Eric Hines
About Eric Hines
Eric Hines, 58, is President, Chief Executive Officer, and a director of Milestone Scientific (MLSS) since July 31, 2025. He holds a BS in Chemistry from Wake Forest University (1989) and an MBA in International Business from Xavier University (1996) . Prior roles include scaling Ex Libris North America from ~$50M to >$100M revenue and leading a >$90M business at NICE Systems; early initiatives at MLSS have focused on expense reduction (~20% YoY in Q3 2025) and commercial execution with modest revenue growth noted . TSR/EBITDA metrics tied to his tenure are not disclosed in filings reviewed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ex Libris Group (Clarivate division) | President, North America | Sep 2014 – Jun 2021 | Increased annual revenue from ~$50M to >$100M; launched new product lines; drove expansion across Americas |
| NICE Systems | Senior Director of Sales; then VP roles across North America divisions | Oct 2004 – Jun 2014 | Led >$90M North American security business; oversaw CEM central/west regions and channel sales |
| AMDOCS Clarify CRM | Regional Director of Sales | Oct 2003 – Oct 2004 | Led regional sales in communications CRM |
| Alethea (tech start-up) | Consultant | Jun 2021 – Jul 2025 | Provided consulting services; also invested in real estate ventures |
External Roles
- Company filings reviewed do not disclose other public-company board service or external committee roles for Mr. Hines beyond MLSS .
Fixed Compensation
| Component | Amount | Timing/Term | Notes |
|---|---|---|---|
| Base salary | $15,000 per month | Initial Term: Jul 31, 2025 – Dec 31, 2025 | As CEO; per appointment terms |
| Base salary (if extended) | $25,000 per month | From Jan 1, 2026 (subject to mutual agreement) | Extended Term contingent on continued employment |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual incentive bonus | Performance-based bonuses plus discretionary bonus (Compensation Committee determined) | Not disclosed | Not disclosed | Not disclosed | Determined by Compensation Committee | Cash (timing not disclosed) |
| Signing Bonus Options | Equity options | N/A | N/A | N/A | N/A | 2,000,000 options at $0.50; 10% vests at grant; remaining 90% vests in three equal annual tranches of 600,000 shares each |
Equity Ownership & Alignment
| Item | Detail | Policy/Status |
|---|---|---|
| Beneficial ownership | 325,000 shares; less than 1% of outstanding as of Nov 4, 2025 | Defined to include securities exercisable within 60 days; percentages based on company methodology |
| Equity awards | 2,000,000 stock options; exercise price $0.50; 10% immediate vest; 3 annual tranches of 600,000 thereafter | Long-dated option structure; initial alignment via equity |
| Hedging/pledging | Prohibited from short sales; holding in margin accounts; pledging as collateral | Insider trading policy and blackout periods apply; trades require pre-clearance or qualified 10b5-1 plan; no 10b5-1 adoption/termination in last fiscal quarter |
| Ownership guidelines | Not disclosed | — |
Employment Terms
| Term | Provision | Notes |
|---|---|---|
| Appointment date | Effective July 31, 2025 | CEO and director |
| Initial Term | Jul 31, 2025 – Dec 31, 2025 | $15,000/mo base |
| Extended Term | From Jan 1, 2026 (by mutual agreement) | $25,000/mo base |
| Annual bonus | Performance-based plus discretionary | Determined by Compensation Committee |
| Equity | Signing Bonus Options | 2,000,000 options at $0.50; 10% immediate vest; 3 x 600,000 annually |
| Severance | Not disclosed | — |
| Change of control | Not disclosed | — |
| Non-compete / Non-solicit | Not disclosed for Hines | — |
| Clawback | Company policy to recover excess incentive-based comp upon restatement | Applies to cash/equity incentives for executive officers over prior 3 fiscal years |
Board Governance
- Board service: Director since 2025; not independent (management director) .
- Committee roles: Board maintains Audit, Compensation, and Nominating & Corporate Governance committees; specific committee memberships for Hines are not disclosed; CEOs typically do not serve on independent committees .
- Board leadership: Chair role separated from CEO; Benedetta Casamento designated to serve as Chair upon election; Neal Goldman as Vice Chair, reducing CEO/Chair dual-role concerns .
- Independence: Majority independent directors as of the 2025 proxy; Hines and Dr. Demesmin noted as non-independent .
- Board activity: In 2024, Board met six times; all directors attended ≥75% of meetings; acted by unanimous consent six times .
Director Compensation
| Program Element | Amount | Notes |
|---|---|---|
| Annual retainer (non-executive directors) | $100,000 in stock awards | Paid in equity to build ownership alignment |
| Chair of Board | $120,000 in stock awards | Higher retainer for Chair |
| Committee chair fee | +$10,000 per year | Audit, Compensation, Nominating chairs receive additional stock awards |
| 2024 director compensation (examples) | Casamento $120,000; Goldman $120,000; Osser $100,000; Demesmin $100,000; McGeehan $110,000 | Reported amounts for FY2024 |
Performance & Track Record
- Prior operating track record: Scaled Ex Libris North America revenue from ~$50M to >$100M; led >$90M NICE Systems business .
- Early MLSS execution: Implemented strategy to expand sales, streamline marketing, secure international registrations; reduced Q3 2025 operating expenses by ~20% YoY, noted modest revenue growth and increasing recurring revenue from CompuFlo disposables .
Related-Party Transactions and Governance Environment
- Leonard Osser agreements: Royalty sharing and modified employment/consulting arrangements; options grant of 2,000,000 shares vesting over 5 years after stepping down as CEO; compensation under employment and consulting agreements payable for 9.5 years from May 19, 2021 .
- University Pain Medicine Center (STEMMEE): Purchases of MLSS medical products; CEO is Company director Dr. Didier Demesmin; approximate purchases of $12k and $33k for Q3 and nine months ended Sep 30, 2025 .
- Consulting agreement: Arjan Haverhals consulting fees and future share issuance per agreement; $350,000 annualized with specified quarterly rates; 912,736 shares to be issued six months after resignation as CEO; not yet issued as of Sep 30, 2025 .
Risk Indicators & Red Flags
- Listing compliance: NYSE American deficiency notice (Sections 1003(a)(ii) and (iii)), requiring compliance plan by Nov 7, 2025; potential delisting if not resolved by Apr 8, 2027; signed by Eric Hines (noting his CFO title in the filing) .
- Hedging/pledging prohibited: Reduces misalignment risk; strict blackout and pre-clearance policies; no Rule 10b5-1 adoptions/terminations in the last fiscal quarter .
Equity Ownership Details (as of Nov 4, 2025)
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Eric Hines | 325,000 | Less than 1% |
Investment Implications
- Alignment: Large signing option grant with multi-year vesting aligns Hines with long-term equity value creation; immediate 10% vesting plus three annual tranches creates retention hooks through 2028 . Prohibition on pledging/margin and presence of a clawback policy support shareholder-friendly governance .
- Pay for performance: Cash compensation is modest ($15k/mo rising to $25k/mo) with unspecified performance-based bonus metrics, indicating equity-heavy alignment but limited disclosure on KPI weighting (revenue/EBITDA/TSR) . Lack of explicit severance/change-of-control terms in filings reduces known parachute risk, but leaves uncertainty around termination economics.
- Execution: Early actions under Hines show cost discipline (~20% opex reduction YoY in Q3 2025) and commercial focus; continued progress on reimbursements and product relaunch could improve fundamentals and equity option value .
- Governance: Separation of Chair and CEO mitigates dual-role concerns; majority independent board composition sustained; related-party ties (Osser, Demesmin, Haverhals) warrant ongoing monitoring for conflicts and cost structure impact .
- Trading signals: No disclosed 10b5-1 plans recently; beneficial ownership under 1% suggests incremental option-driven alignment rather than large outright share ownership; NYSE American compliance risk is a near-term overhang that may influence incentive outcomes and capital markets access .