Shahriar (Shar) Matin
About Shahriar (Shar) Matin
Shahriar (Shar) Matin, age 50, has served as an independent director of KORU Medical Systems (KRMD) since 2021, bringing 25+ years of medtech operating experience including CEO and COO roles; he holds a BS in Mechanical Engineering (UC Berkeley, honors) and an MBA from Harvard Business School . His background spans cardiovascular devices, oncology systems, and operations at global medtech leaders, supporting board oversight of strategy, commercialization, and manufacturing .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Cordis Corporation | Chief Executive Officer | 2021–2023 | Led a leading cardiovascular device company; CEO credentials support C‑level and medtech operational oversight . |
| ViewRay Technologies Inc. | Chief Operating Officer | Jul 2018–Mar 2021 | Early-stage radiation oncology medtech; COO role underscores scale-up and ops experience . |
| Spectranetics (acquired by Royal Philips) | Chief Operating Officer; prior commercial/operations roles | COO Jan 2014–Nov 2017; commercial/ops 2007–2014 | Growth, integration, and operational leadership through sale to Philips . |
| Boston Scientific; Guidant | Commercial and engineering leadership roles | Early career | Foundation in engineering-driven device commercialization . |
External Roles
- No other current public-company directorships are listed in KRMD’s proxy biography for Matin; the board skills matrix does not mark “Other Public Company Director Experience” for him .
Board Governance
| Committee | Role | Meetings in 2024 (#) |
|---|---|---|
| Audit Committee | — | 9 |
| Compensation Committee | Member | 5 |
| Nominating & Corporate Governance Committee | Member | 3 |
- Independence: The board determined all non-employee directors (excluding a former consultant) are independent under Nasdaq rules; Matin is a non-employee director and therefore independent .
- Attendance and engagement: The board held four regular and one special meeting in 2024; all directors attended at least 75% of total board and committee meetings, and all directors and nominees attended the 2024 Annual Meeting .
- Board structure and practices: KRMD maintains a lead director structure, annual board/committee self-evaluations, majority voting, stock ownership requirements, and anti-hedging/pledging policies .
- As of March 31, 2025, committee assignments reflect Matin as a member of Compensation and Nominating & Governance (no chair roles) .
Fixed Compensation (Director)
KRMD’s non-employee director program pays a cash retainer and common stock awards; chair retainers apply only to committee chairs and the board chair .
| Year | Cash Retainer ($) | Committee Chair Fees ($) | Equity Award ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 50,000 | — (not a chair) | 60,000 (common stock) | 110,000 |
| 2023 | 50,000 | — (not a chair) | 60,000 (common stock) | 110,000 |
Program mechanics and alignment:
- Number of director shares each quarter is set using the average of high/low prices on the last trading day of the quarter; directors must own stock equal to 4x annual cash fees within five years, and all non-employee directors have achieved or are on track .
- Anti-hedging/pledging: Directors are prohibited from hedging, short sales, and pledging company shares .
Performance Compensation (Director)
- KRMD does not provide performance-based pay to directors; Matin’s director equity is delivered as common stock awards under the non-employee director plan, not PSUs or performance cash .
- Clawback (context): Company has a clawback policy for executive incentive compensation; while aimed at executives, it reinforces an overall pay-for-performance and accountability posture overseen by the Compensation Committee on which Matin serves .
Other Directorships & Interlocks
- Current public boards: None disclosed for Matin in KRMD’s proxy .
- Interlocks/conflicts: The proxy highlights independence reviews and notes non-employee directors (including Matin) are independent; the board considered relationships and deemed them within Nasdaq safe harbor or otherwise not impairing independence .
- Significant shareholder on board: Joseph M. Manko Jr. (Horton Capital) is a director and large holder; the board considered his beneficial ownership in independence assessments (Matin is independent) .
Expertise & Qualifications
- C‑level expertise (CEO/COO) across medtech; medtech operational experience; international healthcare experience; product development; capital markets exposure; and financial/audit committee experience per board skills matrix .
- Education: BS Mechanical Engineering (UC Berkeley, honors); MBA (Harvard) .
- The skills matrix marks Matin for Medtech Industry Experience, Medtech Operational Experience, Healthcare Growth Experience, Product Development, Capital Markets Experience, Financial Expertise/Audit Committee Experience, and C‑level Expertise .
Equity Ownership
| As-Of Date | Shares Beneficially Owned | Percent of Class |
|---|---|---|
| Apr 2, 2025 | 83,415 | * (less than 1%; “*” as defined in proxy) |
| Mar 24, 2024 | 56,280 | * (less than 1%; “*” as defined in proxy) |
Notes: The proxy states “Beneficial ownership representing less than 1% is denoted with an asterisk (*)” . KRMD also reports no known pledging arrangements, and policy prohibits pledging .
Governance Assessment
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Strengths for investor confidence
- Independent director with deep medtech operating credentials (CEO/COO) aligned to KRMD’s device and drug-delivery focus; sits on Compensation and Nominating & Governance committees that directly influence pay design and board composition .
- Board practices include majority voting, stock ownership requirements, anti-hedging/pledging, and annual board/committee self-evaluations; all directors met minimum attendance thresholds in 2024 .
- Director pay mix skews toward equity (common stock), and ownership guidelines (4x cash fees) promote alignment; Matin’s total was stable at $110k in 2023–2024, with over half in stock each year .
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Watch items
- A significant shareholder (Horton Capital) is represented on the board and chairs the Compensation Committee; while the board affirmed independence (Matin independent), investors may monitor committee decision-making rigor and executive pay outcomes given ownership dynamics .
- Individual attendance percentages are not disclosed; only the “≥75%” threshold is reported—sufficient but not granular for peer benchmarking .
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Red flags
- None disclosed regarding related-party transactions, pledging, hedging, legal proceedings, or SEC investigations involving Matin; anti-hedging/pledging is explicitly prohibited by policy .
- No Section 16(a) filing delinquencies identified for Matin in the proxy’s delinquency disclosure sections .