Jennifer Bright
enVVeno MedicalAbout Jennifer Bright
Jennifer Bright, 54, has served as Chief Financial Officer of enVVeno Medical Corporation since May 19, 2025. She is a Certified Public Accountant with 25+ years of finance experience and holds a B.A. in Business Administration from the University of Washington . Company performance context prior to her appointment: NVNO reported net losses of $(24.7)M in 2022, $(23.5)M in 2023, and $(21.8)M in 2024, with cumulative TSR of $45.83 for 2024 under the SEC Pay-Versus-Performance disclosure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BIOLASE, Inc. | Chief Financial Officer | Until Nov 2024 | Led finance through asset sale to MegaGen Implant Co., LTD . |
| Spectrum Pharmaceuticals | Interim Director of Accounting | Jun–Dec 2020 | Stabilized accounting processes during transition . |
| Kellermeyer Bergensons Services | Corporate Controller | Nov 2018–Apr 2020 | Built reporting controls and financial discipline . |
| Advantage Solutions; Crunch Holdings; Apria Healthcare; Richmond American Homes | Senior accounting director/controller roles | Not disclosed | Senior leadership roles in finance and accounting . |
| PricewaterhouseCoopers LLP | Supervising Senior Auditor | Not disclosed | Public accounting and audit foundation . |
External Roles
None disclosed beyond corporate roles listed above .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $300,000 | Per Employment Agreement (appointed May 19, 2025) . |
| Target Bonus % | Up to 40% of base salary | Annual bonus eligibility; specific metrics not disclosed . |
| Term | At-will (no fixed term) | Continues until terminated under the agreement . |
Performance Compensation
Annual Bonus
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual bonus tied to Company/role KPIs (not specified) | Not disclosed | Up to 40% of salary | Not disclosed | Not disclosed | Cash bonus; annual cycle . |
Equity Awards (Options)
| Grant Date | Type | Shares | Exercise Price | Vesting Schedule | Notes |
|---|---|---|---|---|---|
| May 19, 2025 | Non-qualified stock options | 350,000 | $3.62 | Quarterly over 3 years with a 1-year cliff (no vesting until May 19, 2026) | Granted under Amended & Restated 2016 Plan; continued employment required . |
• Clawback/recoupment: All cash and equity are subject to the Company’s clawback policy adopted in accordance with Nasdaq rules and Rule 10D-1; the 2025 Equity Incentive Plan also embeds recoupment .
• Change-in-control treatment (plan-level): Awards for non-directors may vest on change-in-control if not assumed; if assumed, double-trigger vesting applies upon qualifying separation within two years, with performance awards vesting at target or actual/prorated per plan .
Equity Ownership & Alignment
| Item | Amount/Status | Notes |
|---|---|---|
| Beneficial ownership (common shares) | 0 shares (as of Oct 17, 2025) | Listed as “—” in principal stockholders table; 20,216,176 shares outstanding at record date . |
| Form 3 (initial ownership filing) | Filed May 20, 2025; “No securities are beneficially owned” | Confirms zero holdings at appointment . |
| Options outstanding | 350,000 at $3.62 | Granted May 19, 2025 . |
| Vested vs. unvested | 0 vested as of Oct 17, 2025 | One-year cliff; earliest vest May 19, 2026 . |
| Pledging/Hedging | Awards may not be sold/pledged/transferred; insider trading policy in place | Transferability restrictions under plan; insider trading policy filed in 10-K . |
| Ownership guidelines | Not disclosed | No specific officer ownership multiple disclosed in filings . |
Employment Terms
| Provision | Term | Notes |
|---|---|---|
| Start date | May 19, 2025 | Appointed CFO; 8-K disclosure . |
| Severance | 3 months per year of service, capped at 12 months | Payable upon termination without Cause or resignation for Good Reason, plus accrued benefits . |
| Change-of-control (individual agreement) | Not specified in summary | Equity plan-level CIC provisions govern award treatment . |
| Covenants | Confidentiality, non-solicitation, non-disparagement | Standard covenants; indemnification agreement executed . |
| Non-compete | Not disclosed | No non-compete term disclosed in 8-K summary . |
Company Pay vs Performance Context
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Total Shareholder Return (TSR) | $77.39 | $78.00 | $45.83 |
| Net Loss ($USD) | $(24,669,000) | $(23,516,000) | $(21,819,000) |
Board Governance (context)
- Compensation Committee: Chair Dr. Sanjay Shrivastava; members Robert Gray and Matthew Jenusaitis; responsible for executive compensation programs and agreements .
- Insider trading policy and Code of Conduct adopted; insider filings timely in 2024; no material legal proceedings involving executives disclosed .
Risk Indicators & Red Flags
- Equity award repricing permitted under 2025 Plan without shareholder approval (administrator discretion), a potential governance red flag .
- No related party transactions involving Ms. Bright reported; 8-K explicitly notes none under Item 404(a) .
- Legal proceedings: none material involving executives; Company is late clinical-stage with historical net losses, elevating execution and financing risk .
Investment Implications
- Alignment: Zero common share ownership to date reduces immediate “skin-in-the-game,” but 350,000 options with a one-year cliff and 3-year vesting tie upside to equity performance; clawback and plan-level CIC provisions add discipline .
- Selling pressure: Minimal near-term; the one-year cliff means no vesting—and thus no option exercises—until May 2026, lowering insider sale risk over the next two earnings cycles .
- Retention: Severance up to 12 months is moderate; absence of a disclosed non-compete may modestly increase mobility risk, partly offset by unvested equity .
- Governance watchouts: The 2025 Plan’s ability to reprice options without shareholder approval is a shareholder-unfriendly feature; monitor future grants and any repricing actions .
- Execution: Prior CFO experience at BIOLASE through a complex asset sale and multiple controller roles suggest transactional and operating competence; given NVNO’s pre-commercial stage and net losses, finance discipline and capital markets execution will be critical .