Paul Buckman
About Paul Buckman
Independent, non-executive Chairman of the Board of NMTC since August 2017; age 69. Currently CEO of Rhythmlink International LLC (since April 2024). Holds an MBA in Finance and a B.A. in Business Administration from Western Michigan University. Recognized by NMTC’s Board as independent and as an audit committee financial expert. Attendance met at least 75% for Board and committee meetings in FY2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| LivaNova PLC | President, Advanced Circulatory Support; President North America; GM Structural Heart | Apr 2017–2020 (roles) | Large-device operating leadership |
| Conventus Orthopaedics | Chief Executive Officer | Sep 2013–Mar 2017 | CEO of fracture fixation innovator |
| Sentreheart, Inc. | Chief Executive Officer | Feb 2012–Sep 2013 | Closure devices leadership |
| Pathway Medical Technologies | CEO & Chairman | Sep 2008–Feb 2012 | Grew peripheral arterial disease tech |
| Devax, Inc. | Chief Executive Officer | Dec 2006–Sep 2008 | Drug-eluting stents leadership |
| St. Jude Medical | President, Cardiology Division | Aug 2004–Dec 2006 | Global cardiology marketing/ops |
| ev3, LLC | Founder, CEO & Chairman | Jan 2001–Jan 2004 | Built endovascular therapies to ~$80M business |
| Boston Scientific | President, Cardiology Division | Jan 2000 | Senior executive posts in cardiology |
External Roles
| Organization | Role | Public/Private | Tenure | Notes |
|---|---|---|---|---|
| Rhythmlink International LLC | Chief Executive Officer; Director | Private | Apr 2024–present | Neurodiagnostic products |
| Helius Medical Technologies (HSDT) | Director | Public | Current | Medical device board service |
| Ablative Solutions, Inc. | Director | Private | Current | Device company director |
| ActivOrtho Inc. | Director | Private | Current | Orthopedics |
| Shoulder Innovations, Inc. | Director | Private | Current | Orthopedics |
| Miromatrix, Inc. | Chairman | Private | Current | Regenerative medicine |
| Prior boards (selected) | Director | Mixed | Past | Aortica; Conventus; Caisson; Velocimed; EndiCor; Microvena; Nuwellis (NUWE); NexGen; Micro Therapeutics |
Interlocks context: Other NMTC directors hold external public company roles (e.g., Rosa: BTCY, BRTX, HCTI; McClurg: BTCY, HCTI), creating broader networks but no specific related-party transactions disclosed for Buckman.
Board Governance
- Roles: Non-executive Chairman; independent director; audit committee financial expert
- Committee memberships and chairs:
- Compensation Committee: Chair
- Audit Committee: Member
- Nominating & Corporate Governance Committee: Member
- Leadership structure: Chair/CEO positions split; Buckman sets agendas and presides over Board meetings
- Independence: Board majority independent; Buckman independent (CEO Rosa not independent)
- Policies: Hedging prohibited by Insider Trading Policy; Clawback policy adopted per Nasdaq rules (Section 16 officers)
- Attendance: ≥75% attendance for all directors; all attended 2024 annual meeting
| Committee Meetings (FY2024) | Count |
|---|---|
| Board meetings | 6 |
| Audit Committee | 4 |
| Compensation Committee | 6 |
| Nominating & Corporate Governance | 1 |
Fixed Compensation
| Component | FY2023 | FY2024 |
|---|---|---|
| Annual retainer (non-executive chairman) | $100,000 | $100,000 |
| Audit Committee chair fee | $12,500 | $17,000 |
| Audit Committee member fee | $5,000 | $9,000 |
| Compensation Committee chair fee | $10,000 | $10,000 |
| Compensation Committee member fee | $4,000 | $6,000 |
| Nominating & Gov chair fee | $10,000 | $10,000 |
| Nominating & Gov member fee | $4,000 | $5,000 |
| Director Cash Compensation | FY2023 | FY2024 |
|---|---|---|
| Paul Buckman – Fees Earned or Paid in Cash ($) | $119,000 | $169,000 |
Performance Compensation
- Structure: Annual equity award of $50,000 to each non-employee director at each annual meeting; 2/3 RSUs and 1/3 stock options; vests in 12 monthly installments subject to continued service. Non-employee director compensation cap: $750,000 per year ($1,000,000 for first-year appointments). No performance (financial/TSR/ESG) metrics tied to director equity awards disclosed.
| Equity Grants (Director Policy) | FY2023 | FY2024 |
|---|---|---|
| Annual equity grant value | $50,000 (RSUs+Options; monthly vesting) | $50,000 (RSUs+Options; monthly vesting) |
| Paul Buckman – RSU grant date fair value ($) | $33,333 | — (not itemized in 2025 proxy table) |
| Paul Buckman – Option grant date fair value ($) | $16,654 | — (not itemized in 2025 proxy table) |
Performance metrics: None disclosed for director awards (time-based vesting only).
Other Directorships & Interlocks
| Company | Role | Committee Roles (if disclosed) |
|---|---|---|
| Helius Medical Technologies (HSDT) | Director | Not disclosed |
| Ablative Solutions | Director | Not disclosed |
| ActivOrtho | Director | Not disclosed |
| Shoulder Innovations | Director | Not disclosed |
| Miromatrix | Chairman | Not disclosed |
| Rhythmlink International | CEO; Director | Not disclosed |
NMTC board peers: Rosa (BTCY, BRTX, HCTI); McClurg (BTCY, HCTI). No specific transactional interlocks with Buckman disclosed.
Expertise & Qualifications
- 30+ years medical device leadership; founder/operator across cardiovascular and structural heart; broad commercialization and product development experience.
- Audit committee financial expert designation (SEC definition).
- Education: MBA (Finance) and BA (Business Administration), Western Michigan University.
Equity Ownership
| Item | Detail |
|---|---|
| Total beneficial ownership (shares) | 234,649 |
| Ownership (% of outstanding) | <1% |
| Options exercisable/vesting within 60 days | 125,623 |
| RSUs (unvested at FY2023 year-end) | 8,574 (prior-year reference) |
| Shares pledged as collateral | Not disclosed |
| Hedging/Pledging policies | Hedging prohibited by Insider Trading Policy; pledging not specified. |
Governance Assessment
- Strengths:
- Independent, experienced non-executive chair; separation of Chair/CEO enhances oversight.
- Deep operating background in medtech; designated audit committee financial expert.
- Consistent attendance and engagement; Board and committees active in FY2024.
- Formal clawback policy aligned with Nasdaq rules; anti-hedging policy in place.
- Watch items / RED FLAGS:
- Committee concentration: same three independent directors populate all committees, which may constrain diversity of perspectives.
- Equity plan provisions allow repricing/cancellation and substitution of awards (with participant consent)—shareholder-sensitive feature; evergreen share increases proposed through 2035.
- Company-level listing risk: reverse stock split proposal to cure Nasdaq $1 bid price deficiency; potential dilution and increased authorized-but-unissued shares post-split.
- Multiple external roles may raise time-commitment and potential indirect interlock considerations; no related-party transactions involving Buckman disclosed.
Director compensation alignment: Cash retainer and committee fees increased in 2025; equity grants continue to be time-based without performance metrics, limiting direct pay-for-performance linkage at the director level.
Attendance signal: Met ≥75% thresholds; all directors attended annual meeting—positive engagement marker.