David Green
About David Green
David Green (age 60) is an independent director of Harvard Apparatus Regenerative Technology, Inc. (HRGN), serving on the Board since November 26, 2021 . He is the founder and former Chairman, President, and CEO of HRGN, and previously served as President and Director of Harvard Bioscience, Inc., with interim CEO stints in 2013; his background spans strategy consulting (Monitor Company) and brand management (Unilever) . He holds a BA (Hons) in Physics from Oxford and an MBA with distinction from Harvard Business School . The Board has determined he is “independent” under Nasdaq rules (HRGN is not listed on Nasdaq), and all directors attended at least 75% of Board/committee meetings in 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Harvard Bioscience, Inc. | President; Director; Interim CEO (May & Aug 2013) | 1996–Nov 1, 2013 (President/Director); Director until 2017 | Led spin-off of HRGN; public company leadership |
| Harvard Apparatus Regenerative Technology, Inc. | Founder; former Chairman, President, CEO; Director | Founder; executive roles prior to 2016; Director since Nov 26, 2021 | Founding leadership; currently independent director |
| Monitor Company | Strategy Consultant | Jun 1991–Sep 1995 | Corporate strategy expertise |
| Unilever PLC | Brand Manager (Household Products) | Sep 1985–Feb 1989 | Consumer products marketing |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Zero Carbon LLC | Founder and President | Current | Energy and carbon-emissions consulting |
| 350 Massachusetts | State Legislative Team Member | Current | Climate policy engagement |
| HBS Healthcare Alumni Association | President and Director | Prior | Industry network leadership |
Board Governance
- Independence: HRGN Board determined seven directors are independent; only the CEO is not independent, implying Green is independent .
- Committee assignments: Green is not currently listed as a member of Audit, Compensation, or Governance Committees (members named exclude him) .
- Attendance and engagement: Board met 13 times in 2024; each director attended ≥75% of Board/committee meetings; all directors attended the 2024 Annual Meeting; non‑employee directors meet regularly in executive session .
- Board leadership context: CEO serves as Chair; Vice Chair role held by Jason Jing Chen; Board periodically evaluates leadership structure .
| Committee | 2024 Membership Status for David Green | Committee Chair |
|---|---|---|
| Audit | Not a member | Ronald Packard |
| Compensation | Not a member | James Shmerling |
| Governance | Not a member | Jason Jing Chen |
Fixed Compensation
| Component (Director) | 2024 Amount | Notes |
|---|---|---|
| Cash fees (retainer/meeting/committee) | $0 | HRGN compensates non‑employee directors via option grants in lieu of cash fees |
| Option awards (grant-date fair value) | $45,000 | Vest quarterly over one year per policy |
| Expense reimbursement | Provided | Reimbursed for Board/committee meeting expenses |
Performance Compensation
| Grant Type | Grant Date | Value/Shares | Vesting Schedule |
|---|---|---|---|
| Annual Director Option | Jun 27, 2024 | $45,000 grant-date fair value | Vests in full in quarterly increments over one year from grant date |
| Policy – Annual Option (regular director) | 5th business day after annual meeting | $20,000 grant-date value | Vests quarterly over one year |
| Policy – Additional Annual Option | 5th business day after annual meeting | $25,000 grant-date value | Vests quarterly over one year |
| Policy – Initial Option (post-Oct 2023 amendment; contingent) | Upon appointment | 20,000 shares (regular); 30,000 shares (Chair/AC Chair) | Vests quarterly over one year; effective only upon qualifying private placement ≥$10M including common stock |
No director PSUs/RSUs, performance metrics (TSR/EBITDA), or option performance conditions disclosed for non‑employee directors; vesting is time‑based per policy .
Other Directorships & Interlocks
| Company | Public/Private | Role | Tenure | Potential Interlock |
|---|---|---|---|---|
| Harvard Bioscience, Inc. | Public | Director | Until 2017 | Former parent of HRGN; no current related‑party transactions disclosed |
| HRGN | Public | Director | 2021–present | N/A |
Expertise & Qualifications
- Education: BA (Hons) Physics, Oxford; MBA with distinction, Harvard Business School .
- Domain skills: Public company leadership, finance/operations, strategy consulting, and commercialization; founding experience in regenerative technology and climate consulting .
- Board qualifications cited by HRGN: Extensive CEO/CFO‑related leadership and public company experience .
Equity Ownership
| Ownership Element | Amount | Notes |
|---|---|---|
| Beneficial ownership (shares) | 746,998 | 4.5% of outstanding shares |
| Common stock held | 175,329 | Direct ownership component |
| Warrants | 67,905 | Included in beneficial ownership |
| Options exercisable within 60 days | 503,764 | Counted in beneficial ownership per SEC rules |
| Shares outstanding (record date) | 15,918,979 | As of Apr 21, 2025 |
| Anti‑hedging policy | Hedging/short sales prohibited for directors | Insider Trading Policy prohibits hedging/short sales; pre‑clearance required |
Section 16(a) compliance: Independent board members filed a Form 4 late (reporting a 6/27/2024 option grant) on 7/15/2024; HRGN notes this tardiness in its proxy .
Governance Assessment
- Alignment: Option‑only director pay and Green’s 4.5% beneficial ownership suggest equity alignment; time‑based vesting avoids discretionary cash fees .
- Independence and engagement: Green is deemed independent, with Board‑wide attendance ≥75% and participation in executive sessions, supporting investor confidence in oversight .
- Oversight influence: Not serving on Audit/Comp/Governance committees limits direct committee oversight leverage; investors should monitor how influence is exerted at the full Board level .
- Compliance signal: The late Form 4 filing for independent directors (including the 6/27/2024 grant) is a minor compliance blemish; HRGN disclosed it and remains otherwise timely in 2024 .
- Conflicts/related parties: No related‑party transactions requiring disclosure since 2024 other than a CEO bridge loan settled in cash; no David Green‑specific related‑party dealings disclosed, mitigating conflict risk .
- Governance trajectory (context): Board pursuing declassification and a special‑meeting right (35% threshold), which enhances annual accountability and shareholder rights; while not specific to Green, these initiatives shape the governance environment he operates within .