Scott Wunsch
About Scott Wunsch
Scott M. Wunsch, 48, serves as CEO of Trinity (Blade’s logistics and donor services subsidiary) since May 2024, after joining Trinity in 2018 and rising through COO and VP of Strategy roles. He holds a B.A. in Organizational Management (Whitworth University) and an M.P.A. in Public Health (Grand Canyon University), with 13 years as VP of Operations at LifeCenter Northwest (an OPO covering AK/WA/ID/MT) before Trinity, bringing deep transplant logistics experience to Blade’s medical segment . Company performance in 2024 included Blade’s first positive Adjusted EBITDA ($1.205M) versus 2023’s -$16.6M, a key pay-for-performance goal; the company also reported two-year TSR improvement (value of a $100 investment: $98.60 in 2023 to $118.72 in 2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LifeCenter Northwest (OPO: Alaska, Washington, Northern Idaho, Montana) | Vice President of Operations | 2005–2018 | Led complex organ logistics across challenging geographies; managed aviation duty-time constraints and multi-party coordination to improve transplant throughput . |
| Trinity (Blade subsidiary) | Chief Operating Officer; VP of Strategy | Sep 2018–May 2024 | Built donor logistics infrastructure and commercial partnership that enabled rapid scaling; Trinity was acquired by Blade in 2021 . |
| Trinity (Blade subsidiary) | Chief Executive Officer | May 2024–Present | Oversees national “one-call” transplant logistics model; footprint scaled to 30+ owned/dedicated aircraft across 20 bases and 50+ vehicles across 14 hubs, driving efficiency and cost savings for transplant partners . |
External Roles
No public company directorships or external board roles disclosed for Wunsch .
Fixed Compensation
Not disclosed for Scott Wunsch. The company’s proxy identifies three Named Executive Officers (CEO, President/GC, CFO) for detailed pay tables, and Wunsch is not among them .
Performance Compensation
Blade’s executive programs (as disclosed for NEOs) are heavily performance-based, anchored by a 2024 cash STIP on Adjusted EBITDA and multi-year PSUs with profitability, cash flow, and commercialization milestones. While Wunsch’s specific targets are not disclosed, the program design is as follows:
| Incentive | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| 2024 STIP (cash) | Adjusted EBITDA | 100% | $500,000 | $1,205,000 | 108% of target (1.08x) | Paid Q1–Q2 2025 per plan rules . |
| 2024 PSU tranche | Adjusted EBITDA (five levels) | 70% | Multi-level thresholds over 4-year period | FY2024 positive EBITDA achieved | 20% of granted PSUs vested upon certification Mar 6, 2025 | Quarterly measurement; vest on Compensation Committee certification, service condition applies . |
| 2024 PSU tranche | Free Cash Flow | 15% | Trailing four-quarter FCF, defined to burden depreciation but exclude capex on aircraft/vehicles | Not disclosed | Not disclosed | Quarterly measurement; same certification/vesting mechanics . |
| 2024 PSU tranche | EVA commercialization milestone | 15% | Specific commercial milestone tied to eventual eVTOL transition | Not disclosed | Not disclosed | If unachieved by end-2026, reallocated pro rata to remaining measures . |
Equity Ownership & Alignment
- Stock ownership guidelines: executive officers must hold stock valued at 1x annual base salary; compliance is required within five years and maintained thereafter; as of Dec 31, 2024, none of the company’s executive officers or directors were out of compliance .
- Anti-hedging and anti-pledging: directors, officers, and employees are prohibited from hedging, short-selling, margin purchases, borrowing against accounts holding Blade stock, or pledging Blade securities as collateral .
- Section 16 reporting and grants: the company disclosed that current officer Scott Wunsch filed a late Form 4/A and a late Form 4 on March 17, 2025 to report RSU grants made on November 7, 2024 and February 7, 2025; share counts for these grants are not included in the proxy .
- Beneficial ownership: Wunsch is not individually listed in the security ownership table; aggregate ownership for all directors and executive officers is provided, but Wunsch’s specific share and option holdings are not disclosed .
Employment Terms
- Role and tenure: Trinity CEO since May 2024; executive officer of Blade (subsidiary leader) .
- Severance and change-in-control: the Blade Change in Control Severance Plan terms (multiples of salary, bonus proration, COBRA coverage, and accelerated vesting for time-based awards) are disclosed for NEOs; participation by Wunsch is not specified in the proxy .
- Clawback policy: SEC/Nasdaq-compliant clawback requiring repayment of incentive compensation upon restatement .
- Non-compete / non-solicit: the standard at-will employment agreement with 12-month non-compete and non-solicit is disclosed for NEOs; applicability to Wunsch is not specified .
Company Performance Reference
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Adjusted EBITDA ($USD) | -$16.6M (target set +$17M vs 2023) | $1.205M |
| Net Loss ($USD) | $(56.076)M | $(27.307)M |
| TSR Value of $100 Investment | $98.60 | $118.72 |
Investment Implications
- Alignment and incentives: Blade’s executive program ties payouts to profitability (Adjusted EBITDA) and FCF, with PSUs measured quarterly over a four-year period; the 2024 EBITDA threshold vest confirms a stronger link between realized operating improvements and equity vesting .
- Execution strengths: Wunsch’s transplant logistics track record and scaling of Trinity’s footprint (30+ aircraft, 20 bases, 50+ vehicles; “one-call” model) support margin-accretive, contract-driven growth in the medical segment, a key driver of Blade’s EBITDA trajectory .
- Watch items: lack of disclosed individual compensation and ownership detail limits pay-for-performance assessment at the officer level; late Section 16 filings (RSU grants reported March 17, 2025) indicate a minor process control risk to monitor, especially around vesting windows and potential insider selling pressure .
- Governance risk mitigants: anti-hedging/anti-pledging policy and stock ownership guidelines reduce misalignment risk; a compliant clawback framework and programmatic PSU design with rigorous measures temper compensation inflation concerns .