Neil Laird
OndasAbout Neil Laird
Neil Laird is Chief Financial Officer, Treasurer, and Secretary of Ondas Holdings Inc., appointed effective June 22, 2025 after serving as Interim CFO from June 21, 2024 . He is 72, holds an MA from the University of Cambridge, and is a UK chartered accountant; prior roles include CFO positions at Mobileum Inc., SumTotal Systems, and ADAC Laboratories, each publicly traded at the time . During the year he joined management, the company’s Pay vs. Performance table shows total shareholder return (TSR) value rising to $41.58 in 2024 from $16.40 in 2023, albeit with a net loss of $38.0M in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mobileum Inc. | Chief Financial Officer | 2011–2016 | Finance leadership at a telecom solutions provider |
| SumTotal Systems, Inc. | Chief Financial Officer | Prior to Mobileum | CFO of public enterprise learning systems provider |
| ADAC Laboratories | Chief Financial Officer | Prior to SumTotal | CFO of public nuclear medicine/PET systems provider |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NovAccess Global Inc. | Fractional CFO (public company) | 2021–2024 | Provided public-company finance leadership |
| AM Consulting | Employee/Consultant | 2021–present | Provided CFO services to ONDS via services agreement |
Fixed Compensation
| Component | FY/Effective Date | Amount/Terms | Notes |
|---|---|---|---|
| Base Salary | Effective 6/22/2025 | $300,000 per annum | Per Employment Agreement upon appointment as CFO |
| One-time Discretionary Bonus | 7/1/2025 payment | $50,000 | Granted in connection with CFO appointment |
| Consulting Fees (Interim CFO) | 6/21/2024–12/31/2024 | $253,333 (“All Other Compensation”) | Under AM Consulting Services Agreement at $40,000/mo |
| Stock Awards (grant-date fair value) | FY 2024 | $15,578 | Reflects warrant-related award in 2024 |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| RSUs (time-based) | Time-based vesting; no performance metrics disclosed | N/A | N/A | N/A | 100,000 RSUs vest in 8 equal quarterly installments from grant; Employment Agreement dated 6/23/2025 |
| Stock Options (time-based) | Time-based vesting; no performance metrics disclosed | N/A | N/A | N/A | Options for 100,000 shares vest in 8 equal quarterly installments from grant; Employment Agreement dated 6/23/2025 |
| Warrant (Interim period) | Time-based vesting; no performance metrics disclosed | N/A | N/A | N/A | Warrant for 45,455 shares at $0.66; vests in 4 equal quarterly installments starting 9/21/2024 |
No PSU/TSR/financial performance metrics or bonus target % were disclosed for Laird’s awards; RSUs and options are time-based .
Equity Ownership & Alignment
| As of Date | Total Beneficial Ownership | % of Shares Outstanding | Breakdown |
|---|---|---|---|
| 10/8/2025 | 75,874 shares | <1% | 5,419 common; 45,455 warrant shares; 12,500 options; 12,500 RSUs vested/pending delivery |
| Instrument | Quantity | Status | Strike/Price | Expiration | Vesting/Notes |
|---|---|---|---|---|---|
| Common Shares | 5,419 | Owned | N/A | N/A | Direct beneficial ownership |
| Warrant | 45,455 | Outstanding | $0.66 | Not stated | Four equal quarterly tranches; first vest 9/21/2024 |
| Stock Options | 100,000 (grant); 12,500 noted as issuable | Partially vested | Not disclosed for Laird’s 2025 grant | Not stated | Eight equal quarterly installments from grant; 12,500 exercisable counted in beneficial ownership |
| RSUs | 100,000 (grant); 12,500 vested pending delivery | Partially vested | N/A | N/A | Eight equal quarterly installments from grant |
- No pledging/hedging or ownership guideline disclosures specific to Laird were found in the proxies reviewed .
Employment Terms
| Term | Provision |
|---|---|
| Employment Status | At-will; appointed CFO effective 6/22/2025 |
| Severance (no cause/constructive termination/disability) | Accrued obligations; COBRA premium reimbursement for 6 months |
| Change in Control (CIC) | Accrued obligations; continued base salary and benefits monthly for 6 months incl. COBRA reimbursement; immediate acceleration of all outstanding RSUs and options |
| Non-Compete/Non-Solicit | Standard provisions included in Employment Agreement (details not quantified) |
| Interim Services Agreement | AM Consulting provided CFO services at $40,000/mo and warrants (90,910 shares total, incl. 45,455 to Laird); notice of non-renewal given 3/21/2025 |
Compensation Structure Analysis
- Shift from consulting-based cash (Interim period) to employee fixed salary: 2024 “All Other Compensation” of $253,333 under the Services Agreement transitioned to $300,000 base salary plus $50,000 one-time bonus upon permanent appointment .
- Time-based equity (RSUs and options) emphasizes retention over performance linkage; no disclosed financial or TSR hurdles for Laird’s awards .
- Warrant compensation during interim period with quarterly vesting provides near-term vesting cadence that can create incremental liquidity events as tranches vest .
Pay vs Performance Context (Company-Level)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| TSR (Value of $100 Investment) | $17.04 | $16.40 | $41.58 |
| Net Loss | $(73,241,805) | $(44,844,872) | $(38,007,757) |
Laird’s tenure began mid-2024; 2024 TSR improvement is company-level and not solely attributable to his role .
Governance and Oversight Touchpoints
- Compensation Committee composed of independent directors Randall P. Seidl (Chair), Richard M. Cohen, and Jaspreet Sood; oversees executive compensation and administers equity plans .
- Equity plan capacity expanded in 2025 (subject to shareholder approval): 2021 Plan proposed increase from 26,000,000 to 61,000,000 shares, contingent on charter amendment to increase authorized common stock to 800,000,000 .
Risk Indicators & Red Flags
- CIC acceleration of all RSUs and options increases potential payout sensitivity to corporate events and may weaken post-transaction retention .
- Material reliance on equity incentives and large plan capacity expansions (2024 and 2025 amendments) elevate dilution risk, which can influence insider liquidity dynamics and shareholder alignment broadly .
- No disclosures found of pledging, hedging, tax gross-ups, or clawback enforcement specific to Laird in reviewed materials .
Investment Implications
- Alignment: Laird holds common, vested RSUs pending delivery, exercisable options, and a warrant—providing equity exposure—but awards are time-based, not performance-tied, moderating pay-for-performance rigor .
- Retention: Quarterly vesting across multiple instruments (RSUs/options/warrant) establishes continuous retention hooks; CIC terms include six months’ salary/benefits and full acceleration, signaling moderate severance economics but high event risk of accelerated vesting .
- Trading Signals: As tranches vest quarterly, monitor Form 4 filings for potential selling pressure; the 2024 warrant schedule indicates periodic vesting milestones beginning 9/21/2024, and 2025 RSU/option grants vest quarterly thereafter .
- Dilution/Plan Supply: Ongoing expansions to authorized shares and equity plan capacity may facilitate continued equity-based compensation and potential issuance, which can be dilutive and affect insider liquidity windows over time .