Mark Ravich
ROCKWELL MEDICALAbout Mark H. Ravich
Independent director of Rockwell Medical (RMTI) since June 2017; age 72. Career spans finance, commercial real estate, and operating roles, with prior CEO experience and multiple board seats. He holds a B.S. and MBA in finance from The Wharton School (University of Pennsylvania). The Board has affirmatively determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Universal International, Inc. | Chief Executive Officer and Director; led IPO | 1990–1998 | Strategic leadership through public listing |
| Tri-Star Management, Inc. | Co-founder; President (commercial real estate mgmt/syndication) | 1998–present | Operating and investment leadership |
| Commercial Real Estate Development | Developer | 1978–1990 | Full lifecycle development (finance, construction, leasing) |
| Citibank N.A. | Account Officer (real estate construction lending) | Began 1975 | Underwriting for national developers |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Dilon Technologies, Inc. | Director | Oct 2010–Dec 2022 | Medical imaging solutions |
| BioVentrix Inc. | Director | Feb 2019–Mar 2023 | Heart failure devices |
| Orchard Paper Products Company | Director; Chair of Governance; Audit Committee member | Feb 2013–2018 | Tissue products supplier |
| MR Instruments, Inc. | Director | Jun 2004–2018 | MRI RF coils manufacturer |
| Scidera Inc. | Board Advisor | Current | Clinical lab testing services |
Board Governance
- Committee assignments: Audit Committee member; Nominating & Governance Committee member; not a committee chair .
- Independence: Determined independent by the Board (Nasdaq/SEC standards) .
- Attendance and engagement: Board met 10 times in 2024; Audit 7; Compensation 7; Nominating & Governance 1. All directors attended at least 75% of Board and committee meetings in 2024 .
- Board leadership: Chairman is independent (Robert S. Radie); CEO is not Chair—structure intended to strengthen oversight .
Fixed Compensation
| Component | 2024 Amount (USD) | Details |
|---|---|---|
| Annual Board Cash Retainer | $45,000 | Standard non-employee director retainer |
| Committee Member Retainers | $15,000 | Audit member $10,000; Nominating & Governance member $5,000 |
| Total Cash Fees | $60,000 | As reported for Ravich in 2024 |
Program parameters (for reference across directors): Chairman +$40,000; committee chairs add Audit $20,000, Compensation $15,000, Governance $10,000; committee members add Audit $10,000, Compensation $7,500, Governance $5,000 .
Performance Compensation
| Equity Award | Grant Date | Units/Value | Vesting | Notes |
|---|---|---|---|---|
| RSUs (annual director grant) | May 21, 2024 | 36,111 units; $65,000 grant-date value | Vest in full one year from grant | Applied to all non-employee directors due to share pool constraints and low stock price |
| Options held (year-end) | As of Dec 31, 2024 | 15,249 options | As granted historically | Director-level options count disclosed; per plan, repricing prohibited without shareholder approval |
Equity program context: company prohibits repricing/exchange of underwater options without shareholder approval; anti-hedging and anti-pledging policy applies to directors .
Other Directorships & Interlocks
| Company | Public/Private | Potential Interlock/Exposure |
|---|---|---|
| Dilon Technologies, Inc. | Private (medical imaging) | None disclosed with RMTI customers/suppliers |
| BioVentrix Inc. | Private (medical devices) | None disclosed |
| Orchard Paper Products Company | Private (tissue products) | None disclosed |
| MR Instruments, Inc. | Private (MRI coils) | None disclosed |
| Scidera Inc. | Private (lab testing) | None disclosed |
No related-party transactions requiring disclosure since Jan 1, 2023; Audit Committee reviews any such transactions per policy .
Expertise & Qualifications
- Finance and capital markets (Wharton B.S./MBA; CEO and IPO leadership) .
- Operating experience across healthcare devices and industrials, plus commercial real estate .
- Prior governance roles (chair of governance; audit committee member) .
- Current board-level risk oversight via Audit and Nominating & Governance committees .
Equity Ownership
| Metric | Amount |
|---|---|
| Total beneficial ownership (shares) | 113,040; includes 2,272 shares held as trustee |
| Ownership % of outstanding | Less than 1% |
| RSUs outstanding (12/31/2024) | 36,111 (unvested at year-end; one-year vest from 5/21/2024) |
| Options exercisable within 60 days | 11,937 |
| Options total held (12/31/2024) | 15,249 |
| Hedging/Pledging | Prohibited under Board policy |
| Director stock ownership guideline | 3x annual cash retainer; compliance deadline is later of 5 years from joining or Feb 2028 (5 years from amendment) |
Governance Assessment
- Board effectiveness: Ravich adds seasoned operator and financier with prior governance leadership; his dual membership on Audit and Nominating & Governance supports oversight of financial reporting, conflicts management, and board composition .
- Alignment and engagement: Cash/equity mix ($60k cash; $65k RSUs) aligns with shareholder interests; director ownership guidelines (3x retainer) further promote alignment; anti-hedging/anti-pledging strengthen governance posture .
- Independence and conflicts: Board confirms independence; no related-party transactions meeting disclosure thresholds since 2023—low conflict risk signal .
- Attendance: At least 75% attendance across Board/committee meetings in 2024—a minimum acceptable engagement standard; Board met 10x; Audit 7x; N&G 1x .
RED FLAGS
- None disclosed specific to Ravich: no related-party transactions, no pledging/hedging, and no chair-level control positions that could skew oversight. Equity plan discussions note underwater options at a company level but repricing is prohibited without shareholder approval—mitigating governance risk .
Notes
- Chairman: Robert S. Radie; CEO-role separated—positive governance structure .
- Director time commitments: Company imposes limits on number of other public boards; monitored by Nominating & Governance Committee during nominations .