Jodi Devlin
About Jodi Devlin
Jodi Devlin, age 63, is Chief of Clinical Operations at TriSalus Life Sciences (TLSI) and has served in this role since January 6, 2025; she previously served as President of Commercial Operations from August 2023 to January 2025 . She holds a BS in Nursing from the University of Oklahoma and an MBA from Washington University’s Olin School of Business, and brings 30+ years of biotech/pharma experience in prelaunch strategy, global launches, medical affairs, marketing, reimbursement, and patient advocacy . Prior roles include CEO of AltaThera Pharmaceuticals (2018–2022) and 21 years at Abbott across pipeline planning and global commercial leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| TriSalus Life Sciences | President, Commercial Operations | Aug 2023–Jan 2025 | Led go-to-market across patient advocacy, medical affairs, HEOR, and commercial execution . |
| AltaThera Pharmaceuticals | Chief Executive Officer | May 2018–Dec 2022 | Executed a successful company turnaround . |
| Abbott Laboratories | Various commercial leadership roles | ~1992–2013 (21 years) | Led pipeline planning, global launches, and commercial organizations . |
| Hospitals (NY & MO) | Nurse | Prior to industry roles | Built clinical foundation for later commercial/clinical leadership . |
External Roles
| Organization | Role | Status/Years |
|---|---|---|
| Fitabeo Therapeutics | Chairman of the Board | Current (year not disclosed) . |
Fixed Compensation
Multi-year summary compensation (reported):
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | — | $501,705 |
| Stock Awards ($) | — | $166,250 |
| Option Awards ($) | — | $565,772 |
| Non-Equity Incentive Plan Compensation ($) | — | $125,000 |
| All Other Compensation ($) | — | $25,014 |
| Total ($) | — | $1,383,741 |
Current compensation terms:
| As of | Base Salary | Target Bonus % |
|---|---|---|
| Jan 2025 (amended agreement) | $450,000 | 50% of base |
Additional context:
- As of Dec 31, 2024, the annual base salary level was $500,000 .
- Executives could elect to convert a portion of 2025 base salary into RSUs under a Salary Investment Program; as of Dec 31, 2024, executives had elected $515,052 in aggregate, with RSUs vesting 12.5% at grant, then 25% on May 15, Aug 15, Nov 15, 2025, and the remainder on Feb 13, 2026 (company-wide program; individual elections not disclosed) .
Performance Compensation
2024 annual incentive structure and payout:
| Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| 2024 corporate goals (company-established) | Not disclosed | 50% of base salary | Board determined payout at 50% of target; $125,000 paid in fully vested RSUs, to be granted after filing | Fully vested RSUs at grant; grant timing after proxy filing |
Notes:
- NEO bonus mechanics: target bonus 50% of base (Devlin), based on percentage attainment of corporate goals set by the Board .
- No disclosure of specific performance metrics or weightings for Devlin’s 2024 bonus .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 157,736 shares; less than 1% of outstanding common stock . |
| Composition | 39,612 shares held directly after RSU settlement; 118,124 shares issuable from options exercisable within 60 days of March 31, 2025 . |
| Unvested RSUs | 17,500 (grant date 2/12/2024), fair value $87,675 at $5.01/share on 12/31/2024 . |
| Pledging/Hedging policy | Hedging and pledging company stock are prohibited for directors and executive officers under the Insider Trading Policy . |
| Ownership guidelines | Compensation Committee may establish stock ownership guidelines; specific requirements not disclosed . |
Outstanding Equity Awards and Vesting
| Grant Date | Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price | Vesting Schedule |
|---|---|---|---|---|---|
| 8/30/2023 | Stock Options | 14,925 | 44,775 | $6.70 | 25% at first anniversary (Aug 30, 2024), then 1/48 monthly thereafter . |
| 8/30/2023 | Stock Options | 50,075 | 85,225 | $6.70 | 25% at first anniversary (Aug 30, 2024), then 1/48 monthly thereafter . |
| 2/12/2024 | RSUs | — | 17,500 | — | 25% each anniversary of 2/12/2024 over 4 years . |
| 2/12/2024 | Stock Options | — | 100,625 | $9.50 | 25% at first anniversary (Feb 12, 2025), then 1/48 monthly thereafter . |
| 2/12/2024 | Stock Options | — | 4,375 | $9.50 | 25% at first anniversary (Feb 12, 2025), then 1/48 monthly thereafter . |
Valuation reference: $5.01/share closing price on Dec 31, 2024 used for market value disclosures .
Employment Terms
- Employment status: At-will; amended and restated executive employment agreement in January 2025 confirms base salary $450,000 and target bonus up to 50% of base, with eligibility for standard benefit plans .
- Severance (without cause or resignation for good reason): 12 months of annual base salary; potential pro rata annual bonus if termination occurs in Q4 and financial objectives are achieved; continued vesting ceases unless otherwise provided .
- Change-in-control (double trigger within 1 year): Lump sum equal to 12 months base salary plus target annual bonus; 12 months of continued medical/dental/vision benefits cost; full vesting of outstanding time-based stock options and other equity incentives .
- Clawbacks: Compensation Committee has authority to approve/modify clawback policies allowing recoupment of improper compensation; specific triggers not disclosed .
- Insider trading, hedging, and pledging: Executives and directors may not hedge or pledge company stock; margin purchases and loans against company stock are prohibited .
Investment Implications
- Alignment: Devlin’s beneficial ownership is modest (<1%), but compensation includes significant equity with multi-year vesting, and company policy prohibits hedging/pledging, supporting alignment with long-term shareholders .
- Pay-for-performance signal: 2024 bonus paid at 50% of target in fully vested RSUs indicates measured payout against corporate goals; lack of disclosed metric detail limits transparency but confirms performance linkage .
- Retention and transition risk: Double-trigger change-in-control protections (cash severance, benefits, accelerated vesting) plus standard severance reduce retention risk during strategic events, but also create potential cost in transactions .
- Potential selling pressure: Time-based RSUs vest annually (Feb 12) and options vest monthly post first anniversaries, which may create periodic liquidity windows around vest dates, subject to blackout policies and personal decisions .
- Governance and risk: Clawback authority exists; insiders cannot hedge or pledge; ownership guidelines may be set but are not disclosed—collectively supportive of governance, though disclosure gaps on performance metrics/stock ownership requirements persist .