Paul Buckman
About Paul Buckman
Independent director of HSDT (now Solana Company f/k/a Helius Medical Technologies). Buckman joined the Board in September 2021 and brings 30+ years of medtech operating and board experience, including multiple CEO roles and large-cap divisional leadership; age 68 as disclosed in the 2024 proxy . He serves as Audit Committee Chair and is designated an “audit committee financial expert”; he also sits on Compensation and Nominating & Corporate Governance committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LivaNova PLC (Nasdaq: LIVN) | President, North America; previously GM, Structural Heart | President since Apr 2019; GM Apr 2017–Dec 2019 | Senior P&L leadership at global medtech; market-facing operational oversight |
| Conventus Orthopaedics | Chief Executive Officer | Sep 2013–Mar 2017 | Led peri‑articular fracture fixation business |
| SentreHeart, Inc. | Chief Executive Officer | Feb 2012–Sep 2013 | Closure-device focus; CEO leadership |
| Pathway Medical Technologies | Chairman & CEO | Sep 2008–Feb 2012 | Peripheral arterial disease devices; strategic leadership |
| Devax, Inc. | Chief Executive Officer | Dec 2006–Sep 2008 | Bifurcation stent developer |
| St. Jude Medical | President, Cardiology Division | Aug 2004–Dec 2006 | Large-cap divisional leadership |
| ev3, LLC | Founder, Chairman & CEO | Jan 2001–Jan 2004 | Grew to ~$80M revenue; endovascular therapies |
| Boston Scientific/Scimed | Multiple executive roles; President, Cardiology (Jan 2000) | 10 years prior to 2000 | Large-scale cardiology franchise management |
External Roles
| Company | Role | Public/Private | Notes |
|---|---|---|---|
| Miromatrix, Inc. (Nasdaq: MIRO) | Chairman | Public | Regenerative medicine; current chairmanship |
| NeuroOne Medical Technologies (Nasdaq: NMTC) | Chairman | Public | Neuro device company; current chairmanship |
| Ablative Solutions, Inc. | Director | Private | Current directorship |
| ActivOrtho | Director | Private | Current directorship |
| Shoulder Innovations | Director | Private | Current directorship |
| Prior boards (selected) | Director/Chair roles | Public/Private | Conventus Orthopaedics; Caisson Interventional; Velocimed (co‑founder); EndiCor; Microvena; Sunshine Heart/Nuwellis; NexGen Medical; Micro Therapeutics; NeuroOne (prior to chair role) |
Board Governance
- Independence: The Board determined all director nominees other than management directors (CEO Andreeff and CFO Mathiesen) were independent under Nasdaq rules; Buckman served as an independent director in 2024 . All Audit and Compensation Committee members (including Buckman) are independent under SEC/Nasdaq standards .
- Committee assignments (current): Buckman chairs Audit and is a member of Compensation and Nominating & Corporate Governance .
| Committee | Role | Notes |
|---|---|---|
| Audit | Chair; financial expert | Designated “audit committee financial expert”; Audit met 5 times in 2024 |
| Compensation | Member | Committee met once in 2024 |
| Nominating & Corporate Governance | Member | Committee met once in 2024 |
- Attendance: The Board met four times in 2024; each current director who served in 2024 attended at least 75% of aggregate Board and committee meetings during their service period .
- Board leadership: As of Oct 2025, the Chair is Joseph Chee (not independent); the Board cites separation of Chair/CEO as current structure. In 2024, the Chair was independent director Blane Walter, indicating a shift in leadership dynamics in 2025 .
Fixed Compensation
Policy and 2024 actuals for non-employee directors.
| Element | Policy | 2024 Actual – Buckman |
|---|---|---|
| Board cash retainer | $35,000/year (Chair: $68,000) | Included in cash below |
| Committee chair fees | Audit $16,000; Comp $10,000; Nominating $7,500 | Included in cash below |
| Committee member fees | Audit $8,000; Comp $5,000; Nominating $5,000 | Included in cash below |
| Equity retainer | Target ~$50,000; 70% options (monthly 1/12 vest), 30% RSUs (monthly 1/12 vest) | 2024 exception: options plus cash equal to $50,000 minus Black‑Scholes value (RSUs replaced) |
| Cash actually paid (2024) | — | $66,951 |
| Option awards FV (2024) | — | $26,195 |
| Total (2024) | — | $93,146 |
Notes:
- 2024 equity structure change for directors: In lieu of RSUs, the Board received additional options plus a cash top‑up equal to $50,000 minus Black‑Scholes option value on grant date, signaling emphasis on options with a cash adjustment for value parity .
Performance Compensation
Directors are not paid based on operating or TSR performance metrics; equity is time-based and intended to align interests.
| Component | Metric/Terms | Vesting | 2024 Treatment |
|---|---|---|---|
| Annual equity retainer | Fixed target value ~$50,000; 70% in options, 30% in RSUs (typical policy) | Monthly ratable (1/12) for both options and RSUs | RSUs replaced by options; cash equal to $50,000 minus option value paid (no performance metrics) |
Other Directorships & Interlocks
- Current public company roles: Chairman at Miromatrix (MIRO) and NeuroOne (NMTC); no disclosed HSDT related‑party transactions arising from these roles .
- Private company boards: Ablative Solutions, ActivOrtho, Shoulder Innovations .
- No shared directorships disclosed with HSDT’s major customers/suppliers; Audit Committee oversees related‑party review under the company’s policy .
Expertise & Qualifications
- Designated Audit Committee Financial Expert; extensive operational finance oversight through senior roles and multiple CEO tenures in medtech; deep cardiology and structural heart domain experience .
- Governance skills span audit oversight, compensation, and nominating processes, with prior chairmanships implying board leadership experience .
Equity Ownership
Beneficial ownership and alignment indicators.
| As of | Shares Beneficially Owned | % of Class | Detail/Breakdown |
|---|---|---|---|
| Oct 1, 2025 | 2,666 | <1% | Includes 2 common shares + 2,664 options exercisable within 60 days |
| Dec 31, 2024 (options held) | — | — | Held options to purchase 37,180 shares (total outstanding options) |
Additional alignment and policy context:
- Anti‑hedging/monetization: Company insider trading policy prohibits hedging/monetization transactions for directors (e.g., collars, forwards) .
- Clawback: Board adopted a compensation recovery policy applicable to Section 16 officers following restatements (three‑year lookback) .
- No pledging or stock ownership guidelines for directors were disclosed in the proxy materials reviewed; no Buckman‑specific pledging or related‑party transactions disclosed .
Governance Assessment
-
Strengths
- Independence and expertise: Buckman is an independent director with “audit committee financial expert” designation and chairs the Audit Committee; committees where he serves are fully independent, supporting oversight quality .
- Engagement: Board and committee attendance thresholds met in 2024 (≥75%), indicating acceptable engagement levels .
- Risk controls: Anti‑hedging and clawback policies in force; Audit Committee charter explicitly covers related‑party transaction review, enhancing conflict oversight under Buckman’s audit chairmanship .
-
Watch items
- Board leadership changed in 2025 to a non‑independent Executive Chair (Joseph Chee), while committees remain independent; this elevates the importance of strong committee leadership and executive session practices for independent oversight .
- Multiple external chair/director roles create potential overboarding/time‑commitment risk, though not specifically flagged by the company; continued monitoring of attendance and committee workload is warranted .
- No director stock ownership guidelines disclosed; 2024 director pay mix leaned more toward cash due to RSU replacement mechanism, though options remained part of the package (alignment through options persists) .
-
Conflicts/related‑party exposure
- No related‑party transactions involving Buckman disclosed for 2024–2025; company maintains a formal related‑person transaction policy overseen by the Audit Committee .
-
Say‑on‑pay context (company-wide signal)
- Last say‑on‑pay (2021) received 92.2% approval; next vote due by 2027—indirectly supportive of governance/compensation practices during Buckman’s tenure .
OUR SOURCES: All data above are drawn from HSDT/Solana Company DEF 14A filings dated May 31, 2024 and October 14, 2025, as cited inline.