Matthijs Glastra
IDEX CORP /DE/About Matthijs Glastra
Matthijs Glastra is an independent Class III director nominee at IDEX Corporation, appointed to the Board effective February 21, 2025 (~0.1 years of Board tenure as of the 2025 proxy; age 56) . He serves as Chief Executive Officer of Novanta Inc. since September 2016 and was appointed Chair of Novanta’s Board in May 2021, bringing international operations, innovation, M&A, and strategic leadership experience to IDEX . His education includes an M.S. in Applied Physics (Delft University of Technology), an advanced engineering degree (ESPCI, Paris), and an MBA (INSEAD, Fontainebleau) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Koninklijke Philips N.V. | Various leadership roles; COO, Philips Lumileds (2010–2012); CEO, Philips Entertainment Lighting (2012) | 1994–2012 | Led across healthcare, semiconductors, and lighting; innovation and M&A exposure |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Novanta Inc. | Chief Executive Officer | Sep 2016–present | Public company CEO; international operations and strategic execution |
| Novanta Inc. | Chair of the Board | May 2021–present | Board leadership and governance oversight |
Board Governance
- Independence: The Board affirmatively determined Mr. Glastra is independent under NYSE standards; all standing committees are composed entirely of independent directors .
- Committee assignment: Audit Committee member (not Chair) .
- Audit Committee “financial expert” designation: Committee financial experts are Mark Buthman, Katrina Helmkamp, and Paris Watts‑Stanfield; Mr. Glastra is not designated as an “audit committee financial expert” .
- Board leadership and engagement: Non‑Executive Chair structure; eight Board meetings in 2024 with executive sessions of independent directors at every regular meeting (Mr. Glastra joined in 2025; 2024 attendance metric not applicable to him) .
- Risk, cybersecurity, and sustainability oversight are shared across the Board and committees, with the Audit Committee overseeing compliance, EHS, and cybersecurity; and the Nominating & Corporate Governance Committee (NCGC) overseeing governance and sustainability .
- Director onboarding/education: New directors participate in structured onboarding, leadership training (including IDEX’s 80/20 model), and site visits; ongoing education covers topics such as risk, cybersecurity, AI, and regulatory trends .
Committee Assignments (IDEX)
| Committee | Role | Since | Notes |
|---|---|---|---|
| Audit | Member | Feb 21, 2025 | Not designated as an “audit committee financial expert” |
Fixed Compensation
IDEX non‑employee director compensation structure (effective for 2024, indicating program design relevant to 2025 appointments):
| Component | Amount/Terms |
|---|---|
| Annual Cash Retainer | $95,000 |
| Committee Chair Retainers | Audit: $20,000; Compensation: $15,000; Nominating & Corporate Governance: $15,000 |
| Annual Equity Grant (non‑employee directors) | $165,000 in RSUs (annual grant at Annual Meeting) |
| Initial Equity Grant (on appointment) | Prorated RSUs for the period until next Annual Meeting |
| Non‑Executive Chair Additional Fees | $100,000 cash retainer and $50,000 in RSUs (additional to standard director pay) |
| Ownership Guidelines | 5x annual Board retainer; no selling until guideline met; all non‑management directors in compliance or under mandatory holding until compliance as of the record date |
| Deferred Compensation | Directors may defer cash fees; equity deferral available; standard non‑preferential crediting |
Notes:
- New director RSUs vest on the earlier of first anniversary, death/disability, or change in control; annual director RSUs vest on the earlier of first anniversary/next annual meeting (≥50 weeks), death/disability, failure of re‑election, change in control, or after 6+ years of continuous service .
Performance Compensation
Directors do not receive performance‑conditioned equity; equity compensation is time‑based RSUs to align directors with shareholders (no stock options or PSUs for directors) . Mr. Glastra’s disclosed initial grant on joining:
| Grant Type | Grant Date | Shares | Vesting | Notes |
|---|---|---|---|---|
| RSUs | Feb 21, 2025 | 180 | Feb 21, 2026 | Initial pro‑rated director grant upon appointment |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Conflicts Disclosed |
|---|---|---|---|
| Novanta Inc. | Chair of the Board; CEO | Not disclosed in IDEX proxy | Independence affirmed by IDEX Board; no related‑party transactions requiring disclosure since Jan 1, 2024 |
Expertise & Qualifications
- Public company CEO and director; Chair of Novanta’s Board; significant international operations, innovation, M&A, and strategic experience .
- Technical and managerial education: M.S. Applied Physics (Delft), advanced engineering degree (ESPCI), MBA (INSEAD) .
- IDEX Board skills matrix reflects leadership/strategy, international manufacturing, M&A, technology/innovation, and high financial literacy among Class III nominees including Mr. Glastra .
Equity Ownership
| Metric | Value | As‑of |
|---|---|---|
| Beneficial Ownership (shares) | 180 (<1% of outstanding) | Mar 13, 2025 |
| Composition | 180 RSUs granted on Feb 21, 2025 (vest Feb 21, 2026) | Feb 21, 2025 |
| Pledging/Hedging | Prohibited for directors under insider trading policy | Policy in effect |
| Director Ownership Guidelines | 5x annual cash retainer; mandatory holding until met | As of record date, all non‑management directors compliant or under mandatory holding |
Governance Assessment
- Strengths: Independent director; service on Audit Committee enhances Board oversight; Board‑wide strong governance architecture including clawbacks, prohibition on hedging/pledging, stock ownership guidelines, and independent committee structures .
- Alignment: Director equity is time‑based RSUs with mandatory ownership, aligning interests; initial RSU grant disclosed with specific share count and vest schedule .
- Conflicts/Related‑party: The Audit Committee administers a robust Related Person Transactions Policy; no related‑party transactions requiring disclosure since Jan 1, 2024 .
- Engagement/Effectiveness: Structured onboarding, site visits, and continuing education suggest high engagement expectations for new directors; independent director executive sessions at every Board meeting .
- Watch items: Mr. Glastra is an active public company CEO and Board Chair at Novanta, which may raise time‑commitment sensitivities for some investors; IDEX’s NCGC annually evaluates director time commitments and board composition to ensure effectiveness .
- Shareholder sentiment (context): Say‑on‑pay support remained strong (over 91% approval in 2024; 94% in 2023), signaling broader investor confidence in compensation governance at IDEX (company‑level indicator) .
No red flags were disclosed in the proxy regarding related‑party dealings, pledging, or attendance for Mr. Glastra (he joined in 2025; 2024 attendance data do not apply). The Board’s independence determination and absence of related‑party transactions support investor confidence in his governance profile at IDEX .