Mark Singleton
About Mark Singleton
Mark Singleton is Senior Vice President and Chief Financial Officer of Bioventus (since March 2022) and is 56 years old; he holds a B.S. from Purdue University and an MBA from Duke University’s Fuqua School of Business . In 2024, Bioventus delivered revenue of $573.3M versus $512.3M in 2023 and improved net loss to $33.5M from $156.2M; EBITDA rose to $58.98M from $28.85M, reflecting improved profitability during Singleton’s tenure* [FY 2024 Revenues: GetFinancials; FY 2023 Revenues: GetFinancials; FY 2024 Net Income: GetFinancials; FY 2023 Net Income: GetFinancials; FY 2024 EBITDA: GetFinancials; FY 2023 EBITDA: GetFinancials]. Management’s 2025 proxy letter highlighted four consecutive quarters of significant revenue growth and improved cash flow in 2024 .
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $512.1M [GetFinancials]* | $512.3M [GetFinancials]* | $573.3M [GetFinancials]* |
| EBITDA ($USD) | $(4.68)M [GetFinancials]* | $28.85M [GetFinancials]* | $58.98M [GetFinancials]* |
| Net Income ($USD) | $(158.7)M [GetFinancials]* | $(156.2)M [GetFinancials]* | $(33.5)M [GetFinancials]* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Bioventus | SVP & CFO | Mar 2022–present | Finance leadership over corporate performance |
| Teleflex | VP Finance, Americas Strategic BUs | Feb 2021–Mar 2022 | BU finance leadership in medical devices |
| Teleflex | VP Finance, Vascular SBU | 2014–2020 | BU finance leadership in vascular devices |
| Lenovo | Executive Director, Think Business Group CFO | 2013–2014 | Regional/business unit CFO roles |
| Lenovo | Executive Director, Western Europe CFO | 2011–2012 | Regional CFO |
| Lenovo | Executive Director, North America CFO | 2007–2011 | Regional CFO |
| Lenovo | Director, U.S. Finance Manager | 2005–2007 | U.S. finance management |
External Roles
No external public company directorships or committee roles disclosed for Singleton in the proxy .
Fixed Compensation
| Item (2024) | Amount |
|---|---|
| Base salary earned | $473,825 |
| Base salary rate (as of 12/31/2024) | $478,400 |
| Target bonus % (AIP) | 60% of eligible earnings |
| Annual performance-based cash incentive (AIP payout) | $436,677 |
| Discretionary award (AIP) | $50,000 |
| All other compensation | $23,099 |
Multi-year summary (named executive compensation):
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | $452,438 | $473,825 |
| Bonus ($) | $82,013 | $50,000 |
| Stock Awards ($) | $253,140 | $669,325 |
| Option Awards ($) | $65,048 | $434,750 |
| Non-Equity Incentive ($) | $184,001 | $436,677 |
| All Other Comp ($) | $21,593 | $23,099 |
| Total ($) | $1,058,233 | $2,087,676 |
Performance Compensation
- Annual Incentive Plan metrics: Global Revenue, Adjusted Global EBITDA, Quality, and Cash Flow .
- 2024 achievement: 153.6% of target for objective business performance measures; plus $50,000 discretionary award to Singleton .
| Metric (AIP 2024) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Global Revenue | Not disclosed | Not disclosed | Not disclosed | Part of 153.6% achievement | Cash in year earned |
| Adjusted Global EBITDA | Not disclosed | Not disclosed | Not disclosed | Part of 153.6% achievement | Cash in year earned |
| Quality | Not disclosed | Not disclosed | Not disclosed | Part of 153.6% achievement | Cash in year earned |
| Cash Flow | Not disclosed | Not disclosed | Not disclosed | Part of 153.6% achievement | Cash in year earned |
| Discretionary Award | N/A | N/A | N/A | $50,000 | Cash |
Equity-based compensation grants in 2024: RSUs $669,325 and options $434,750 grant date fair values .
Equity Ownership & Alignment
- Beneficial ownership (as of April 7, 2025): 290,513 Class A shares (<1%), including 131,963 owned, 13,000 RSUs vesting within 60 days, and 145,550 options exercisable or vesting within 60 days .
- Prior year ownership (as of April 15, 2024): 222,417 Class A shares (<1%) .
- Anti-hedging policy prohibits hedging transactions for directors, officers, and employees; pledging not disclosed .
| Date | Shares Beneficially Owned | % of Class A | Notes |
|---|---|---|---|
| Apr 15, 2024 | 222,417 | <1% | Per DEF 14A 2024 |
| Apr 7, 2025 | 290,513 | <1% | Includes 13,000 RSUs vesting within 60 days and 145,550 options exercisable or vesting within 60 days |
Outstanding equity awards (as of Dec 31, 2024):
| Grant Date | Options Exercisable (#) | Options Unexercisable (#) | Exercise Price ($) | Expiration | Unvested RSUs (#) | RSU Market Value ($) |
|---|---|---|---|---|---|---|
| 04/04/2022 | 111,600 | 111,600 | 13.29 | 04/03/2032 | 37,250 | $391,125 |
| 04/10/2023 | 33,950 | 101,850 | 1.16 | 04/10/2033 | 39,000 | $409,500 |
| 03/15/2024 | — | 181,980 | 5.45 | 03/15/2034 | 80,610 | $846,405 |
Vesting schedules:
- 2024 grant: four equal installments on each anniversary of Feb 15, 2024 .
- 2023 grant: four equal annual installments beginning on the first anniversary of Apr 10, 2023 .
- 2022 grant: four equal annual installments beginning on the first anniversary of Mar 21, 2022 .
Insider transactions (Form 4 references in proxy):
| Date | Type | Quantity |
|---|---|---|
| Mar 15, 2024 | Acquisition: two RSU grants (aggregate 122,812 shares) and 181,980 options | |
| Jun 17, 2024 | Sale: 13,753 shares |
Stock ownership guidelines (executives): Not disclosed in the proxy; director compensation policy disclosed separately .
Employment Terms
| Provision | Standard Termination (without cause / good reason) | Change-in-Control (within 24 months, without cause / good reason) |
|---|---|---|
| Cash severance | 12 months’ base salary | 18 months’ base salary (lump sum within 60 days) |
| Annual incentive | 100% of target (paid over 12 months) | 150% of target (lump sum within 60 days) |
| COBRA | 12 months of premiums | 18 months of premiums (lump sum within 60 days) |
| Equity | No acceleration beyond plan terms | Full vesting acceleration of all equity awards |
| Non-compete / non-solicit | 12 months | 18 months if CoC severance received |
| Clawback policy | Dodd-Frank Section 10D-compliant compensation recovery policy (no-fault restatement-based recoupment) | |
| 280G treatment | Cutback to avoid excise tax if better after-tax (no gross-ups) | |
| Employment agreement effective date | March 21, 2022 (Singleton) |
Investment Implications
- Pay-for-performance alignment: AIP metrics directly tied to revenue, EBITDA, quality and cash flow with 153.6% achievement in 2024; RSU and option grants provide multi-year retention and performance linkage . Bioventus’ fundamentals improved in 2024 versus 2023 (higher revenue, improved net loss, higher EBITDA), supporting the AIP outcomes [GetFinancials].
- Vesting and selling pressure: Singleton holds significant unvested RSUs (80,610 from 2024; 39,000 from 2023; 37,250 from 2022) and unexercisable options, creating predictable vesting events; disclosed 2024 sales were modest (13,753 shares), limiting near-term selling overhang .
- Alignment and risk controls: Beneficial ownership of 290,513 shares and option exposure aligns incentives; anti-hedging policy reduces misalignment risk; pledging not disclosed; clawback policy and 280G cutback enhance governance discipline .
- Retention and CoC risk: Standard severance (12 months salary + 100% target bonus) and CoC terms (18 months salary + 150% target bonus + full equity acceleration) are competitive; full acceleration under CoC can create event-driven supply risk but strengthens retention ahead of strategic actions .
*Values retrieved from S&P Global.