Andrew Taylor
About Andrew Taylor
Andrew L. Taylor is Chief Financial Officer of Orchestra BioMed (OBIO), serving since June 2023; he is 54 years old, with a B.A. in Political Science and Economics from McGill University, an MBA in Finance from Northeastern University, and is a CFA Program Level II Candidate . Prior roles include CFO of Motus GI (2017–2023) and CFO/President of Avertix Medical (2007–2017); he oversaw FP&A, capital raising, licensing, and U.S./Brazil operations, and later served on Avertix’s board through August 2024; Avertix underwent a Chapter 11 reorganization with plan effectiveness in March 2019 . OBIO’s executive bonuses are tied to corporate milestones (AVIM pivotal study progress, Virtue SAB program, partnerships/pipeline, and public-company execution), with Taylor’s bonus also subject to individual performance modifiers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Motus GI (Nasdaq: MOTS) | Chief Financial Officer | Aug 2017 – Jun 2023 | Led finance for a Nasdaq-listed medtech company in which OBIO had a strategic investment . |
| Avertix Medical (f/k/a Angel Medical Systems) | CFO and President; Director | 2007–2017 (CFO/President), Director 2017–Aug 2024 | Supervised operations in U.S./Brazil; directed FP&A, capital raising, licensing, and capital budgets; company emerged from Chapter 11 in Mar 2019 . |
| AC Lordi Consulting (now BDO USA) | Practice Leader | 2005–2007 | Oversaw teams providing CFO/Controller consulting services . |
| Safe3w, Inc. | Chief Financial Officer | 2001–2005 | Led accounting/finance, fundraising, and negotiated sale to iPass . |
| Abridge, Inc. | VP Finance & Administration | 1999–2001 | Built budgeting, forecasting, and cash management processes . |
| Delta Air Lines (NYSE: DAL) | Senior Finance Associate | 1998–1999 | Early corporate finance role . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avertix Medical | Director | 2017 – Aug 2024 | Continued governance involvement following executive tenure . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $227,000 | $395,000 |
| Target Bonus (% of Base) | 50% | 50% |
| All Other Compensation ($) | $6,929 | $12,075 |
Notes:
- 2023 salary reflects 7/12 of annual salary due to June 2023 start .
- “All other compensation” is primarily 401(k) employer match .
Performance Compensation
Annual Cash Incentives
| Year | Corporate Goal Achievement | Individual Modifier | Target ($) | Actual Payout ($) | Basis |
|---|---|---|---|---|---|
| 2023 | 75% of corporate goals achieved | Taylor’s bonus: 25% individual weighting; awarded at 83.3% of target | $197,500 (50% of $395,000)* | $99,367 | AVIM/BackBeat study, Virtue SAB IDE and restructuring, pipeline/BD, public readiness . |
| 2024 | Company achievement 65% | Taylor awarded at ~79% of target after individual modifier | $197,500 (50% of $395,000)* | $155,334 | AVIM pivotal (BACKBEAT) enrollment; Virtue SAB manufacturing/approvals/restructuring with Terumo; pipeline/partnerships; public company execution . |
*Values derived from disclosed target percentage and base salary ; actual payouts per Summary Compensation Table .
Equity Awards (Grant Fair Value at Grant Date)
| Metric | 2023 | 2024 |
|---|---|---|
| Stock Awards ($) | $2,065,453 | $498,000 |
Equity award design:
- 2023 initial RSU grant: 278,363 RSUs granted on Jul 20, 2023; RSUs vest 34% at 18 months, 33% at 24 months, 33% at 36 months from Jun 6, 2023 Vesting Commencement Date .
- 2024 RSU grant: 100,000 RSUs granted on May 8, 2024; 15,000 vest on May 20, 2025, remaining 85,000 vest in equal installments on Aug 20, 2025; Nov 20, 2025; Dec 20, 2025; May 20, 2026; Aug 20, 2026; Nov 20, 2026; Mar 25, 2027; May 20, 2027; Aug 20, 2027; Nov 20, 2027; Mar 25, 2028; May 20, 2028 .
Compensation benchmarking and equity pool:
- FW Cook engaged Oct 3, 2024; no conflicts identified .
- 2024 option-equivalent equity pool set at 5.1% of shares vs peer median 5.8% .
- CFO peer median allocation: 5.0% of pool; Taylor allocated 8.3% reflecting contributions .
Equity Ownership & Alignment
| As-of Date | Total Beneficial Ownership (Shares) | % of Shares Outstanding | Breakdown |
|---|---|---|---|
| Apr 28, 2025 (Record Date) | 126,240 | <1% | 61,240 held directly; 65,000 RSUs scheduled to settle within 60 days . |
Unvested equity as of Dec 31, 2024:
- 183,720 RSUs from 7/20/2023 grant remained unvested .
- 100,000 RSUs from 5/8/2024 grant remained unvested .
Insider trading activity (alignment signals):
- Bought 1,000 OBIO shares on Dec 19, 2024 .
- Bought 2,000 OBIO shares on Aug 25, 2025 ; related SEC Form 4 filing for Aug 2025 confirms insider reporting .
Policies:
- Company anti-hedging and insider trading policy prohibits short sales and requires trading windows and pre-clearance for identified insiders; no pledging disclosures specific to Taylor .
Employment Terms
| Provision | Key Terms |
|---|---|
| Role & Base Pay | CFO; base salary $395,000; annual target bonus 50% of base . |
| Initial Equity | 278,363 RSUs granted July 20, 2023; vest at 18/24/36 months from Jun 6, 2023 . |
| Severance (No Cause / Good Reason) | Base salary continuation for 9 months (<18 months tenure) or 12 months (≥18 months); COBRA reimbursement during Severance Period; accelerated vesting of 2023 RSUs to the extent they would vest during Severance Period . |
| Change-in-Control (CiC Termination within 3 months before to 12 months after CiC) | Severance Period increases to 12 months if within first 18 months; one-time payment equal to then-current target Annual Bonus . |
| Definitions (Cause / Good Reason) | Cause includes IP breach, uncured agreement breach, felony/misdemeanor involving dishonesty, or fraud/embezzlement; Good Reason includes material diminishment in role, material pay reduction, relocation >50 miles, or company breach, with notice/cure timing conditions . |
| Restrictive Covenants | 1-year post-termination non-solicitation of employees; perpetual non-disparagement; confidentiality/IP assignment obligations . |
Performance & Track Record
- CFO tenure since June 2023; prior CFO roles at Motus GI and Avertix; broad operational and financial leadership across medtech companies .
- Avertix: Chapter 11 filing Dec 31, 2018; plan confirmed Feb 11, 2019; effective Mar 29, 2019; Taylor served in leadership roles prior to and board role thereafter, indicating exposure to restructuring dynamics .
- OBIO bonus frameworks emphasize clinical program execution (BACKBEAT pivotal study for AVIM), Virtue SAB milestones, pipeline/partnering, and public-company execution (shelf/ATM, analyst coverage, budget discipline) .
Compensation Structure Analysis
- Year-over-year mix: 2023 equity awards were larger due to initial hire grant; 2024 equity awards significantly lower, shifting cash/equity mix toward normalized levels post-hire .
- Target bonus remains at-risk at 50% of base, adjusted for corporate achievement and individual performance; 2024 company achievement 65%, Taylor awarded ~79% of target after individual modifier .
- Equity awards via RSUs with multi-year vesting (through 2028), promoting retention; no option awards disclosed for Taylor, lowering risk vs options and creating more certain value accrual .
- Equity pool and peer benchmarking show CFO allocation above peer median (8.3% vs 5.0%), indicating strong retention and incentive emphasis for the finance function .
Equity Ownership & Vesting Schedule Details
| Grant | Type | Unvested (12/31/2024) | Vesting Schedule |
|---|---|---|---|
| 7/20/2023 | RSUs (Initial Equity Award) | 183,720 | 34% vests at 18 months; 33% at 24 months; 33% at 36 months from 6/6/2023 Vesting Commencement Date . |
| 5/8/2024 | RSUs | 100,000 | 15,000 on 5/20/2025; remaining 85,000 in equal installments on 8/20/2025; 11/20/2025; 12/20/2025; 5/20/2026; 8/20/2026; 11/20/2026; 3/25/2027; 5/20/2027; 8/20/2027; 11/20/2027; 3/25/2028; 5/20/2028 . |
Related Party Transactions & Peer Group
- Compensation peer group (18 companies across medtech/biotech) used to calibrate 2024 equity pool and allocations .
- Collaboration with Medtronic on AVIM therapy; Medtronic is a >5% holder; OBIO reimbursed Medtronic $4.3M (2024) and $5.7M (2023) for development costs; revenue-sharing expected per device sold post-approval; Medtronic commercialization rights in primary field .
Governance, Say-on-Pay, and Policies
- OBIO is an emerging growth and smaller reporting company, with reduced compensation disclosure obligations and exempt from say-on-pay votes .
- Anti-hedging and insider trading policy applies to officers/directors with trading windows and pre-clearance; short sales prohibited .
Risk Indicators & Red Flags
- Prior bankruptcy involvement: Avertix Medical Chapter 11 (filed Dec 2018; effective Mar 2019) indicates restructuring experience; not necessarily a red flag but relevant context .
- No specific disclosure of pledging by Taylor; anti-hedging policy mitigates misalignment risk .
- CiC provisions include target bonus payment and accelerated vesting (to Severance Period or full in certain CiC contexts), which can create retention but also potential change-in-control economics to monitor .
Summary Compensation (Multi-Year)
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | $227,000 | $395,000 |
| Stock Awards ($) | $2,065,453 | $498,000 |
| Non-Equity Incentive Plan Compensation ($) | $99,367 | $155,334 |
| All Other Compensation ($) | $6,929 | $12,075 |
| Total ($) | $2,398,749 | $1,060,409 |
Employment Terms (Severance & CiC Economics)
| Trigger | Cash Severance | Benefits | Equity Treatment | CiC Bonus |
|---|---|---|---|---|
| Without Cause / Good Reason | Base salary for 9 months (<18 months) or 12 months (≥18 months) | COBRA reimbursement during Severance Period | Accelerated vesting of 2023 RSUs to extent they would vest during Severance Period | — |
| CiC Termination (within 3 months prior to CiC to 12 months after CiC) | Severance Period increases to 12 months if within first 18 months | COBRA reimbursement | As above; plus CiC mechanics per plan | One-time payment equal to then-current target Annual Bonus |
Investment Implications
- Alignment and retention: Significant unvested RSUs vesting into 2028, anti-hedging policy, and observed open-market purchases (Dec 2024 and Aug 2025) suggest positive alignment; monitor vesting dates for potential 10b5-1 plan sales and near-term liquidity events .
- Pay-for-performance structure: Cash bonuses reflect corporate program execution with individual modifiers; equity grants benchmarked and CFO allocation above peer median (8.3% vs 5.0%), underscoring the strategic importance of the finance role; equity-heavy mix post-hire supports long-term value creation but reduces optionality from options .
- Change-of-control economics: CiC one-time target bonus plus accelerated equity vesting (to Severance Period or full in certain contexts) introduce incentives under strategic transactions; not excessive vs market but relevant for deal scenarios .
- Execution risk context: Prior Chapter 11 exposure at Avertix indicates familiarity with restructurings; OBIO’s milestones-centric bonuses depend on AVIM (BACKBEAT) and Virtue SAB progress and regulatory outcomes, which are key levers for compensation and shareholder value .