Robert Brilon
About Robert J. Brilon
Robert J. Brilon is Chief Financial Officer, Treasurer and Corporate Secretary of Iveda, serving as CFO since December 2013 and reappointed Treasurer in December 2021; he is 65 and holds a BS in Business Administration (University of Iowa) and is a CPA with prior experience at McGladrey Pullen, Ernst & Young, and Deloitte & Touche . Under his financial leadership, Iveda’s 2024 revenue was $6.0M vs. $6.5M in 2023 (−7%), with gross margin improving to 22% from 16%, while the company reported a net loss of ~$4.0M in both 2024 and 2023 . Iveda discloses dependence on key personnel including Brilon and notes he will lead cybersecurity risk assessment and management processes at the board’s direction .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Iveda Solutions | CFO; EVP Business Development; Interim CFO & Treasurer; President | CFO since Dec 2013; EVP BD Dec 2013–Feb 2014; Interim CFO & Treasurer Dec 2008–Aug 2010; President Feb 2014–Jul 2018 | Led finance through multiple capital markets cycles; expanded BD; executive leadership continuity |
| MD Helicopters | Chief Financial Officer | Jan 2010–Aug 2010 | Managed finance for commercial/light military OEM |
| Brain State Technologies | CFO & EVP Business Development | Aug 2010–Nov 2013 | Scaled licensing/hardware finance and BD |
| InPlay Technologies (NASDAQ: NPLA), formerly Duraswitch (NASDAQ: DSWT) | CEO, President & CFO | Nov 1998–Jun 2007 | Led operating company commercializing patented switch & digital pen tech |
| Gietz Master Builders | Chief Financial Officer | 1997–1998 | Construction finance leadership |
| Rental Service Corp. (NYSE: RRR) | Corporate Controller | 1995–1996 | Corporate controls and reporting |
| DataHand Systems | CFO & VP Operations | 1993–1995 | Finance and operations leadership |
| Go-Video (AMEX: VCR) | Chief Financial Officer | 1986–1993 | Public company CFO experience |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bimergen Energy Corporation | Board Director; Independent Contract CFO | Oct 2021–present | Energy-sector finance and governance; external board role |
| Vext Science, Inc. | President, CFO, Corporate Secretary & Director | Until Feb 2020 | Public company finance and board leadership |
| New Gen Management Services, Inc. | President, CFO, Corporate Secretary & Director | CFO from Jul 2017; President & CFO from Jul 2018; resigned Feb 2020 | Multi-entity executive and board roles |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $180,000 | $180,000 |
| Option Awards Grant-Date Fair Value ($) | $20,450 | $18,367 |
| All Other Compensation ($) | $0 | $0 |
Notes:
- Company states base salaries are currently below market and program emphasizes performance-based compensation (bonus and long-term equity); however, named executive disclosures show no cash bonus for Brilon in 2023–2024 .
Performance Compensation
Long-term incentives are stock options with predominantly immediate vesting on grant or full vesting by year-end; no specific annual performance metric weights/targets are disclosed for NEO pay.
| Grant Date | Type | Number of Options | Exercise Price | Expiration | Vesting |
|---|---|---|---|---|---|
| 12/30/2021 | Option | 1,563 | $129.92 | 12/31/2031 | Fully vested at grant |
| 06/15/2022 | Option | 1,563 | $11.36 | 06/15/2032 | Fully vested at grant |
| 10/03/2022 | Option | 625 | $6.00 | 10/03/2032 | Fully vested at grant |
| 12/01/2022 | Option | 1,563 | $4.32 | 12/01/2032 | Fully vested at grant |
| 11/03/2023 | Option | 7,500 | $5.44 | 11/03/2033 | Fully vested 12/31/2023 |
| 12/07/2024 | Option | 15,000 | $1.71 | 12/07/2034 | Fully vested 12/31/2024 |
Additional context:
- Company reports no NEO option exercises during the last fiscal year, mitigating near-term selling pressure signals from exercises .
- The proxy emphasizes use of equity-based incentives to align with shareholders but does not disclose quantitative revenue/EBITDA/TSR targets or weightings for payouts .
Equity Ownership & Alignment
| Metric | 2024 (Record Date Oct 7, 2024) | 2025 (Record Date Oct 8, 2025) |
|---|---|---|
| Beneficially Owned Common Shares | 35,068 (incl. 14,848 options exercisable within 60 days) | 47,723 (incl. 27,503 options exercisable within 60 days) |
| Ownership as % of Shares Outstanding | 1.5% | 0.8% (outstanding shares increased to 5,829,741) |
| Vested vs. Unvested | Options listed as exercisable; unexercisable column “–” (i.e., no unvested) | Options listed as exercisable; unexercisable column “–” |
| Shares Pledged as Collateral | None disclosed | |
| Option/Incentive Value In-The-Money | Depends on market price vs. strikes; not disclosed in filings | |
| Ownership Guidelines | Not disclosed |
Employment Terms
| Term | Detail |
|---|---|
| Employment start as CFO | December 2013; Treasurer reappointed December 15, 2021 |
| Years in current CFO role | ~12 years (as of 2025) |
| Employment agreements | Company discloses no employment agreements with any executive officers |
| Severance provisions | Not disclosed |
| Change-of-control | Not disclosed |
| Clawback policy | Not disclosed in proxy/10-K |
| Non-compete / non-solicit | Not disclosed |
| At-will status | Implicit; no agreements; officers serve at board’s discretion |
Investment Implications
- Pay-for-performance alignment: Brilon’s compensation is predominantly fixed salary with modest option grants that are immediately or fully vested within the year; absence of disclosed quantitative performance metrics (revenue/EBITDA/TSR) for incentive determination and immediate vesting reduces retention levers and may weaken incentive alignment vs. long-dated, performance-vested equity .
- Insider selling pressure: No NEO option exercises reported for the last fiscal year; option strikes span a wide range ($1.71–$129.92) and expirations 2031–2034, suggesting multi-year optionality rather than near-term exercise cadence .
- Ownership alignment: Beneficial ownership is sub-1% as of 2025, though options are fully exercisable; no pledging disclosed, which is positive for governance risk .
- Retention and execution risk: Company explicitly cites dependence on key personnel including the CFO; with no employment agreement or defined severance/change-of-control protections, retention relies on role fit and equity value realization rather than contractual economics . Internal control weaknesses and going-concern language increase execution risk during Brilon’s tenure, though gross margin improved YoY under current finance leadership .
- Governance: CFO will lead cybersecurity risk processes and report to the board, expanding purview beyond finance; committee structures are independent, but compensation disclosure lacks performance metric detail, limiting external assessment of pay rigor .
Data sources: 2025 and 2024 DEF 14A proxies and 2024 10-K. All figures and statements above reference the cited filings.