Martin Colombatto
About Martin Colombatto
Independent director of Catheter Precision, Inc. (NYSE American: VTAK), age 67 as of June 5, 2025, serving on the board since January 2017 . Background spans senior operating roles in semiconductors and networking (Broadcom VP/GM; LSI Logic; Texas Instruments) and CEO/Chairman roles in wireless semiconductors (Staccato Communications), plus venture experience as a Venture & Industry Partner at Seven Peaks Ventures LLP since January 2016 . Education: B.S. in Electronic Engineering Technology, California State Polytechnic University, Pomona .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| PLX Technology, Inc. | Director | Dec 2013–Aug 2014 | Public company board; technology sector |
| Staccato Communications, Inc. | CEO & President | Jan 2006–Mar 2009 | Ultra-Wideband semiconductor; later Executive Chairman Jan 2006–Sep 2010 |
| Broadcom Corp. | VP & GM, Networking BU | Jul 1996–Jul 2002 | Senior leadership in broadband communications semis |
| LSI Logic | Management roles | Aug 1987–Jul 1996 | ASIC semiconductor company |
| Reliance Electric | Engineering | Aug 1985–Jun 1987 | Production automation/control |
| Texas Instruments | Engineering | Jun 1982–Apr 1985 | Electronics |
External Roles
| Organization | Role | Tenure | Type |
|---|---|---|---|
| Seven Peaks Ventures LLP | Venture & Industry Partner | Jan 2016–present | Venture capital fund (Bend, OR) |
Board Governance
- Independence: Board determined Colombatto is “independent” under NYSE American rules .
- Committee assignments: Chair, Compensation Committee; Member, Nominating & Corporate Governance Committee .
- Attendance: Board held 10 meetings in FY2024; each director attended at least 75% of board and committee meetings on which they served .
- Executive sessions: Non‑management director executive sessions typically held with each regular quarterly board meeting .
- Board leadership: No Lead Independent Director; Executive Chairman David Jenkins chairs the board given small board size (4 directors) .
| Committee | Members | Chair | 2024 Meetings | Independence |
|---|---|---|---|---|
| Audit | James Caruso; Andrew Arno | James Caruso | 6 | Both independent |
| Compensation | Martin Colombatto; James Caruso | Martin Colombatto | 3 | Both independent; Rule 10C‑1 compliant |
| Nominating & Governance | Andrew Arno; Martin Colombatto | Andrew Arno | 0 (2 actions by written consent) | Both independent |
Fixed Compensation
- Structure: Non‑employee director cash retainer approved at $50,000 for 2024; reduced to $30,000 effective July 1, 2024; paid quarterly in arrears; travel expenses reimbursed .
- 2024 actuals for Colombatto: Fees earned $40,000; option award grant‑date fair value $9,538; total $49,538 .
| Year | Cash Retainer (policy) | Fees Earned (actual) | Meeting Fees | Notes |
|---|---|---|---|---|
| 2024 | $50,000 (reduced to $30,000 effective Jul 1, 2024) | $40,000 | Not disclosed (none indicated) | Retainer paid quarterly in arrears; travel reimbursed |
Performance Compensation
- Equity awards to non‑employee directors; no performance metrics disclosed for director equity (awards are service‑based) .
| Grant Date | Award Type | Shares | Exercise Price | Term | Vesting |
|---|---|---|---|---|---|
| Jan 8, 2024 | Non‑qualified stock options | 2,500 | $4.00 per share | 10 years | Vests quarterly over 3 years |
| Jan 29, 2025 | Non‑qualified stock options | 100,000 | $0.42 per share | 10 years | 33.33% at grant; 33.33% at first anniversary; 33.34% at second anniversary |
Prohibitions: Directors are prohibited from hedging company securities and from using company securities as collateral for loans (alignment positive) .
Other Directorships & Interlocks
| Company/Entity | Role | Public/Private | Notes |
|---|---|---|---|
| PLX Technology, Inc. | Director (former) | Public | Tenure Dec 2013–Aug 2014 |
| Seven Peaks Ventures LLP | Venture & Industry Partner | Private VC | Ongoing external affiliation; no related‑party transactions with VTAK disclosed |
- No current public company directorships besides VTAK disclosed for Colombatto, and no family relationships among directors or executive officers .
- Related‑party transactions section lists multiple items involving management and significant holders; none identify Colombatto as a related party participant .
Expertise & Qualifications
- Semiconductors and networking operations leadership (Broadcom; LSI Logic) .
- CEO/Chairman experience in wireless semiconductor startups (Staccato Communications) .
- Venture capital industry partner experience (Seven Peaks Ventures) .
- Technical degree in electronic engineering technology (Cal Poly Pomona) .
Equity Ownership
| As of Date (Record) | Beneficially Owned Shares | Options (Exercisable within 60 days) | Unvested Options | Ownership % |
|---|---|---|---|---|
| Sept 10, 2025 | 1,832 | 1,830 | 6,195 (not counted in beneficial ownership) | <1% |
- All directors and executive officers (5 persons) as a group: 22,953 shares; 1.53% of outstanding .
Governance Assessment
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Strengths:
- Independent status; chairs Compensation Committee, providing oversight over pay decisions and equity plans .
- Quarterly executive sessions of non‑management directors support independent oversight .
- Anti‑hedging and anti‑pledging policies bolster alignment with shareholders .
- Attendance threshold met (≥75%); engagement demonstrated via board and committee activities (10 board meetings; 3 compensation; 6 audit) .
-
Watch items / potential red flags:
- No Lead Independent Director despite an Executive Chairman; board assessed appropriateness given small size, but governance best practice often favors a lead independent role for balance .
- Nominating & Governance Committee held zero meetings in 2024 (two actions by written consent), which may constrain board refreshment rigor and governance cadence .
- Significant equity option grant in 2025 (100,000 options at $0.42) alongside reduced cash retainers suggests heavy reliance on equity; while alignment‑positive, monitor for future repricings or modifications (none disclosed) and dilution context amid the company’s financing needs .
- Company financing risk and contemplated large increases in authorized shares (to 500 million) could drive substantial dilution; while not director‑specific, board stewardship over capital strategy is a confidence factor to monitor .
-
Conflicts/related parties:
- No related‑party transactions disclosed involving Colombatto; no family relationships disclosed related to him .