Joseph Slattery
About Joseph Slattery
Independent Lead Director (since Feb 2024) with deep life‑sciences finance experience; age 60; CVRx director since October 2008. Previously EVP & CFO at multiple medical device/biotech companies; B.S. in Accounting (Bentley University) and certified public accountant; designated Audit Committee Financial Expert. Current outside public board: Replimune Group, Inc. .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Asensus Surgical, Inc. | EVP & CFO | Oct 2013 – Dec 2019 | Medical device CFO experience |
| Baxano Surgical, Inc. | EVP & CFO | Apr 2010 – Sept 2013 | Public medtech CFO |
| Digene Corporation | CFO & SVP Finance/IS; earlier finance roles | CFO Oct 2006 – Aug 2007; company roles Feb 1996 – Aug 2007 | Advanced from finance roles to CFO |
External Roles
| Organization | Role | Status |
|---|---|---|
| Replimune Group, Inc. | Director | Current |
| Baxano Surgical, Inc. | Director | Prior |
| Exosome Diagnostics, Inc. | Director | Prior |
| Micromet, Inc. | Director | Prior |
| Morphic Therapeutic, Inc. | Director | Prior |
| Omega Alpha SPAC | Director | Prior |
Board Governance
- Independence: Board determined Mr. Slattery is independent; no family relationships disclosed .
- Board leadership: Elected Independent Lead Director in Feb 2024; independent directors meet in executive session at most regular meetings .
- Committees and roles (2024):
- Audit Committee: Chair; designated “audit committee financial expert”; committee met 8× in 2024 .
- Compensation Committee: Member; committee met 9× in 2024 .
- Nominating & Corporate Governance Committee: Not a member; committee met 6× in 2024 .
- Attendance: Each director attended ≥75% of Board and committee meetings in 2024; Board met 8× in 2024 .
Fixed Compensation
Director compensation program (effective 2024):
- Cash retainers: Board member $45,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating & Corporate Governance Chair $10,000; Audit member $10,000; Compensation member $7,500; Nominating & Corporate Governance member $5,000; Independent Lead Director $32,500 .
- Equity: Annual stock option grant with grant‑date value ~$130,000; initial option grant for new directors ~$260,000 (3‑year ratable vesting) .
Mr. Slattery – 2024 actual director compensation:
| Component | Amount |
|---|---|
| Fees earned (cash) | $101,228 |
| Stock option awards (grant‑date fair value) | $129,928 |
| Total | $231,156 |
Notes:
- As Audit Chair and Independent Lead Director and a member of the Compensation Committee, his cash fees reflect base retainer plus applicable chair/member/lead stipends under the program above (subject to proration) .
Performance Compensation
- Structure: Non‑employee directors receive stock options; annual grant value ~$130,000; annual options vest in full on the earlier of 1‑year anniversary or next annual meeting .
- Initial equity: ~$260,000 in options for new directors; vests ratably over 3 years .
- Acceleration: Director awards vest in full upon death or permanent disability and upon a change in control (as defined in the 2021 Plan) .
- 2024 equity position (Mr. Slattery): Outstanding stock options 116,358 at 12/31/2024 .
No director performance metrics (e.g., TSR, revenue) are tied to director equity; awards are service‑based options with the schedules above .
Other Directorships & Interlocks
- Current public company directorship: Replimune Group, Inc. .
- Prior public/private boards: Baxano Surgical, Exosome Diagnostics, Micromet, Morphic Therapeutic, Omega Alpha SPAC .
- Related‑party/Interlocks: The proxy’s related‑party section describes an Investors’ Rights Agreement covering certain holders (including entities affiliated with some directors) but does not disclose any related‑party transactions involving Mr. Slattery personally in 2024–2025 .
Expertise & Qualifications
- Financial: Former CFO at multiple medtech/biotech companies; CPA; B.S. in Accounting (Bentley University); designated “audit committee financial expert” .
- Industry: Extensive finance and business experience in life sciences and medical devices; Board cites this as a qualification for service .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (as of Apr 7, 2025) | 146,813 shares; less than 1% of 26,056,808 shares outstanding |
| Included in beneficial ownership | Options exercisable within 60 days: 116,168 shares |
| Outstanding options (12/31/2024) | 116,358 options outstanding |
| Anti‑hedging/pledging | Company policy prohibits hedging and pledging of CVRx stock by directors |
Governance Assessment
- Role concentration and oversight: Independent Lead Director (since Feb 2024) and Audit Committee Chair with “financial expert” status—positions that centralize oversight of financial reporting and board independence processes .
- Engagement: Board and committee cadence was regular in 2024 (Board 8×; Audit 8×; Compensation 9×), with directors meeting the ≥75% attendance threshold .
- Pay and alignment: Director pay is a balanced cash retainer plus time‑based options; Slattery’s 2024 mix ($101,228 cash; $129,928 equity) aligns with the program; ILD and Audit Chair stipends recognize responsibilities .
- Risk controls: Strict anti‑hedging and anti‑pledging policy mitigates misalignment risk; no related‑party transactions involving Slattery disclosed; Board affirms director independence .
RED FLAGS
- None disclosed regarding related‑party transactions, hedging/pledging, or attendance for Mr. Slattery in the latest proxy .