Trent Davis
About Trent Davis
Trent Davis, 56, has served on INVO Fertility’s Board since December 2019. He is an independent director, Chair of the Nominating and Corporate Governance Committee (since November 2020), a member of the Compensation Committee, and brings capital markets expertise as CEO of Paulson Investment Company, LLC; he holds a B.S. in Business and Economics from Linfield College and an MBA from the University of Portland .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Paulson Investment Company, LLC | Chief Executive Officer | Not disclosed | Oversaw syndication of ~$600M investments across 50+ clients in public/private deals |
| Whitestone Investment Network, Inc. | President & COO | Dec 2014–Dec 2018 | Advisory/restructuring for small/mid-cap companies |
| Paulson Capital Corp. (Nasdaq: PLCC) | Director & President | Nov 2013–Jul 2014 | Company completed reverse merger with VBI Vaccines; Davis continued on VBI’s board/audit committee until May 2016 |
| Dataram Corporation (Nasdaq: DRAM) | Director | Jul 2015–Apr 2017 | Helped complete reverse merger with U.S. Gold Corp (Nasdaq: USAU) |
| Majesco Entertainment Company (Nasdaq: COOL) | Chairman of the Board | Dec 2014–Jul 2015 | Board leadership during transition period |
| National Investment Banking Association | Chairman of the Board | 2003 | Industry leadership role |
External Roles
| Company/Institution | Role | Tenure/Date | Notes |
|---|---|---|---|
| Senmiao Technology Limited (Nasdaq: AIHS) | Director | Since Mar 2018 (as disclosed) | Online lending platform in China |
| Eastside Distilling, Inc. (Nasdaq: EAST) | Director | Aug 2016–Aug 2019 | Public company board experience |
| VBI Vaccines (Nasdaq: VBIV) | Director; Audit Committee member | Through May 2016 | Continued service post reverse merger from Paulson Capital Corp |
| Education | B.S.; MBA | Linfield College; Univ. of Portland | Academic credentials |
Board Governance
- Independence and structure: The Board determined Davis is independent under Nasdaq rules; the Board consisted of a majority of independent directors. The CEO (Steven Shum) is not independent .
- Committees:
- Nominating & Corporate Governance: Davis (Chair), Messina, Ryan; held 1 meeting in 2023 and 1 in 2024 .
- Compensation: Ryan (Chair), Davis, Szot; held 2 meetings in 2024 .
- Audit: Szot (Chair), Messina, Ryan; held 6 meetings in 2024 .
- Attendance: The Board held 11 meetings in 2024 (plus 11 unanimous written consents). Each director attended 100% of meetings in 2024 and 2025 .
- 2025 Director election results: Trent Davis received 286,701 For; 52,017 Withheld; 504,158 broker non-votes .
- Risk oversight and governance: Board and committees oversee strategic, financial, and related-party risk processes; written charters available on the company website .
Fixed Compensation
| Year | Cash Fees ($) | Stock Awards ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2024 | 42,500 | - | - | - | 42,500 |
| 2023 | 42,500 | - | 24,820 | - | 67,320 |
- Deferred fees: As of Dec 31, 2024, Davis had deferred a cumulative $66,825 of fees earned .
- Program design: Director compensation program combines cash and equity to align with stockholders’ long-term interests .
Performance Compensation
- Annual director equity: No stock awards in 2024; option awards of $24,820 reported in 2023 .
- Performance metrics: No performance-conditioned director equity metrics disclosed for non-employee directors in the proxy .
- Clawback: Company adopted a clawback policy (Oct 2, 2023) for current/former “officers” under SEC Rule 10D-1 and Nasdaq Rule 5608; scope applies to erroneously awarded incentive compensation following a restatement (policy scope described at company level) .
Other Directorships & Interlocks
| Entity | Role | Potential Interlock/Relevance |
|---|---|---|
| Eastside Distilling, Inc. (EAST) | Davis: Director (2016–2019) | Company CEO Steven Shum previously served as CFO/CEO at Eastside (2015–2019), indicating historical network overlap (not a current interlock) . |
| VBI Vaccines (VBIV) | Davis: Director/Audit Committee member through May 2016 | Capital-markets and audit oversight experience . |
| Senmiao Technology (AIHS) | Davis: Director (since Mar 2018, as disclosed) | Additional public company board experience . |
Expertise & Qualifications
- Capital markets, M&A, corporate governance, operational and executive management expertise; oversight of ~$600M investment syndications at Paulson Investment Company .
- Academic credentials: B.S. (Linfield College); MBA (University of Portland) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Common Stock | Notes |
|---|---|---|---|
| Trent Davis | 613 [includes 472 shares under options exercisable within 60 days] | 0.03% | Beneficial ownership table as of June 3, 2025 |
- Hedging policy: Directors, officers, and employees are prohibited from using hedging instruments (e.g., collars, swaps) to offset declines in the company’s securities .
- Pledging: No specific pledging disclosures for directors in the proxy; restricted stock awards (if any) cannot be pledged before restrictions lift under plan terms .
Governance Assessment
- Positives: Independent status; Chair of Nominating & Governance; 100% attendance; active committee participation; strong capital-markets background; company-wide hedging prohibition; formal related-party review policy .
- Shareholder signals: Re-elected with 286,701 For vs. 52,017 Withheld at 2025 annual meeting; Say‑on‑Pay approved (For 219,381; Against 117,286; Abstain 2,051) .
- Alignment and pay structure: Director cash fees are modest for a micro-cap context; no 2024 equity grant; prior 2023 option grant; fee deferrals of $66,825 by Davis may indicate cost discipline/alignment during capital-constrained periods .
- Conflicts/related parties: No Davis-specific related‑party transactions disclosed in the proxy; broader related‑party items involved other executives and entities (reviewed under company policy) . Davis’s concurrent role as CEO of Paulson Investment Company is noted; no disclosed transactions with IVF, but continued monitoring is prudent given potential capital‑markets interactions .
- Committee effectiveness: Committees met regularly (Audit: 6x in 2024; Comp: 2x in 2024; N&G: 1x in 2023 and 1x in 2024); Audit Committee produced a formal report and recommended inclusion of audited financials in the 10‑K .