Jason Grady
About Jason Grady
Jason Grady is a director of Impact BioMedical Inc. (IBO), appointed June 7, 2024, and age 51, with an operations and commercial background across packaging and technology sectors; he holds a bachelor’s degree in Marketing and Communications and an MBA from Rochester Institute of Technology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| DSS, Inc. | Interim Chief Executive Officer | Since Oct 2024 | Led strategic vision, profitability and execution; engaged Board, investors, partners |
| DSS, Inc. | Chief Operating Officer | Aug 2019–Oct 2024 | Streamlined operations, optimized processes, drove new business development |
| Premier Packaging Corporation (DSS wholly owned) | President | Since Jul 2018 | Led folding carton and consumer packaging growth; subsidiary leadership under DSS |
| DSS, Inc. | VP Sales & Business Development | Apr 2010–Jul 2018 | Accelerated revenue growth and market expansion |
| Parlec Corporation | Vice President of Marketing | Prior to DSS (dates not specified) | Marketing leadership |
| Berlin Packaging Corporation | Director of Business Development | Prior to DSS (dates not specified) | Business development leadership |
| OutStart, Inc. | Sales and Marketing Executive | Prior to DSS (dates not specified) | Sales/marketing execution |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| DSS, Inc. (NYSE listed) | Interim CEO | Since Oct 2024 | DSS is IBO’s controlling shareholder via DSS BioHealth Securities, Inc.; significant interlock |
| Premier Packaging Corporation (subsidiary of DSS) | President | Since Jul 2018 | Operational leadership within DSS ecosystem |
Board Governance
- Committee assignments: Not listed as a member of Audit, Compensation, or Nominating & Corporate Governance committees; current committee memberships are Audit (Zimmerman—Chair; Hibbert; Keene), Compensation (Brownell—Chair; Sims; Hibbert), and Nominating & Corporate Governance (Sims—Chair; Keene; Brownell) .
- Independence: The proxy affirms independence for Audit Committee members; it does not affirm independence for Mr. Grady. He serves as Interim CEO of DSS, Inc., which (through a subsidiary) owns approximately 83.35% of IBO’s voting power—this creates a significant potential conflict/interlock with the controlling shareholder .
- Tenure: First appointed June 7, 2024; stands for annual election with all directors serving until the next annual meeting .
Fixed Compensation
| Year | Annual Retainer (Cash) | Committee/Meeting Fees | All Other Cash | Total Cash | Citation |
|---|---|---|---|---|---|
| 2024 | $0 | $0 | $0 | $0 |
The Company states it did not pay any director compensation during 2024, but the table discloses cash fees for other directors and none for Mr. Grady; Mr. Grady’s cash compensation was $0 in 2024 .
Performance Compensation
| Year | Stock/Option Awards (Fair Value) | Instrument Type | Strike | Expiration | Vesting | Notes |
|---|---|---|---|---|---|---|
| 2024 | $925 | Option (fair value under ASC 718) | $3.00 | Oct 31, 2031 | Various (plan-level) | Award values shown at director level; plan granted 880,000 options in 2024 to certain officers, directors, and consultants |
- 2023 Equity Incentive Plan: 880,000 option grants at $3.00 per share to certain officers, directors, and consultants; various vesting schedules; all options expire October 31, 2031; fair value ≈$50,000 (Black-Scholes); stock-based compensation expense ≈$19,000 for 2024 .
- Specific performance metrics tied to director equity awards: Not disclosed for directors .
Other Directorships & Interlocks
| Company | Board Role | Committee Roles | Status |
|---|---|---|---|
| None disclosed | — | — | No other public company directorships disclosed for Mr. Grady |
- Interlock/Conflict: Mr. Grady is Interim CEO of DSS, Inc., and DSS (through DSS BioHealth Securities, Inc.) owns ~83.35% of IBO’s voting power via 60,496,041 Series A Convertible Preferred shares (100% of preferred outstanding) .
- Related party exposure: DSS provides pass-through costs (≈$31,000/month through Sept 2024; ≈$26,000/month beginning Oct 2024; total $357,000 in 2024), and holds a revolving promissory note amended in 2024 (maturity Sept 30, 2030; interest WSJ Prime +0.50%; outstanding balance $8,878,000 at Dec 31, 2024) .
Expertise & Qualifications
- Education: Bachelor’s degree in Marketing and Communications (RIT); MBA (RIT) .
- Technical/functional expertise: Operations, process optimization, business development, packaging industry leadership, revenue growth execution .
Equity Ownership
| Security | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Common Stock | 182 | <1% | Based on 12,185,412 common shares outstanding as of Sep 8, 2025 |
| Series A Convertible Preferred | 0 | 0% | DSS (via subsidiary) owns 60,496,041 shares (100% of preferred) |
- Vested vs. unvested breakdown: Not disclosed for Mr. Grady .
- Options exercisable vs. unexercisable: Not disclosed at individual level; plan-level terms provided above .
- Pledging/hedging: Not disclosed .
- Ownership guidelines/compliance: Not disclosed .
Governance Assessment
- Independence risk and interlock: Mr. Grady’s current role as Interim CEO of DSS, the controlling shareholder of IBO, indicates a material interlock and potential conflict of interest with significant influence over IBO; independence for Mr. Grady is not affirmed in the proxy .
- Skin-in-the-game: Very limited personal ownership (182 common shares, <1%); 2024 option award fair value of $925 suggests low equity-based alignment at the director level, with no disclosed holding guidelines or pledging policies; individual option quantities and vesting not disclosed .
- Committee effectiveness: Mr. Grady is not on key oversight committees (Audit, Compensation, Nominating/Governance), which may limit direct influence over financial reporting, executive pay, and board refreshment processes; current committee chairs and independence are disclosed for other members .
- Related party transactions: DSS pass-through expenses and significant related-party debt exposure (amended terms, substantial outstanding balance) heighten conflict risks and investor scrutiny; these transactions are overseen under board-approved related party standards but remain material .
- Attendance/engagement: Board meeting attendance rates are not disclosed in the proxy; tenure since June 2024 implies limited historical attendance data available .
RED FLAGS: Controlling shareholder interlock (DSS) via Mr. Grady’s officer role; material related-party financing and services; minimal director-level ownership alignment; independence not explicitly affirmed for Mr. Grady in proxy .