Robert John
About Robert John
Robert John, 52, is Chief Revenue Officer (CRO) at CVRx, appointed effective June 27, 2024. He brings 28+ years across cardiac rhythm management, electrophysiology, and heart failure, including senior commercial leadership at Abbott; he holds a B.S. from the University of North Texas and an M.A. from the University of Alabama . His 2024 annual bonus weighting was tightly aligned to U.S. heart failure revenue (100% weighting for John), and his actual cash incentive paid was 93% of target for 2024 . During his tenure period, CVRx revenue increased from $11.8M in Q2 2024 to $14.7M in Q3 2025 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Abbott | Divisional Vice President, Heart Failure & CRM (EMEA) | Jun 2017–Jun 2023 | Senior commercial leadership across EMEA heart failure and CRM |
| Abbott | Senior Vice President, Heart Failure | Jul 2008–Jun 2017 | Commercial leadership for Heart Failure business |
| Pfizer; Guidant; Medtronic | Sales and leadership roles | Not disclosed | Early career in sales and roles of increasing responsibility in cardiac devices |
Fixed Compensation
| Metric (2024) | Value |
|---|---|
| Annual base salary | $475,000 |
| Salary actually paid (prorated for start date) | $241,154 |
| Target annual bonus (% of base) | 50% |
| All Other Compensation (primarily 401(k) match) | $10,685 |
| Total Compensation (2024) | $1,487,502 |
The company matches 100% of the first 4% of employee 401(k) contributions in 2024 .
Performance Compensation
- Annual Cash Incentive – Metrics and Weighting (2024)
| Metric | Weighting (Robert John) |
|---|---|
| U.S. heart failure revenue | 100% |
- Annual Cash Incentive – Target vs Actual (2024)
| Name | Target % of Salary | Target Award ($) | Actual Paid ($) | Paid (% of Target) |
|---|---|---|---|---|
| Robert John | 50% | $120,577 | $111,582 | 93% |
Note: The Summary Compensation Table shows $111,852 as “Non-Equity Incentive Plan Compensation” for John; the incentive award table shows $111,582 as “Actual Award Paid.” Figures above reflect the “Actual Award Paid” table; SCT figure provided for completeness .
- Long-Term Incentives (Options)
| Grant/vesting terms | Shares | Exercise Price | Expiration | Vesting |
|---|---|---|---|---|
| Option grant (vesting commencement 6/27/2024) | 122,192 [unexercisable as of 12/31/2024] | $11.70 | 6/26/2034 | 25% vests on first anniversary of grant (i.e., 6/27/2025), then 1/48 monthly thereafter, subject to continued service |
CVRx uses stock options as the primary long-term incentive vehicle; no RSUs/PSUs disclosed for NEOs in 2024 .
Equity Ownership & Alignment
- Beneficial Ownership (as of April 7, 2025)
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Robert John | 0 | <1% (0 shown) |
- Outstanding Equity (as of 12/31/2024)
| Name | Exercisable Options | Unexercisable Options | Key Terms |
|---|---|---|---|
| Robert John | 0 | 122,192 | $11.70 strike; expires 6/26/2034; 25% at 1-year then monthly |
- Hedging/Pledging and Ownership Policies
- Company policy prohibits short sales, derivatives/hedging, and pledging of CVRx stock (including margin accounts), reducing misalignment and forced-sale risk .
- Stock ownership guidelines and clawback policy were not disclosed in the cited sections; no pledging by executives is permitted per policy .
Employment Terms
- Status: At-will employment; 30-day advance notice required for termination by the company without Cause or executive resignation/Constructive Discharge .
- Severance (non-CEO NEOs, which includes CRO):
- Without Cause or due to Constructive Discharge (outside change-in-control protection period): 12 months’ base salary plus 12 months of medical premium reimbursement .
- Change in Control (Protection Period = 3 months before to 18 months after): If terminated without Cause or for Constructive Discharge, lump sum of 12 months’ base salary + 100% of current-year target bonus + 12 months of medical premium reimbursement (double-trigger) .
- Equity treatment:
- Death/disability: acceleration of stock options .
- Change-in-control: unvested options vest if terminated without Cause or for Constructive Discharge during the Protection Period (double-trigger) .
- Definitions: “Cause” and “Constructive Discharge” detailed in the employment agreements; “Cause” includes, among others, material breach of a proprietary information and noncompetition agreement, willful misconduct, fraud/embezzlement, qualifying criminal misconduct, or detrimental substance use .
- Non-compete: Existence implied by inclusion in “Cause” definition; duration/scope not disclosed in the cited sections .
Performance & Track Record (Company-level, context for CRO role)
| Metric | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|---|---|
| Revenue ($USD) | 11,807,000 | 13,373,000 | 15,342,000 | 12,348,000 | 13,589,000 | 14,690,000 |
| EBITDA ($USD) | -13,832,000* | -12,842,000* | -10,096,000* | -13,253,000* | -14,183,000* | -12,074,000* |
- Values retrieved from S&P Global.
John’s 2024 annual incentive weighting was fully tied to U.S. heart failure revenue, and his payout was 93% of target, indicating partial achievement against the revenue objectives established by the Compensation Committee .
Compensation Committee and Governance Notes
- The Compensation Committee engaged Aon as independent advisor and used a peer group of comparable public companies to inform 2024 compensation decisions; consultant independence affirmed .
- 2025 Annual Meeting did not include a say‑on‑pay proposal; stockholders voted on director elections and auditor ratification only .
Investment Implications
- Pay-for-performance alignment: John’s cash incentive is fully tied to U.S. heart failure revenue, directly linking his variable pay to the CRO mandate; his 2024 payout at 93% of target suggests revenue progress but below plan on a full-year basis .
- Retention and selling pressure: His equity is entirely time-vested options with first 25% vesting at the first anniversary of June 27, 2024 and monthly thereafter; near-term vest events could create incremental liquidity windows if options are in-the-money, though company hedging/pledging prohibitions mitigate risk of forced or hedged sales .
- Alignment and skin-in-the-game: As of April 7, 2025, John reported 0 beneficially owned shares; his alignment today is predominantly through unvested options, increasing forward-looking retention incentives but providing limited current ownership exposure .
- Change-in-control economics: Non-CEO NEO terms feature standard double-trigger cash severance (12 months base + 100% target bonus) and equity vesting upon qualifying termination in the Protection Period—sufficient to reduce deal-related personal risk while avoiding single-trigger accelerations that can misalign incentives around strategic transactions .