Bryan Cox
About Bryan Cox
Bryan Cox is Chief of Research at TriSalus Life Sciences (TLSI), serving since June 2020; he previously led Integrative Pharmacology at Abbott, consulted at CoPharm Global, and is CEO and director at Nephraegis Therapeutics. He holds a B.S. in Biological Sciences (North Carolina State) and a Ph.D. in Pharmacology (University of Iowa); his age was 63 as of the 2025 proxy. Company performance during his tenure includes Q3 2025 revenue of $11.6M, up 57% YoY, gross margin of 84%, and reaffirmed 2025 revenue growth guidance of at least 50%; adjusted EBITDA loss improved versus prior year. These underscore commercial execution in devices (TriNav) while research shifted nelitolimod toward partnering.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TriSalus Life Sciences | Chief of Research | Jun 2020–present | Research leadership across delivery tech and immuno-oncology; executive officer designation. |
| Nephraegis Therapeutics | Chief Executive Officer | Nov 2018–present | Executive leadership of biotech; board director role. |
| CoPharm Global Consulting | Consultant | May 2013–Jun 2020 | Provided guidance to biotechnology companies. |
| Abbott Laboratories | Director of Integrative Pharmacology | 1996–2013 | Led integrative pharmacology within a global healthcare company. |
External Roles
| Organization | Role | Years |
|---|---|---|
| Nephraegis Therapeutics | Board of Directors | Nov 2018–present |
Fixed Compensation
- Bryan Cox’s base salary, target bonus %, and actual bonus amounts are not disclosed in the 2024 or 2025 proxy statements; 2024 and 2025 NEO tables include Szela, Murphy, and Devlin, but not Cox.
- Company-level benefits and compensation frameworks are described, but Cox-specific cash compensation figures are not provided.
Performance Compensation
- TriSalus uses equity awards to align executives with performance and retention: stock options (fair market value strike), RSUs (time-based vesting), and PSUs (performance-based vesting). This structure is approved under the 2023 Equity Incentive Plan.
- In 2025 MD&A, sales and marketing expense increases were partly due to performance-related compensation tied to higher sales, indicating incentive linkage to commercial outcomes (company-level, not Cox-specific).
Equity Ownership & Alignment
| Item | Detail | Date/Period |
|---|---|---|
| Preferred and Warrant Investment | Cox purchased 1,674 shares of Series B‑2 and warrants to buy 6,698 shares of Series B‑3 under the Preferred Stock and Warrant Purchase Agreement; gross proceeds $23,710 to Legacy TriSalus. | Oct 2022 financing (agreement referenced in proxy) |
| Warrant Exercise Participation | Cox purchased 3,166 shares of Series B‑3 upon warrant exercise; gross proceeds $6,406. | Jul 2023 |
| RSU Settlement – Sell‑to‑Cover Filing | Form 4 filed Dec 19, 2024 reflecting a sell‑to‑cover for tax withholding associated with RSU settlement; filing was 75 days after the transaction (timeliness control improved per company). | Dec 19, 2024 |
| Beneficial Ownership Table (2025) | The 2025 proxy beneficial ownership table lists executives and 5% holders; Cox is not shown in the excerpted table (suggesting no reportable threshold in that summary). | As of Mar 31, 2025 |
- Equity plan capacity and activity (company-wide): as of Sep 30, 2025, 5,298,720 options and 772,312 RSUs/PSUs were outstanding under the 2023 Plan; unrecognized compensation expense for options and RSUs/PSUs was $11.1M and $3.5M, with weighted-average remaining recognition of 2.80 years.
Employment Terms
- No Cox-specific employment agreement or severance/change-of-control multiples are disclosed in the 2024 or 2025 proxy summaries; employment arrangements summaries in 2024 cover Szela, Murphy, and Katz.
- 2023 Equity Incentive Plan change‑of‑control treatment: awards may be assumed/substituted, terminated, or otherwise treated at administrator discretion (including potential acceleration) in a merger/change‑in‑control.
- Section 16(a) compliance note: Cox filed a Form 4 on Dec 19, 2024, which was 75 days after a sell‑to‑cover transaction; company implemented additional controls to ensure timely filings.
Investment Implications
- Alignment: Cox has direct equity exposure via preferred stock and warrant-related purchases, indicating personal capital at risk and alignment with shareholders.
- Vesting and potential supply: Company-wide outstanding options and RSUs/PSUs and remaining expense recognition suggest ongoing equity vesting across executives; while Cox-specific balances aren’t disclosed, RSU settlement activity (sell‑to‑cover) indicates RSU usage, with limited evidence of discretionary selling pressure beyond tax withholding.
- Governance/controls: A late Section 16 filing related to sell‑to‑cover was noted and addressed with enhanced controls—worth monitoring but not indicative of systemic issues.
- Execution context: Company revenue growth (Q3 2025 +57% YoY) and reaffirmed ≥50% FY25 revenue growth guidance reflect commercial momentum under the broader leadership team during Cox’s research tenure; adjusted EBITDA losses narrowed, supporting improved operating leverage trends. Performance linkage to incentives is present at company level (performance‑related compensation in S&M with increased sales).
Data gaps: Cox’s specific cash compensation (salary, bonus targets), detailed vesting schedules, and severance/change‑of‑control economics are not disclosed in the latest proxies; consider obtaining Section 16 Forms via insider-trades data for current holdings, grants, and transactions to refine ownership and potential selling pressure analysis.