Patrick J. Beyer
About Patrick J. Beyer
Patrick J. Beyer, age 59, has served as an independent director of Bioventus (BVS) since October 2021. He is currently President and Chief Executive Officer and a director of CONMED Corporation (effective January 1, 2025), and previously held senior roles at CONMED, ICNet, and Stryker. He holds a B.A. in Economics from Kalamazoo College, an MBA in Finance from Western Michigan University, and completed Harvard Business School’s Advanced Management Program . The Board has affirmatively determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CONMED Corporation | President & CEO; Director | CEO from Jan 1, 2025; COO Apr–Dec 2024; President International & Global Orthopedics Oct 2020–Apr 2024; President, CONMED International Dec 2014–Oct 2020 | Operational leadership across global markets; board role at a public medtech company |
| ICNet | Chief Executive Officer | 2010–2014 | Led private infection control software firm through sale |
| Stryker Corporation | Various leadership roles | 1999–2009 | Led Stryker Europe (2005–2009); Stryker UK, South Africa, Ireland (2002–2005); Stryker Medical (1999–2002) |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| CONMED Corporation | Director | Since Jan 1, 2025 | CEO-director at publicly traded medtech company |
| Misonix, Inc. | Director | May–Oct 2021 | Audit Committee member |
Board Governance
- Committee assignments: Audit and Risk Committee member (not Chair). Audit and Risk responsibilities include oversight of audit firm, internal controls, risk, related party transactions; the committee met 8 times in 2024 .
- Independence: Beyer determined independent under Nasdaq rules; no material relationships compromising independence identified .
- Attendance: The Board met 6 times in 2024; each director attended at least 75% of Board and applicable committee meetings in 2024. In 2023, the Board met 18 times and each director attended at least 75% .
- Tenure and class: Director since 2021; currently a Class II director with term expiring at the 2026 Annual Meeting as Bioventus transitions to annual director elections in 2026 .
Fixed Compensation
| Year | Cash Fees ($) | Notes |
|---|---|---|
| 2024 | 65,000 | Comprised of $55,000 annual director retainer plus 2024 Audit & Risk Committee member retainer ($10,000). Committee chair/member retainer schedule detailed in policy; RSU grant values for non-employee directors were $173,000 in 2024 . |
| 2023 | 65,000 | Non-employee director compensation policy applied; no meeting fees disclosed; committee retainers per policy . |
- Non-Employee Director Compensation Policy (current): Annual cash retainer $55,000; Audit & Risk Chair $25,000 (was $20,000 in 2024); Audit & Risk member $12,500 (was $10,000 in 2024); Compensation Chair $15,000; Compensation member $7,500; Nominating & Corporate Governance Chair $10,000; member $5,000; Compliance, Ethics & Culture Chair $10,000; member $5,000. Annual RSU grant $215,000 beginning 2025 (was $173,000 in 2024); Chairperson receives additional $50,000 RSU grant starting 2025. RSUs vest one year from grant (or immediately prior to the next annual meeting); initial-year awards vest in three equal annual tranches; director RSUs accelerate upon change in control .
Performance Compensation
| Award Type | Grant Date | Shares/Value | Vesting | Notes |
|---|---|---|---|---|
| RSU | June 11, 2024 | 26,493 RSUs (aggregate grant-date fair value $172,999) | Vests June 11, 2025 (or immediately prior to 2025 Annual Meeting) | Standard annual director grant; time-based vesting, no performance metrics . |
| RSU | June 7, 2023 | 30,400 RSUs (aggregate grant-date fair value $85,728) | Vested June 7, 2024 (or immediately prior to 2024 Annual Meeting) | Standard annual director grant; time-based vesting . |
| Options | Various | 34,906 options outstanding as of Dec 31, 2024 | Not disclosed | Count disclosed; strike and expiration not disclosed . |
- Clawback policy: Adopted Sept 2023 to comply with SEC Section 10D; requires “no fault” recoupment of incentive compensation linked to restated financial measures for the prior three fiscal years, computed pre-tax .
Other Directorships & Interlocks
| Entity | Overlap/Interlock | Potential Conflict Notes |
|---|---|---|
| CONMED Corporation (CEO & Director) | Public medtech firm; sector adjacency to Bioventus | The Board affirmed Beyer’s independence; Audit Committee reviews related person transactions; no Beyer-related transactions disclosed in the proxy . |
| Misonix, Inc. (former Director, Audit Committee; May–Oct 2021) | Historical role prior to/around Bioventus’s 2021 period | Historical only; independence affirmed; no related transactions attributed to Beyer in the proxy . |
Expertise & Qualifications
- Global medtech leadership across orthopedics and infection control software; extensive international operating experience (Stryker Europe and EMEA) .
- Academic credentials: BA Economics, MBA Finance, HBS AMP .
- Public company board and audit committee experience (Misonix) .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | RSUs within 60 Days | Options within 60 Days | Notes |
|---|---|---|---|---|---|
| Patrick J. Beyer | 111,342 | * (<1%) | 26,493 | 34,906 | Footnote details: 49,943 shares held directly; RSUs and options may vest/exercise within 60 days of April 7, 2025 . |
- Anti-hedging policy and insider trading compliance policy referenced in corporate governance materials; no pledging by directors disclosed in the proxy .
Governance Assessment
- Board effectiveness: Beyer adds current operator perspective as CONMED’s CEO and deep global orthopedics experience; he serves on Bioventus’s Audit & Risk Committee, which met 8 times in 2024 and oversees related party transactions, internal controls, and risk—supporting robust oversight .
- Independence and attendance: Formally independent; attendance threshold met (≥75%) in both 2024 and 2023; the Board’s move to declassify by 2026 improves accountability .
- Pay structure and alignment: Director pay is weighted to equity via annual RSUs with standard one-year vesting; RSU grant value increased in 2024 versus 2023, and policy raises the standard to $215,000 in 2025, indicating emphasis on ownership alignment. Options outstanding are modest by Director standards; beneficial ownership is <1% but includes RSUs and options .
- Conflicts/related-party: No Beyer-specific related party transactions disclosed; Audit Committee reviews any such transactions per policy. Dual role as CEO/director of CONMED presents time-commitment considerations, but independence affirmed and attendance criteria met .
- Controls and investor confidence: Existence of clawback policy and anti-hedging policy are positive governance indicators; compensation consultants (Aon) engaged with independence considered for executive and director compensation benchmarking .
RED FLAGS
- None disclosed specific to Beyer (no related-party transactions, no delinquent Section 16 filings for Beyer noted). Monitoring advisable for potential time-commitment risks given concurrent CEO role at CONMED, although attendance standards were met .