Christopher Volker
About Christopher Volker
Christopher R. Volker, 53, is Chief Operating Officer at NeuroOne Medical Technologies (NMTC), appointed effective November 10, 2023. He holds a B.A. in Economics and Management from St. John’s University and an MBA in Finance from The Wharton School, University of Pennsylvania . Volker’s background spans commercial expansion, corporate development, and reimbursement strategy in medtech, with notable international P&L leadership at Cardiovascular Systems, Inc. (CSI) and integration experience at Abbott post-acquisition . Company performance context: NMTC reported net losses of $12.3M (FY2024), $11.9M (FY2023), and $10.0M (FY2022), and disclosed pay-versus-performance TSR values of $24.75 (2024), $22.25 (2023), $42.25 (2022) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Abbott Laboratories (post acquisition of CSI) | Head of Commercial Integration | 2023 | Led integration and commercial alignment following Abbott’s acquisition of CSI . |
| Cardiovascular Systems, Inc. | VP & GM, International | 2017–2023 | Built international commercial expansion; reported driving sales growth from $0 to over $5M per quarter . |
| Cardiovascular Systems, Inc. | VP, Corporate Development & Health Economics & Reimbursement | 2014–2017 | Led corporate strategy, distribution negotiations, and reimbursement strategies for new technologies . |
| St. Jude Medical | Corporate development, market research, health economics; HR leadership in Cardiovascular Division | Prior to CSI | Broad executive responsibilities across business units in strategy and reimbursement . |
| Investment Banking | Healthcare/technology | Early career | Experience in M&A, strategic planning, asset sales, and growth equity investments . |
External Roles
None disclosed for Volker (no current public company directorships or committee roles noted) .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Base Salary | $256,364 | Actual paid for FY2024 . |
| Target Bonus % | 40% of base salary | Set by Compensation Committee; COO target . |
| Actual Bonus Paid | $89,727 | Paid at 85% achievement of targets; equals 85% of 40% target on FY2024 base . |
Performance Compensation
In FY2024, the Compensation Committee set weighted corporate objectives spanning R&D, financing, commercialization milestones, and other goals; achievement assessed at 85%, with payouts at 85% of target for NEOs, including Volker .
| Metric Category | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Corporate objectives (R&D, financing, commercialization, other) | Not disclosed | Annual plan set Nov 2023 | 85% achieved | 85% of target bonus | Cash bonus for FY2024 . |
Equity awards are primarily stock options, used to align interests and for retention; the 2025 Equity Incentive Plan adds share pool and evergreen replenishment to support recruitment/retention and pay program flexibility .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 183,186 shares (<1%) as of Jan 3, 2025 . |
| Breakdown (60-day) | Includes 108,186 shares issuable upon exercise of options vested or vesting within 60 days of Jan 3, 2025 . |
| Outstanding Options (grant) | 324,560 options granted Nov 10, 2023 at $1.32; 25% vested on Nov 10, 2024, remainder monthly over 36 months . |
| Vested vs Unvested (9/30/2024) | 0 exercisable, 324,560 unexercisable (prior to first vest date) . |
| Hedging/Pledging | Hedging prohibited for directors, officers, employees (prepaid forwards, swaps, collars, exchange funds); no pledging policy disclosure found . |
| Ownership Guidelines | No executive stock ownership guideline disclosure found in proxy . |
Employment Terms
| Term | Volker Offer Letter (11/10/2023) | Current Proxy (2025, amended 9/9/2024) |
|---|---|---|
| Employment type | At-will | At-will . |
| Base salary | $288,000 | Current base subject to adjustments . |
| Target bonus | Up to 40% of base (discretionary) | 40% target referenced in compensation framework . |
| New hire equity | Option for 324,560 shares; $1.32 strike; 10-year term; 25% vest at 1 year; remainder monthly over 36 months; CIC acceleration if not assumed . | |
| Severance (CIC window) | 50% of base salary if terminated w/o cause or Good Reason within 12 months after or 3 months prior to CIC (with release) . | 1.25x base salary + 1.25x target bonus lump sum; 15 months company-paid health coverage; double-trigger (termination w/o cause or Good Reason within 12 months after or 3 months prior to CIC) . |
| Indemnification | Standard D&O indemnification agreement . | |
| Non-compete / Non-solicit | Non-compete during employment; non-solicitation/hire of employees for 1 year post-employment; non-solicit of consultants/customers for 1 year . | |
| Clawback | Company must recover incentive-based compensation for Section 16 officers upon certain restatements (3-year lookback) . |
Performance & Track Record
- CSI international sales growth: press release notes building quarterly sales from $0 to >$5M per quarter during Volker’s tenure as VP & GM, International .
- Operational domain expertise: commercial expansion, corporate development, reimbursement strategy; integration leadership at Abbott post-acquisition .
Insider Transactions and Forms
- Form 3 filed: Volker filed SEC Form 3 reflecting his appointment on November 10, 2023 .
- Inducement option grant: 324,560 options at $1.32 per share granted on Nov 10, 2023 under Nasdaq Listing Rule 5635(c)(4), with vesting described above .
Company Pay vs Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Total Shareholder Return ($) | $42.25 | $22.25 | $24.75 |
| Net Loss ($) | $9,999,613 | $11,859,491 | $12,318,110 |
NMTC Financial Performance (context for pay-for-performance)
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Revenues ($) | $3,407,629* | $3,453,003 |
| EBITDA ($) | $(11,755,984)* | $(11,640,418)* |
| Net Income - (IS) ($) | $(11,859,491)* | $(12,318,110)* |
| Cash from Operations ($) | $(12,886,874)* | $(11,011,840)* |
Values retrieved from S&P Global.
- indicates values without document citations.
Quarterly (FY2025 YTD):
| Metric | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|
| Revenues ($) | $3,274,167 | $1,386,550 | $1,696,050 |
| Net Income - (IS) ($) | $1,785,322 | $(2,270,607)* | $(1,500,868)* |
| Cash from Operations ($) | $208,049 | $(56,144)* | $(1,463,505)* |
Values retrieved from S&P Global.
- indicates values without document citations.
Compensation Structure Analysis
- Cash vs equity mix: Volker’s 2024 total compensation ($712,147) comprised $256,364 salary and $89,727 cash bonus with $366,056 option grant value, emphasizing equity-heavy alignment typical for NMTC .
- Performance linkage: 85% achievement against weighted corporate objectives drove bonus payout, indicating at-risk cash aligned to operational milestones .
- Equity award design: New hire options with 1-year cliff then monthly vesting create ongoing retention hooks; CIC acceleration if awards are not assumed .
- Plan capacity: 2025 Equity Plan adds a 3,000,000 share pool plus evergreen (5% annually), suggesting continued reliance on equity; potential dilution trade-off .
Risk Indicators & Red Flags
- Listing compliance/dilution: Reverse split authorization (1-for-2 to 1-for-15) to address Nasdaq $1 minimum bid requirement; increased authorized but unissued shares post-split could facilitate future issuance/dilution .
- Hedging ban: Insider trading policy prohibits hedging; no explicit pledging policy disclosure found—a positive on alignment but pledging status unknown .
- Clawback: Section 16 officer clawback policy in place—mitigates restatement-related windfall risk .
Investment Implications
- Alignment: Equity-heavy pay and monthly vesting likely align Volker’s incentives with sustained operational progress; hedging prohibition strengthens alignment; absence of pledging disclosures reduces a common red flag but remains unknown .
- Retention risk: Double-trigger CIC severance improved to 1.25x salary + 1.25x target bonus plus 15 months benefits, moderate by small-cap medtech standards—supports retention through strategic events .
- Trading signals: Ongoing monthly vesting of options (post 1-year cliff) can create periodic 10b5-1 plan activity and modest selling pressure around vest dates; watch insider Form 4s for patterns .
- Dilution/listing risks: Reverse split and expanded equity plan enable capital access but can increase dilution; monitor shareholder approvals and execution against commercialization milestones to offset dilution concerns .