Katrina Church
About Katrina Church
Katrina Church is Senior Vice President and Chief Compliance Officer at Bioventus (BVS), serving since August 2020; she was 63 years old as of April 22, 2025, per the company’s executive officer roster . She holds a J.D. from New York University School of Law and a B.A. in Comparative Literature (magna cum laude) from Duke University, and was recognized in 2020 with the Women in Compliance Award for “Most Impactful Compliance Training Programme of the Year” and the Brandon Hall 2020 Gold Medal for Excellence in Training . For context on company performance during her tenure, Bioventus reported Q3 2025 net sales of $138.7M and Adjusted EBITDA of $26.6M, with 9M 2025 net sales of $410.2M and Adjusted EBITDA of $79.6M, reflecting YoY Adjusted EBITDA growth in Q3 and essentially flat performance for 9M; management’s 2024/2025 AIP metrics tied to cash incentives included Global Revenue, Adjusted Global EBITDA, Quality, and Cash Flow, with 2024 achievement assessed at 153.6% for NEOs .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Bioventus | SVP & Chief Compliance Officer | Aug 2020 – present | Executive officer responsible for compliance oversight; role sits under board-level Compliance, Ethics and Culture Committee oversight of legal, compliance, and regulatory risks . |
| Merz Pharma GmbH & Co KGaA (Merz Group) | Global Compliance Officer | Mar 2015 – Aug 2020 | Led global compliance; recognized in 2020 for impactful compliance training programs . |
| Connetics Corporation | EVP & General Counsel | Jun 1998 – Dec 2008 | Senior legal leadership at specialty pharma, later acquired by Stiefel Laboratories in 2008 . |
| Hopkins & Carley | Attorney | Not disclosed | Began legal career in private practice . |
External Roles
- No external public-company board roles are mentioned in Ms. Church’s executive biography in the company’s proxy statements .
Fixed Compensation
- Ms. Church is an executive officer but not a Named Executive Officer (NEO); thus, her base salary, target bonus, and actual bonus are not individually disclosed in the Summary Compensation Tables, which cover CEO, CFO, General Counsel and a former interim CEO for 2024 .
Performance Compensation
Company AIP structure (context for executives; Church’s specific target not disclosed):
| Metric | Weighting | 2024 Achievement | Payout mechanics |
|---|---|---|---|
| Global Revenue | Not disclosed | Included in composite result | Possible payouts ranged from 50% (minimum), 100% (target), to 200% (maximum) of objective business measures . |
| Adjusted Global EBITDA | Not disclosed | Included in composite result | See above . |
| Quality | Not disclosed | Included in composite result | See above . |
| Cash Flow | Not disclosed | Included in composite result | See above . |
| Corporate achievement result | — | 153.6% (for NEOs) | Applied to 2024 short‑term cash incentives for NEOs; Church’s individual target/payout not disclosed . |
Notes:
- Performance metrics for 2024 AIP were corporate measures; named executive officers’ targets were disclosed (CEO 100%, CFO 60%, GC 50%), but Church’s specific target percentage was not disclosed .
Equity Ownership & Alignment
Insider transactions (as disclosed in the company’s Section 16(a) note):
| Date | Transaction type | Instrument | Shares | Notes/Source |
|---|---|---|---|---|
| 2024-03-15 | Sale | Class A common | 1,217 | Reported on Form 4 filed 2024-03-20 . |
| 2024-03-15 | Grants (2 separate RSU awards) | RSUs | 44,375 | Grants reported on Form 4 filed 2024-03-22 . |
| 2024-03-15 | Option grant | Options | 40,000 | Option grant reported on Form 4 filed 2024-03-22 . |
| 2024-06-17 | Sale | Class A common | 8,759 | Reported on Form 4 filed 2024-06-21 . |
Policies and alignment controls:
- Anti-hedging and insider trading policy prohibits hedging transactions (e.g., collars, swaps, exchange funds) by directors, officers, and employees, including entities they control .
- Compensation recovery (clawback) policy adopted September 2023 requires recovery of incentive compensation upon a required restatement, on a no-fault basis, covering current/former executive officers for the prior three completed fiscal years .
- Equity plans outstanding and available capacity: as of 12/31/2024 there were 7,039,956 securities to be issued upon exercise/settlement of outstanding awards and 10,742,842 shares available for future issuance across equity plans (company-wide context) .
Notes:
- The proxy’s beneficial ownership table itemizes holdings for directors and NEOs; Ms. Church, while an executive officer, is not individually listed in that table (beneficial ownership percentages for her are not disclosed) .
Employment Terms
| Term | Detail |
|---|---|
| Role start at Bioventus | Has served as Chief Compliance Officer since August 2020 . |
| Employment agreement | No individual employment agreement terms for Ms. Church are disclosed in the proxy; 2025 proxy details agreements for the CEO, CFO, and GC only . |
| Severance | Not disclosed for Ms. Church; CEO/CFO/GC severance and change-in-control terms are enumerated separately (not applicable to Church based on disclosure) . |
| Restrictive covenants | Proxy lists post-employment restrictive covenants for CEO, CFO, GC, and former interim CEO; no specific restrictive covenant disclosure for Ms. Church . |
| Clawback | Company-wide compensation recovery policy applies to current and former executive officers (includes Church as an executive officer) . |
| Anti-hedging/insider trading | Company-wide policy applies to officers (includes Church) . |
Performance & Track Record (Company context during tenure)
| Metric | Period | Value |
|---|---|---|
| Net sales ($ thousands) | Q3 2024 | $138,964 |
| Net sales ($ thousands) | Q3 2025 | $138,651 |
| Adjusted EBITDA ($ thousands) | Q3 2024 | $23,557 |
| Adjusted EBITDA ($ thousands) | Q3 2025 | $26,604 |
| Net sales ($ thousands) | 9M 2024 | $419,638 |
| Net sales ($ thousands) | 9M 2025 | $410,187 |
| Adjusted EBITDA ($ thousands) | 9M 2024 | $80,632 |
| Adjusted EBITDA ($ thousands) | 9M 2025 | $79,567 |
Additional context:
- 2025 YTD equity program introduced PRSUs with 3‑year cliff vesting tied to relative TSR versus a Russell 2000 Medical Equipment peer set; availability by role not specified in proxy/10‑Q, and no PRSU grants to Ms. Church are disclosed .
Investment Implications
- Transparency and pay-for-performance: As a non-NEO executive, Ms. Church’s cash compensation terms (base, target bonus, payout) are not individually disclosed, limiting direct pay-for-performance assessment; however, the company’s AIP ties incentives to Global Revenue, Adjusted Global EBITDA, Quality, and Cash Flow, with strong 2024 corporate achievement at 153.6% for NEOs, indicating emphasis on operating performance in incentive design .
- Equity alignment and potential selling pressure: Ms. Church received meaningful equity on 2024-03-15 (44,375 RSUs and 40,000 options) and sold modest amounts of stock on 2024-03-15 (1,217 shares) and 2024-06-17 (8,759 shares); these transactions suggest ongoing equity participation with limited near-term selling pressure relative to grant sizes, though vesting schedules for her grants were not disclosed in the proxy excerpts provided .
- Risk controls: Company-wide anti-hedging policy and a no-fault clawback reduce misalignment/agency risk; no pledging permissions are described in the cited proxy sections, and insider trading policy restricts hedging instruments, supporting alignment with shareholders .
- Retention risk: No individual severance or change-in-control protections are disclosed for Ms. Church (in contrast to CEO/CFO/GC), which could imply less contractual retention protection; however, ongoing equity grants may provide retention incentives; lack of disclosed restrictive covenants for Church limits insight into post-employment constraints .
- Trading signals: The 2024 sales were relatively small and were reported via Form 4 as noted in the company’s Section 16(a) discussion; absent patterns of concentrated selling, these look like routine transactions rather than a strong negative signal .