Jon Skinner
About Jon Skinner
Jon Skinner, age 39, is Chief Financial Officer and Principal Financial Officer of Pulse Biosciences (PLSE) since February 3, 2025, responsible for the company’s financial strategy, controls, and SEC reporting certifications . He holds a B.S. and MBA from The Ohio State University, and previously led FP&A/IR at Copeland; finance and corporate development at Imperative Care (including interim CFO of Kandu Health); and multiple corporate development and finance roles at Teleflex; earlier roles included Axalta Coating Systems and Duff & Phelps (Kroll) . Company pay-versus-performance disclosures provide historical TSR context (pre-tenure): value of a fixed $100 investment was $72.97 in 2024, $51.30 in 2023, and $11.61 in 2022, alongside net losses of $53.6M (2024), $42.2M (2023), and $58.5M (2022) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Copeland | VP, FP&A and Investor Relations | Jan 2024–Jan 2025 | Led FP&A and investor communications at PE-backed industrial company . |
| Imperative Care | VP, Finance & Corporate Development | Dec 2021–Jan 2024 | Drove M&A, strategy, partnerships; financial support across development-stage units . |
| Kandu Health (Imperative Care spin-out) | Interim CFO | Not disclosed | Supported spin-out and fundraising process . |
| Teleflex (NYSE: TFX) | VP Finance – Interventional Urology | Jun 2021–Dec 2021 | Led accounting, FP&A, customer service, sales ops for BU . |
| Teleflex | Senior Director, Corporate Development | Apr 2020–May 2021 | Closed ~25 M&A transactions; corporate development leadership . |
| Teleflex | Director, Corporate Development | Jan 2018–Mar 2020 | Corporate development execution . |
| Axalta Coating Systems (NYSE: AXTA) | Finance (carve-out/IPO) | Not disclosed | Contributed to carve-out and IPO preparation . |
| Duff & Phelps (now Kroll) | Valuation Advisory | Not disclosed | Valuation advisory experience . |
External Roles
No public company directorships or committee roles disclosed for Jon Skinner. Company states no related party transactions or family relationships for his appointment .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $400,000 | As per employment agreement; subject to review . |
| Target Bonus % | 50% of base salary | Annual bonus eligibility tied to corporate goals; initial year not prorated . |
| Sign-on Bonus / Tax Gross-up | Up to $56,000 | Reimburses clawback repaid to prior employer and taxes; grossed-up up to cap; repayable if resigns without Good Reason or terminated for Cause within first 24 months . |
| Benefits | Standard executive benefits, PTO ≥3 weeks, travel reimbursement (>50 miles), legal fee reimbursement up to $10,000 | Per employment agreement . |
Performance Compensation
Equity Awards (Options)
| Grant Type | Grant Date | Shares | Exercise Price | Term | Vesting | Performance Metrics / Triggers |
|---|---|---|---|---|---|---|
| Start Date Option | Jan 31, 2025 | 300,000 | $20.93/sh | 10 years | 150,000 time-based: 12.5% (37,500) on first anniversary of Start Date (Feb 3, 2026), then 12.5% annually over next 3 years; 150,000 performance-based per below | Granted under Inducement Plan; board-approved . |
Performance-Based Vesting Conditions (50% of Option Grant = 150,000 shares)
| Metric | Weighting | Target | Actual | Payout | Vesting Condition |
|---|---|---|---|---|---|
| Market Cap + GAAP Product Revenue | 25% of PB tranche (37,500 sh) | ≥$2.0B market cap for 270 consecutive days AND ≥$8M GAAP product revenue over 12 months | Not disclosed | Not disclosed | Vests upon achieving both thresholds . |
| Market Cap + GAAP Product Revenue | 25% of PB tranche (37,500 sh) | ≥$3.0B market cap for 270 consecutive days AND ≥$48M GAAP product revenue over 12 months | Not disclosed | Not disclosed | Vests upon achieving both thresholds . |
| Market Cap + GAAP Product Revenue | 25% of PB tranche (37,500 sh) | ≥$4.0B market cap for 270 consecutive days AND ≥$115M GAAP product revenue over 12 months | Not disclosed | Not disclosed | Vests upon achieving both thresholds . |
| Market Cap + GAAP Product Revenue | 25% of PB tranche (37,500 sh) | ≥$5.0B market cap for 270 consecutive days AND ≥$175M GAAP product revenue over 12 months | Not disclosed | Not disclosed | Vests upon achieving both thresholds . |
Notes:
- All vesting requires continuous service through vesting/achievement determination dates .
- Time-based vesting schedule: first 37,500 shares on Feb 3, 2026 (first anniversary), then annually for 3 years .
Equity Ownership & Alignment
| As-of Date | Shares Owned | Rights to Acquire (≤60 days) | Total Beneficial Ownership | Shares Outstanding | Percent of Class |
|---|---|---|---|---|---|
| Aug 25, 2025 | — | — | — | 67,295,847 | — . |
| Oct 22, 2025 | 778 | — | 778 | 67,757,578 | <0.01% (≈0.001%) . |
- No pledging or hedging by Skinner is disclosed; company references an insider trading policy but does not state executive-specific anti-pledging provisions in the proxy excerpts retrieved .
- Stock ownership guidelines for executives and compliance status are not disclosed in available documents.
- Options outstanding for Skinner are not yet reported in fiscal year-end tables (joined in 2025; 2024 year-end tables exclude him) .
Employment Terms
- At-will employment; Start Date: February 3, 2025; Agreement executed January 31, 2025 .
- Severance (subject to release and covenants):
- Involuntary termination (no Change of Control): salary continuation for 3 months; accelerated vesting of unvested equity that would normally vest over the next 12 months .
- Involuntary termination within 12 months after Change of Control (double trigger): salary continuation for 12 months; equity acceleration of 50% if tenure <1 year from Start Date, 100% if tenure ≥1 year .
- COBRA: reimbursement/taxable payments for premiums during severance period, subject to legal constraints .
- Non-compete/confidentiality/indemnification: Company’s standard inventions assignment, confidentiality, non-competition, and indemnification agreements; specific non-compete duration/scope not disclosed in filings reviewed .
- Section 280G cutback provision to avoid excise tax; structured reduction order across cash severance, other cash, equity acceleration, benefits .
- Section 409A compliance mechanics, specified employee six-month delay where applicable .
Investment Implications
- Pay-for-performance alignment: 50% of Skinner’s option grant vests only upon sustained, high market capitalization and GAAP product revenue milestones (270 consecutive days; revenue thresholds from $8M to $175M), aligning equity realization with durable value creation and commercialization progress .
- Retention: Time-based vesting over 4 years plus sign-on bonus clawback if departure within 24 months increases retention; severance outside CoC is modest (3 months), but more protective in CoC scenarios (12 months), with double-trigger acceleration scaling by tenure .
- Potential selling pressure: First time-based tranche (37,500 sh) vests on Feb 3, 2026; subsequent annual tranches may add supply depending on option moneyness and personal liquidity decisions; performance tranches could add significant incremental vested shares upon meeting revenue/market cap milestones .
- Alignment and ownership: Current direct share ownership is de minimis (<0.01%), with alignment primarily via option-based incentives rather than large common shareholdings; absence of disclosed pledging is positive, but no executive ownership guideline disclosure limits assessment depth .
- Contract economics: Double-trigger change-of-control acceleration and Section 280G cutback reduce golden parachute risk while still providing protection; severance and COBRA support are standard for CFO roles .
Key monitoring: (1) progress toward GAAP product revenue thresholds, (2) sustained market cap levels for 270-day windows, (3) vesting dates and any Form 4 activity, (4) company commercialization milestones (nsPFA platform) which drive eligibility for performance tranches **[1625101_0001437749-25-002664_ex_773341.htm:1]** **[1625101_0001437749-25-002664_plse20250131_8k.htm:2]**.