David Cohen
About David Cohen
David Eric Cohen, age 52, is a founder of Innovative Eyewear and has served as Chief Technology Officer since September 2019; he accepted a full‑time employment letter on October 1, 2022. He holds a BS in Computer Science from the Academy of Bordeaux and an MS in Advanced Technician & Information Systems Management from Hadassah University. The company does not disclose TSR or financial performance metrics linked to his pay; he received no cash bonus or non‑equity incentive compensation for 2023 or 2024.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lucyd Ltd. | Chief Technology Officer | Aug 2017–Aug 2019 | Led technological advancements and digital ad campaigns for smart eyewear. |
| Emaze Design Agency | President | Sep 2009–Oct 2019 | Led development of web/apps for e‑commerce, performance monitoring, and mobile; oversaw agency operations. |
| Jewish General Hospital | Lead Business Intelligence Specialist | Years not disclosed | Assisted with data solutions, business processes and requirements. |
External Roles
- No current public company board or committee roles disclosed for David Cohen.
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base salary (policy) | $140,000 | $140,000 |
| Salary paid (SCT) | $144,198 | $142,000 |
| Bonus paid ($) | $0 | $0 |
| All other compensation ($) | $6,154 | $8,536 |
| Total compensation ($) | $228,442 | $414,488 |
Performance Compensation
RSU Awards (time‑based; performance metrics not disclosed)
| Grant Date | Units Granted | Market Value at 12/31/2024 | Unvested at 12/31/2024 |
|---|---|---|---|
| Dec 13, 2024 | 43,200 | $212,544 | 43,200 |
Narrative disclosure confirms RSUs granted on Dec 13, 2024; no explicit performance conditions are disclosed.
Stock Option Awards
| Grant Date | Exercisable (#) at 12/31/2024 | Unexercisable (#) at 12/31/2024 | Exercise Price | Expiration |
|---|---|---|---|---|
| Jan 13, 2023 | 2,000 | 1,000 | $25.50 | Jan 13, 2028 |
| Dec 18, 2023 | 2,334 | 1,166 | $9.00 | Dec 18, 2028 |
- No options exercised by executive officers in 2023 or 2024.
Plan Governance and Clawback
- 2021 Equity Incentive Plan administered by the Compensation Committee; intended to align employee incentives with shareholders.
- Executive Compensation Clawback Policy (adopted Oct 27, 2023) complies with SEC Rule 10D‑1/Nasdaq 5608; recovers incentive‑based compensation received in the three completed fiscal years preceding any required accounting restatement; no indemnification; recovery computed on restated amounts (includes stock price/TSR using reasonable estimates).
Equity Ownership & Alignment
Beneficial Ownership
| Reference Date | Shares Beneficially Owned | Shares Outstanding Reference | Ownership % |
|---|---|---|---|
| 10‑K (as of filing; 2,452,632 outstanding) | 12,534 | 2,452,632 | <1% |
| Proxy (June 30, 2025; 4,574,602 outstanding) | 15,789 | 4,574,602 | <1% |
Short‑Term Vesting/Exercisability (as of 10‑K)
| Instrument | Within 60 days (units) |
|---|---|
| Options exercisable within 60 days | 5,334 |
| RSUs scheduled to vest within 60 days | 7,200 |
Insider Trading Activity and Potential Selling Pressure
| Quarter Ended | Shares Sold | Trading Plan Adoption |
|---|---|---|
| Q3 2025 | 3,744 | Rule 10b5‑1 plan adopted Dec 13, 2024 |
- Pledging/hedging: No pledging of company stock disclosed for David Cohen.
- Ownership guidelines: Not disclosed.
Employment Terms
| Term | Detail |
|---|---|
| Employment status | At‑will; full‑time letter accepted Oct 1, 2022. |
| Base salary | $140,000 annually. |
| Bonus eligibility | Discretionary; amount determined solely at Company’s discretion. |
| Notice requirement | 60 days’ written notice for termination or resignation; salary paid through notice period. |
| Severance | No severance multiples disclosed; only salary through 60‑day notice period per agreement terms. |
| Change‑of‑control | Not disclosed for David Cohen. |
| Non‑compete / non‑solicit | Not disclosed. |
| Clawback policy | Company‑wide policy adopted Oct 27, 2023 (SEC/Nasdaq compliant). |
Compensation Committee Analysis
- Compensation Committee members: Kristen McLaughlin (Chair) and Louis Castro; Board determined members are independent under NASDAQ standards; Committee oversees executive pay and administers the 2021 Equity Incentive Plan.
Investment Implications
- Pay mix skewed to equity: No cash bonuses; 2024 compensation uplift driven by a large RSU grant (43,200 units), indicating retention emphasis but with limited performance‑condition disclosure—pay‑for‑performance linkage appears weak.
- Option awards have high legacy strikes ($25.50) and newer $9.00 grants; depending on current stock levels, options may be out‑of‑the‑money, limiting near‑term exercise/selling pressure relative to RSU vesting.
- Ownership alignment is modest (<1%); insider sales under a 10b5‑1 plan in Q3 2025 were small (3,744 shares), suggesting low incremental selling pressure from Cohen individually, though ongoing RSU vesting could add flow‑through supply.
- Governance mitigants: SEC/Nasdaq‑compliant clawback policy and independent Compensation Committee reduce downside risk from restatement‑related overpayment and pay governance concerns.