Sriram Peruvemba
About Sriram Peruvemba
Independent director (age 60) serving on Datavault AI Inc.’s Board since June 2020. He is CEO of Marketer International Inc. (since July 2014) and a long-time display and electronics industry executive, formerly Chief Marketing Officer at E Ink Holdings. Education includes a Bachelor’s in Engineering (Bangalore University), an MBA (Wichita State University), and a post‑graduate diploma in management (IGNOU). Known for expertise in electronic displays, haptics, touch screens, electronic materials, and related hardware technologies, advising tech firms across the U.S., Canada, and Europe .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| E Ink Holdings | Chief Marketing Officer | Not disclosed (prior role) | Led marketing; instrumental in scaling the company beyond $1B valuation |
| Society for Information Display (SID) | Board member; Chair of Marketing | Aug 2014 – Jul 2020 | Industry leadership and outreach |
External Roles
| Organization | Role | Tenure | Public/Private | Notes |
|---|---|---|---|---|
| Marketer International Inc. | Chief Executive Officer | Jul 2014 – Present | Not disclosed | Marketing services firm |
| Visionect d.o.o | Board member | Sep 2017 – Present | Not disclosed | Electronic display solutions |
| Omniply Technologies | Board member | May 2020 – Present | Not disclosed | Advanced materials/electronics |
| Edgehog Technologies | Board member | Jan 2023 – Present | Not disclosed | Displays/optics technology |
| SmartKem Inc. | Board member | Jul 2023 – Present | Not disclosed | Semiconductor materials |
| Azumo | Board member | Jul 2023 – Present | Not disclosed | Display lighting tech |
No related-party transactions disclosed involving Mr. Peruvemba in DVLT’s proxy; related-party items pertain to other directors/officers (EOS, Hansong Technology, Meriwether) .
Board Governance
- Independence: Board affirmed Mr. Peruvemba is independent under Nasdaq Rule 5605; he also meets audit committee independence under Rule 10A‑3 .
- Committee assignments: Audit Committee member; Compensation Committee Chair; not a member of Nominating & Corporate Governance .
- Attendance: In FY2024, no incumbent directors attended fewer than 75% of Board and committee meetings for which they served; Board held four meetings .
- Lead Independent Director: DVLT does not have a lead independent director .
Fixed Compensation
| Year | Cash Retainer (USD) | Committee/Chair Fees | Meeting Fees | Total Cash |
|---|---|---|---|---|
| 2024 | $20,000 | Not disclosed (no separate line items) | Not disclosed | $20,000 |
Proxy lists “Fees Earned or Paid in Cash” only; no separate disclosures of chair or meeting fees .
Performance Compensation
| Grant Type | Grant Date | Shares Granted | Grant-Date Fair Value (USD) | Vesting Start | Vesting Schedule | Vesting End |
|---|---|---|---|---|---|---|
| Restricted Common Stock | Jun 7, 2024 | 4,616 | Included in $44,090 total 2024 stock awards | Sep 20, 2024 | Equal installments every 3 months | Sep 20, 2027 |
| Restricted Common Stock | Jul 30, 2024 | 7,541 | Included in $44,090 total 2024 stock awards | Dec 20, 2024 | Equal installments every 3 months | Dec 20, 2027 |
| Restricted Common Stock | Nov 12, 2024 | 7,422 | Included in $44,090 total 2024 stock awards | Mar 15, 2025 | Equal installments every 3 months | Mar 15, 2028 |
| Summary | 2024 Total | 19,579 | $44,090 | — | Time-based vesting; no performance metrics disclosed | — |
DVLT does not disclose any performance-based metrics (e.g., TSR, EBITDA) tied to director equity; grants are time‑based restricted stock .
Other Directorships & Interlocks
| External Company | Role | Potential Interlock/Conflict with DVLT |
|---|---|---|
| Visionect d.o.o; Omniply Technologies; Edgehog Technologies; SmartKem Inc.; Azumo | Board member | No DVLT-related party transactions disclosed involving Mr. Peruvemba |
Expertise & Qualifications
- Technical/operator background across displays, haptics, touch, electronic materials; 30+ years in technology industries .
- Education: BE (Bangalore University), MBA (Wichita State), PG Diploma in Management (IGNOU) .
- Prior executive experience scaling E Ink; global advisory work to hardware firms .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Sriram Peruvemba | 120,362 | <1% |
- Hedging policy: Company prohibits insiders (including directors) from engaging in hedging transactions under its insider trading policy .
- Pledging: No pledging by Mr. Peruvemba disclosed; no director-specific pledging disclosure in proxy .
Governance Assessment
- Positive signals:
- Independent status and dual governance roles (Audit Committee member; Compensation Committee Chair) support board oversight balance .
- Attendance threshold met across Board/committees in FY2024; Audit Committee convened four times, including executive sessions with auditors, indicating active financial oversight .
- Director pay mix skews to equity (2024: $44,090 stock vs $20,000 cash), aligning incentives with shareholder value over time via multi‑year vesting .
- Watch items / potential red flags:
- Compensation Committee held no formal meetings in 2024 (actions via unanimous written consent) and does not use an independent compensation consultant—could raise diligence/independence concerns; as Chair, Mr. Peruvemba should ensure robust process and external benchmarking .
- Absence of a lead independent director limits structured independent leadership amid major capital actions (e.g., authorized share increase, Scilex pre‑funded warrant context) .
- No disclosure of director ownership guidelines or pledging prohibitions beyond general hedging policy, reducing transparency on “skin‑in‑the‑game” expectations .
No related‑party transactions identified for Mr. Peruvemba; transactions disclosed involve EOS (CEO/related party), Hansong Technology (Kristensen), and Meriwether (Howitt). Audit Committee oversees related party transaction approvals under a written policy .