Stephen From
About Stephen From
Stephen From, age 62, was appointed Chief Executive Officer and Director of Vicarious Surgical (RBOT) effective August 7, 2025, bringing 20+ years of healthcare leadership across operating, finance, and capital markets roles . His early priorities include sharpening execution, reducing burn while maintaining development timelines, and progressing toward design freeze; Q3 2025 operating expenses declined 35% year over year to $11.5M, and cash burn was $10.5M for the quarter, consistent with his stated focus on capital discipline . Mr. From signed RBOT’s Q3 2025 certifications as Principal Executive Officer and is the signatory and agent for S‑3 registration filings, evidencing his principal executive responsibility and board role .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Aruna Bio | Chief Executive Officer | 2022–2025 | Led strategic direction and clinical advancement of a neural exosome platform . |
| Kiora Pharmaceuticals (NASDAQ: KPRX) | President & CEO; Executive Chairman | 2005–2021; 2021–2022 | Took company public; executed acquisitions/licensing in ophthalmic therapeutics . |
| Centelion (Sanofi-Aventis subsidiary) | Chief Financial Officer | Prior to Kiora (dates not specified) | Senior finance leadership within a biotech subsidiary . |
| Bank of America Securities; Robertson Stephens | Investment Banking (Life Sciences) | Prior to CFO role (dates not specified) | Capital markets and advisory experience focused on life sciences . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed in RBOT filings | — | — | No other current public company directorships disclosed for Mr. From as of his RBOT appointment . |
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $500,000 | Annual base per Executive Employment Agreement (effective Aug 7, 2025) . |
| Target Bonus % | 50% of base | Based on company and/or individual objectives; Board discretion; 2025 prorated from start date . |
| Benefits/Perqs | Standard employee plans | Participates at same level as employees; no special perquisites disclosed . |
| Clawback | Subject to company clawback policy | Applies to executive compensation . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting/Terms |
|---|---|---|---|---|---|
| Annual Cash Bonus | Company and/or individual performance objectives | Not disclosed | 50% of base salary | Not disclosed (appointed Aug 2025) | Requires active employment on payment date; Board discretion . |
| Stock Options (Inducement) | Time-based service vesting | N/A | Option to purchase up to 297,600 shares | Grant approved as material inducement under NYSE Rule 303A.08 | 25% vests at 1-year anniversary; remaining 75% vests in 36 equal monthly installments thereafter; 10-year term; exercise price = closing price on grant date; subject to accelerated vesting in certain circumstances . |
Equity Ownership & Alignment
- Inducement Option Grant: Non-qualified option for up to 297,600 shares; 25% vesting after 12 months then monthly vesting over 36 months; 10-year term; exercise price equals grant-date close; made outside the 2021 Plan as a material inducement under NYSE rules .
- Beneficial Ownership: No Form 4 holdings table was included in the cited filings; ownership amount beyond the disclosed inducement option was not reported in the materials reviewed .
- Hedging/Pledging: Insider trading policy prohibits short sales and hedging transactions (e.g., straddles, collars); pre-clearance and blackout procedures apply to executives and directors . Plan documents restrict transferability/hedging of awards; no specific disclosure of share pledging by Mr. From .
- Director Pay: As an employee-director, he does not receive board retainers or director equity under the non-employee policy .
Employment Terms
| Term | Detail |
|---|---|
| Start Date | Effective August 7, 2025 . |
| Position | Chief Executive Officer; reports to Board; appointed to the Board effective date . |
| Term/At-will | Continues until terminated in accordance with the Agreement (at-will framework) . |
| Severance (No Cause/Good Reason) | 12 months of base salary continuation, subject to execution of separation agreement; timing aligned to 409A compliance . |
| Non-Compete/Non-Solicit | Subject to separate Non-Competition and Non-Solicitation Agreement and Invention and Non-Disclosure Agreement as a condition of employment . |
| Change-in-Control | Individual CoC cash multiples not specified; option grant subject to “accelerated vesting in certain circumstances” per inducement award disclosure . |
| Clawback/Forfeiture | Compensation subject to any company clawback policy and applicable law . |
| Indemnification/D&O | Eligible for D&O insurance coverage consistent with similarly situated executives . |
Board Governance
- Role and Independence: Mr. From serves as CEO and Director; as a member of management, he is not an independent director under NYSE rules . The Board’s independent director framework and committee composition are disclosed in the 2025 proxy (Audit: Carr‑Brendel, Fulop, Huss; Compensation: Ho (Chair), Huss, Carr‑Brendel; Nominating: Ho, Fulop) and subsequent updates; after Mr. Tang’s resignation on Sept 12, 2025, Carr‑Brendel was appointed to the Audit Committee .
- Chair/Lead Structure: By November 12, 2025, Joseph Doherty is listed as Chairman in RBOT’s S‑3 signature block, indicating the chair role is held by a non-executive director, mitigating CEO-chair concentration .
- Dual-Role Implications: CEO+Director concentration can reduce independence at the board table; however, RBOT maintains standing independent committees and separates the chair function (Chairman Joseph Doherty), which addresses common governance concerns about CEO/Chair duality .
Compensation Structure Analysis
- Cash vs. Equity Mix: CEO pay structure emphasizes at‑risk equity via a four‑year vesting inducement option, aligning incentives with long-term value creation and retention; cash includes $500k base and a 50% target bonus contingent on objectives .
- Retention Design: One‑year cliff on 25% of options, then monthly vesting, reduces near‑term voluntary turnover risk and delays potential selling pressure until the first annual vesting date .
- Governance Safeguards: Compensation is subject to clawback; no tax gross‑ups disclosed; severance limited to 12 months base salary with release requirement; equity inducement granted outside the Plan but on terms broadly consistent with Plan governance and NYSE inducement rules .
- Metrics Transparency: Annual bonus references company/individual objectives but specific KPI weightings or hurdle levels are not disclosed in filings reviewed .
Performance & Track Record Signals (RBOT context during tenure start)
- Operating discipline: Q3 2025 operating expenses fell 35% YoY to $11.5M; R&D $8.0M (−26% YoY); G&A $3.2M (−45% YoY); sales/marketing $0.4M (−71% YoY), aligning with the CEO’s focus on burn reduction while maintaining timelines .
- Capital runway actions: Company raised $5.9M gross proceeds via a registered direct offering in October 2025; cash and investments were $13.4M as of Sept 30, 2025; FY2025 cash burn guidance ~ $50M .
- Leadership execution: From emphasized progress toward design freeze and disciplined execution shortly after taking the helm (Nov 12, 2025 press release commentary) .
Director Compensation (for completeness; not applicable to CEO-Director)
- RBOT compensates non‑employee directors via cash retainers and RSUs under its policy; employees serving as directors do not receive board fees or director equity . Mr. From, as CEO, falls under the employee exception .
Related Party Transactions and Other Governance
- No related party transactions involving Mr. From were disclosed in the 8‑K appointment or in the filings reviewed; the company maintains a related person transaction policy overseen by the Audit Committee .
- Insider Trading Controls: Quarterly blackouts, pre‑clearance for executives/directors, and prohibitions on short-term and hedging transactions apply .
Investment Implications
- Alignment: The inducement option with a one‑year cliff and monthly vesting aligns the CEO’s upside with longer‑term shareholder value, with governance protections (no discounting, no repricing without shareholder approval at the Plan level; inducement award terms generally consistent with Plan) .
- Retention Risk: 12‑month severance (base only) is modest, but the equity vesting structure and one‑year cliff support retention in the first year; lack of disclosed CoC cash multiples limits windfall risk but could reduce stickiness in a strategic transaction absent explicit acceleration language beyond “certain circumstances” .
- Near‑Term Selling Pressure: No near‑term unlocks from the inducement award until the one‑year cliff in August 2026, tempering insider supply concerns in the next 9–12 months .
- Execution/Capital Needs: Management’s burn‑reduction plan and recent financing address near‑term liquidity, but the business remains pre‑commercial with FY2025 burn guide of ~$50M, implying continued external capital dependence and execution risk on development milestones under new leadership .
Sources: Appointment/compensation terms ; Q3 2025 and capital commentary ; S‑3 signatures and Chair identification ; Board committees/independence and policies ; Audit/Nominating/Compensation committee membership shift re Tang resignation ; Director pay policy ; Plan governance features .