William Link
About William J. Link
William J. Link, Ph.D., age 79, is an independent director of Tarsus Pharmaceuticals and has served on the Board since January 2017 . He co-founded Flying L Partners and Versant Venture Management, with a decades-long track record building and commercializing ophthalmology-focused medical device companies . Dr. Link holds B.S., M.S., and Ph.D. degrees in mechanical engineering from Purdue University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chiron Vision Corporation | Founder, Chairman & CEO | 1987–1997 | Built and exited to Bausch & Lomb Surgical |
| American Medical Optics | Founder & President | Pre-1999 | Exited to Allergan |
| Brentwood Venture Capital | General Partner | Pre-1999 | Life sciences investing |
| Edwards Lifesciences Corporation | Director | May 2009–May 2021 | Large-cap cardio device governance |
| Second Sight Medical Products | Director | 2003–May 2020 | Neuro-ophthalmic devices oversight |
| Glaukos Corporation | Director | June 2001–Dec 2021 | MIGS eye-care leadership |
| Oyster Point Pharma | Director | July 2015–Mar 2022 | Ophthalmology therapeutics oversight |
| Inogen, Inc. | Director | 2003–Feb 2014 | Oxygen therapy commercialization |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Lensar Inc. | Chair of the Board | Nov 2017 | Ophthalmic surgery laser platform |
| RxSight, Inc. | Chair of the Board | Nov 2016 | Light-adjustable IOLs |
| Flying L Partners | Managing Director & Co-founder | 2016 | Ophthalmic-focused venture investing |
| Versant Venture Management LLC | Managing Director & Co-founder | 1999 | Early-stage life sciences investing |
Board Governance
- Independence: The Board affirmatively determined Dr. Link is independent under Nasdaq rules; independent directors meet in executive session .
- Committees (as of April 15, 2025):
- Nominating & Corporate Governance Committee – Chair
- Compensation Committee – Member
- Science & Technology Committee – Member
- Attendance: The Board met four times in 2024; each director attended ≥75% of Board and committee meetings on which they served .
- Committee activity levels (2024): Audit (4), Compensation (5), Nominating & Governance (4), Science & Technology (4), Commercial (4) meetings .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 64,000 | 109,679 | 110,675 | 284,354 |
| 2023 | 62,250 | 61,506 | 59,574 | 183,330 |
Cash retainer schedule (effective for 2024; amended March 2025 increase noted):
- Board member: $40,000 annual; increased to $50,000 effective as of the 2025 Annual Meeting .
- Lead Independent Director: $75,000 .
- Committee chairs/members: Audit chair $20,000; Compensation chair $15,000; Nominating/Governance chair $10,000; Science & Technology chair $14,000; Audit member $10,000; Compensation member $7,500; Nominating/Governance member $5,000; Science & Technology member $6,500; Commercial chair $15,000; Commercial member $7,500 .
Performance Compensation
| Item | Grant Type | Quantity/Target Value | Vesting | Change-of-Control |
|---|---|---|---|---|
| Initial Equity Award (pre-2025 program) | Options + RSUs | 10,000 options + 6,700 RSUs | Options/RSUs vest in three equal annual installments | Director awards vest in full upon change of control |
| Annual Equity Award (pre-2025 program) | Options + RSUs | 5,000 options + 3,350 RSUs | Vest in full at one-year anniversary | Same as above |
| March 2025 amendment (grant-to-value) | 50% Options; 50% RSUs | Initial target value $540,000; Annual target value $270,000 | RSUs number = target value / 40-day avg close; Options number = target value / (Black-Scholes discount% × 40-day avg close) | Director awards vest in full upon change of control |
Notes:
- Director equity is time-based; no PSUs or performance metrics disclosed for directors .
Other Directorships & Interlocks
| Company | Role | Potential Interlock Risk |
|---|---|---|
| Lensar Inc. | Chair of the Board | Ophthalmic ecosystem overlap (surgical devices) |
| RxSight, Inc. | Chair of the Board | Ophthalmic ecosystem overlap (IOLs) |
| Equity Investment in private eye care company | Board member (Drs. Azamian & Link) | Tarsus invested $3,000,000 in April 2024; Link is a director at the investee (related-party exposure) |
Governance controls: Related party transactions require Audit Committee review/approval under written policy; transactions only approved if in stockholders’ best interests .
Expertise & Qualifications
- Mechanical engineering expertise (B.S./M.S./Ph.D., Purdue), medical device commercialization track record (founder/CEO roles), and deep ophthalmology network via venture leadership .
- Prior public company board service in ophthalmology and cardiology, indicating sophisticated governance experience in regulated device and therapeutics markets .
Equity Ownership
| Category | Shares |
|---|---|
| Direct ownership | 167,098 shares |
| Options exercisable within 60 days (Mar 31, 2025) | 166,632 shares |
| Indirect (Link Family Enterprise, LP) | 10,446 shares (beneficial ownership disclaimed except to pecuniary interest) |
| Total beneficial ownership | 344,176 shares; less than 1% of outstanding |
| RSUs held (as of Dec 31, 2024) | 3,350 RSUs |
Alignment and safeguards:
- Hedging and pledging of company stock are prohibited under Tarsus’s Insider Trading Policy .
Say-on-Pay & Shareholder Feedback (Governance Signal)
| Proposal (June 12, 2025 AGM) | Votes For | Votes Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Advisory vote on NEO compensation | 27,132,839 | 416,845 | 16,635 | 7,285,501 |
| Advisory vote frequency (1 year) | 26,916,300 (1-yr) | 3,376 (2-yr) | 637,239 (3-yr) | 9,404 (Abstain) |
Governance Assessment
- Board effectiveness: Independent director; chairs Nominating & Governance; active participation across committees; Board and committees met regularly; attendance ≥75% in 2024 supports engagement .
- Compensation alignment: Director pay mix balanced between cash retainers and time-vested equity; 2025 shift to grant-to-value enhances predictability and aligns with market practice; equity vests time-based; full acceleration on change-of-control is standard but reduces retention risk in transactions .
- Ownership and alignment: Holds direct and option-based exposure; RSUs outstanding; no pledging/hedging permitted, promoting alignment with long-term shareholders .
- Potential conflicts/related-party exposure: Tarsus’s $3,000,000 investment in a private eye care company where Dr. Link is a director introduces a related-party nexus; policy requires Audit Committee oversight and approval on arm’s-length terms; monitor ongoing involvement and disclosures. RED FLAG: Related-party transaction in core eye-care ecosystem .
- Shareholder confidence: Strong support on 2025 say-on-pay and annual frequency indicates investor alignment with compensation governance practices .
- Compensation committee advisor independence: Pay Governance serves as independent advisor; committee asserts no conflicts of interest, supporting robust pay governance .