Definitive proxy statements

Pay vs Performance Disclosure

v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Summary Compensation Total (in thousands)
Compensation Actually Paid (in thousands)
Value of Initial Fixed $100 Investment Based on: (4)
Revenue Growth (%) (5)
Year
PEO 1 ($) (1)
PEO 2 ($) (1)
Average of Non-PEO NEOs ($) (1)
PEO 1 ($) (1)(2)(3)
PEO 2 ($) (1)(2)(3)
Average of Non-PEO NEOs ($) (1)(2)(3)
TSR ($) Peer Group TSR ($) Net Loss (in thousands) ($)
2024 2,476  8,848  2,227  10,438  12,097  4,708  92.12  118.20  (9,964) 17.8  %
2023 5,535  —  1,951  2,877  —  548  38.18  118.87  (21,716) 14.7  %
2022 4,398  —  1,517  5,382  —  1,428  55.79  113.65  (28,948) 12.5  %
2021 5,361  —  1,821  289  —  386  52.38  126.45  (26,985) 15.4  %
2020 4,051  —  1,321  3,178  —  1,502  100.06  126.42  (23,786) 6.2  %
       
Company Selected Measure Name Adjusted Revenue Growth        
Named Executive Officers, Footnote
(1)     Karen Zaderej ("PEO 1") was the Company's Principal Executive Officer ("PEO") for each of the years presented until August 8, 2024. Michael Dale ("PEO 2") assumed the role as the current PEO on August 8, 2024. The Non-PEO NEOs for each of the years presented are as follows:
2020 2021 2022 2023 2024
Peter Mariani Peter Mariani Peter Mariani Nir Naor Nir Naor
Bradley Ottinger Maria Martinez Bradly Ottinger Erick DeVinney Erick DeVinney
Angelo Scopelianos Angelo Scopelianos Angelo Scopelianos Angelo Scopelianos Marc Began
Eric Sandberg Eric Sandberg Michael Donovan Michael Donovan Jens Kemp
Eric Sandberg Peter Mariani
       
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table uses the Nasdaq Biotechnology Index, which we use in the stock performance graph required by Item 201(e) of Regulation S-K included in our 2024 Annual Report. The comparison assumes $100 was invested for the period starting December 31, 2019 through December 31, 2024 in the Company and in the Nasdaq Biotechnology Index. Historical stock performance is not necessarily indicative of future performance.        
Adjustment To PEO Compensation, Footnote The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s PEOs and NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in Note (3) below.Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with ASC 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
Year NEOs
Summary Compensation Total (in thousands) ($)
Exclusion of Stock Awards and Option Awards (in thousands) ($)
Inclusion of Equity Values (in thousands) ($) (a)
Compensation Actually Paid (in thousands) ($)
2024 PEO 1 2,476  —  7,962  10,438 
PEO 2 8,848  (8,025) 11,274  12,097 
Average of Non-PEO NEOs 2,227  (1,382) 3,863  4,708 
2023 PEO 1 5,535  (4,045) 1,387  2,877 
Average of Non-PEO NEOs 1,951  (1,125) (278) 548 
2022 PEO 1 4,398  (3,546) 4,530  5,382 
Average of Non-PEO NEOs 1,517  (974) 884  1,428 
2021 PEO 1 5,361  (4,204) (868) 289 
Average of Non-PEO NEOs 1,821  (1,237) (199) 386 
2020 PEO 1 4,051  (2,513) 1,639  3,178 
Average of Non-PEO NEOs 1,321  (636) 817  1,502 
The amounts in the Inclusion of Equity Values column are derived from the amounts set forth in the following table:
Year-End Fair Value of Equity Awards Granted During the Year that Remained Unvested as of Last Day of the Year ($)
 Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Awards ($) Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During the Year ($) Fair Value at Last Day of Prior Year of Equity Awards Forfeited During the Year of Non-PEO NEOs ($) Total ($)
Year NEOs
(in thousands)
2024 PEO 1 —  7,957  142  (137) 7,962 
PEO 2 11,274  —  —  11,274 
Average of Non-PEO NEOs 2,762  1,057  44  —  3,863 
2023 PEO 1 3,326  (1,608) (331) —  1,387 
Average of Non-PEO NEOs 614  (265) (85) (542) (278)
2022 PEO 1 4,477  121  (68) —  4,530 
Average of Non-PEO NEOs 941  39  (15) (81) 884 
2021 PEO 1 778  (1,625) (21) —  (868)
Average of Non-PEO NEOs 339  (528) (10) —  (199)
2020 PEO 1 3,083  (1,086) (359) —  1,639 
Average of Non-PEO NEOs 1,004  (83) (104) —  817 
       
Non-PEO NEO Average Total Compensation Amount $ 2,227,000 $ 1,951,000 $ 1,517,000 $ 1,821,000 $ 1,321,000
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,708,000 548,000 1,428,000 386,000 1,502,000
Adjustment to Non-PEO NEO Compensation Footnote The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s PEOs and NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in Note (3) below.Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEOs and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with ASC 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.
Year NEOs
Summary Compensation Total (in thousands) ($)
Exclusion of Stock Awards and Option Awards (in thousands) ($)
Inclusion of Equity Values (in thousands) ($) (a)
Compensation Actually Paid (in thousands) ($)
2024 PEO 1 2,476  —  7,962  10,438 
PEO 2 8,848  (8,025) 11,274  12,097 
Average of Non-PEO NEOs 2,227  (1,382) 3,863  4,708 
2023 PEO 1 5,535  (4,045) 1,387  2,877 
Average of Non-PEO NEOs 1,951  (1,125) (278) 548 
2022 PEO 1 4,398  (3,546) 4,530  5,382 
Average of Non-PEO NEOs 1,517  (974) 884  1,428 
2021 PEO 1 5,361  (4,204) (868) 289 
Average of Non-PEO NEOs 1,821  (1,237) (199) 386 
2020 PEO 1 4,051  (2,513) 1,639  3,178 
Average of Non-PEO NEOs 1,321  (636) 817  1,502 
The amounts in the Inclusion of Equity Values column are derived from the amounts set forth in the following table:
Year-End Fair Value of Equity Awards Granted During the Year that Remained Unvested as of Last Day of the Year ($)
 Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Awards ($) Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During the Year ($) Fair Value at Last Day of Prior Year of Equity Awards Forfeited During the Year of Non-PEO NEOs ($) Total ($)
Year NEOs
(in thousands)
2024 PEO 1 —  7,957  142  (137) 7,962 
PEO 2 11,274  —  —  11,274 
Average of Non-PEO NEOs 2,762  1,057  44  —  3,863 
2023 PEO 1 3,326  (1,608) (331) —  1,387 
Average of Non-PEO NEOs 614  (265) (85) (542) (278)
2022 PEO 1 4,477  121  (68) —  4,530 
Average of Non-PEO NEOs 941  39  (15) (81) 884 
2021 PEO 1 778  (1,625) (21) —  (868)
Average of Non-PEO NEOs 339  (528) (10) —  (199)
2020 PEO 1 3,083  (1,086) (359) —  1,639 
Average of Non-PEO NEOs 1,004  (83) (104) —  817 
       
Compensation Actually Paid vs. Total Shareholder Return
Description of Relationship Between Compensation Actually Paid, Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs and the Company’s cumulative TSR over the five most recently completed fiscal years. The chart also compares the Company's TSR to that of the Peer Group over the same period.
image (3).jpg
        
Compensation Actually Paid vs. Net Income
Description of Relationship Between Compensation Actually Paid and Net Loss
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs and our Net Loss during the five most recently completed fiscal years.
image (1).jpg
        
Compensation Actually Paid vs. Company Selected Measure scription of Relationship Between Compensation Actually Paid and Revenue Growth
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs and our Revenue Growth during the five most recently completed fiscal years.
image (2).jpg
        
Total Shareholder Return Vs Peer Group
Description of Relationship Between Compensation Actually Paid, Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our Non-PEO NEOs and the Company’s cumulative TSR over the five most recently completed fiscal years. The chart also compares the Company's TSR to that of the Peer Group over the same period.
image (3).jpg
        
Tabular List, Table
2024 Most Important Performance Measures
•Revenue growth
•Total shareholder return
•BLA license for Avance Nerve Graft application submission and approval
       
Total Shareholder Return Amount $ 92.12 38.18 55.79 52.38 100.06
Peer Group Total Shareholder Return Amount 118.20 118.87 113.65 126.45 126.42
Net Income (Loss) $ (9,964,000) $ (21,716,000) $ (28,948,000) $ (26,985,000) $ (23,786,000)
Company Selected Measure Amount 0.178 0.147 0.125 0.154 0.062
Measure:: 1          
Pay vs Performance Disclosure          
Name •Revenue growth        
Non-GAAP Measure Description Revenue Growth was determined to be the most important financial performance measure in 2024, 2023 and 2020 used to link Company performance to Compensation Actually Paid to our PEOs and Non-PEO NEOs. We may determine a different financial performance measure to be the most important financial performance measure in future years. Adjusted Revenue Growth was determined to be the most important financial performance measure in 2022 and 2021. We define Adjusted Revenue Growth as the annual growth of our total revenues excluding revenues from our Avive product, the market availability of which we voluntarily suspended in June 2021.        
Measure:: 2          
Pay vs Performance Disclosure          
Name •Total shareholder return        
Measure:: 3          
Pay vs Performance Disclosure          
Name •BLA license for Avance Nerve Graft application submission and approval        
PEO 1 [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 2,476,000 $ 5,535,000 $ 4,398,000 $ 5,361,000 $ 4,051,000
PEO Actually Paid Compensation Amount $ 10,438,000 2,877,000 5,382,000 289,000 3,178,000
PEO Name Karen Zaderej        
PEO 2 [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 8,848,000        
PEO Actually Paid Compensation Amount $ 12,097,000        
PEO Name Michael Dale        
PEO | PEO 1 [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 (4,045,000) (3,546,000) (4,204,000) (2,513,000)
PEO | PEO 1 [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,962,000 1,387,000 4,530,000 (868,000) 1,639,000
PEO | PEO 1 [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 3,326,000 4,477,000 778,000 3,083,000
PEO | PEO 1 [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 7,957,000 (1,608,000) 121,000 (1,625,000) (1,086,000)
PEO | PEO 1 [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 142,000 (331,000) (68,000) (21,000) (359,000)
PEO | PEO 1 [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (137,000) 0 0 0 0
PEO | PEO 2 [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (8,025,000)        
PEO | PEO 2 [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 11,274,000        
PEO | PEO 2 [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 11,274,000        
PEO | PEO 2 [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | PEO 2 [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | PEO 2 [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,382,000) (1,125,000) (974,000) (1,237,000) (636,000)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,863,000 (278,000) 884,000 (199,000) 817,000
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,762,000 614,000 941,000 339,000 1,004,000
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,057,000 (265,000) 39,000 (528,000) (83,000)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 44,000 (85,000) (15,000) (10,000) (104,000)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ (542,000) $ (81,000) $ 0 $ 0