Matthew B. Klein | 62,703 | <1% | Includes 12,185 shares via options exercisable within 60 days and 21,093 RSUs vesting within 60 days (balance common shares) |
| Stock ownership guidelines | Directors required to own shares equal to 400% of annual base retainer within 5 years of appointment/adoption; beneficial ownership includes direct/household holdings and vested options/awards | Policy adopted June 2021; applies to non-employee directors | |
| Hedging/derivatives | Company policy prohibits short sales and buying/selling put or call options by directors | Supports alignment; pledging not specified in proxy excerpt |
Governance Assessment
- Positives
- Strong sector expertise (biopharma, gene therapy, clinical development) valuable to CLPT’s biologics/drug delivery strategy .
- Good attendance culture; all directors ≥75% attendance in 2024; Board met five times .
- Transparent director pay structure (cash retainer + time-based RSUs) and stock ownership guidelines for alignment; clawback policy in place .
- Watch items / potential RED FLAGS
- Non-independent status driven by PTC designation; PTC retains a contractual right to a Board seat while holding ≥500,000 shares (interlock). Monitor for any related-party transactions or strategic decisions involving PTC; Audit Committee oversees related-party reviews .
- No committee assignments—limits direct influence on audit, compensation, or governance processes; consider future committee participation for deeper oversight engagement .
- Company-wide governance signal
- 2024 say-on-pay support ~95% indicates broad shareholder approval of compensation practices (contextual, not director-specific) .
Overall: Dr. Klein adds material therapeutic and clinical expertise and external line-of-sight as a current public-company CEO. The PTC-designated seat is the key governance sensitivity; continued disclosure and strict application of related-party policies, plus avoiding PTC-linked transactions without robust oversight, are important to maintain investor confidence .