Ilya Goldshleger
About Ilya Goldshleger
Ilya Goldshleger, Ph.D., is Co‑President and Chief Operating Officer at RxSight (age 50). He joined RxSight in September 2015 as VP Engineering and has served as COO since June 2019, with promotion to Co‑President on July 15, 2024 . He holds an M.S. in Physics & Mathematics (Moscow Institute of Physics and Technology) and a Ph.D. in Chemical Physics (Russian Academy of Sciences) . Company performance in 2024 included revenue of $139.9M and gross profit of $98.9M (up 57% and 84% YoY, respectively), with loss from operations improving to $(36.9)M from $(50.1)M; key operating achievements included 98,055 LALs and 305 LDDs sold in 2024 . Cumulative TSR values per SEC “pay vs performance” disclosure show $305.60 (2024), $358.40 (2023), and $112.62 (2022) from a $100 initial investment benchmark .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| RxSight, Inc. | VP Engineering → COO | 2015–2019 (VP Eng), 2019–present (COO) | Led development/engineering of LAL and LDD system and accessories; operational leadership scaling premium IOL platform . |
| Alcon LenSx, Inc. | Director, R&D Optics & Diagnostics (various management roles) | 2010–2015 | Advanced refractive and diagnostics R&D; post-acquisition integration after LenSx sale to Alcon . |
| LenSx Lasers, Inc. | R&D roles | 2008–2010 | Early-stage refractive laser platform development prior to Alcon acquisition . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | None disclosed . |
Fixed Compensation
Multi-year compensation summary (USD):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $416,667 | $454,167 | $503,750 |
| Option Awards (Grant-Date Fair Value) | — | $1,124,196 | $4,919,347 |
| Annual Bonus (Non-Equity Incentive) | $219,313 | $295,208 | $366,730 |
| All Other Compensation | $21,833 | $12,083 | $29,400 (includes $22,500 inventor bonus) |
| Total Compensation | $657,813 | $1,885,654 | $5,819,227 |
Base salary changes and target bonus policy:
- Base salary increased to $485,000 effective Mar 1, 2024, and to $535,000 effective Jul 15, 2024 with promotion to Co‑President; target bonus remains 65% of salary .
- 2024 actual bonus paid: $366,730 (112% of target) .
Performance Compensation
Annual Bonus Plan (2024)
| Category | Weighting | Key Targets/Thresholds | Payout |
|---|---|---|---|
| Delighted Customers | 30% | New product launch (50% of category); submission readiness for key initiatives (25%); international approvals/submissions (25%) | Part of overall 112% |
| Motivated Employees | 30% | Employee satisfaction metrics | Part of overall 112% |
| Shareholder Satisfaction | 40% | Financial metrics: Revenue min $125M / target $135M / max ≥$150M; Gross margin min 64% / target 67% / max ≥68%; Cash expenditures min $25M / target $18M / max < $18M; plus LAL/LAL+ sales and manufacturing initiatives | Part of overall 112% |
Overall 2024 bonus payout for NEOs was 112% of target with no discretionary adjustments .
Equity Awards (2024 grants to Ilya Goldshleger)
| Grant Date | Type | Shares | Exercise Price ($) | Vesting | Expiration |
|---|---|---|---|---|---|
| Mar 4, 2024 | Stock Options | 92,200 | 56.07 | Time-based, monthly vest 1/48 over 4 years | Mar 3, 2034 |
| Aug 7, 2024 | Promotion Stock Options | 50,000 | 46.24 | Time-based, monthly vest 1/48 over 4 years | Aug 6, 2034 |
Award sizing context and methodology:
- Company targets competitive 50th–75th percentiles; options solely used for executives; fixed $35 share reference used to mitigate share count reduction from a ~93% stock price increase between Dec 2023 and Feb 2024 .
- CEO reallocated equity to Co‑Presidents to moderate pay gaps and support retention .
Option exercises (liquidity indicator):
- 2024: 166,695 shares exercised; value realized $5,970,243 .
Equity Ownership & Alignment
Beneficial ownership (as of April 8, 2025):
| Component | Amount | Note |
|---|---|---|
| Common shares directly owned | 42,246 | Personal holdings |
| Spouse shares | 1,372 | Included in beneficial ownership |
| Options exercisable within 60 days | 391,805 | Short-term exercisable options |
| Total beneficial ownership | 435,423 | Aggregate per DEF 14A |
| Ownership as % of shares outstanding | 1.07% | DEF 14A table |
- Anti‑hedging/pledging policy: Directors and employees (including executives) are prohibited from hedging or pledging RxSight securities; no margin accounts allowed .
- Outstanding equity awards detail (as of Dec 31, 2024) shows multiple tranches with exercise prices between $4.13 and $56.07, with specific exercisable/unexercisable counts (e.g., 17,287 exercisable/74,913 unexercisable at $56.07; 4,166/45,834 at $46.24; full schedule in proxy) .
Employment Terms
Confirmatory Employment Letter
- At‑will employment; base salary and target bonus determined per policy (2024 baseline $485,000 salary and 65% bonus target prior to mid‑year promotion) .
Severance & Change‑of‑Control (CoC) Economics
| Scenario | Cash Severance | COBRA | Equity Acceleration | Notes |
|---|---|---|---|---|
| Termination without cause or resignation for good reason (outside CoC period) | Lump sum = 12 months base + 12 months target bonus | Up to 12 months | None specified | Release required |
| Termination without cause or resignation for good reason (within CoC period) | Lump sum = 12 months base + 12 months target bonus | Up to 12 months | 100% of unvested equity (performance awards at target) | Double trigger within defined CoC period |
| Single trigger: remains employed through CoC | — | — | 100% of unvested equity accelerates | Equity-only acceleration |
Additional policies:
- Clawback: Compensation Recovery Policy adopted Nov 2023 for restatements (non‑discretionary recovery for covered executives) .
- Tax gross‑ups: None; applies “best‑net” cutback to minimize 280G excise tax impact .
Compensation Committee Analysis
- Committee members: Robert J. Palmisano (Chair), J. Andy Corley, Robert Warner (all independent) .
- Independent consultant: Aon; advises on market data, peer group, and design; no conflicts identified .
- Peer group (17 medtech companies including STAAR Surgical, Glaukos, SI‑BONE, Axonics, etc.) selected on market cap, revenue, headcount, and industry fit .
- Pay positioning: Base and target cash ~65th percentile; long‑term incentives referenced to 50th–75th percentile; emphasis on options for alignment .
- Say‑on‑pay support: 95.3% approval at Jun 6, 2024 annual meeting .
Investment Implications
- Pay-for-performance alignment: Heavy use of time‑vested options creates leverage to stock price appreciation; 2024 option grants (92.2K + 50K shares) vest monthly and run to 2034, implying steady potential supply from option exercises over time . Bonus framework includes explicit revenue/margin/cash thresholds and customer/employee metrics; 2024 payout at 112% suggests targets were set and met above target .
- Retention and selling pressure: Significant 2024 exercises (166,695 shares) indicate realized gains and potential liquidity needs; continued monthly vesting plus anti‑pledging policy reduces credit‑related forced selling risk but option exercises could add periodic supply .
- Change-of-control incentives: Single‑trigger full equity acceleration at CoC plus double‑trigger cash severance may increase management’s openness to strategic transactions while ensuring downside protection; no excise tax gross‑ups mitigates shareholder-unfriendly optics .
- Ownership alignment: 1.07% beneficial ownership with substantial short-term exercisable options and strict hedging/pledging prohibitions supports alignment; absence of executive stock ownership guidelines (proxy discloses director guidelines only) is a gap versus best practice .
Supporting Operating Context
- 2024 execution milestones (98,055 LALs; 305 LDDs) underpin value creation in premium IOLs; financials reflect strong revenue and gross profit growth with narrowing operating losses . 2025 commercialization moderated (see Q3 2025 MD&A) which may impact near-term bonus outcomes and option intrinsic values .