Thomas W. Erickson
3D SYSTEMSAbout Thomas W. Erickson
Thomas W. Erickson (age 74) has served as an independent director of 3D Systems (DDD) since 2015, with current committee assignments on the Audit and Compensation Committees . He is President & CEO of ECG Ventures, Inc. (since 1988) and Chair of Dermatologists of Central States, LLC (DOCS) (since 2022), bringing extensive executive and operational experience, particularly across healthcare services and turnarounds . The Board has affirmatively determined Erickson is independent under NYSE standards, with no material relationships to the company . DDD has a mandatory retirement age of 75 and 10-year term limits; Erickson is currently in year 10, highlighting imminent refreshment timing under Board policy .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ECG Ventures, Inc. | President & CEO | 1988–Present | Investment and operating leadership; healthcare/life sciences focus |
| National Medical Health Card Systems, Inc. | Chair; Interim President & CEO | Prior | Turnaround/interim leadership |
| PathWays, Inc. | Chair of the Board | Prior | Board leadership |
| TransHealthcare, Inc. | Chair of the Board | Prior | Board leadership |
| LifeCare Holdings, Inc. | Chair; Interim CEO | Prior | Restructuring/interim leadership |
| Luminex Corporation | Interim President & CEO; prior public director | Prior | Interim operational leadership; public board experience |
| Inmar, Inc. | Chair of the Board | Prior | Board leadership |
| Western Dental Services, Inc. | Chair; Interim CEO | Prior | Operational/turnaround leadership |
| Omega Healthcare Investors, Inc. | Interim President & CEO | Prior | Interim leadership at REIT |
| CareSelect Group, Inc. | Co-founder; President & CEO | Prior | Founding/operator experience |
External Roles
| Organization | Role | Tenure | Notes/Interlocks |
|---|---|---|---|
| Dermatologists of Central States, LLC (DOCS) | Chair of the Board | 2022–Present | Private dermatology group leadership |
| MGA Home Care, LLC | Director | Current | Private healthcare services |
| MW Industries, LP | Non-executive Director | Current | Parent of former customer; Board determined no material interest; subsidiary sold Dec 2023 |
| Pearl Street Dental Management, LLC | Director | Current | Private dental services |
| American Renal Associates Holdings, Inc. | Director (prior 5 years) | Prior | Public company board (ended within last five years) |
| Luminex Corporation | Director (prior 5 years) | Prior | Public company board (ended within last five years) |
Board Governance
- Committees: Audit (member) and Compensation (member). Audit Committee met 8 times in 2024 (private sessions at most meetings); Compensation Committee met 6 times in 2024 .
- Independence and conflicts: Board affirmatively determined Erickson is independent. MW Industries connection reviewed; transactions arm’s-length, immaterial; Erickson had no direct/indirect material interest; relevant subsidiary sold in Dec 2023 .
- Attendance and engagement: In 2024, each director attended at least 75% of Board and committee meetings on which they served; executive sessions of non-employee directors occur at regular meetings; independent directors meet in executive session at least quarterly .
- Board structure: Independent Chair (Charles G. McClure, Jr.). Mandatory retirement age 75; 10-year term limits; Director Emeritus program for knowledge continuity .
- Governance policies: Robust codes of conduct/ethics; related party transaction policy with pre-approval thresholds; public charters and clawback policy available; hedging/pledging prohibited for directors/officers .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Stock Awards ($) | Total ($) | Details |
|---|---|---|---|---|
| 2024 | 76,712 | 135,000 | 202,935 | Annual equity grant on Aug 30, 2024 of 63,084 shares at $2.14 closing price; immediately vested under 2015 Plan |
| Policy context | — | — | — | Member fee schedule effective Oct 1, 2024: Board $50,000; Audit $15,000 (Chair $30,000); Compensation $15,000 (Chair $30,000); CCGS $15,000 (Chair $30,000); Technology Applications $15,000 (Chair $30,000) |
- Director stock grants reduced 10% one-time in 2024 to $135,000 per non-employee director, indicating cost discipline .
Performance Compensation
- No performance-based director compensation disclosed; annual director equity grants are immediately vested stock (not RSUs/PSUs) under the Non-Employee Director Compensation Policy .
Other Directorships & Interlocks
| Category | Entity | Nature |
|---|---|---|
| Current public company boards | None | — |
| Prior public company boards (last 5 years) | American Renal Associates; Luminex | Former director roles |
| Private boards/interlocks | DOCS (Chair), MGA Home Care, MW Industries (non-executive director), Pearl Street Dental | MW Industries was parent of a customer; immaterial arm’s-length transactions; no material interest; subsidiary sold Dec 2023 |
Expertise & Qualifications
- Skills matrix highlights Erickson’s Senior Leadership, Public Company Board experience, Business Development & M&A, and Go-To-Market capabilities .
- Audit Committee membership implies meeting heightened independence standards for audit committees; Audit Committee Financial Expert designation is held by other members (Drayton, Moore), not Erickson .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Thomas W. Erickson | 320,378 | <1% |
- Director ownership policy: Minimum equity stake equal to 5x annual cash retainer; directors must retain all shares granted until meeting guideline; all directors comply or are retaining 50% of net shares until compliant .
Governance Assessment
- Board effectiveness: Erickson brings deep operator/turnaround credentials across healthcare services, contributing to Compensation oversight and audit risk discussions; committee workloads were substantive in 2024 (Audit 8, Comp 6) .
- Independence and conflicts: MW Industries relationship was reviewed and deemed non-material with the relevant subsidiary sold in 2023; strengthens independence case, but remains a monitoring point for related-party exposure in healthcare/supplier networks .
- Alignment and incentives: Director pay emphasizes equity (immediately vested stock) plus cash retainers/committee fees; 2024 reduction of equity grants signals cost discipline amid weaker company performance; director ownership guidelines (5x cash retainer) and hedging/pledging prohibitions enhance alignment .
- Refreshment risk: Erickson is age 74 with 10 years of service; given mandatory retirement at 75 and 10-year term limits, near-term board refresh/replacement is likely—investors should watch succession planning and committee continuity .
- Shareholder sentiment: Say-on-pay support averaged 94% over five years, dipping to 88% in 2024 (context for overall compensation governance, not director pay); Compensation Committee considered feedback in redesigning 2025 PSUs .
RED FLAGS and Watch Items
- Potential related-party exposure: MW Industries affiliation (formerly parent of a customer) reviewed and cleared; continue monitoring for any renewed transactions or indirect interests .
- Imminent retirement/term limit: Approaching age 75 and 10-year term limit may drive board changes; ensure committee bench strength and knowledge transfer .
- Director equity fully vested at grant: Lack of performance linkage in director equity; while common market practice, some investors prefer deferred/holding periods—offset here by ownership guidelines .
Section 16 compliance: No delinquent filings for 2024, indicating timely reporting by directors and officers .