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Scott Hutton

President, Chief Executive Officer, and Director at BIODESIX
Board
Since January 2020
Age
52 years
Education
Earned a Bachelor of Arts from the College of Health and Human Sciences, Department of Health and Kinesiology at Purdue University.
Tenure
Joined BDSX in March 2018 as Chief Operating Officer and was promoted to President, Chief Executive Officer, and Director in January 2020.

Also at BIODESIX

RHC
Robin Harper Cowie
Chief Financial Officer (CFO)
KO
Kieran O’Kane
Chief Commercial Officer

About

Scott Hutton is a seasoned executive with extensive experience in the healthcare and medical device industries, having held leadership roles that span more than a decade.

He joined BDSX in March 2018 as Chief Operating Officer before being elevated to his current role as President, Chief Executive Officer, and Director in January 2020, thereby contributing his industry expertise and strategic vision to the company.

Prior to his tenure at BDSX, he served as Senior Vice President and General Manager at Spectranetics Corp. and dedicated 16 years to Medtronic plc, where he held several key management positions and received multiple accolades for his leadership and contributions.

$BDSX Performance Under Scott Hutton

Past Roles

OrganizationRoleDate RangeDetails
Biodesix, Inc. Chief Operating Officer March 2018 – December 2019 Ended role due to promotion to President, CEO and Director in January 2020
Spectranetics Corp. Senior Vice President and General Manager, Vascular Intervention January 2017 – December 2017 N/A
Medtronic plc Vice President and General Manager, Neurosurgery April 2012 – January 2017 Oversaw approximately $1 billion Neurosurgery business unit
Aqueduct Critical Care, Inc. Observer on Board September 2014 – January 2017 N/A
Visualase, Inc. Observer on Board October 2012 – July 2014 N/A
Colorado Bioscience Association Board Member April 2011 – April 2013 N/A
Medtronic plc Senior Director of Global Marketing / Vice President and Business Leader, Surgical Navigation and Intra-Operative Imaging 2008 – 2012 N/A

External Roles

OrganizationRoleDate RangeDetails
Coalition for 21st Century Medicine Director and Board Secretary N/A Non-profit organization advocating for high-quality diagnostic testing
Eximis Surgical, Inc. Board of Directors Since February 2018 N/A

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$588,858 Annual 2024Increase effective March 1, 2024 to $608,000; total base salary earned is $588,858
All Other Compensation$1,250 Annual 2024No further breakdown provided

Performance Compensation

Data from  FY 2024

Performance Metrics

MetricDetails
Financial ObjectivesTotal Revenue (per U.S. GAAP), Lung Diagnostic Gross Margin Percentage, Total Operating Expense (excl. non-cash)
Achievement Level75.4% of the target bonus opportunity

Bonus-to-Options Award Details

Component NameDollar Amount / Share CountVesting / Payment ScheduleAdditional Details
Incentive Cash Payout$223,604 Awarded during the annual bonus period 2024Paid as cash part of the 2024 non-equity incentive plan compensation
Bonus-to-Options Award425,929 shares Fully vested on grant dateCalculated by multiplying the elected bonus cash by 3 and dividing by an average stock price of $1.57
Option Awards$852,017 (grant date fair value) Vest in 48 equal, successive monthly installments starting from Feb 8, 2024Options have an exercise price of $1.99 and expire on Feb 7, 2034; reflects part of the performance-based compensation

Summary Explanation

The 2024 performance compensation for Scott Hutton is based on specific financial objectives measured by Total Revenue, Lung Diagnostic Gross Margin Percentage, and Total Operating Expense (excl. non-cash). The overall achievement level was 75.4% of the target bonus opportunity. The performance component is delivered partly in cash ($223,604) and partly through a bonus-to-options award (425,929 shares fully vested on grant), along with separate option awards valued at $852,017 that vest over 48 months.