Bradley Mitch Watkins
About Bradley Mitch Watkins
Bradley Mitch Watkins, age 50, is Director and Chairman of the Board at Neuraxis (NRXS). He is deemed an independent director under SEC and NYSE American rules, with board-review affirming no relationships interfering with independent judgment . Watkins has 20+ years in medical devices, leading early commercialization and overseeing $410 million in company acquisitions; he holds a bachelor’s degree in behavioral science from the University of Maryland . He has served as National Sales Manager at Terumo Interventional Systems since 2015 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Various medical device companies (unspecified) | Lead for field operations; early commercialization | ~20 years | Oversaw $410M in acquisitions; responsibilities across marketing, clinical study design, manufacturing, R&D, FDA submissions, fiscal oversight |
| Neuraxis (NRXS) | Director and Chairman of the Board | Current | Independent director; service across Audit, Compensation, and Nominating & Corporate Governance committees |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Terumo Interventional Systems | National Sales Manager | Since 2015 | Leads new technology sales teams in peripheral IV and electrophysiology markets |
Board Governance
- Role: Director and Chairman of the Board; independence affirmed by the board .
- Committee memberships:
- Audit Committee (member); committee chair is Kristin Ferge; members are Ferge, Watkins, Keyser; all members financially literate; Ferge is Audit Committee financial expert .
- Compensation Committee (member); chair is Dr. Gil Aharon; members are Aharon, Watkins, Keyser, Ferge; all independent .
- Nominating & Corporate Governance Committee (member); chair is Beth Keyser; members are Watkins, Keyser, Ferge; all independent .
- Separation of Chair/CEO: CEO is Brian Carrico; Board Chair is Bradley Mitch Watkins (independent) .
- Attendance: Not disclosed in the proxy; no meeting attendance rates found .
Fixed Compensation
| Year | Fees Earned (Cash) ($) | Total ($) |
|---|---|---|
| 2024 | 60,000 | 110,000 |
Notes:
- The non-employee director compensation policy applies; employees receive no additional director pay .
- Committee chair and meeting fee details are not itemized; no additional breakdown disclosed .
Performance Compensation
| Year | Stock Awards ($) | Instrument Type | Vesting/Performance Metrics |
|---|---|---|---|
| 2024 | 50,000 | Not specified | No director-specific performance metrics or vesting schedules disclosed for 2024 awards |
Plan-level features (context):
- The 2022 Omnibus Plan permits RSUs, PSUs, stock options, SARs, and unrestricted stock awards; awards may include acceleration upon change of control and forfeiture for restrictive covenant violations .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None; “Our directors are not directors in any other reporting companies.” |
| Private/non-profit boards | Not disclosed |
| Potential interlocks | External employment at Terumo Interventional Systems; no related-party transactions with Terumo disclosed |
Expertise & Qualifications
- Early-stage commercialization leadership across medical device companies; $410M acquisitions overseen; cross-functional responsibilities in marketing, clinical studies, manufacturing, R&D, FDA submissions, fiscal oversight .
- Financial literacy confirmed via Audit Committee requirements; Audit Committee composed of financially literate members .
- Education: Bachelor’s in behavioral science, University of Maryland .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % of Common | Voting Power % |
|---|---|---|---|
| Bradley Mitch Watkins | 24,737 | <1% | Not separately stated (“*”) |
Additional ownership and alignment details:
- Breakdown of vested vs unvested shares: Not disclosed .
- Options held: None disclosed for Watkins; options cited for other executives only .
- 10b5-1 trading plans: None .
- Pledging/hedging: Not disclosed .
Insider Trades
| Item | Disclosure |
|---|---|
| 10b5-1 trading plan | None |
| Form 4 transactions | Not disclosed in proxy materials |
Related Party Transactions (Director-Specific)
- Watkins provided sales/marketing/commercialization consulting services prior to Board appointment; Company paid $11,083 in 2023 and $0 in 2024 .
- Company policy requires Audit Committee (or independent directors) pre-approval for related party transactions over threshold; applies to directors and >5% holders .
Compensation Structure Analysis (Director)
- 2024 mix: Cash $60,000 and Stock Awards $50,000 (cash/equity mix derived from disclosed amounts) .
- No disclosed shift in instruments (options vs RSUs) or performance-conditioned director awards; only aggregate “stock awards” disclosed .
- No disclosed meeting or chair fee supplements; not itemized .
Governance Assessment
-
Positives:
- Independent Chairman role separated from CEO, enhancing board oversight .
- Service on all three key committees (Audit, Compensation, Nominating/Governance), with committees meeting independence and literacy requirements; Audit Committee has an identified financial expert (Ferge) .
- No compensation committee interlocks; members have never been officers/employees of the Company .
-
Watch items / potential red flags:
- Prior consulting payments to Watkins (pre-board) could raise perceived conflict risk; however, 2024 payments were $0 and a formal related-party policy exists requiring Audit Committee review .
- Family relationship within management: CEO Brian Carrico is the son of Chief Regulatory Officer Dr. Thomas Carrico—heightened monitoring of independence in compensation/succession matters advisable .
- Broader governance context includes founder loans at high interest rates and fully reserved insider notes; while not related to Watkins, these indicate historical related-party exposure requiring robust committee oversight .
- Capital structure complexity and Series B Preferred voting/issuance dynamics may affect governance balance and dilution; continued board-level investor communication recommended .