Shacey Petrovic
EXACT SCIENCESAbout Shacey Petrovic
Independent Class I director at Exact Sciences (EXAS) since 2020; age 51. Former President & CEO of Insulet (2019–2022) with prior senior roles at Clinical Innovations and Hologic/Cytyc; chairs the Corporate Governance & Nominating Committee. Education: B.S., Biology, University of Wisconsin–Milwaukee. Independence determined under Nasdaq rules; current public company board role at Ambu A/S (since 2022).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Insulet Corporation (PODD) | President & CEO | 2019–2022 | Led Omnipod 5 launch; drove shift to pharmacy; oversaw finance & strategy, market cap growth from ~$2B to >$20B |
| Insulet Corporation (PODD) | President & COO | 2016–2018 | Operations leadership; pipeline/commercial execution |
| Insulet Corporation (PODD) | President, Diabetes Products; Chief Commercial Officer | 2015–2016 | Commercial leadership, sales and marketing |
| Clinical Innovations | President & CEO | 2013–2015 | Women’s health devices and diagnostics leadership |
| Hologic, Inc. / Cytyc | VP & GM, GYN Surgical; VP Global Surgical Marketing; Business Director | 2008–2013 | Segment P&L, global marketing and product commercialization |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Ambu A/S (Nasdaq Nordic: AMBU B) | Director | Since 2022 | Current public company directorship |
| Insulet Corporation (Nasdaq: PODD) | Director | 2018–2024 | Former directorship; ended 2024 |
Board Governance
- Independence: Board determined Petrovic is independent; CGNC, HCC, A&F committees comprised entirely of independent directors.
- Committee leadership: Chair, Corporate Governance & Nominating Committee; members in 2024/2025 include Petrovic (Chair), Paul Clancy, James Doyle.
- Committee activity: CGNC met 3 times in 2024; Audit & Finance 6; Human Capital 5; Innovation, Technology & Pipeline 3.
- Attendance: All directors attended at least 75% of aggregate Board and committee meetings in 2024.
- Board leadership/engagement: Regular executive sessions led by Lead Independent Director; annual CEO evaluation and strong independent oversight.
Fixed Compensation
Policy (effective 2024):
- Board cash retainer: $70,000; Lead Independent Director: $110,000.
- Committee chair retainers: Audit & Finance $25,000; Human Capital $20,000; Corporate Governance & Nominating $15,000; Innovation, Technology & Pipeline $20,000.
- Committee member retainers: Audit & Finance $12,500; Human Capital $10,000; Corporate Governance & Nominating $7,500; Innovation, Technology & Pipeline $10,000.
Petrovic’s actual cash compensation:
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $75,000 | $85,000 |
| Total Cash + Equity ($) | $401,249 | $338,892 |
Stock ownership guidelines: Directors must hold stock equal to ≥5× annual retainer; as of Dec 31, 2024, all non-employee directors were in compliance or on track.
Performance Compensation
Director equity structure:
- Annual equity grant value increased from $275,000 (2023) to $300,000 (2024+); time-based vesting on earlier of first anniversary or next annual meeting; prorated/full vesting rules on death, disability, change-in-control; initial director grant = $375,000 vesting in 3 annual installments.
Petrovic’s actual stock awards and unvested units:
| Metric | 2023 | 2024 |
|---|---|---|
| Stock Awards ($) | $326,249 | $253,892 |
| Unvested Restricted/Deferred Stock Units (shares) at YE | 3,599 | 5,939 |
Performance metrics: Exact Sciences does not tie non-employee director equity awards to financial/operational performance; awards are time-based per policy.
Other Directorships & Interlocks
| Person/Company | Type | Overlap/Interlock | Notes |
|---|---|---|---|
| Ambu A/S | External public board | Current | Active director since 2022 |
| Insulet Corporation | External public board | Former | Served 2018–2024; EXAS director Daniel Levangie previously served on Insulet’s board (2011–2016), but no current overlapping service disclosed |
Related-party transactions: None >$120,000 involving directors in 2024; Audit & Finance Committee oversees and approves any related person transactions.
Expertise & Qualifications
- Executive leadership; pipeline development/commercialization; sales/marketing; regulatory/compliance; talent management; finance/strategy/M&A—built across Insulet, Clinical Innovations, Hologic/Cytyc.
- Board skill matrix shows Petrovic’s strengths across diagnostics/medtech, commercialization, global perspective, governance, risk; cybersecurity oversight noted among Board competencies.
Equity Ownership
| Holder | Issued Shares | Shares Issuable within 60 days (Options/RSUs/DSUs) | Total Beneficial Ownership | % Outstanding | Notes |
|---|---|---|---|---|---|
| Shacey Petrovic | 23,501 | 0 | 23,501 | <1% | Includes 7,095 shares held in trust with shared voting/investment power |
| Shares outstanding reference (Apr 15, 2025) | 188,594,669 | — | — | — | Table basis per proxy |
Insider trading/pledging policies: Hedging, short sales, and pledging are prohibited for insiders; insider trading policy filed with 2024 Form 10-K.
Governance Assessment
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Strengths
- Independent director; chairs CGNC, central to board refreshment, governance policy, and sustainability oversight; active committee cadence (3 CGNC meetings in 2024).
- Strong operational/commercial medtech background aligned with EXAS’s diagnostics strategy.
- Ownership alignment via robust stock ownership guidelines; directors in compliance/on track as of YE 2024; anti-hedging/pledging policy reduces misalignment risk.
- No related-party transactions involving directors in 2024; Audit & Finance oversight of related-person transaction policy.
- Board engagement: all directors met ≥75% attendance; independent executive sessions led by LID bolster oversight.
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Watch items
- External board service at Ambu A/S: monitor for time commitments against EXAS Corporate Governance Guidelines (limits: CEOs ≤2 public boards; other directors ≤4; audit committee members ≤3 audit committees). Current roles appear within policy.
- Equity awards are time-based for directors (no performance linkage); consider investor preference for longer vesting or DSUs to enhance long-term alignment, though EXAS uses ownership guidelines to mitigate.
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Shareholder sentiment signals
- Say-on-Pay approval: ~92% support at 2024 annual meeting; ~91% in 2023—reflects broad investor alignment with compensation governance.