| | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON FRIDAY, DECEMBER 29, 2023: | | |
| | Our official Notice of Annual Meeting of Stockholders and Proxy Statement are available at: www.proxyvote.com | | |
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| Proposal 1: Elect Directors | | | Directors are elected by a majority of the votes cast | |
| Proposal 2: | ||||
| | The affirmative vote of the holders of a majority of the stock having voting power present in person or represented by proxy is required to ratify the appointment of our independent registered public accounting firm. We are not required to obtain the approval of our stockholders to select our independent registered public accounting firm. However, if our stockholders do not ratify the appointment of EisnerAmper LLP as our independent registered public accounting firm for the fiscal year ending December 31, | |
| | | | will reconsider its appointment. | |
| Proposal | | | The affirmative vote of the holders of a majority of the stock having voting power present in person or represented by proxy is required to approve, on an advisory basis, | |
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Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership(1) | | | Percent of Class(2) | | ||||||
Juggernaut Capital Partners III GP, Ltd.(3) | | | | | 6,769,578 | | | | | | 45.63% | | |
Bruce T. Bernstein(4) | | | | | 57,483 | | | | | | * | | |
Greg Bradley(5) | | | | | 25,000 | | | | | | * | | |
John Shulman(6) | | | | | 6,769,578 | | | | | | 45.63% | | |
Joshua N. Silverman(7) | | | | | 163,130 | | | | | | 1.23% | | |
Wayne R. Walker(8) | | | | | 25,000 | | | | | | * | | |
Fady Boctor(9) | | | | | 107,835 | | | | | | * | | |
Mitch Arnold(10) | | | | | 16,169 | | | | | | * | | |
Andrew Gesek(11) | | | | | 25,097 | | | | | | * | | |
Greg Ford(12) | | | | | 2,925 | | | | | | * | | |
Keith Lavan(13) | | | | | 976 | | | | | | * | | |
All directors and executive officers as a group | | | | | 7,189,292 | | | | | | 48.79% | | |
Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership(1) | | | Percent of Class(2) | | ||||||
5% Stockholders | | | | ||||||||||
Juggernaut Capital Partners III GP, Ltd.(3) | | | | | 789,969 | | | | | | 32.63% | | |
Alto Opportunity Master Fund, SPC-Segregated Master Portfolio B(4) | | | | | 167,139 | | | | | | 9.99% | | |
Named Executive Officers and Directors | | | | ||||||||||
Bruce T. Bernstein(5) | | | | | 13,346 | | | | | | * | | |
Gregory Bradley(6) | | | | | 13,314 | | | | | | * | | |
John D. Shulman(7) | | | | | 789,969 | | | | | | 32.63% | | |
Joshua N. Silverman(8) | | | | | 16,237 | | | | | | * | | |
Wayne R. Walker(9) | | | | | 13,314 | | | | | | * | | |
Fady Boctor(10) | | | | | 21,566 | | | | | | * | | |
Mitchell Arnold(11) | | | | | 5,117 | | | | | | * | | |
Andrew Gesek(12) | | | | | 10 | | | | | | * | | |
All directors and executive officers as a group | | | | | 872,863 | | | | | | 36.38% | | |
Name | | | Age | | | Position | |
John D. Shulman | | | | | | ||
Joshua N. Silverman | | | | | Vice Chairman of the Board | | |
Bruce T. Bernstein | | | | | Director | | |
Gregory Bradley | | | | | Director | | |
Wayne R. Walker | | | | | Director | |
Name | | | Age | | | Position | |
Fady Boctor, MBA | | | | | President and Chief Commercial Officer | | |
Mitchell Arnold, MBA | | | | | Vice President of Finance and Chief Accounting Officer | | |
| | Board Diversity Matrix for Petros Pharmaceuticals, Inc. | | | ||||||||||||||||||||||||||||||||
| | | | | | As of 11/02/2023 | | | | As of 07/05/2022 | | | ||||||||||||||||||||||||
| | Total Number of Directors | | | | 5 | | | | | | | ||||||||||||||||||||||||
| | Gender Identity | | | | Female | | | | Male | | | | Non- Binary | | | | Did Not Disclose Gender | | | | Female | | | | Male | | | | Non- Binary | | | | Did Not Disclose Gender | | |
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| | Directors | | | | | | | | 5 | | | | | | | | | | | | | | | | 5 | | | | | | | | | | |
| | Part II: Demographic Background | | | ||||||||||||||||||||||||||||||||
| | African American or Black | | | | | | | | 1 | | | | | | | | | | | | | | | | 1 | | | | | | | | | | |
| | Alaskan Native or Native American | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Asian | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Hispanic or Latinx | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Native Hawaiian or Pacific Islander | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | White | | | | | | | | 4 | | | | | | | | | | | | | | | | 4 | | | | | | | | | | |
| | Two or More Races or Ethnicities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | LGBTQ+ | | | | | | | | | ||||||||||||||||||||||||||
| | Did Not Disclose Demographic Background | | | | | | | | |
| | | | Description | | | Performance/ Job Considerations | | | Primary Objectives | |
| Base Salary | | | Fixed cash amount. | | | Increases based upon individual performance against goals, objectives and job criteria such as executive qualifications, responsibilities, role criticality, potential and market value. | | | Recruit qualified executives or personnel. Retention of personnel. | |
| Cash Incentive Opportunity | | | Short-term incentive, annual bonus opportunities. | | | Amount of actual payment based on achievement of corporate financial goals, key strategic and operating objectives. | | | Promote achievement of short-term financial goals and strategic and operating objectives. | |
| Retirement and Welfare Benefits | | | 401(k) plan, health and insurance benefits. | | | None, benefits offered to broad workforce. | | | Recruit qualified employees. | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Option Awards ($)(1) | | | Non-equity Incentive Plan Compensation ($) | | | All Other Compensation ($)(2) | | | Total ($) | | |||||||||||||||||||||
Fady Boctor | | | | | 2022 | | | | | | 350,000 | | | | | | 280,000 | | | | | | — | | | | | | — | | | | | | 52,209 | | | | | | 682,209 | | |
President and Chief Commercial Officer | | | | | 2021 | | | | | | 350,000 | | | | | | 125,000 | | | | | | 658,340 | | | | | | — | | | | | | 44,481 | | | | | | 1,177,821 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($)(1) | | | Non-equity Incentive Plan Compensation ($)(2) | | | All Other Compensation ($)(3) | | | Total ($) | | ||||||||||||||||||
Fady Boctor | | | | | 2020 | | | | | | 275,725 | | | | | | 125,000 | | | | | | — | | | | | | 67,125 | | | | | | 467,850 | | |
President and Chief Commercial Officer | | | | | 2019 | | | | | | 208,333 | | | | | | 50,000 | | | | | | — | | | | | | 81,412 | | | | | | 339,745 | | |
Mitchell Arnold | | | | | 2020 | | | | | | 236,250 | | | | | | 50,000 | | | | | | — | | | | | | 68,384 | | | | | | 354,634 | | |
Vice President of Finance and Chief Accounting Officer | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||
Andrew Gesek | | | | | 2020 | | | | | | 270,000 | | | | | | 75,000 | | | | | | — | | | | | | 62,423 | | | | | | 407,423 | | |
President, TIMM Medical | | | | | 2019 | | | | | | 300,000 | | | | | | — | | | | | | 234,688 | | | | | | 70,250 | | | | | | 604,937 | | |
Greg Ford(4) | | | | | 2020 | | | | | | 186,630 | | | | | | — | | | | | | — | | | | | | 66,070 | | | | | | 252,700 | | |
Chief Executive Officer | | | | | 2019 | | | | | | 367,744 | | | | | | — | | | | | | — | | | | | | 82,655 | | | | | | 450,399 | | |
Keith Lavan(5) | | | | | 2020 | | | | | | 316,856 | | | | | | 50,000 | | | | | | — | | | | | | 95,602 | | | | | | 462,458 | | |
Chief Financial Officer | | | | | 2019 | | | | | | 335,297 | | | | | | — | | | | | | — | | | | | | 78,005 | | | | | | 413,302 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Option Awards ($)(1) | | | Non-equity Incentive Plan Compensation ($) | | | All Other Compensation ($)(2) | | | Total ($) | | |||||||||||||||||||||
Mitchell Arnold | | | | | 2022 | | | | | | 288,750 | | | | | | 60,000 | | | | | | — | | | | | | — | | | | | | 58,264 | | | | | | 407,014 | | |
Vice President of Finance and Chief Accounting Officer | | | | | 2021 | | | | | | 262,500 | | | | | | 50,000 | | | | | | 131,659 | | | | | | — | | | | | | 53,424 | | | | | | 497,584 | | |
Andrew Gesek(3) | | | | | 2022 | | | | | | 128,750 | | | | | | — | | | | | | — | | | | | | — | | | | | | 7,046 | | | | | | 135,796 | | |
Former President, Timm Medical | | | | | 2021 | | | | | | 300,000 | | | | | | — | | | | | | 197,489 | | | | | | — | | | | | | 47,899 | | | | | | 545,388 | | |
| | | Option awards | | |||||||||||||||||||||||||||
Name | | | Vesting Commencement date | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Option Exercise Price ($) | | | Option Expiration Date | | |||||||||||||||
Fady Boctor | | | | | 2/19/2021 | | | | | | 16,175 | | | | | | 5,392 | | | | | $ | 37.40 | | | | | | 2/19/2031 | | |
Mitchell Arnold | | | | | 5/11/2021 | | | | | | 3,000 | | | | | | 2,000 | | | | | $ | 32.10 | | | | | | 5/11/2031 | | |
Name | | | Fees earned or paid in cash ($) | | | Stock awards ($) | | | Option awards ($)(1) | | | Non-equity incentive plan compensation ($) | | | Nonqualified deferred compensation earnings ($) | | | All other compensation ($) | | | Total ($) | | |||||||||||||||||||||
John D. Shulman | | | | | — | | | | | | — | | | | | | 159,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 159,000 | | |
Joshua N. Silverman | | | | | — | | | | | | — | | | | | | 159,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 159,000 | | |
Bruce T. Bernstein | | | | | — | | | | | | — | | | | | | 159,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 159,000 | | |
Gregory Bradley | | | | | — | | | | | | — | | | | | | 159,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 159,000 | | |
Wayne R. Walker | | | | | — | | | | | | — | | | | | | 159,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 159,000 | | |
Name | | | Fees earned or paid in cash ($) | | | Stock awards ($)(1) | | | Option awards ($)(2) | | | Non-equity incentive plan compensation ($) | | | Nonqualified deferred compensation earnings ($) | | | All other compensation ($) | | | Total ($) | | |||||||||||||||||||||
John D. Shulman(3) | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Joshua N. Silverman(4) | | | | | 200,000 | | | | | | 80,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 280,000 | | |
Bruce T. Bernstein(5) | | | | | 48,000 | | | | | | 72,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 120,000 | | |
Gregory Bradley(6) | | | | | 48,000 | | | | | | 72,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 120,000 | | |
Wayne R. Walker(7) | | | | | 48,000 | | | | | | 72,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 120,000 | | |
Plan Category | | | (a) Number of securities to be issued upon exercise of outstanding options, warrants and rights | | | (b) Weighted-average exercise price of outstanding options, warrants and rights | | | (c) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | |||||||||
Equity compensation plans approved by security holders | | | | | 1,078,346 | | | | | $ | 28.99 | | | | | | 0 | | |
Equity compensation plans not approved by security holders | | | | | N/A | | | | | | N/A | | | | | | N/A | | |
Total | | | | | 1,078,346 | | | | | $ | 28.99 | | | | | | 0 | | |
| | 2020 | | 2019 | | | 2022 | | 2021 | | ||||||||||||||||
Audit fees:(1) | | | $ | 567,240 | | | | $ | 174,720 | | | | | $ | 267,750 | | | | $ | 434,551 | | | ||||
Audit related fees:(2) | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Tax fees:(3) | | | | | | | | | 35,880 | | | | | | 13,125 | | | | | 5,775 | | | ||||
All other fees:(2) | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Total | | | $ | 567,240 | | | | $ | 210,600 | | | | | $ | 280,875 | | | | $ | 440,326 | | |