Greg Fluet
About Gregory J. Fluet
Gregory J. Fluet is an independent director of Electromed, Inc. (ELMD) serving since 2019; he is currently Chief Operating Officer of Ferring Microbiome Inc. (fka Rebiotix, Inc.) and previously served as Chief Business Officer at Rebiotix (2017–2018) and CEO of Urologix, Inc. . He holds a BS in Mechanical Engineering from Stanford University, is age 56, and brings medical device operating and M&A experience to the Board . The Board has affirmatively determined that Mr. Fluet is independent under NYSE American rules .
Past Roles
| Organization | Role | Tenure/Timing | Committees/Impact |
|---|---|---|---|
| Ferring Microbiome Inc. (fka Rebiotix, Inc.) | Chief Operating Officer | “Since 2016” involvement at Rebiotix and current COO at Ferring Microbiome | Microbiome-based therapeutics operating leadership |
| Rebiotix, Inc. | Chief Business Officer | 2017–2018 (until acquisition by Ferring) | Business development and transaction execution |
| Urologix, Inc. (public company) | Chief Executive Officer; Interim CFO; EVP & COO | Dates not fully specified (pre-2016) | Turnaround and commercial operations leadership in BPH therapies |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Urologix, Inc. (Nasdaq: ULGX) | Director | 2013–2016 | Prior public company directorship |
Board Governance
- Independence: Independent director (NYSE American definition) .
- Attendance: Each director attended at least 75% of Board and committee meetings in fiscal 2025; all directors attended the Nov 15, 2024 annual meeting .
- Board leadership: Chair of the Board is Kathleen S. Skarvan; Lead Independent Director is Kathleen A. Tune (appointed Nov 10, 2023), who presides over executive sessions .
- Committee service:
- Audit Committee member (Audit Committee: Erickson–Chair; Fluet; Tune) in fiscal 2024 and fiscal 2025 .
- Nominating & Governance Committee Chair and Finance & Strategy Committee Member in fiscal 2023 .
| Fiscal Year | Audit | Nominating & Governance | Personnel & Compensation | Finance & Strategy | Chair Roles |
|---|---|---|---|---|---|
| 2023 | Member | Chair | — | Member | Nominating & Governance Chair |
| 2024 | Member (Erickson–Chair; Fluet; Tune) | — | — | — | — |
| 2025 | Member (Erickson–Chair; Fluet; Tune) | — | — | — | — |
Governance signals:
- Director election support (Nov 14, 2025): For 4,686,278; Withheld 356,474; Broker non-votes 1,416,368—indicating strong, though not unanimous, investor support .
- Company anti-hedging/pledging policy applies to directors (no pledging; no hedging; no derivatives) .
Fixed Compensation
Annual retainers (fiscal 2025, unchanged from fiscal 2024):
| Director Compensation Element | Amount |
|---|---|
| Board Member | $35,000 |
| Board Chair | $30,000 |
| Lead Independent Director | $22,500 |
| Audit Committee Chair | $15,000 |
| Personnel & Compensation Chair | $10,000 |
| Nominating & Governance Chair | $7,000 |
| Finance & Strategy Chair | $7,000 |
| Audit Committee Member | $5,000 |
| Personnel & Compensation Member | $5,000 |
| Nominating & Governance Member | $2,000 |
| Finance & Strategy Member | $2,000 |
Actual director fees and equity (Fluet):
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Cash Fees ($) | $49,000 | $49,000 | $49,000 |
| Stock Awards Fair Value ($) | $29,580 | $31,320 | $92,340 |
| Total ($) | $78,580 | $80,320 | $141,340 |
Notes:
- Annual director equity grants: 3,000 restricted shares granted on/around the annual meeting, vesting in full six months after grant (e.g., Dec 1, 2024 grant vested six months later) .
Performance Compensation
- Non-employee directors do not have performance-based pay; compensation comprises cash retainers and time-based restricted stock grants .
| Performance Metric (Directors) | Presence in Director Pay Plan |
|---|---|
| Revenue/EBITDA/TSR-based director awards | None disclosed |
Other Directorships & Interlocks
| Company | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Urologix, Inc. | Public (former) | Director (2013–2016) | None disclosed with ELMD’s current customers/suppliers |
No related-party transactions involving Mr. Fluet were disclosed; the only reported RPT involved a parts supplier controlled by former director/5% holder Stephen H. Craney with payments of $1.377M (FY25) and $2.051M (FY24), overseen by the Audit Committee .
Expertise & Qualifications
- Mechanical engineer (Stanford) with medical device operating and financial experience (CEO/COO/CBO; interim CFO), including M&A and investor relations .
- Audit oversight experience (Audit Committee member; not designated the financial expert—Erickson is) .
- Board governance leadership (former Nominating & Governance Chair; member Finance & Strategy—strategy and capital allocation oversight) .
Equity Ownership
| Holder | Beneficial Shares | % of Outstanding | Source Date |
|---|---|---|---|
| Gregory J. Fluet | 18,000 | ~0.21% (18,000 / 8,376,147) | Sept 17, 2025 |
Additional alignment considerations:
- Annual director RSU grants (3,000 shares) vest in six months; FY25 director grants vested within the year, reinforcing equity participation .
- Company policy prohibits pledging, hedging, short sales, and derivatives by directors, strengthening alignment .
Governance Assessment
Strengths
- Independence and multi-committee service (Audit in 2024–2025; prior Nominating Chair and Finance & Strategy member), supporting board effectiveness and oversight breadth .
- Solid shareholder support: 4.69M “For” votes in 2025 director election; advisory say-on-pay approved (4.71M For) with board continuing annual votes—indicates healthy investor confidence in governance and pay practices .
- Anti-hedging/pledging policy reduces alignment risks; director equity grants provide skin-in-the-game .
Watch items / potential red flags
- Not designated as Audit Committee financial expert; continued reliance on Erickson for financial expertise—monitor committee composition balance .
- No specific director stock ownership guidelines disclosed; while equity grants exist, absence of explicit guidelines for directors may limit formal alignment requirements .
- Prior vendor RPT (Craney-controlled supplier) is monitored by Audit Committee; no involvement by Fluet, but continued oversight remains prudent .
Shareholder feedback and say-on-pay context
- Prior advisory say-on-pay supported (approx. 91% in 2024), with 2025 vote results showing strong approval; Board to keep annual frequency—positive governance signal .