Michael Coyle
HAEMONETICSAbout Michael J. Coyle
Independent director, age 63, serving on Haemonetics’ Board since April 2020; currently a member of the Audit and Technology Committees . Former President & CEO of iRhythm Technologies (Jan–Jun 2021); previously EVP & Group President, Cardiac & Vascular Group at Medtronic (Dec 2009–Jan 2021); President, Cardiac Rhythm Management at St. Jude Medical (2001–2007); earlier roles at St. Jude and Eli Lilly . He holds six U.S. patents related to cardiovascular medical devices, bringing deep operating and technology experience relevant to HAE’s innovation agenda . The Board affirmed his independence under SEC/NYSE standards; executive sessions of independent directors are held each quarterly meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| iRhythm Technologies, Inc. | President & CEO | Jan 2021 – Jun 2021 | Led digital healthcare company; prior board service at iRhythm |
| Medtronic plc | EVP & Group President, Cardiac & Vascular Group | Dec 2009 – Jan 2021 | Oversaw four business divisions; strategic planning, ERM, market development, international ops |
| St. Jude Medical, Inc. | President, Cardiac Rhythm Management | 2001 – 2007 | Senior operating leadership; earlier roles at St. Jude |
| Eli Lilly & Company | Leadership roles | Not disclosed | Early career; pharma/device experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| iRhythm Technologies, Inc. | Director (prior) | Not disclosed | Prior public company board service |
| Two NASDAQ-listed medical device companies (catheter-based) | Director (prior) | Not disclosed | Prior public company board service; names not disclosed |
| Current other public company boards | None disclosed | N/A | No current external board listed for Coyle in proxy |
Board Governance
- Committee assignments: Audit (member) and Technology (member); not a committee chair .
- Audit Committee financial expert designation: Dockendorff (Chair) and Johnson are designated; Coyle is not listed as an “audit committee financial expert” .
- Independence: Board determined all directors except the CEO were independent under SEC/NYSE standards in FY2025 .
- Attendance and engagement: Each director attended at least 75% of Board and committee meetings; all directors attended the 2024 Annual Meeting .
- Executive sessions: Independent directors held executive sessions at each regular quarterly Board meeting; Board Chair presided .
- Board service limits: No director may serve on >4 other public boards without approval; audit committee service limits affirmed; compliance noted for all directors .
| Meetings (FY2025) | Board | Audit | Compensation | Governance & Compliance | Technology |
|---|---|---|---|---|---|
| Regular | 4 | 4 | 4 | 4 | 4 |
| Special | 3 | 5 | 1 | 0 | 0 |
| Total | 7 | 9 | 5 | 4 | 4 |
Fixed Compensation
- Structure (non-employee directors): $55,000 annual retainer + $10,000 meeting retainer covering up to 8 Board meetings; additional fees if >8 meetings ($2,000 per live meeting; $750 telephonic). Committee Chair retainers: Audit $20,000; Compensation $15,000; Governance & Compliance and Technology $10,000. Committee meeting fees (members): Audit $12,000 (≤12 meetings), Compensation $9,000 (≤8), Governance & Compliance $6,000 (≤8), Technology $6,000 (≤8). Board Chair retainer: $250,000 (in lieu of standard fees) . No retirement benefits or perquisites for directors .
| Fiscal Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|
| FY2024 (ended Mar 30, 2024) | $83,750 | $199,984 | $283,734 |
| FY2025 (ended Mar 29, 2025) | $83,000 | $199,954 | $282,954 |
Performance Compensation
- Annual director equity: Approx. $200,000 in RSUs; RSUs vest on the first anniversary of grant; prorated grants for off-cycle elections .
- Performance metrics: Director equity is time-based RSUs; no performance metrics disclosed for director compensation .
| Grant Detail | FY2023 Grant | FY2024 Grant |
|---|---|---|
| Grant date | Aug 4, 2023 | Jul 25, 2024 |
| RSUs (#) | 2,226 | 2,207 |
| Grant date fair value ($) | $199,984 | $199,954 |
| Vesting | 100% at 1-year anniversary | 100% at 1-year anniversary |
Other Directorships & Interlocks
- Compensation Committee interlocks: None; no insider participation in Compensation Committee in FY2025 and FY2024 .
- Current public company boards: None disclosed for Coyle .
- Prior public company boards: iRhythm; two NASDAQ-listed medical device companies (catheter-based) .
Expertise & Qualifications
- 6 U.S. patents in cardiovascular medical devices; deep R&D and product development expertise .
- Executive leadership across large global medtech businesses; strategic planning, ERM, market development, international ops experience .
- Audit Committee member (financial literacy required by NYSE standards) .
Equity Ownership
| Snapshot (as of May 27, 2025) | Value |
|---|---|
| Common shares beneficially owned (#) | 12,701 |
| Percent of class | <1% |
| Unvested RSUs held (#) | 2,207 |
| RSUs vesting within 60 days (#) | 2,207 |
| Stock ownership guideline (Non-employee directors) | 5x annual cash retainer |
| Compliance status | Compliant |
| Shares pledged/hedged | No pledging disclosed in proxy |
Governance Assessment
- Independence and engagement: Coyle is independent, serves on two oversight-intensive committees (Audit, Technology), and met the company’s attendance expectations in a year with 9 Audit and 4 Technology meetings, with independent executive sessions held quarterly—supportive of board effectiveness and investor confidence .
- Alignment and incentives: Director pay mix skews toward equity via annual RSUs ($200k) and modest cash fees ($83k), combined with a 5x retainer ownership guideline and “Compliant” status—favorable alignment with long-term shareholder interests .
- Conflicts and interlocks: No compensation committee interlocks or related-party transactions involving Coyle are disclosed; Audit Committee oversees related-party review, mitigating conflict-of-interest risk .
- RED FLAGS: None evident in proxy disclosures for Coyle (no pledging; no performance-insensitive guarantees beyond standard board fees; no interlocks or related-party exposure disclosed) .