Michael Brown
Under Secretary for Acquisition & Sustainment
Observations
  • Millionaire
  • Lobbyist
Estimated Net Worth
  • estimated net worth
    $23.5 M - $76.8 M
Salary
  • salary
    Unknown

Financial Disclosure Details - OGE Form 278e (02/24/2021)

Positions Held Outside United States Government

#
Organization
City
Position
To
1
Mountain View, California
Director
Present
2
Palo Alto, California
Chairman & Secretary
Present
3
Boston, Massachusetts
Trustee
Present
4
Palo Alto, California
Co-Trustee
Present

Employment Assets & Income and Retirement Accounts

#
Description
Value
Income Type
Income Amount
1
Asimily Corporation (private company); preferred stock owned
$100,001 - $250,000
None (or less than $201)
2
SEP/Traditional IRA
2.1
SPDR S&P 500 ETF Trust (SPY)
$100,001 - $250,000
None (or less than $201)
2.2
American Funds American High-Income Trust Class A Shares (AHITX)
$100,001 - $250,000
None (or less than $201)
2.3
American Funds American New Perspective (ANWPX)
$250,001 - $500,000
None (or less than $201)
2.4
Fidelity Advisor Limited Term Bond Fund Class A Shares (FDIAX)
$100,001 - $250,000
None (or less than $201)
2.5
Fidelity Extended Market Index Fund (FSMAX)
$100,001 - $250,000
None (or less than $201)
2.6
PIMCO Income Fund Class A Shares (PONAX)
$100,001 - $250,000
None (or less than $201)
3
Rollover IRA
3.1
American Funds American Balanced Fund Class A Shares (ABALX)
$250,001 - $500,000
None (or less than $201)

Employment Agreements and Arrangements

#
Employer Or Party
City
Status And Terms
Date
1
Mountain View, California
The 4-year vesting schedule means a grant of 225,900 options will be fully vested in June, 2021. Currently, 44/48 of this grant are vested options. I will forfeit my unvested stock options upon separation. I will retain my vested stock options.
6/2017

Sources of Compensation Exceeding $5,000 in a Year

#
Source
City
Duties
1
Mountain View, California
Board Director

Spouse's Employment Assets & Income and Retirement Accounts

#
Description
Value
Type
Amount
1
IRA
1.1
Cisco Systems, Inc. (CSCO)
$100,001 - $250,000
None (or less than $201)
1.2
Fidelity Balanced Fund (FBALX)
$50,001 - $100,000
None (or less than $201)
1.3
Fidelity Emerging Markets Fund (FEMKX)
$15,001 - $50,000
None (or less than $201)
1.4
Fidelity Magellan Fund (FMAGX)
$250,001 - $500,000
None (or less than $201)
1.5
T Rowe Price International Discovery Fund (PRIDX)
$15,001 - $50,000
None (or less than $201)
1.6
T Rowe Price International Stock Fund (PRITX)
$15,001 - $50,000
None (or less than $201)
1.7
T Rowe Price Mid-Cap Growth Fund, Inc (RPMGX)
$50,001 - $100,000
None (or less than $201)
1.8
T Rowe Price New Asia Fund (PRASX)
$15,001 - $50,000
None (or less than $201)
1.9
T Rowe Price Value Fund, Inc (TRVLX)
$15,001 - $50,000
None (or less than $201)

Other Assets and Income

#
Description
Value
Type
Amount
1
Vestaboard (private company) preferred stock
$1,001 - $15,000
None (or less than $201)
2
Goldman Sachs (GS.J) Preferred Stock
$50,001 - $100,000
Dividends
$2,501 - $5,000
3
Goldman Sachs GS.A Preferred Stock
$50,001 - $100,000
Dividends
$1,001 - $2,500
4
JPMorgan JPM.D Preferred Stock
$50,001 - $100,000
Dividends
$2,501 - $5,000
5
Madison Reed Preferred Stock
$50,001 - $100,000
None (or less than $201)
6
ISHARES MSCI USA QLTY FAC (QUAL)
$500,001 - $1,000,000
$5,001 - $15,000
7
SPDR Dow Jones Industrial Average ETF Trust (DIA)
$1,000,001 - $5,000,000
$15,001 - $50,000
8
SPDR S&P 500 ETF Trust (SPY)
$1,000,001 - $5,000,000
$15,001 - $50,000
9
Vanguard FTSE All-World ex US Index Fund ETF Shares (VEU)
$250,001 - $500,000
$5,001 - $15,000
10
Norwalk La Mirada California Zero Coupon Bond
$250,001 - $500,000
None (or less than $201)

Transactions

#
Description
Type
Date
Amount
Nothing reported in this section

Liabilities

#
Creditor
Amount
Incurred
Term
1
Chase VISA
$10,001 - $15,000
2021
Revolving

Gifts and Travel Reimbursements

#
Source Name
City
Description
Value
Nothing reported in this section

Endnotes

Section
#
Description
1
1
My role as a Director of Asimily pre-dates my role as the Director of the Defense Innovation Unit but is completely unrelated. Asimily is a venture-backed startup whose business is a software platform for risk assessment of connected devices for hospitals and clinics. Asimily has no federal customers and is completely un-related to DoD.
1
2
My wife and I are officers of the Bockus Brown Family Foundation which supports our philanthropic interests.
1
3
Uncompensated position
2
1
I'm an investor and Director at Asimily, a risk assessment platform company for connected medical devices. Asimily has no federal customers. This relationship predates my government service.
2
4
Asimily stock options were awarded in my capacity as an advisor to the CEO and began vesting in June, 2017 on a four-year vesting schedule with 1/48 of those shares vesting monthly. As of February 24, 2021, the value of vested stock options are the 44/48 months for which I have vested options x the 225,900 option grant. These are valued at the difference between the option strike price and the current 409A Fair Market Value of Asimily's common stock.
2
5
I received a grant of 225,900 options to purchase common stock in June, 2017. As of this filing, I vested 44/48 of this option grant or 207,075 shares. The unvested 18,825 shares has a value of $0 since they have not been earned. The strike price is $.01 and the Board approved 409A Fair Market Value of these options as determined by independent audit is $.21. Unvested stock options expire 12 months after their vesting date if unexercised.
6
1
Vestaboard is a private company focused on digital signage.
6
5
Madison Reed is an organic, safe hair color business aimed at consumers.
6
160
Lending Club is a platform that connects individual lenders and borrowers. My investment is a loan portfolio which Lending Club manages automatically according to risk parameters I set. Returns are interest payments aggregated for the portfolio of loans for the year. I have no knowledge of the individual borrowers.
6
161
Filer is a limited partner in the Disruptive Innovation Fund, a private equity fund comprised of the following assets: Artemis--a software solutions business targeted at insurance & financial services CSA Medical--develops an interventional liquid nitrogen spray cryotherapy Gusto--payroll software for small business BioLite--enables people to power themselves off-grid incl. lighting and camp stoves LeasePilot--scalable digital solution for commercial real estate licensing, InnRoad--property management and hotel reservation system Astoria Solutions--digital technologies to enable workflow management in hazardous environments The EIF category for each underlying asset is N/A. I have no knowledge of each holding's value in the fund.

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