Tom Perovic
About Tom Perovic
Tom Perovic (age 72) has served as an independent director of Oculus VisionTech (OVTZ) since 2011. He brings 30+ years of high-technology leadership across automotive AD/ADAS perception systems, embedded software/hardware, imaging/video processing, and machine vision, with senior roles at ASPRO Technologies (co-founder, President & CTO), Magna International/Magna Electronics (General Manager; Global Director of Engineering), and LeddarTech (Sr. Director, Toronto Automotive Center of Excellence) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ASPRO Technologies | Co-founder, President & CTO | 1992–2002 | Led digital security/surveillance technology; product development and commercialization |
| Magna International / Magna Electronics (Magna Vectrics) | General Manager; Global Director of Engineering | 2002–2018 | Responsible for restructuring post-takeover, P&L, development strategy, operational team building and leadership |
| Multiple tech firms (M&A involvement) | Senior technology leader | Various | Instrumental in several technology companies M&A processes |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| LeddarTech Inc. | Sr. Director, Toronto Automotive Center of Excellence (TACoE) | 2018–present | Established TACoE, built AI-based AD/ADAS/Perception division, scientific/engineering/vehicle integration teams, OPEX and CAPEX |
| 4C Inc. (controlled by Perovic) | Shareholding vehicle | Current | Holds 1,800,000 OVTZ common shares |
Board Governance
- Independence: Board determined Perovic is an independent director under NYSE American standards .
- Committee memberships: Not currently serving on the Audit Committee; audit members are CFO Anton J. Drescher, Maurice Loverso, and Chair Ron Wages . Note: Audit Committee includes a non-independent management member (CFO) and a member not financially literate (Loverso), while Drescher is designated as an SEC “audit committee financial expert” .
- Board structure: Only standing committee is Audit; no Compensation, Nominating, or Governance Committees presently. Independent directors collectively determine compensation for directors and senior management .
- Attendance: Board conducts business via Director and Audit Committee resolutions; Audit Committee met informally by phone in FY2024. No formal attendance rates disclosed; two directors anticipated to attend 2025 annual meeting in person .
- Lead Independent Director/executive sessions: Independent directors do not hold separate meetings without management .
Fixed Compensation
- Company states it does not provide compensation to directors in their capacity as such; none received any form of compensation in the most recent fiscal year .
| Director Compensation (FY2024) | Amount (USD) |
|---|---|
| Annual cash retainer | Nil |
| Committee membership fees | Nil |
| Committee chair fees | Nil |
| Meeting fees | Nil |
Performance Compensation
- No director stock awards or options granted; no non-equity incentive pay; no deferred comp; no perquisites disclosed .
- Omnibus Equity Incentive Plan exists with authorized capacity but no grants outstanding to directors as of FY2024/FY2025 .
| Performance/Equity Compensation (FY2024) | Detail |
|---|---|
| Stock awards (RSUs/PSUs) | $0 |
| Option awards | $0 |
| Performance metrics tied to director pay | None disclosed |
| Vesting schedules | None (no awards) |
| Clawbacks / COI provisions | Not disclosed for directors |
| Omnibus Plan availability | Authorized: 9,142,257 Options; 9,142,247 Share Units; no outstanding awards; WAE price $0.85 (plan metric) |
Other Directorships & Interlocks
| Company | Role | Public Company? | Interlocks/Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships disclosed for Perovic |
Expertise & Qualifications
- Deep technical expertise in ADAS/AD perception, AI/machine/deep learning, sensor fusion (camera, LiDAR, radar, ultrasonic), embedded systems, real-time OS, imaging/video processing, and professional video/surveillance .
- Operational leadership across P&L management, restructuring, strategy, team building, OPEX/CAPEX planning, and M&A contributions .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 1,895,000 (95,000 directly; 1,800,000 via 4C Inc.) |
| Ownership % of common shares outstanding | 2.07% (based on 91,422,569 shares outstanding) |
| Vested vs unvested shares | Not applicable; no director equity awards disclosed |
| Options/warrants (exercisable vs unexercisable) | None for directors; company-level warrants exist but contingent on performance/listing/CoC; not director-specific |
| Shares pledged as collateral | Company has no knowledge of pledges that may result in change of control; no pledging disclosed for Perovic |
Governance Assessment
- Alignment: Perovic is an independent director with meaningful share ownership (2.07%), aligning interests with shareholders through direct and controlled holdings .
- Committee effectiveness: Perovic is not on Audit; the committee includes a non-independent CFO and a member not financially literate—weak governance structure for financial oversight despite CFO’s “financial expert” designation. This composition poses independence and competency risks for audit effectiveness (RED FLAG) .
- Compensation governance: No formal Compensation Committee; independent directors set pay, but currently directors receive no compensation—limits pay-for-performance levers and formal oversight (could constrain recruitment/engagement at scale) .
- Board practices: Independent directors do not hold executive sessions; board conducts business via resolutions and informal audit teleconferences, with limited disclosure on meeting cadence/attendance—reduced transparency into board engagement (RED FLAG) .
- Conflicts/related-party risk: Perovic controls 4C Inc., which holds shares; related-party payables exist at the company level but no transactions tied to Perovic are disclosed (monitor but no identified conflict) .
- Legal/indebtedness: No legal proceedings involving directors/officers; no indebtedness of directors/officers reported—positive signals .