Erik Strandberg
About Erik Strandberg
Erik Strandberg is Chief Commercial Officer at EBR Systems, Inc. (EBRCZ), serving since April 2024; he is 46 and holds a B.S. in Finance from Florida State University . He brings two decades of device-commercialization experience across cardiac rhythm management and atrial fibrillation markets from AtriCure, Boston Scientific, St. Jude Medical, and Guidant . Company operating context during his tenure includes continued commercialization investments and negative Adjusted EBITDA of -$10.6M in Q3 2025, with a net loss of -$12.2M for the quarter .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AtriCure (NASDAQ: ATRC) | Senior Vice President, Hybrid Therapies Division | Jul 2018 – Apr 2024 | Led promotion and sales initiatives for AF treatment portfolio; built relationships across physicians and hospital executives |
| Boston Scientific (NYSE: BSX) | Commercial launch lead for Watchman LAA Closure | Aug 2015 – Jul 2018 | Helped execute the commercial launch strategy of Watchman |
| St. Jude Medical | Leadership roles in CRM/EP/Heart Failure | Not disclosed | Commercial leadership in Cardiac Rhythm Management, EP, and Heart Failure |
| Guidant Corporation | Leadership roles in CRM/EP/Heart Failure | Not disclosed | Commercial leadership in Cardiac Rhythm Management, EP, and Heart Failure |
Company Operating Performance (context for CCO role)
| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| Net loss ($USD thousands) | $ (10,056) | $ (12,189) |
| Adjusted EBITDA ($USD thousands) | $ (8,063) | $ (10,563) |
| Metric | 9M 2024 | 9M 2025 |
|---|---|---|
| Net loss ($USD thousands) | $ (30,700) | $ (34,710) |
| Adjusted EBITDA ($USD thousands) | $ (25,523) | $ (30,096) |
Notes: SG&A increased materially with workforce expansion post FDA approval of WiSE CRT; R&D decreased as development testing and certain overheads were capitalized . Working capital was $71.9M as of Sep 30, 2025, supported by CDI sales and inventory capitalization .
Fixed Compensation
- Strandberg-specific base salary, target bonus %, and actual bonus paid were not disclosed in the 2025 proxy’s Summary Compensation Table (NEOs listed were CEO, CFO, COO for 2023–2024) .
- Policy overview: Executive officers generally participate in an annual cash incentive program with Board-determined targets; NEO weighting examples in 2024: CEO/CFO 40% company-wide, 40% individual, 20% TSR; COO 65% company-wide, 35% individual .
Performance Compensation
| Grant Date | Award Type | Shares | Exercise Price ($USD) | Vesting Schedule | Expiration |
|---|---|---|---|---|---|
| 04/29/2024 | Stock Option | 1,549,000 | $0.62 | 25% on 04/29/2025, remainder in 36 equal monthly installments thereafter (time-based, continuous service required) | 04/28/2034 |
- Equity plan mechanics: If the successor in a change-in-control does not assume or substitute awards, options and other awards under the Amended 2021 Plan become fully vested (Board has broad discretion; awards may be cashed out) .
- Clawback: All awards are subject to recoupment under exchange listing standards and applicable law; Board may impose additional clawback or recovery provisions .
- Anti-hedging/anti-pledging: Policy prohibits hedging transactions, margin loans, and any arrangement that can give rise to pledging/lending or using company securities as collateral .
Equity Ownership & Alignment
| Category | Quantity | Notes |
|---|---|---|
| Non-derivative common shares | Not disclosed on Form 3 | Initial statement did not list non-derivative holdings |
| Stock options outstanding | 1,549,000 | Direct ownership of option to purchase common stock |
| Exercisable vs. unexercisable at 03/24/2025 | 0 vs. 1,549,000 | First 25% tranche vests on 04/29/2025; monthly vest thereafter |
| Shares outstanding reference | 372,896,324 | Company outstanding shares as of 03/24/2025 |
| Implied fully-diluted option stake | ~0.42% | 1,549,000 ÷ 372,896,324 based on filings |
| Hedging/Pledging status | Prohibited | Company policy bans hedging and pledging arrangements |
Implications for selling pressure: Initial vest date 04/29/2025 creates event-driven vesting with monthly liquidity thereafter, subject to trading windows and insider trading policy; no Strandberg Form 4 transactions are summarized in the proxy materials reviewed here .
Employment Terms
- Role start: Chief Commercial Officer since April 2024 .
- Section 16 status: Filed Form 3 on 04/01/2025; appointed attorneys-in-fact for Section 16 filings via Power of Attorney dated 03/19/2025 .
- Severance/change-of-control: Strandberg-specific severance terms are not disclosed; at the plan level, unassumed awards under the Amended 2021 Plan accelerate on change-in-control, and clawback provisions apply .
Investment Implications
- Alignment: Large, time-based option grant with four-year vesting ties Strandberg’s upside to share price performance and continued service; anti-hedging/pledging policy reduces misalignment risk .
- Overhang and potential supply: First vest on 04/29/2025 with ongoing monthly vesting suggests incremental potential supply, gated by trading windows and policy compliance .
- Retention risk: Absence of disclosed cash severance for Strandberg increases reliance on equity for retention; plan-level full acceleration if awards aren’t assumed in a change-in-control could reduce retention post-transaction .
- Execution focus: His commercialization expertise is aligned to WiSE CRT scaling; near-term financials show SG&A ramp and negative Adjusted EBITDA, underscoring need for disciplined go-to-market and margin trajectory under his remit .