Lawrence Jasinski
About Lawrence J. Jasinski
Lawrence J. (Larry) Jasinski, age 67 as of April 1, 2025, has served as an independent director of LeMaitre since 2003 and is classified as a Class III director with a term expiring at the 2027 annual meeting . He is the Chief Executive Officer and a director of Lifeward Inc. (Nasdaq: LFWD; f/k/a ReWalk Robotics) and previously held senior leadership roles at Soteira, Cortek, and Boston Scientific, bringing deep medical device commercialization, operations, and regulatory experience; he holds a B.S. in Marketing from Providence College and an MBA from the University of Bridgeport .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lifeward Inc. (Nasdaq: LFWD) | Chief Executive Officer; Director | CEO: current; Director since 2012 | Led commercialization of exoskeleton technology enabling mobility for paralyzed individuals |
| Soteira, Inc. | President & Chief Executive Officer | 2005–2012 | Led vertebral compression fracture treatment platform |
| Cortek, Inc. | President & Chief Executive Officer | 2000–2005 | Developed next-gen treatments for degenerative disc disease |
| Boston Scientific | Vice President, Global Marketing (Vascular) | 1998–2000 (with company 1985–2000) | Built sales/marketing capabilities in vascular devices |
External Roles
| Organization | Role | Public/Private | Tenure | Committees/Notes |
|---|---|---|---|---|
| Lifeward Inc. (Nasdaq: LFWD) | CEO; Director | Public | Director since 2012 | Executive role at another med‑tech company |
| Massachusetts Bay Lines | Director | Private | Not disclosed | Commuter and commercial vessel services in Boston Harbor |
Board Governance
- Independence: Board has affirmatively determined Jasinski is independent under Nasdaq rules .
- Board class/term: Class III; current term expires at 2027 annual meeting .
- Leadership structure: CEO serves as Board Chair; Board does not have a Lead Independent Director (governance consideration) .
- Executive sessions: Independent directors hold at least one executive session per year; chair responsibility rotates .
- Meetings and attendance: In 2024, the Board held 7 meetings and acted by written consent 4 times; all directors attended at least 75% of Board and committee meetings . Six directors attended the 2024 annual meeting .
Committee assignments (2024):
| Committee | Role | Meetings/Activity |
|---|---|---|
| Compensation Committee | Chair | Oversees exec and director pay; administers incentive plans |
| Audit Committee | Member | Met 4 times; one unanimous written consent; oversees financial reporting, auditor oversight |
| Nominating & Corporate Governance Committee | Member | Met 2 times; two written consents; board composition and governance oversight |
Fixed Compensation
2024 director compensation (actual reported):
| Component | Amount (USD) |
|---|---|
| Cash fees (retainers/committee fees) | $42,000 |
| Total | $154,000 |
2024 non‑employee director compensation policy (structure):
| Policy Element | Amount (USD) |
|---|---|
| Annual Board retainer | $26,000 |
| Committee chair retainers | Audit Chair: $20,000; Compensation Chair: $7,500; Nominating Chair: $6,500 |
| Committee member retainers | Audit: $6,000; Compensation: $2,500; Nominating: $2,000 |
Notes:
- Employee directors do not receive cash director fees .
- Directors are reimbursed for out‑of‑pocket expenses .
Performance Compensation
Annual equity program and 2024 awards:
| Equity Element | 2024 Policy / Status | Details |
|---|---|---|
| Annual equity grant (policy) | $170,000 value (eligibility ≥6 months of service) | Mix: 50% options, 25% PSUs, 25% RSUs |
| 2024 reported stock awards (RSUs+PSUs) | $56,000 | Grant date fair value under ASC 718; PSUs shown at target; max PSU value per director $51,000 |
| 2024 reported option awards | $56,000 | Valued via Black‑Scholes under ASC 718 |
| Outstanding RSUs (as of 12/31/24) | 966.24 units | Per non‑employee director |
| Outstanding PSUs (as of 12/31/24, at target) | 1,137.58 units | Per non‑employee director |
| Outstanding options (as of 12/31/24) | 8,653 options | Held by Jasinski |
PSU performance metrics: The proxy discloses PSUs are performance‑based but does not specify the metric; values are presented at target and maximum for valuation purposes .
Other Directorships & Interlocks
| Topic | Disclosure |
|---|---|
| Current public company boards | Lifeward Inc. (LFWD) – CEO and director |
| Private/other boards | Massachusetts Bay Lines – Director |
| Compensation Committee interlocks | None – no interlocks or insider participation disclosed for 2024 |
Expertise & Qualifications
- Skills matrix indicates strengths in medical device industry experience, operations, regulatory, risk management, sales & marketing, R&D, M&A, global experience, and financial/accounting literacy—reflecting broad executive and strategic capability .
- Board cites his manufacturing, commercialization, sales‑force building, regulatory approvals, and manufacturing operations expertise as reasons for service .
Equity Ownership
Beneficial ownership as of March 5, 2025:
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Lawrence J. Jasinski | 8,891 | <1% | Includes 3,142 options exercisable within 60 days |
Section 16 compliance: The company reports all directors and officers complied with Section 16(a) filing requirements during fiscal 2024 .
Insider policies:
- Hedging in company securities is prohibited for insiders (includes directors) .
Governance Assessment
Strengths
- Long-tenured independent director with deep med‑tech operating experience and broad functional expertise; serves as Chair of Compensation and member of Audit and Nominating/Governance—indicating high board trust and utility .
- Attendance: Board reports all directors met ≥75% attendance in 2024; committees active with defined charters and regular meetings, supporting effective oversight .
- Director pay mix emphasizes equity (RSUs/PSUs/options), enhancing alignment; hedging prohibited; Section 16 compliance reported .
Watch items / RED FLAGS
- 2024 election outcome: Jasinski received more WITHHELD than FOR votes, triggering the Director Resignation Policy; the Board rejected his resignation, attributing the result primarily to concerns over board racial/ethnic diversity rather than his performance—this is a material investor‑confidence signal tied to board composition and refreshment .
- Board structure: CEO also serves as Board Chair and there is no Lead Independent Director, which some investors view as a governance risk; mitigants include independent executive sessions (at least annually) .
- External CEO role at Lifeward (LFWD): increases time commitments; nonetheless, the Board has determined he is independent and disclosed no related‑party transactions involving him since Jan 1, 2024 .
Director Compensation Alignment
- 2024 reported pay of $154,000 comprised $42,000 cash and $112,000 equity grant‑date value (RSUs/PSUs/options), consistent with policy emphasizing equity; policy targets $170,000 annual equity value with a balanced mix, though reported ASC 718 values may differ from policy levels due to valuation/timing .
Board Culture & Engagement
- Independent director executive sessions occur at least annually; Nominating/Governance oversees board composition and accepted responsibility for evaluating the 2024 withhold signal under the Director Resignation Policy .