Marc Duey
About Marc Duey
Marc Duey (age 69) is an independent Class I director of Aprea Therapeutics, serving since May 2022; he brings four decades of commercial, data analytics, and product launch expertise in biopharma as founder/CEO of ProMetrics and founder/president of DuWest Research, and is Managing Partner at Duce Management LLC, with academic roles at West Chester University and board/association engagements in oncology and life sciences. He holds a B.S. and M.S. (University of Ottawa), MBA (Ivey Business School, Western University), and Doctor of Business Administration (Wilmington University). He is designated independent by the Board under Nasdaq rules, and serves on the Compensation Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ProMetrics, Inc. | Founder, President & CEO | 1993–2019 | Led specialty pharma patient-level data aggregation; supported dozens of product launches and >150 clients |
| DuWest Research | Founder & President | Not disclosed | International consulting for diagnostics/biotech across three continents |
| Duce Management LLC | Managing Partner | Since 2012 | Family office fund investing in biotech/digital health convergence |
| West Chester University | Adjunct Professor | Not disclosed | Business School and Pharmaceutical Product Development program |
| International House Philadelphia | Board of Trustees | Not disclosed | Governance role |
| Wistar Institute | Leadership Council Member | Not disclosed | Scientific/strategic engagement |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Public company directorships | None | N/A | “Other Public Directorships: None” |
| Various technology companies | Board member | Not disclosed | Company indicates service on boards of several technology companies (unspecified) |
Board Governance
- Independence: Board determined Duey is independent under Nasdaq rules; independent directors meet in executive session regularly .
- Committee assignments: Member, Compensation Committee (Chair: Richard Peters). No Audit/NCGC/R&D roles .
- Board leadership: Separate Chair (Richard Peters) and CEO (Oren Gilad), with 8 of 9 directors independent .
- Attendance and engagement: Board met 4 times in 2024; each director attended ≥75% of Board and committee meetings; all directors attended 2024 annual meeting .
| 2024 Committee Membership & Meetings | Audit | Compensation | NCGC | R&D |
|---|---|---|---|---|
| Marc Duey membership | — | Member | — | — |
| 2024 meetings | 4 | 1 | 0 | 5 |
- Related-party transactions: Company reports no related person transactions ≥$120,000 involving directors/officers in 2024–2025, beyond ordinary compensation .
- Anti-hedging/pledging: Insider trading policy prohibits hedging, short sales, and pledging/margin accounts .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Annual cash retainer | $40,000 (program term) | $40,000 (program term) |
| Committee member retainer (Compensation Committee) | $6,000 (program term) | $6,000 (program term) |
| Committee chair fees | Not applicable (not a chair) | Not applicable (not a chair) |
| Fees earned (actual, Duey) | $46,000 | $46,000 |
Performance Compensation
| Equity Element | 2023 Duey (Grant-date fair value) | 2024 Duey (Grant-date fair value) | Notes |
|---|---|---|---|
| Option awards | $5,400 | $12,178 | Annual equity calibrated below target; 2024 approximate annual equity retainer value $16,431 across options+RSUs |
| RSU awards | $1,825 | $4,253 | RSUs typically vest on first anniversary for directors; options vest in 3 equal annual installments (initial grants) |
| Outstanding at 12/31 (counts) | Options: 2,000; RSUs: 500 | Options: 4,185; RSUs: 1,045 |
- Vesting schedules and triggers:
- Director annual equity: options (80%) and RSUs (20%), each vesting on first anniversary of grant; annual target up to $150,000, but calibrated lower due to share usage/trading price constraints (2024 approx. $16,431) .
- Initial director option grants: vest in three equal annual installments, subject to continued board service .
Other Directorships & Interlocks
| Director/Entity | Interlock/Role | Potential Conflict |
|---|---|---|
| Marc Duey | None public company boards | None disclosed |
| Compensation Committee interlocks | None; no officer service by committee members; no cross-committee service by company executives on other companies |
Expertise & Qualifications
- Commercial analytics and launch: Founded ProMetrics; supported dozens of oncology launches and >150 clients .
- Strategy and international consulting: Led DuWest Research across three continents .
- Investment/early-stage biotech: Managing Partner, Duce Management LLC since 2012 .
- Academic/industry engagement: Adjunct professor (WCU), Board of Trustees (International House Philadelphia), Wistar Institute leadership role; member of ASCO, AACR, AAPS, LES .
- Education: B.S./M.S. (University of Ottawa); MBA (Ivey Business School); DBA (Wilmington University) .
Equity Ownership
| Metric | 2024 (as of 4/23/2024) | 2025 (as of 4/10/2025) |
|---|---|---|
| Shares beneficially owned (total) | 213,315 | 239,243 |
| Ownership % of outstanding | — | 4.33% |
| Breakdown (direct + family) | 208,378 (Duey) + 602 (wife) + 300 (adult child) + 4,035 options exercisable within 60 days | 232,306 (Duey) + 602 (wife) + 300 (adult child) + 6,035 options exercisable within 60 days |
| Options/RSUs outstanding (director awards) | Options 2,000; RSUs 500 (year-end counts) | Options 4,185; RSUs 1,045 (year-end counts) |
| Shares pledged as collateral | Prohibited by company policy | Prohibited by company policy |
Insider Trades
| Date | Form | Transaction | Shares | Note |
|---|---|---|---|---|
| 10/25/2024 (filed) | Form 4 | Disposition | 6,462 | Filing was 3 days late for reporting this disposition |
Governance Assessment
-
Strengths
- Independence and focused committee role: Duey is independent and serves on Compensation Committee; Board composition strongly independent (8/9), with separate Chair/CEO structure .
- Attendance and engagement: Met minimum engagement thresholds (≥75% attendance); Compensation Committee met in 2024; governance structures and charters are in place .
- Alignment: Material personal ownership (4.33% in 2025) indicates skin-in-the-game; anti-hedging/pledging policy strengthens alignment .
- No related-party transactions: No reportable related person transactions involving Duey in 2024–2025 .
-
Watch items / RED FLAGS
- Late Section 16 filing: One Form 4 filed 3 days late for a 6,462-share disposition (administrative lapse; limited severity but a compliance point to monitor) .
- Equity retainer calibration: Annual director equity grant significantly reduced vs target due to share/trading constraints (2014 approx $16,431 vs target up to $150k), which may limit ongoing equity-based alignment if sustained; however Duey’s separate holdings are substantial .
-
Implications
- Duey brings deep commercialization/data expertise relevant to capital allocation and incentive design; his Compensation Committee role and sizable personal stake align him with shareholder outcomes .
- Compliance processes should ensure timely insider reporting to avoid recurring administrative risks; overall governance policies (anti-hedging/pledging; committee independence) remain investor-friendly .