Maggie Yuen
About Maggie Yuen
Independent director since June 2021 (age 53) with deep finance and medical device operating experience; currently designated an “audit committee financial expert.” She is Chief Financial Officer at Penumbra, Inc. (since Dec 2019), and previously held divisional CFO and senior finance roles at Thermo Fisher Scientific and Mirion Technologies, with earlier positions at Boston Scientific, GLU Mobile, Lifescan, Picker International, Rockwell Automation, and Eaton . Education: B.A.Sc. in Accounting, Master of Accountancy, and MBA from Case Western Reserve University . The Board has affirmatively determined she is independent under NASDAQ standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Thermo Fisher Scientific Inc. (Genetic Science Division) | Vice President of Finance; Divisional CFO | 2016–2019 | Financial leadership in life sciences; divisional P&L oversight |
| Mirion Technologies | Chief Financial Officer | 2014–2016 | CFO; capital allocation and controls |
| Boston Scientific; GLU Mobile; Lifescan Inc.; Picker International; Rockwell Automation; Eaton | Various roles | Not specified | Progressive finance/operations roles in medtech and industrials |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Penumbra, Inc. | Chief Financial Officer | Dec 2019–present | Public-company CFO; SOX/internal control oversight; capital markets |
Board Governance
- Committee assignments: Audit Committee member; Board-designated “audit committee financial expert” .
- Chair roles: None; Audit Chair is Sven A. Wehrwein .
- Independence: Board affirmed independence (NASDAQ) .
- Attendance: All directors attended at least 75% of aggregate Board and committee meetings in 2024 and attended the 2024 Annual Meeting .
- Committee activity (2024 meetings): Audit (6), Compensation (9), Compliance, Quality & Risk (4), Nominating & Corporate Governance (4), Strategy (2) .
- Majority voting standard for director elections in uncontested meetings .
- Executive sessions: Non-management directors meet in regularly scheduled executive sessions .
Fixed Compensation
- Director cash retainer structure:
- Annual cash retainer: $50,000
- Committee membership retainer – Audit: $10,000; Audit Chair additional $20,000 (includes membership)
- 2024 cash received by Ms. Yuen: $60,000 (annual retainer + Audit membership retainer)
| Component | Amount ($) | Notes |
|---|---|---|
| Annual Cash Retainer | 50,000 | Non-employee director retainer |
| Audit Committee Membership | 10,000 | Member retainer |
| Total 2024 Cash Fees | 60,000 | Matches “Fees Earned or Paid in Cash” |
Performance Compensation
- Equity retainer: Annual stock retainer of $175,000 granted as restricted stock on the Annual Meeting date; vests in full on the earlier of one year after grant or the next annual meeting at least 50 weeks after the prior year’s meeting .
- 2024 stock awards to Ms. Yuen: $174,996 aggregate grant-date fair value (restricted stock) .
- Performance metrics: Director equity grants are time-based restricted stock; no director-specific performance metrics apply (performance metrics in the proxy are for executive PSAs/PSUs, not directors) .
| Grant Type | Grant Date Convention | Award Value ($) | Vesting |
|---|---|---|---|
| Annual Restricted Stock | Date of Annual Meeting | 174,996 (2024) | Full vest on earlier of 1-year anniversary or next Annual Meeting ≥50 weeks after prior year’s meeting |
Other Directorships & Interlocks
- Other public company boards: None disclosed for Ms. Yuen .
- Compensation committee interlocks: None—during 2024, no Compensation Committee member had Item 404 relationships; no Company executive served on another company’s board/comp committee that employed any member of AtriCure’s Compensation Committee or Board .
| Category | Detail |
|---|---|
| Other Public Boards | None disclosed |
| Interlocks (Comp Committee/Board) | None disclosed for 2024 |
Expertise & Qualifications
- Financial expertise: Board-designated audit committee financial expert; extensive SOX/internal controls and public-company finance leadership .
- Industry experience: 25+ years across manufacturing, medical devices, and life sciences; senior roles at Thermo Fisher, Mirion, Boston Scientific .
- Education: B.A.Sc. (Accounting), Master of Accountancy, MBA (Case Western Reserve University) .
Equity Ownership
- Beneficial ownership: 8,970 shares; <1% of class; no options exercisable within 60 days disclosed .
- Stock ownership guidelines: Non-employee directors must hold >3x annual cash retainer within 3 years (3×$50,000 = $150,000) .
- Policy safeguards: Hedging and pledging prohibited for directors/officers; no margin pledging permitted .
| Metric | Value |
|---|---|
| Shares Beneficially Owned | 8,970 |
| Options Exercisable ≤60 Days | — |
| Percent of Class | <1% (asterisk per proxy table) |
| Guideline Requirement | >3× $50,000 cash retainer = $150,000 |
| Record-Date Share Price | $34.37 (Mar 27, 2025) |
| Indicative Holding Value | ~$308,524 (8,970 × $34.37; derived from ) |
Based on the record-date price and disclosed share count, Ms. Yuen’s indicative holding value exceeds the >3× retainer guideline threshold .
Governance Assessment
- Board effectiveness: Ms. Yuen enhances Audit Committee rigor as a designated financial expert, aligning with robust committee oversight of financial reporting, ICFR, and cybersecurity risk in financial contexts .
- Independence & engagement: Independent director with Audit membership; attended ≥75% of meetings in 2024 and the Annual Meeting—no attendance red flags .
- Incentive alignment: Director equity is time-based RS, vesting over ~1 year, encouraging continuity but without performance-based metrics; combined with ownership guideline and hedging/pledging prohibitions, alignment is adequate for director role .
- Conflicts/related party: No Item 404 related-party transactions disclosed for Board/Comp Committee members in 2024; Audit Committee reviews potential related-party transactions per charter .
- Shareholder signals: Majority voting standard adopted; Say-on-Pay support at 84.6% in 2024 indicates constructive investor sentiment toward compensation practices, contributing to overall governance confidence environment .
RED FLAGS
- None disclosed related to Ms. Yuen (no hedging/pledging; no related-party transactions; independence affirmed; attendance ≥75%) .
Say-on-Pay & Shareholder Feedback
- 2024 Say-on-Pay approval: 84.6% of votes cast in favor; Compensation Committee engages with investors and uses independent consultant benchmarking .
Notes on Committee Structure and Consultant Independence
- Independent Compensation Committee; engages Korn Ferry for peer benchmarking and pay guidance; peer group includes Penumbra among relevant medtech peers (context for market benchmarking) .