Kimberly R. Peery
About Kimberly R. Peery
Kimberly R. Peery is Chief Financial Officer (CFO) of Stereotaxis, Inc. (STXS), appointed in October 2019, and has been with the company since 2003; she is a Certified Public Accountant and age 56 as disclosed in the FY2024 Form 10-K . Under her tenure, company-level pay-versus-performance disclosures show TSR of $37.42 in 2024 (value of $100 initial investment) and net loss of $24.05 million; TSR was $28.23 with net loss of $20.71 million in 2023, and $33.39 with net loss of $18.30 million in 2022 . Annual incentive awards for non-CEO executives (including the CFO) have been discretionary rather than formulaic in recent years, with no fixed performance weighting or targets disclosed .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Stereotaxis, Inc. | Controller | Apr 2013–Nov 2016 | Not disclosed |
| Stereotaxis, Inc. | Vice President of Finance & Information Systems | Nov 2016–Oct 2019 | Not disclosed |
| Stereotaxis, Inc. | Chief Financial Officer | Oct 2019–present | Not disclosed |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various private companies | Controller | Pre-2003 | Not disclosed |
Fixed Compensation
Multi-year CFO compensation (as reported):
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Salary ($) | 220,000 | 220,000 | 222,500 | 223,000 | 226,750 |
| All Other Compensation ($) | 8,948 | 9,098 | 9,340 | 8,758 | 8,895 |
| Total Compensation ($) | 394,108 | 447,540 | 386,760 | 323,798 | 340,165 |
Notes:
- All Other Compensation includes group term life premiums and employer match contributions to the 401(k) plan .
- Employer match was up to 3% of salary for 2024 (paid in 2025) .
Performance Compensation
Annual incentives and equity awards:
| Incentive Type | Year | Metric | Weighting | Target | Actual Payout / Grant | Vesting |
|---|---|---|---|---|---|---|
| Annual Incentive (cash) | 2020 | Discretionary (no formulaic goals) | N/A | N/A | $35,000 | Paid for FY performance |
| Annual Incentive (cash) | 2021 | Discretionary (no formulaic goals) | N/A | N/A | $40,722 | Paid for FY performance |
| Annual Incentive (cash) | 2022 | Discretionary (no formulaic goals) | N/A | N/A | $20,000 | Paid for FY performance |
| Annual Incentive (cash) | 2023 | Discretionary (no formulaic goals) | N/A | N/A | $20,000 | Paid for FY performance |
| Annual Incentive (cash) | 2024 | Discretionary (no formulaic goals) | N/A | N/A | $20,000 | Paid for prior-year performance |
| Stock Options (grant-date fair value) | 2020 | Service-based | N/A | N/A | $130,160 | 25% at 1 year; then monthly over 36 months |
| Stock Options (grant-date fair value) | 2021 | Service-based | N/A | N/A | $177,720 | 25% at 1 year; then monthly over 36 months |
| Stock Options (grant-date fair value) | 2022 | Service-based | N/A | N/A | $134,920 | 25% at 1 year; then monthly over 36 months |
| Stock Options (grant-date fair value) | 2023 | Service-based | N/A | N/A | $72,040 | 25% at 1 year; then monthly over 36 months |
| Stock Options (grant-date fair value) | 2024 | Service-based | N/A | N/A | $84,520 | 25% at 1 year; then monthly over 36 months |
Policies:
- The Compensation Committee did not establish objective, formulaic performance metrics for annual incentives for recent years; awards were discretionary .
- Clawback: incentive compensation (bonus and equity) can be recouped if the company restates financials due to fraud, gross negligence or willful misconduct; lookback covers the prior three fiscal years .
Equity Ownership & Alignment
Beneficial ownership and option profile:
| As-of Date | Shares Beneficially Owned | % of Common Shares Outstanding | Notes |
|---|---|---|---|
| Mar 20, 2023 | 123,067 | <1% (*) | Company had 75,055,484 common shares outstanding; preferred shares convertible with limits |
| Mar 18, 2024 | 159,067 | <1% (*) | Includes options to purchase 155,750 shares; total common shares 82,128,762 |
Outstanding equity awards (as of Dec 31, 2024):
| Date of Award | Options Exercisable (#) | Options Unexercisable (#) | Exercise Price ($) | Expiration Date |
|---|---|---|---|---|
| 02/26/2018 | 15,750 | – | 0.74 | 02/26/2028 |
| 03/03/2019 | 35,000 | – | 2.03 | 03/03/2029 |
| 03/09/2020 | 40,000 | – | 4.52 | 03/09/2030 |
| 03/08/2021 | 37,522 | 2,478 | 6.96 | 03/08/2031 |
| 02/25/2022 | 28,348 | 11,652 | 4.80 | 02/25/2032 |
| 03/01/2023 | 18,340 | 21,660 | 2.57 | 03/01/2033 |
| 04/02/2024 | – | 40,000 | 3.01 | 04/02/2034 |
Vesting policy:
- Options/SARs vest at 25% one year from grant and in 36 equal monthly installments thereafter .
Hedging/pledging:
- Insider trading policy is adopted and applies to officers; it governs purchases/sales and pre-planned trading plans (Rule 10b5-1) and prohibits trading while aware of MNPI; the filed policy is referenced in the 2024 10-K exhibit . No explicit disclosure of executive stock pledging by Peery was found in the reviewed materials.
Employment Terms
- Appointment: CFO since October 2019; with the company since 2003 .
- Change-of-control and award treatment: Under stock incentive plans, awards generally do not accelerate upon retirement, resignation, or other termination; they may be exercised for specified periods after retirement, death, or disability. In a change of control, the Compensation Committee may terminate awards for cash or issue substitute awards; vesting may be accelerated at the Committee’s discretion. These provisions are generally applicable to plan participants, including Named Executive Officers .
- Clawback: Compensation recoupment policy for restatements due to fraud, gross negligence or willful misconduct covering the prior three fiscal years .
- Benefits: Healthcare and other insurance on the same terms as employees; 401(k) match up to 3% in 2024 (paid in 2025); ESPP allows eligible employees (excluding ≥5% owners) to purchase stock at 95% of market price with up to 15% of salary/incentives, subject to limits .
Investment Implications
- Pay-for-performance alignment: Annual cash incentives for the CFO have been discretionary without disclosed objective metrics or weights, which reduces transparency and tight linkage to company performance; modest consistent payouts ($20k in 2022–2024) limit inflation risk but are not formula-driven . Company-level PVP shows negative net income across years and low TSR levels, indicating continuing profitability headwinds during tenure .
- Insider selling pressure: A sizable ladder of service-vested options continues to vest monthly with expirations through 2034; several tranches are in the $0.74–$6.96 strike range, creating ongoing potential for exercises and subsequent sales, though no Form 4 transaction analysis was available from our tool due to access restrictions . Vesting cadence (25% + monthly over 36 months) implies steady increases in exercisable options over time .
- Alignment and ownership: Direct beneficial ownership is <1% (159,067 shares as of March 18, 2024), with alignment primarily via options rather than significant outright stock; no pledging disclosures for Peery were identified in company filings reviewed .
- Retention and change-of-control: Equity awards generally do not accelerate on termination absent change-of-control, supporting retention; the Committee maintains discretion in change-of-control scenarios to accelerate, cash-out, or substitute awards, which may impact executive decision-making in strategic transactions .
- Governance safeguards: An insider trading policy and clawback framework are in place, which mitigates some governance risks associated with incentive compensation and trading .
Appendix: Additional Compensation Detail
Full CFO compensation breakdown (2020–2024):
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Salary ($) | 220,000 | 220,000 | 222,500 | 223,000 | 226,750 |
| Option Awards ($) | 130,160 | 177,720 | 134,920 | 72,040 | 84,520 |
| Non-Equity Incentive Plan ($) | 35,000 | 40,722 | 20,000 | 20,000 | 20,000 |
| All Other Compensation ($) | 8,948 | 9,098 | 9,340 | 8,758 | 8,895 |
| Total ($) | 394,108 | 447,540 | 386,760 | 323,798 | 340,165 |