George Ye
About George Ye
Independent director appointed to PMI’s board on August 12, 2025; chairs the Compensation and Nominating & Corporate Governance committees and serves on the Audit Committee, with the board determining committee members satisfy NYSE American independence requirements upon IPO close . Previously held senior leadership roles at Edwards Lifesciences including SVP & GM, Greater China (2019–2024) and VP & GM, Japan Surgical (2016–2019); earlier roles at Abbott Laboratories and Johnson & Johnson; B.S. in Chemical Engineering and MBA from Northwestern University . Initial and subsequent beneficial ownership filings indicate no PMI common stock owned as of August 28, 2025 and September 26, 2025 .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Edwards Lifesciences | SVP & GM, Greater China Region | Apr 2019 – Oct 2024 | Senior regional leadership in medtech |
| Edwards Lifesciences | VP & GM, Japan Surgical | Oct 2016 – Apr 2019 | Business leadership in Japan |
| Edwards Lifesciences | Senior Director, Japan & Asia Pacific Strategy | Apr 205 – Sep 2016 | Strategic leadership; tenure as disclosed in filing |
| Abbott Laboratories | Various roles | Not disclosed | Prior operating experience |
| Johnson & Johnson | Various roles | Not disclosed | Prior operating experience |
External Roles
- PMI’s registration statements provide career history and committee roles for Ye but do not list other current public company directorships for him in the sections reviewed .
Board Governance
- Committee assignments: Audit Committee member (chair: Sam Van); Compensation Committee member and chair; Nominating & Corporate Governance Committee member and chair .
- Independence: Board determined audit and nominating/governance committee members meet NYSE American independence standards, using IPO phase-in provisions; compensation committee operates under a written charter post-IPO .
- Appointment and protections: Appointed August 12, 2025; PMI entered standard indemnification agreements with directors and executive officers in connection with the IPO .
- Controlled company status: Following IPO, Hunniwell controls a majority of voting power; PMI intends to rely on “controlled company” exemptions from certain NYSE governance requirements while recruiting independent directors .
Fixed Compensation
- Director cash/equity retainer amounts are not specified in reviewed filings. Compensation committee (chaired by Ye) is responsible for reviewing and recommending compensation of executive officers and directors and administering equity plans .
Performance Compensation
- Equity awards under PMI’s 2021 Equity Incentive Plan (as amended): non‑executive directors as a group have 742,021 options outstanding; aggregate fair value for the group was $6,455,583 based on a $8.70 share price as of Sep 26, 2025 .
| Group Equity Awards (as of Sep 26, 2025) | Number | Dollar Value ($) | Source |
|---|---|---|---|
| Non‑executive directors (4 individuals) – Options outstanding | 742,021 | 6,455,583 |
- Plan-eligible performance metrics for awards include EPS, EBITDA, TSR, ROE/ROA, stock price, revenue growth, margins, operating income/cash flow, market share, regulatory milestones, governance/compliance, and ESG impact; awards may be RSUs, options, warrants, SARs, or other stock/cash-based incentives .
| Plan Performance Metrics (examples) | Description | Source |
|---|---|---|
| Financial outcomes | EPS, EBITDA, revenue/sales targets, margins, operating income/cash flow | |
| Capital/returns | TSR, ROE, ROA, debt reduction, capital expenditures | |
| Market/operations | Stock price, market share, customer satisfaction, supply chain achievements | |
| Governance/ESG | Corporate governance and compliance, environmental/climate impact, social good |
- Change‑of‑control terms: plan allows assumption/substitution of awards, vesting acceleration, lapse of repurchase rights, cancellations for consideration, and payments equal to in‑the‑money value; awards subject to clawback per listing standards; 280G cutback (no excise tax gross‑up) framework applies .
Other Directorships & Interlocks
- No overlapping directorships with PMI’s controlling stockholder (Hunniwell) are attributed to Ye in reviewed sections; PMI is a controlled company post‑IPO, with Hunniwell’s managers including Richard Fang (PMI director) influencing governance outcomes .
Expertise & Qualifications
- Education: B.S. in Chemical Engineering and MBA, Northwestern University .
- Industry expertise: Medtech and life sciences leadership across Asia/Japan/Greater China; qualified for PMI’s board based on healthcare and medical technology experience .
Equity Ownership
| Date | Filing | Shares Beneficially Owned | Percentage of Outstanding | Notes |
|---|---|---|---|---|
| Aug 28, 2025 | Form 3 (Initial Statement) | 0 | — | “No securities are beneficially owned.” |
| Sep 26, 2025 | DEF 14A (Security Ownership Table) | 0 | 0.00% | 73,701,176 shares outstanding context |
Governance Assessment
- Strengths: Independent non‑executive director with deep medtech operating experience; chair roles on Compensation and Nominating & Corporate Governance suggest active influence on pay and board composition; audit committee membership includes oversight of related‑party transactions and internal controls .
- Alignment: As of Form 3 and DEF 14A, Ye held no PMI common shares; director group has options outstanding, but individual grants/vesting not itemized, limiting visibility into his direct equity alignment to date .
- RED FLAGS: PMI’s “controlled company” reliance reduces governance safeguards (e.g., majority independent board not required), concentrating influence with Hunniwell and potentially constraining committee independence despite formal compliance—heightened monitoring of compensation and nominations is warranted .
- Protections & Policies: Indemnification agreements in place for directors; equity awards are subject to clawback per listing standards; change‑of‑control treatment includes potential vesting acceleration and award cancellation for consideration; plan includes 280G cutback (no tax gross‑up) .