Mona Patel
About Mona Patel
Mona Patel (age 57) is a Class I independent director of Envoy Medical, Inc. (COCH), serving since 2023; her current term runs to the 2027 annual meeting . She brings 30+ years in medical devices across marketing, market development, clinical education, and M&A, including senior roles at Boston Scientific’s neuromodulation division and Guidant, and began her career as an engineer at Abbott Labs . Education: BSE in Mechanical Engineering (University of Michigan) and MBA (Wharton School, University of Pennsylvania) . Her board credentials emphasize commercialization and category-building in med-tech, with experience scaling neuromodulation to ~$1B in sales .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boston Scientific (Neuromodulation) | Vice President of Marketing and Clinical Education | Not disclosed | Introduced first rechargeable spinal cord stimulator; led market migration to rechargeable; launched first rechargeable DBS for Parkinson’s; helped build division to ~$1B sales |
| Guidant | Marketing and Business Development | Not disclosed | Acquired/licensed technologies to form Cardiac & Vascular surgery division; executed acquisitions of two med-tech start-ups |
| Abbott Laboratories | Engineer | Not disclosed | Early engineering foundation in regulated healthcare |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Med-tech start-ups (various) | Strategic Advisor | Current | Advises startups on fundraising, market opportunity assessment, and go-to-market planning |
| Other public company boards | — | — | None disclosed in COCH proxy biography |
Board Governance
- Independence: The Board determined Mona Patel is independent under Nasdaq Listing Rules; the Board maintains a majority of independent directors .
- Class & Tenure: Class I director; term expires in 2027 .
- Committee assignments: Member, Audit Committee (Susan J. Kantor—Chair; Patel; Smith-Gomez) ; Member, Compensation Committee (Patel; Brynelsen; Crowe) .
- Engagement and attendance: In 2024, the Board met 8 times; Audit met 11 times; Compensation met 4 times; Nominating/Governance met 8 times; all directors other than Mr. Taylor attended ≥75% of their meetings; independent directors and the Audit Committee held regular executive sessions .
- Audit Committee activity: Audit Committee held 10 meetings in 2024 and oversaw audits with Grant Thornton, meeting with and without management; recommended inclusion of audited financials in the 2024 Form 10-K .
Fixed Compensation
- Structure: Non-employee directors receive annual cash retainers for Board and committee service; Company intends to grant an annual restricted stock award; details were not yet determined at the time of the 2025 proxy; reasonable expenses reimbursed .
| Director Compensation (FY2024) | Fees Earned / Paid in Cash ($) | Option Awards ($) | Other ($) | Total ($) |
|---|---|---|---|---|
| Mona Patel | 40,000 | — | — | 40,000 |
Performance Compensation
- Plan eligibility and design: Under the 2023 Equity Incentive Plan, non-employee directors are eligible for all award types except incentive stock options; performance awards can be earned based on pre-established goals during a performance period, in cash or stock; administrator may accelerate restrictions; awards generally non-transferable .
- Milestone definition: Plan glossary defines “Milestone” as FDA approval of the Acclaim cochlear implant device; the proxy does not specify that director awards are linked to this milestone .
| Performance Element | Target/Definition | Applies to | Disclosure Status |
|---|---|---|---|
| Annual restricted stock award for directors | Intended annual award; specifics TBD | Non-employee directors | Stated intention; details not determined |
| Performance awards (stock/cash) | Earned upon pre-established performance goals | Participants under 2023 Plan | Plan-level structure; no director-specific metrics disclosed |
| Milestone (Acclaim FDA approval) | FDA approval of Acclaim cochlear implant | Plan glossary | Defined in plan; no director award linkage disclosed |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| None disclosed | — | — | COCH proxy biography lists no other public-company directorships for Patel |
Expertise & Qualifications
- Commercialization and category-building in neuromodulation; demonstrated ability to shift market standards (rechargeable adoption), launch complex neurological devices, and scale revenue .
- Business development/M&A experience forming new divisions; practical operating experience across regulated device portfolios .
- Technical foundation (engineering) with advanced business training (Wharton MBA) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| Mona Patel | 33,021 | * (less than 1%) |
- Shares outstanding reference: 23,809,975 Class A shares as of October 2, 2025 .
- Hedging/pledging: Directors and executives are prohibited from holding Envoy Medical securities in margin accounts and from engaging in hedging/monetization transactions (e.g., prepaid forwards, swaps, collars, exchange funds) under the Insider Trading Policy—positive alignment for investors .
Governance Assessment
- Board effectiveness: Patel adds deep med-tech commercialization and market-development expertise to two critical committees (Audit and Compensation). Audit Committee engagement (10 meetings in 2024, executive sessions, oversight of auditor independence, and Form 10‑K recommendation) supports robust financial oversight—positive for investor confidence .
- Independence & attendance: Confirmed independent; met attendance thresholds and attended the 2024 annual meeting—signals engagement and governance quality .
- Pay and alignment: 2024 director pay was modest ($40,000 cash; no equity grants recorded for Patel in 2024). She holds 33,021 shares (<1%), with policy restrictions on hedging/pledging—moderate skin-in-the-game and alignment .
- Conflicts/related-party exposure: Proxy details several related-party items unrelated to Patel; no transactions naming Patel—no apparent conflicts or interlocks that raise red flags .
- Process watchpoint (minor): The director equity program intends annual restricted stock awards, but specifics remained “not yet determined” in the 2025 proxy—administrative maturity watchpoint rather than a governance failure; continued monitoring recommended for clarity and consistency in director equity practices .
RED FLAGS
- None material disclosed specific to Patel.
- Administrative watchpoint: lack of finalized parameters for annual director equity grants at time of 2025 proxy .