Juan Diaz-Cartelle
Microbot MedicalAbout Juan Diaz-Cartelle
Dr. Juan Diaz-Cartelle is Chief Medical Officer (CMO) of Microbot Medical Inc. (MBOT), serving since December 1, 2023; he is 48 years old and trained as an Angiologist and Vascular Surgeon (MD, University of Navarra; specialty at Hospital General Universitario Gregorio Marañón, Madrid) . As CMO, he leads clinical strategy, medical affairs, and contributes to FDA regulatory processes and commercialization for the LIBERTY Endovascular Robotic Surgical System . During his tenure, Microbot reported pivotal clinical trial success and later received FDA 510(k) clearance for LIBERTY, notable milestones that frame the company’s transition toward commercialization .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Haemonetics Corporation (NYSE: HAE) | Executive Medical Director | May 2022 – Nov 2023 | Advised on new investments in cardiovascular; supported strategy |
| Boston Scientific Corporation (NYSE: BSX) | Senior Medical Director, Peripheral Interventional (Endovascular & IO) | Jun 2008 – May 2022 | Led global clinical strategy and study oversight; supported commercial activities and pipeline |
External Roles
- No current public-company board roles or committee positions disclosed for Dr. Diaz-Cartelle .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Bonus Paid ($) | Notes |
|---|---|---|---|---|
| 2025 | 367,500 | 35% (increased from 30%) | Not disclosed | Target bonus increase memorialized Feb 5, 2025 |
| 2024 | 350,000 | 30% | ~105,000 | Bonus payable if employed on Dec 31 |
| 2023 | 14,808 (partial year from Dec 1 start) | 30% | Not disclosed | Commenced employment Dec 1, 2023 |
Performance Compensation
Annual Cash Incentive
| Year | Metric | Weighting | Target | Actual | Payout Mechanics | Vesting/Timing |
|---|---|---|---|---|---|---|
| 2024 | Corporate performance factors (not specified) | Not disclosed | 30% of base salary | ~$105,000 | Bonus requires being employed on Dec 31 | Paid after fiscal year end |
| 2025 | Corporate performance factors; peer comparisons may be considered | Not disclosed | 35% of base salary | Not disclosed | Compensation Committee reviews annually | Post-year assessment |
Option Awards (Grants and Terms)
| Grant/Instrument | Shares | Exercise Price | Term/Expiration | Vesting |
|---|---|---|---|---|
| Employment agreement option grant | 25,000 | $1.29 (outstanding schedule) | 10 years; expires 01/12/2033 | Vests over 3 years |
| Aggregate February 2024 options | 35,000 (17,500 performance-based) | $1.2684 (17,500); $1.25 (13,125 shown outstanding) | 10 years; 02/22/2034 and 02/26/2034 | 10,500 performance-based vested by 02/05/2025; remainder subject to Compensation Committee confirmation |
Outstanding Options Detail (as of 12/31/2024)
| Line Item | Exercisable | Unexercisable | Exercise Price | Expiration |
|---|---|---|---|---|
| Initial grant (indicative) | 10,000 | 15,000 | $1.29 | 01/12/2033 |
| Feb 22, 2024 tranche | 5,687 | 11,813 | $1.2684 | 02/22/2034 |
| Feb 26, 2024 performance-based | 10,500 | 2,625 | $1.25 | 02/26/2034 |
Equity Ownership & Alignment
Beneficial Ownership
| As-of Date | Shares Beneficially Owned | % of Common Stock |
|---|---|---|
| Apr 15, 2025 (34,744,476 shares outstanding) | 32,562 | <1% |
| Record Date for Special Meeting (28,641,187 shares outstanding) | 18,875 | <1% |
- Footnote: Dr. Diaz-Cartelle’s beneficial ownership primarily represents options exercisable within 60 days; performance-based options awaiting Compensation Committee confirmation are excluded .
Alignment Checks
- Shares pledged or hedging arrangements: No pledging disclosures; Company maintains insider trading, blackout window, and Code of Ethics policies covering directors and officers .
- Ownership guidelines: No executive stock ownership guideline multiples disclosed for CMO .
Employment Terms
| Term | Provision |
|---|---|
| Effective date & role | Employment agreement effective Dec 1, 2023 as CMO; amended Feb 5, 2025 |
| Term & review | Indefinite term; annual Compensation Committee review of salary and bonus metrics |
| Notice | Either party may terminate at any time with at least one month prior written notice |
| For Cause termination | Immediate; forfeiture of further payments beyond amounts due through termination date; cure right per agreement |
| Good Reason resignation | If Company fails to cure, severance applies |
| Severance economics | If terminated without Cause or resigns for Good Reason: pay accrued salary; plus base salary for 1 month (if within first year) or 2 months (if after first year) paid in 12 equal monthly installments; pay unused accrued vacation; Company pays COBRA premiums (including dependents) for 12 months |
| Disability/illness termination | If unable to perform for continuous 150 days or aggregated 180 days in 365 days; pay earned salary/bonus and benefits through termination |
| Non-compete & non-solicit | Customary non-compete and non-solicit; plus non-disparagement, confidentiality, and IP ownership terms |
| Change-of-control | No specific change-of-control severance multiples or accelerated vesting terms disclosed in cited agreements |
| Clawback | Company adopted SEC/Nasdaq-compliant clawback policy effective Oct 2, 2023; recovery of incentive-based compensation upon restatement (three prior fiscal years) |
| Indemnification | D&O indemnification agreements and insurance for officers; subject to Delaware law |
Performance & Track Record
- Company Milestones during his tenure as CMO: successful pivotal clinical trial reported in April 2025 and subsequent FDA 510(k) clearance for LIBERTY in September 2025, underpinning commercialization efforts .
- Role mandate: lead clinical strategy, medical affairs, and support regulatory and commercial execution for LIBERTY .
Investment Implications
- Cash/equity mix and pay-for-performance: Base increased to $367,500 in 2025 while max bonus rose to 35%—a modest shift elevating at-risk cash comp; equity awards include performance-based options with confirmed vesting, showing compensation tied to corporate execution rather than guaranteed pay .
- Vesting calendar and potential selling pressure: Meaningful tranches remain unexercisable (e.g., 11,813 and 15,000 options) and will convert over time; as these vest, monitor Form 4s for potential incremental supply from exercises/sales .
- Ownership alignment: Beneficial ownership remains <1% of shares outstanding, primarily options within 60 days—limited “skin in the game,” mitigated by performance-conditioned equity and clawback policy covering incentive pay .
- Retention risk: Low severance (1–2 months of base salary) and customary non-compete/non-solicit reduce exit costs but may not strongly bind retention; continued equity grants and performance-based vesting are the primary retention levers .
- Execution signals: Documented clinical and regulatory progress under his CMO tenure supports operational momentum, increasing the likelihood of incentive attainment; aligns with the February 2024 performance option vesting confirmation .