Al Ford
About Al Ford
Al Ford is Chief Commercial Officer (CCO) at Kestra Medical Technologies (KMTS), appointed prior to the IPO, with 20 years of commercial leadership in medical devices; he was 55 as of July 7, 2025 and holds a B.S. in Marketing and an M.S. in International Business from Saint Joseph’s University . He joined Kestra on February 11, 2025, reporting to the CEO, under an at‑will offer letter specifying a $500,000 base salary and a performance bonus formula tied directly to company revenue (.0045 × actual revenue for FY25) . Company operating context during his onboarding included strong growth and a successful IPO: Q3 FY25 revenue was $15.1 million (+82% YoY) with gross margin 43.4%, and the company raised ~$205.2 million of net IPO proceeds; the company also noted his appointment as CCO in its Q3 release . TSR and EBITDA growth for his tenure are not disclosed in filings; adjusted EBITDA loss for Q3 FY25 was $16.3 million (context, pre-appointment) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Axonics, Inc. (Nasdaq: AXNX) | Chief Commercial Officer | 2017–2025 | Led global strategic sales, marketing, BD, product development, and commercial operations in implantable tech for bladder/bowel disorders . |
| Cardiac Science Corporation | CCO, General Manager, SVP Global Sales & Marketing | 2015–2017 | Directed global commercial and GM responsibilities in cardiac devices . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in KMTS filings for Al Ford | — | — | No external directorships or committee roles mentioned in S‑1/A or DEF 14A biographies . |
Fixed Compensation
| Component | Detail |
|---|---|
| Base Salary | $500,000 . |
| Target Bonus | 60% of base salary, converted to revenue‑linked formula; for FY25: 0.0045 × Kestra actual revenue . |
| Reporting Line | Reports to CEO Brian Webster . |
| Benefits | Medical/dental/vision, 401(k), life/AD&D, long‑term disability, “Unlimited PTO” per offer letter . |
| Employment Status | At‑will; contingent on background, eligibility to work, and Team Member Agreement; no severance terms in offer letter . |
Performance Compensation
Annual Bonus Structure
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Company revenue vs plan (converted formula) | Not disclosed | 60% of base converted to 0.0045 × actual revenue for FY25 | Not disclosed for Al Ford | Not disclosed | Annual cash, paid post‑fiscal year subject to Board determination; company sets quarterly goals for all employees . |
Equity Awards
| Award Type | Grant Date | Quantity | Strike/Value | Vesting Schedule | Expiration | Notes |
|---|---|---|---|---|---|---|
| Stock Options (IPO‑related) | Upon pricing of offering (March 2025) | 133,333 options expected at $15.00 midpoint; final quantity tied to actual IPO price | Exercise price equals IPO price | Typically 2 years with 1‑year cliff and monthly thereafter | ≤10 years under 2025 Plan | S‑1/A illustrates expected grant size; final option count adjusts with IPO price mechanics . |
| Annual LTI (RSUs/PSUs) | June 4, 2025 | Not disclosed (to be in FY26 disclosure) | Not disclosed | RSUs and performance‑based RSUs granted to executives; details forthcoming | Not disclosed | Subject to company Clawback Policy and plan terms . |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | Not individually reported for Al Ford in the July 7, 2025 proxy table (NEOs and directors listed; Al Ford is not a 2025 NEO) . |
| Options Outstanding | IPO‑related grant expected (133,333, quantity subject to final IPO pricing); vest schedule reduces near‑term exercisability pre‑one‑year cliff . |
| Lock‑Up | Executives/directors agreed not to sell or transfer common shares for 180 days after the prospectus date, with broad prohibitions on pledging, hedging, swaps, etc., absent underwriter consent . |
| Hedging/Pledging | Insider Trading Policy prohibits hedging transactions, short sales, derivative trades, and pledging/margin accounts for covered insiders . |
| Clawback | Company Clawback Policy effective March 5, 2025 requires recoupment of erroneously awarded incentive compensation following an accounting restatement (3‑year lookback) . |
| Ownership Guidelines | Not disclosed in filings for executives . |
Employment Terms
| Term | Detail |
|---|---|
| Start Date | February 11, 2025 . |
| Role | Chief Commercial Officer . |
| Contract Term | At‑will; no fixed term . |
| Severance | Not disclosed in offer letter . |
| Non‑Compete/Non‑Solicit | Not specified in offer letter; Insider Trading and equity plan restrictions apply . |
| Change‑in‑Control (Plan‑Level) | Under the 2025 Omnibus Plan, unvested awards do not automatically vest; Committee may continue/assume/substitute, cash‑out at CIC price minus exercise price, terminate with pre‑CIC exercise window, or accelerate vesting at its discretion . |
| Option Exercise/Term | Exercise mechanics per award agreement; extensions for blackout/lock‑up conditions are permitted without exceeding 10‑year term . |
| Clawback & Insider Trading | Clawback and Insider Trading policies apply to executive compensation and securities transactions . |
Performance & Track Record
- Q3 FY25 revenue was $15.1 million (+82% YoY) with gross margin 43.4%; the company highlighted commercial momentum, expanded insurer contracts (covered lives >285 million), and announced Al Ford’s appointment as CCO .
- IPO completed in March 2025 with ~$205.2 million net proceeds, supporting commercial expansion and revenue cycle investments .
- FY25 outlook guided revenue to $58.0–$58.5 million (+109–110% YoY), underscoring growth trajectory relevant to Ford’s revenue‑linked bonus formula .
Investment Implications
- Compensation alignment: Ford’s cash bonus is explicitly formulaic to company revenue (.0045 × actual revenue), directly tying near‑term pay to topline performance; equity LTI complements this with multi‑year vesting and clawback protection .
- Selling pressure: 180‑day IPO lock‑up plus a one‑year cliff on IPO options materially limits near‑term insider selling and exercisability, reducing immediate overhang risk .
- Governance safeguards: Prohibitions on pledging/hedging and a restatement‑based clawback mitigate misalignment and reputational risk; change‑in‑control outcomes are subject to committee discretion under the plan, reducing automatic windfalls .
- Data gaps: No disclosed severance, change‑of‑control multiples, or personal ownership levels for Ford; monitor the FY26 proxy for RSU/PSU grant details, any employment agreement updates, and insider trading plans post‑lock‑up .