Tina Hunt
IDEXX LABORATORIES INC /DEAbout Tina Hunt
Executive Vice President, Global Strategy and Commercial (since January 2025). Joined IDEXX in 2006 and has held increasingly senior leadership roles across strategy, sector development, global operations, and diagnostics; she currently leads global commercial, marketing, medical affairs, commercial learning, corporate development, strategy, and advanced analytics. Education: PhD in Environmental Engineering (Purdue), MBA (University of Southern Maine), executive education at Stanford and Harvard . 2024 company performance metrics relevant to incentive outcomes: organic revenue growth 6.4%, operating profit $1,196.0M, diluted EPS $11.16, ROIC 48.9% . TSR linkage is disclosed in “pay vs performance” with TSR measured from 12/31/2019 through 12/31/2024 versus the S&P 500 Health Care Index . Age not disclosed.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IDEXX | EVP, Strategy, Sector Development & Global Operations | Jan 2023–Dec 2024 | Led enterprise strategy and global operations; positioned for long-term growth and operational excellence . |
| IDEXX | EVP & GM, Point of Care Diagnostics and Worldwide Operations | Jan 2020–Dec 2022 | Ran POC diagnostics and global operations portfolio, including product and operational execution . |
| IDEXX | Corporate Vice President (VetLab, Diagnostic Imaging, Telemedicine) | Nov 2016–Jan 2020 | Managed key diagnostics and services businesses; broadened multi-modal diagnostics footprint . |
| IDEXX | Various leadership roles | 2006–2016 | Progressively senior roles across strategy/operations, building domain expertise . |
| Woodard & Curran | Vice President | 1996–2006 | Environmental and sustainability consulting leadership; external operational and sector expertise . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Veeva Systems Inc. | Director | Jan 2022–Mar 2025 | Announced intention to step down effective immediately prior to Veeva’s 2025 annual meeting . |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $538,327 | $559,154 | $576,635 |
| Non-Equity Incentive Plan Compensation ($) | $328,506 | $586,406 | $421,950 |
| All Other Compensation ($) | $20,935 | $25,252 | $32,304 |
| Total ($) | $2,537,863 | $3,570,793 | $3,730,700 |
2024 target pay components:
- Base pay: $580,000; target bonus: 75% of base ($435,000); actual bonus paid: $421,950 .
| 2024 Annual Bonus Inputs | Weight | Target | Actual | Payout Rating |
|---|---|---|---|---|
| Organic Revenue Growth | 40% | 8.5% | 6.4% | 68.2% |
| Operating Profit ($M) | 20% | $1,215.3 | $1,196.0 | 76.9% |
| Diluted EPS ($) | 20% | $11.19 | $11.16 | 95.9% |
| ROIC | 20% | 49.1% | 48.9% | 97.8% |
| Weighted Financial Performance Factor | — | — | — | 81% |
Performance Compensation
| 2024 Equity Award Mix (Granted Feb 2024) | Award Value ($) |
|---|---|
| Stock Options | $1,350,000 |
| RSUs (time-based) | $675,000 |
| PSUs (performance-based) | $675,000 |
| Total Equity Award Value | $2,700,000 |
| 2024 PSU Award Performance Framework | Weight | Threshold Payout | Target Payout | Max Payout |
|---|---|---|---|---|
| Avg Annual Organic Revenue Growth | 50% | 20% | 100% | 200% |
| Avg Annual Comparable Operating Profit Growth | 50% | 20% | 100% | 200% |
Vesting mechanics:
- Options: four-year ratable vesting; 10-year term (grants in 2020–2024); earlier grants vest over five years (pre-2020) .
- RSUs: four-year ratable vesting for 2020–2024 grants; special 2/8/2023 RSU grant (1,508 RSUs) vests in full on 2/14/2026 .
- PSUs: three-year performance period; cliff vest at certification on/after third anniversary, generally contingent on continued employment; acceleration only upon change in control followed by qualifying termination (double trigger) at 100% of target .
Equity Ownership & Alignment
| Ownership (as of Mar 8, 2025) | Amount |
|---|---|
| Shares Owned | 12,487 (includes 160 jointly with spouse) |
| Options Exercisable & RSUs Vesting within 60 days | 36,985 |
| Total Beneficially Owned | 49,472 |
| % of Common Stock Outstanding | <1% |
| Outstanding Grants and Unvested Awards (as of Dec 31, 2024) | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | RSUs Unvested (#) | Market Value ($) | PSUs Unearned (#) | Payout/Market Value ($) |
|---|---|---|---|---|---|---|---|---|
| Options 2/14/2017 | 1,218 | — | 141.60 | 2/13/2027 | — | — | — | — |
| Options 2/14/2018 | 6,425 | — | 178.26 | 2/13/2028 | — | — | — | — |
| Options 2/14/2019 | 6,194 | — | 206.94 | 2/13/2029 | — | — | — | — |
| Options 2/14/2020 | 7,125 | — | 288.78 | 2/13/2030 | — | — | — | — |
| Options 2/14/2021 | 4,640 | 1,546 | 544.08 | 2/13/2031 | 160 | $66,150 | — | — |
| Options 2/14/2022 | 3,604 | 3,602 | 505.53 | 2/13/2032 | 408 | $168,684 | — | — |
| Options 2/8/2023 | 1,518 | 4,551 | 497.43 | 2/7/2033 | 1,508 | $623,468 | — | — |
| RSUs 2/8/2023 | — | — | — | — | 621 | $256,746 | — | — |
| Options 2/14/2024 | — | 5,585 | 560.56 | 2/13/2034 | 1,204 | $497,782 | 1,204 | $497,782 |
Insider activity and potential selling pressure:
- 2024: RSUs vested 872 shares; value realized $488,808; zero option exercises (suggests limited near-term selling via exercises) .
Stock ownership guidelines and pledging:
- Executives must hold multiples of salary (EVP: 4x) and retain 75% of net shares until compliant; all NEOs were in compliance as of Dec 31, 2024 .
- Company prohibits pledging and hedging; part of compensation risk controls .
Employment Terms
| Scenario (as of Dec 31, 2024) | Amount ($) |
|---|---|
| Change in Control – Salary | $1,160,000 |
| Change in Control – Multiple of Average Bonus | $1,043,067 |
| Change in Control – Pro-Rated Bonus | $435,000 |
| Change in Control – Benefits | $44,929 |
| Change in Control – Outplacement | $25,000 |
| Change in Control – Accelerated Vesting of Equity Awards | $2,110,611 |
| Death/Disability – Benefits | $495,000 |
| Death/Disability – Accelerated Vesting of Equity Awards | $2,110,611 |
Key terms:
- Double-trigger change-in-control: equity vests at 100% of PSU target only upon CIC followed by qualifying termination; options/RSUs/PSUs accelerate under these conditions .
- No severance outside CIC for other NEOs (including Dr. Hunt), beyond standard three-month post-termination exercisability of vested options and certain post-retirement vesting mechanics if age/service criteria are met (Dr. Hunt did not meet retirement eligibility as of 12/31/2024) .
- Clawback policy in place; executive equity grant timing governed by policy avoiding MNPI timing; no option/award timing manipulation .
Compensation Structure Analysis
- 2024 equity added PSUs to mix (25% of LTI for non-CEO), increasing performance-contingent pay and alignment; options 50%, RSUs 25%, PSUs 25% for EVPs .
- Target TDC positioning elevated for high-performing, high-potential NEOs to strengthen retention; majority of year-over-year increase via PSUs, tightening pay-for-performance linkage .
- 2024 bonus outcome below target due to softer organic growth and operating profit vs goals, curbing cash payouts (81% financial factor) .
Performance & Track Record
- Special recognition RSU grant (1,508 RSUs on 2/8/2023) for expanded responsibilities encompassing corporate strategy, marketing, and sector development; vests in full 2/14/2026 .
- Current remit spans core growth functions and advanced analytics, indicating cross-functional execution scope .
- 2024 financials used for incentives highlight durable ROIC and EPS, albeit below growth targets, informing bonus outcomes .
- TSR measurement disclosed for pay-versus-performance tracking across 2019–2024 horizon relative to S&P 500 Health Care Index .
Risk Indicators & Red Flags
- Pledging/hedging prohibited; stock ownership guidelines enforced annually (mitigates misalignment risk) .
- No supplemental retirement (SERP) for executive officers; reduces hidden liability risk .
- Equity acceleration requires double-trigger, limiting windfall risk absent termination post-CIC .
- Delinquent Section 16(a) reporting noted for another executive, but no filing issues disclosed for Dr. Hunt in 2024 .
Compensation Committee & Governance
- Compensation and Talent Committee members: Irene Chang Britt (Chair), Bruce L. Claflin, Lawrence D. Kingsley, Sam Samad; 6 meetings in 2024; oversees executive comp philosophy, stock ownership guidelines, clawback, and risk analysis .
- Committee concluded compensation practices not likely to produce material adverse risk; factors include capped bonuses, multi-year vesting, ownership guidelines, clawback, and anti-pledging .
Equity Ownership Guidelines Compliance
| Role | Required Multiple of Salary | Compliance (as of 12/31/2024) |
|---|---|---|
| Executive Vice President | 4x salary | In compliance |
Investment Implications
- Strong alignment and retention: Heavy LTI weighting with 25% PSUs plus 50% options ties upside to multi-year organic revenue and comparable operating profit growth; ownership guidelines at 4x salary and anti-pledging strengthen alignment .
- Near-term selling pressure likely modest: 2024 showed RSU vesting (872 shares; $488,808) and no option exercises; upcoming scheduled RSU tranches and the special RSU cliff in Feb 2026 are key watch dates for potential sales .
- CIC economics are controlled: Double-trigger acceleration and defined CIC cash components (salary + average bonus multiples, pro-rated bonus, benefits/outplacement) limit windfall risk absent termination, but create meaningful payout value if a transaction occurs .
- Execution risk tied to growth metrics: 2024 bonus factor at 81% reflects underperformance vs targets in organic growth and operating profit; PSU outcomes hinge on three-year averages, intensifying pressure to deliver profitable growth in 2024–2026 .