Douglas Prince
Senseonics HoldingsAbout Douglas S. Prince
Douglas S. Prince, age 71, is an independent director of Senseonics (SENS) who joined the board in 2015 and currently chairs the Audit Committee, bringing deep CFO experience from public and private companies, including Nordion (formerly MDS), Northern Power Systems, and Crane & Co. He is designated by the board as an “audit committee financial expert,” and holds a B.B.A. in Business Administration from the University of Kentucky .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Crane & Co., Inc. | Chief Financial Officer | 2013–2018 | Led finance for a global technology company; overlapped with SENS Chair Stephen DeFalco (then CEO) . |
| Northern Power Systems Corp. | Chief Financial Officer | 2010–2013 | Energy technology finance leadership . |
| Nordion Inc. (formerly MDS Inc.) | Chief Financial Officer | 2007–2010 | Public life sciences CFO; overlapped with SENS Chair Stephen DeFalco (then CEO of Nordion/MDS 2005–2010) . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Creation Technologies (private) | Director | Since 2019 | Electronics manufacturing services; SENS Chair Stephen DeFalco is Chairman & CEO (since 2019) . |
Board Governance
- Independence: The board determined Prince is independent under NYSE American rules .
- Attendance: Board met 4 times in 2024; each director attended at least 75% of board/committee meetings; all then-serving directors attended the 2024 annual meeting .
- Leadership: SENS separates Chair and CEO roles; independent Chair (DeFalco) presides over executive sessions of independent directors .
| Committee (2024) | Role | Meetings in 2024 |
|---|---|---|
| Audit Committee | Chair | 8 |
| Nominating & Corporate Governance | Member | 2 |
| Compensation | Not a Member | 4 (committee total) |
The Audit Committee reviews and approves related-person transactions, oversees internal controls, legal/regulatory compliance, and cybersecurity risk; Prince is designated the board’s audit committee financial expert .
Fixed Compensation (Director)
| Component | Policy Amount | Notes |
|---|---|---|
| Board Annual Retainer (cash) | $40,000 | Standard non-employee director retainer . |
| Audit Committee – Member | $10,000 | Annual member retainer . |
| Audit Committee – Chair add’l | $10,000 | Additional chair retainer . |
| Nominating & Governance – Member | $5,000 | Annual member retainer . |
| Annual Equity Grant | $112,500 | RSU or option; RSUs vest at next annual meeting; options vest over 1 year for annual grants per policy . |
| Mix Election | Cash may be taken in SENS shares | Non-employee directors may elect to receive all/portion of cash comp in stock . |
| Prince – 2024 Director Pay | Amount | Detail |
|---|---|---|
| Fees Earned/Paid in Cash | $65,000 | Sum consistent with Board ($40k) + Audit member ($10k) + Audit chair add’l ($10k) + NCG member ($5k) . |
| Stock Awards (Annual) | $112,500 | 236,344 RSUs granted per policy . |
| Equity in lieu of Cash | $32,500 | Prince elected to receive part of quarterly retainers as fully vested RSUs (75,069 shares aggregate) . |
| Total | $177,500 | 2024 director compensation total . |
Performance Compensation (Director)
| Equity Grant | Grant Value | Shares/Units | Vesting |
|---|---|---|---|
| 2024 Annual Non-Employee Director RSU | $112,500 | 236,344 RSUs | Vests in full on the earlier of May 22, 2025 or the 2025 annual meeting, subject to service . |
| Fee-Share Election (2024) | $32,500 | 75,069 fully vested RSUs | Shares issued in lieu of cash quarterly retainers (fully vested) . |
- No performance-conditional metrics for director equity; awards are time-based to align interests and retain directors .
Other Directorships & Interlocks
| Entity | Type | Interlock/Relationship | Governance Relevance |
|---|---|---|---|
| Creation Technologies | Private company | Prince (Director, since 2019) and SENS Chair Stephen DeFalco (Chairman & CEO, since 2019) serve together . | Board interlock between SENS independent Chair and Audit Chair; monitor for potential collegiality bias. |
| Crane & Co., Inc. | Private company (prior employment) | DeFalco (CEO 2011–2018) and Prince (CFO 2013–2018) overlapped . | Longstanding professional relationship; reinforces financial oversight experience but may raise independence optics. |
| Nordion/MDS | Public (historical) | DeFalco (CEO 2005–2010) and Prince (CFO 2007–2010) overlapped . | Similar note as above. |
Board also includes two PHC/Ascensia-affiliated non-independent directors (Brian Hansen, Koichiro Sato) pursuant to investor rights; Audit Committee (chaired by Prince) reviews related-person transactions including the Ascensia distribution arrangement .
Expertise & Qualifications
- Audit Committee Financial Expert (SEC definition) .
- Career CFO across life sciences and industrial technology (Nordion/MDS, Northern Power Systems, Crane & Co.) .
- Education: B.B.A., University of Kentucky .
- Extensive risk oversight via Audit Committee remit (financial reporting, legal/regulatory, cybersecurity) .
Equity Ownership
| Holder | Total Beneficial Ownership | % Outstanding | Breakdown (within 60 days of 4/1/2025) |
|---|---|---|---|
| Douglas S. Prince | 1,364,275 shares | <1% | 722,808 common; 405,123 options exercisable; 236,344 RSUs vesting within 60 days . |
- Company policy prohibits hedging, pledging, short sales, options, and margin accounts in SENS stock for directors, officers, and employees .
- No pledging disclosed for Prince in the proxy .
Governance Assessment
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Strengths
- Independent director with deep CFO pedigree and designated audit committee financial expert; chairs an active Audit Committee (8 meetings in 2024) overseeing financial reporting, cybersecurity, and related-party review .
- Solid engagement: board met 4 times in 2024; each director attended ≥75%, and all directors attended the 2024 annual meeting .
- Pay alignment: Prince elected to receive a portion of cash retainers in fully vested RSUs; annual equity grant standardizes alignment with shareholders .
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Watch items / potential red flags
- Interlocks: Multiple historical and current interlocks with independent Chair Stephen DeFalco (Creation Technologies, Crane & Co., Nordion/MDS). While both are classified independent at SENS, sustained ties may raise perception risks around objectivity in sensitive oversight areas; offset by formal independence determination and multi-member committee structure .
- Related-party exposure: SENS’s distribution agreement with Ascensia (82% of 2024 net revenue) and PHC rights to designate two directors concentrate influence with a key commercial partner; elevates the importance of rigorous Audit Committee oversight (chaired by Prince) over related-person transactions and revenue dependence .
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Board structure signals
- Clear separation of Chair and CEO with independent Chair; independent director executive sessions held regularly .
- Committee independence affirmed for all three standing committees; Prince serves on two (Audit chair; Nominating member) .
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Director compensation structure
- Transparent policy with modest cash retainers and equity calibrated at $112,500 annually; directors can elect stock in lieu of cash, which Prince utilized in 2024 (75,069 shares for $32,500) .
Context on related-party dealings: The Ascensia commercialization agreement pays tiered revenue shares and accounted for 82% of net revenue in 2024; Audit Committee is charged with reviewing and approving related-person transactions—an area directly within Prince’s chair remit .