Jeffrey Blizard
About Jeffrey Blizard
Independent director at SANUWAVE Health, Inc. (SNWV) since April 2022; age 56. President of TELA Bio with prior senior commercial leadership roles at Abiomed (Global Head of Surgical Sales since 2017), Medtronic, HeartWare, Intuitive Surgical, and Boston Scientific—bringing deep medical device commercialization and capital equipment sales expertise. Determined independent under Nasdaq rules; serves as Compensation Committee Chair and sits on Audit and Nominating & Corporate Governance committees .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Abiomed (J&J MedTech) | Global Head of Surgical Sales; previously GM Sales – CT Surgery/Heart Failure/ECMO; National Director of Sales – CT Surgery/Heart Failure | Since 2017; earlier roles prior to 2017 | Led Impella surgical market commercialization; capital equipment sales leadership |
| Medtronic | Senior sales leadership (not specified) | Not disclosed | Medical device commercial leadership |
| HeartWare | Senior sales leadership (not specified) | Not disclosed | Cardiac device commercialization |
| Intuitive Surgical | Senior sales leadership (not specified) | Not disclosed | Robotic surgery commercial experience |
| Boston Scientific | Senior sales leadership (not specified) | Not disclosed | Broad medtech sales expertise |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| TELA Bio | President | Current | Soft tissue reconstruction solutions; external executive role enhances market/commercial insight |
Board Governance
- Committee assignments: Chair, Compensation Committee; Member, Audit Committee; Member, Nominating & Corporate Governance Committee .
- Independence: Board determined Blizard is independent under Nasdaq and Exchange Act committee independence rules (Rule 10C-1(b)(1)) .
- Attendance: In 2024 the Board held five meetings; all incumbent directors attended at least 75% of Board and applicable committee meetings .
- Lead Independent Director: Ian Miller serves as Lead Director; responsibilities include executive sessions of independent directors, agenda approval, liaison role .
- Executive sessions: Compensation Committee meets regularly in executive session; management does not attend .
Fixed Compensation
| Component | FY 2023 | FY 2024 | Notes |
|---|---|---|---|
| Cash retainer (director) | $90,000 | $0 | Program shifted from cash to equity beginning Oct 2024 |
| Meeting/committee fees | Included in FY23 retainer | Audit Chair receives $2,500 per quarter (Blizard not audit chair) | Audit Chair add-on applies to Ian Miller |
| Option awards (grant-date fair value) | Not disclosed for FY23 directors | $372,000 | Includes $352,000 one-time grant in Oct 2024 plus $20,000 quarterly grant in Dec 2024 |
Performance Compensation
| Grant | Grant Date | Type | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| One-time option grant for prior Board service | Oct 2024 | Stock Options | $352,000 | Vests quarterly over 3 years |
| Quarterly director option grant | Dec 2024 | Stock Options | $20,000 | Vests immediately upon grant |
- No performance metrics disclosed for director equity awards; vesting is time-based (quarterly or immediate) .
Other Directorships & Interlocks
- Public company directorships: None disclosed for Blizard .
- External executive role: President at TELA Bio (no disclosed related-party dealings with SNWV) .
- Related party transactions: 2022–2024 financings involved certain directors and major holders; Blizard not listed among transaction participants .
Expertise & Qualifications
- Medical device commercialization (capital equipment), sales leadership, and market development; extensive experience across Abiomed, Medtronic, HeartWare, Intuitive Surgical, Boston Scientific .
- Governance fit: Compensation leadership and audit oversight experience; independent status supports committee chairmanship .
Equity Ownership
| As-of Date | Beneficial Ownership (Shares) | Ownership % of Outstanding | Notes |
|---|---|---|---|
| July 8, 2025 (Record Date) | 15,227 | <1% | Beneficial ownership per proxy table |
| Dec 31, 2024 (FY end) | Stock options exercisable for 42,892 shares | N/A | Options exercisable within 60 days; director program shifted to equity in Oct 2024 |
- Insider trading and hedging/pledging: Company policy prohibits pledging, hedging, short sales, and derivatives by directors/officers .
Insider Trades (Form 4)
| Transaction Date | Filing Date | Type | Quantity | Price | Security | Source |
|---|---|---|---|---|---|---|
| 2024-10-22 | 2025-03-18 | Award (A) | 41,333 | $14.20 | Stock Option (right to buy) | |
| 2024-12-31 | 2025-03-18 | Award (A) | 1,559 | $22.76 | Stock Option (right to buy) | |
| 2025-04-03 | 2025-04-07 | Award (A) | 1,761 | $29.80 | Stock Option (right to buy) | |
| 2025-06-30 | 2025-07-02 | Award (A) | 1,574 | $32.86 | Stock Option (right to buy) |
Governance Assessment
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Strengths: Independent director; Compensation Committee chair with clear charter; member of Audit and Nominating & Corporate Governance fosters robust oversight. Board uses Lead Independent Director structure; committees meet in executive session; insider policy prohibits hedging/pledging—alignment with shareholders .
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Alignment: Director compensation moved from cash (FY23) to equity-only (FY24), with quarterly grants and a one-time catch-up option award—enhances equity alignment but increases dilution sensitivity .
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Ownership: Beneficial stake is modest (<1%); options provide potential upside but limited “skin-in-the-game” by share count; no pledging disclosed .
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Attendance/engagement: Met ≥75% attendance threshold in 2024; active leadership on Comp Committee and participation on Audit and Nominating committees .
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RED FLAGS:
- Delinquent Section 16 filings: Blizard had three reports and two transactions not timely reported—procedural governance risk that can affect investor confidence .
- Material weaknesses in internal controls at the company noted by auditors (company-level risk overseen by Audit Committee); increases demands on Audit Committee members, including Blizard .
- One-time $352,000 option grant for prior service (Oct 2024) to all non-employee directors—could be perceived as retroactive pay; monitor dilution and pay-for-service rationale .
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Overall: Experience and committee leadership support governance effectiveness; independence and equity-heavy pay align incentives. Addressing late Section 16 filings and strengthening internal controls are priorities to reinforce investor confidence .