Doug Evans
About Doug Evans
Doug Evans, age 60, is the independent Chairman of the Board at TELA Bio and has served as a director since April 2020. He is President and CEO of Lungpacer Medical Inc. (since January 2014) and previously served as COO and a board member at Kensey Nash Corporation (March 1995–May 2012). His credentials include an M.S. in Electrical Engineering and Photonics from the University of Pennsylvania, an MBA from Penn State Great Valley, and a B.S. in Engineering Sciences from Penn State University . TELA’s governance framework confirms an independent Chair and separation of CEO and Chair roles; Mr. Evans serves as Chairman while Antony Koblish serves as CEO .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lungpacer Medical Inc. | President & Chief Executive Officer | Jan 2014–present | Oversees commercialization and leadership in medical devices |
| Kensey Nash Corporation | Chief Operating Officer; Board Member | Mar 1995–May 2012 | Senior operating leadership in medical devices |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| WhiteSwell Medical | Director | Not disclosed | Private medical device company |
| Lungpacer Medical Inc. | Director | Not disclosed | Private medical device company |
| Intact Vascular, Inc. | Director (prior) | Not disclosed | Previously served; private company |
| Other public directorships | None | — | No current public company boards |
Board Governance
- Independent status: TELA’s Board determined all non-employee directors are independent; Evans is independent .
- Board leadership: Independent Chairman of the Board; CEO and Chair roles are separated; Mr. Evans is Chairman .
- Committees: Audit Committee member; Compensation Committee member .
- Financial literacy: All Audit Committee members (including Evans) are “independent” and financially literate under SEC/Nasdaq rules .
- Attendance and engagement: In 2024, the Board held 13 meetings; Audit (5), Compensation (7), Nominating & Corporate Governance (6). Each director attended at least 75% of meetings of the Board and committees on which they served; all directors attended the 2024 Annual Meeting .
- Executive sessions: Independent directors meet in executive session regularly without management .
- Compensation committee independence and consultant: Compensation Committee members are independent; uses Aon Human Capital Solutions as an independent advisor; Aon provides only compensation advisory services (no other services to the company) .
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Annual cash retainer (director) | $45,000 | |
| Non-Executive Chairman cash retainer | $35,000 | |
| Committee member retainers | Audit: $10,000; Compensation: $7,500; Nominating & Corporate Governance: $5,000 | |
| Committee chair retainers | Audit: $20,000; Compensation: $15,000; Nominating & Corporate Governance: $10,000 | |
| 2024 Director compensation (Doug Evans) | Cash fees: $101,014; Stock awards (grant-date fair value): $24,268; Option awards (grant-date fair value): $23,415; Total: $148,697 |
Mix signal: In 2024, Evans’ director pay was ~68% cash ($101,014 of $148,697) and ~32% equity by grant-date accounting values .
Performance Compensation
| Equity Program Element | Grant Size | Vesting | Change-in-Control Terms | Source |
|---|---|---|---|---|
| Initial equity award (pre-2025) | Option: 9,300; RSU: 6,375 | Options: 36 equal monthly installments; RSUs: 3 equal annual installments | Initial awards vest in full upon change in control; Committee may accelerate on death | |
| Annual equity award (pre-2025) | Option: 6,200; RSU: 4,250 | Earlier of: 1st anniversary; next annual meeting; or change in control | Vest accelerates under change in control terms noted | |
| Initial equity award (starting Jan 1, 2025) | Option: 17,550; RSU: 11,925 | As above | As above | |
| Annual equity award (starting Jan 1, 2025) | Option: 11,700; RSU: 7,950 | As above | As above |
Insider award activity (Form 4):
| Filing Date | Transaction Date | Type | Security | Quantity | Price | Post-Transaction Ownership | SEC URL |
|---|---|---|---|---|---|---|---|
| 2025-05-30 | 2025-05-28 | A (Award) | RSU/Common Stock | 7,950 | $0.00 | 18,470 | https://www.sec.gov/Archives/edgar/data/1561921/000106299325010577/0001062993-25-010577-index.htm |
| 2025-05-30 | 2025-05-28 | A (Award) | Stock Option (Right to Buy) | 11,700 | $1.39 | 11,700 | https://www.sec.gov/Archives/edgar/data/1561921/000106299325010577/0001062993-25-010577-index.htm |
| 2024-06-06 | 2024-06-04 | A (Award) | RSU/Common Stock | 4,250 | $0.00 | 10,520 | https://www.sec.gov/Archives/edgar/data/1561921/000106299324012092/0001062993-24-012092-index.htm |
| 2024-06-06 | 2024-06-04 | A (Award) | Stock Option (Right to Buy) | 6,200 | $5.71 | 6,200 | https://www.sec.gov/Archives/edgar/data/1561921/000106299324012092/0001062993-24-012092-index.htm |
Other Directorships & Interlocks
| Category | Details | Source |
|---|---|---|
| Current public company boards | None | |
| Compensation Committee interlocks | None; no insider participation |
Expertise & Qualifications
- Extensive executive leadership and commercialization experience in medical devices; prior COO and current CEO roles underscore operational depth .
- Audit Committee member and financially literate under SEC/Nasdaq rules; complements Board oversight of financial reporting and risk .
- Education: M.S. (UPenn), MBA (PSU Great Valley), B.S. (PSU) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Breakdown | Source |
|---|---|---|---|---|
| Doug Evans | 44,621 | <1% | 6,270 common shares; 38,351 options exercisable within 60 days |
Outstanding awards (as of FY-end 2024):
| Metric | Value | Source |
|---|---|---|
| Vested options | 38,351 | |
| Unvested options | 6,200 | |
| Unvested RSUs | 4,250 |
Policies impacting alignment:
- Hedging/pledging: Directors are prohibited from hedging, short sales, holding in margin accounts, and pledging company securities .
Governance Assessment
- Board effectiveness: Independent Chair structure and regular executive sessions enhance oversight; Evans’ dual committee roles (Audit, Compensation) strengthen financial and pay governance .
- Independence and attendance: Independent status confirmed; Evans met the company-wide threshold of at least 75% meeting attendance in 2024; all directors attended the 2024 Annual Meeting .
- Compensation alignment: Director pay combines cash retainers and equity with standard time-based vesting; 2025 increase in director equity grants (options and RSUs) raises at-risk exposure and alignment with shareholder outcomes; change-in-control acceleration exists for director awards .
- Related-party/conflicts: No Evans-specific related-party transactions disclosed; company employs a formal Related Party Transaction Policy overseen by the Audit Committee .
- Risk indicators: Hedging/pledging prohibited; Compensation Committee reports no interlocks; independent compensation consultant with limited scope (no other services) .
- RED FLAGS: None disclosed specific to Evans. Note potential time-commitment consideration given his CEO role at Lungpacer; however, Board attendance thresholds were met in 2024 .
Say-on-Pay context: 2025 includes the company’s first advisory say‑on‑pay vote post “emerging growth company” status; Board and Compensation Committee will consider vote outcomes and ongoing investor feedback .