William J. Link
About William J. Link, PhD
Dr. William J. Link (age 79) is the independent Chairman of the Board at LENSAR, Inc., serving since November 2017 . He holds B.S., M.S., and Ph.D. degrees in mechanical engineering from Purdue University and previously served as an assistant professor in the Department of Surgery at Indiana University School of Medicine, bringing decades of ophthalmic industry leadership and board experience to LNSR .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chiron Vision Corporation | Founder, Chairman & CEO | Sold to Bausch & Lomb in 1997 | Built ophthalmic device business; strategic sale |
| American Medical Optics (AMO) (division of American Hospital Supply) | Founder & President | Sold to Allergan in 1986 | Pioneered ophthalmic products; later served on AMO successor’s board (acquired by Abbott in 2009) |
| Versant Ventures Management LLC | Co-founder & Managing Director | Founded 1999 | Healthcare investing; board governance expertise |
| Flying L Partners | Co-founder & Managing Partner | Founded 2016 | Healthcare growth investing; industry network |
| Brentwood Venture Capital | General Partner | Since March 1998 | Private equity/VC experience in healthcare |
| Indiana University School of Medicine | Assistant Professor, Dept. of Surgery | Prior to industry roles | Clinical/academic perspective in surgery |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tarsus Pharmaceuticals, Inc. (Nasdaq: TARS) | Director | Since 2017 | Current public company directorship |
| Second Sight Medical Products (Nasdaq: EYES) | Director | 2003–May 2020 | Prior board service |
| Edwards Lifesciences (NYSE: EW) | Director | May 2009–May 2021 | Prior board service |
| Glaukos Corporation (NYSE: GKOS) | Director | June 2001–Dec 2021 | Prior board service; LNSR director A. Weisner is currently on GKOS board |
| Oyster Point Pharma (Nasdaq: OYST) | Director | July 2015–Mar 2022 | Prior board service |
| RxSight, Inc. (Nasdaq: RXST) | Director | May 2017–July 2024 | Prior board service |
Board Governance
- Board leadership: roles of Chair and CEO are separated; Dr. Link serves as independent Chair; CEO is Nicholas T. Curtis .
- Independence: The Board determined Dr. Link is independent under Nasdaq rules .
- Committee assignments: Dr. Link serves on Audit, Compensation, and Nominating & Corporate Governance committees; he is not the chair of these committees .
- Financial expertise: Dr. Link is designated an “audit committee financial expert” under Item 407(d)(5) of Regulation S‑K .
- Attendance: In 2024, each director attended at least 75% of meetings of the Board and committees on which they served; Board met 7 times, Audit 4, Compensation 2, Nominating 2 .
- Executive sessions: Independent directors meet in private sessions at least twice per year; the Chair presides .
| Committee | Membership | Chair |
|---|---|---|
| Audit | William J. Link; Richard L. Lindstrom; Elizabeth G. O’Farrell; Gary M. Winer | Elizabeth G. O’Farrell |
| Compensation | William J. Link; Todd B. Hammer; Richard L. Lindstrom; Aimee S. Weisner; Gary M. Winer | Richard L. Lindstrom |
| Nominating & Corporate Governance | William J. Link; Thomas B. Ellis; Richard L. Lindstrom; Gary M. Winer | Gary M. Winer |
Fixed Compensation
- Non-employee director program: Annual retainer $50,000; Chair of the Board $75,000; committee chair retainers—Audit $20,000, Compensation $15,000, Nominating $9,000; committee member retainers—Audit $10,000, Compensation $7,000, Nominating $4,500 .
- Annual equity: Directors generally receive an annual RSU grant valued at $100,000; for 2025, RSUs were granted on May 23, 2025 (7,374 RSUs per director; vest on first anniversary), with no additional 2025 awards .
| Year | Fees Earned (Cash) | Stock Awards (Grant-Date Fair Value) | Total |
|---|---|---|---|
| 2024 | $122,085 | $71,720 | $193,805 |
Notes:
- Cash includes $28,280 paid in lieu of equity awards, reflecting the extent $100,000 exceeded 22,000 RSUs multiplied by grant-date closing price .
- As of Dec 31, 2024, Dr. Link had 22,000 RSUs outstanding and 69,638 stock options outstanding (director totals table) .
Performance Compensation
| Component | Performance Metrics | Vesting |
|---|---|---|
| Director equity (RSUs) | None disclosed for directors; RSUs are time-based | Vests on first anniversary for annual grants; director equity vests on change in control or upon death/disability |
Other Directorships & Interlocks
| Relationship | Details | Governance Consideration |
|---|---|---|
| GKOS overlap | Dr. Link previously served on Glaukos board (ended 2021); LNSR director Aimee S. Weisner is currently a GKOS director | Historical ties to ophthalmology peers; current interlock via another LNSR director, not Link himself |
| Edwards/AMO history | Prior board/leadership roles at Edwards and AMO successor; deep industry network | Valuable sector insight; monitor for related-party exposures (none disclosed) |
| North Run influence | Two North Run designees (Ellis, Hammer) on LNSR Board; designation rights tied to May 2023 financing | Control dynamics: North Run beneficially owns ~55% of common shares; potential governance pressure points |
Expertise & Qualifications
- Audit committee financial expert designation; financially literate .
- Foundational ophthalmic device operating experience (Chiron Vision, AMO) and extensive venture capital/board background; advanced engineering education .
- Independent Chair role provides oversight of governance and Board agendas .
Equity Ownership
| Metric | Value |
|---|---|
| Shares beneficially owned (common) | 612,905 (5.1% of common outstanding) |
| Combined voting power | 2.7% (common + any convertible preferred voting as a class) |
| Options included in beneficial ownership | 69,638 vested but unexercised options |
| RSUs outstanding (as of 12/31/2024) | 22,000 RSUs (director table) |
| Anti-hedging policy | Company prohibits hedging transactions in company equity |
No pledging disclosures were noted; insider trading policy is filed with the 2024 10‑K as Exhibit 19.1 .
Governance Assessment
- Board effectiveness: Link’s independent Chair role and cross-committee presence enhance oversight; his audit committee financial expert status strengthens financial governance .
- Independence and engagement: Board affirmed independence; attendance met thresholds; executive sessions regularly held under his leadership .
- Compensation alignment: Director pay structure mixes cash and time-based RSUs; no performance-linked metrics for directors, which is standard but reduces direct pay-for-performance alignment at the director level .
- Ownership alignment: Material beneficial ownership and vested options indicate skin-in-the-game; anti-hedging policy supports alignment; no pledging disclosed .
- Conflicts/related parties: No related-person transactions disclosed for Link; keep oversight focus on North Run’s significant influence (55% beneficial common, board designation rights) which can impact governance independence dynamics, though Link himself is independent .
- RED FLAGS: Change-in-control accelerated vesting for directors’ equity (common in market but can be viewed as entrenchment risk); significant shareholder/control influence via North Run warrants ongoing scrutiny of committee independence and decision-making optics .
Overall, Dr. Link’s profile indicates strong governance credentials and sector expertise, with independent leadership and multi-committee participation; monitoring is warranted around control dynamics introduced by North Run’s investment and director designation structure .