Bilal Zuberi

About Bilal Zuberi

Independent director of EVLV since July 2021; age 49; Founder and Managing Partner at Red Glass Ventures (since Feb 2025) following a decade as General Partner at Lux Capital (2013–Feb 2025). Holds a Ph.D. in Physical Chemistry from MIT (2003) and a B.S. in Chemistry from the College of Wooster (1998). Board determined him independent under Nasdaq rules; currently nominated as a Class I director for a term through the 2028 annual meeting .

Past Roles

External Roles

Board Governance

• Committee assignments (2025): Nominating & Corporate Governance Committee member; not a chair. Committee membership matrix confirms Zuberi (X) on Nominating; Audit Chair: Sheehy; Compensation Chair: Charlton; Nominating Chair: Shapiro; Investment Chair: Charlton .
• Independence: Board determined Bilal Zuberi is independent; all Audit and Compensation Committee members meet heightened independence standards under Nasdaq .
• Attendance and engagement: Board held 24 meetings in 2024; each director attended ≥75% of Board and relevant committee meetings. Nominating & Corporate Governance Committee met 4 times; Compensation Committee met 4 times; Audit Committee met 7 times; Investment Committee met 4 times .
• Risk oversight: Nominating & Corporate Governance oversees independence and potential conflicts; Audit reviews related-person transactions; Compensation oversees incentive plan risks; Investment oversees financial risk management .

Fixed Compensation

• Policy: Annual cash retainer $40,000; committee member fees—Nominating & Corporate Governance ($5,000), Audit ($8,000), Compensation ($5,000), Investment ($5,000); chair premiums—Audit ($20,000), Compensation ($12,000), Nominating ($10,000), Investment ($10,000); Chair of the Board add-on $40,000. Annual director equity grant valued at $155,000 in RSUs, granted on annual meeting date .
• Actual 2024 Director Compensation (Bilal Zuberi):

Performance Compensation

• Equity award structure (non-employee directors): Annual RSU grant with grant-date value $155,000; vests in full on the earlier of (A) first anniversary of grant date or (B) date preceding next annual meeting; accelerates on change in control per 2021 Plan .
• 2024 grant detail (Bilal Zuberi):

Other Directorships & Interlocks

• Current public company board: Desktop Metal (NYSE:DM); Audit Committee member since Dec 2020 .
• Network considerations: Extensive venture portfolio involvement (Lux Capital; Red Glass Ventures). EVLV’s Nominating & Corporate Governance Committee explicitly oversees independence and conflicts; Audit Committee reviews related-person transactions under policy .

Expertise & Qualifications

• Advanced technical education (MIT Ph.D. in materials/analytical chemistry) and broad deep-tech investing/operator background; experience with physical infrastructure and technology companies cited by EVLV as qualification for board service .
• Prior service on private-company boards, including audit and compensation committee participation .

Equity Ownership

• Shares outstanding basis: 163,470,325 Class A shares as of April 21, 2025 .
• Director stock ownership guidelines: Minimum 5x annual cash retainer within five years; as of April 21, 2025, each non-employee director was in compliance or had time to comply .
• Anti-hedging and pledging policy: Adopted; part of governance best practices .

Governance Assessment

• Strengths

  • Clear independence and role specificity: Independent director with focused service on Nominating & Corporate Governance Committee; committee meets regularly and oversees board effectiveness and conflicts of interest .
  • Attendance expectations met: Board notes ≥75% attendance for all directors; meaningful board cadence (24 meetings in 2024) and active committee oversight .
  • Alignment mechanisms: Annual RSU grants, stock ownership guidelines (5x retainer), and anti-hedging/pledging policy support alignment with shareholder interests .

• Watch items / potential conflict monitoring

  • Venture/board interlocks: Ongoing roles across venture-backed ecosystems and DM board seat warrant monitoring for any future EVLV transactions with portfolio companies; mitigants include Audit Committee related-party review and Nominating Committee conflict oversight .
  • Ownership scale: Beneficial ownership <1% of outstanding; while guidelines enforce minimum holdings, actual ownership remains small relative to float—continue to track RSU vesting and accumulation under policy .

• RED FLAGS

  • No Item 404 related-party transactions disclosed for Zuberi in the sections surfaced; compensation committee members reported no relationships requiring Item 404 disclosure (Zuberi is not on that committee). Continue monitoring the “Certain Relationships and Related Person Transactions” disclosures in future proxies for changes .