W. Richard Staub
President, Research & Development Solutions at IQV
Executive
About W. Richard Staub
W. Richard Staub, III is President, Research & Development Solutions (R&DS) at IQVIA and age 62; he led R&DS from 2016–2022, served as Senior Advisor to the CEO thereafter, and was re‑appointed President effective September 25, 2023 to ensure continuity following an unplanned leadership departure . IQVIA’s long‑term incentives for his role emphasize pay‑for‑performance via three‑year Adjusted Diluted EPS growth and Relative TSR vs. the S&P 500, with a negative TSR cap on the TSR portion; company Adjusted Diluted EPS growth was 9.1% in 2024, anchoring the pay‑versus‑performance framework .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IQVIA | President, Research & Development Solutions | 2016–2022 | Led R&DS; transitioned to Senior Advisor in 2022 |
| IQVIA | Senior Advisor to Chairman & CEO | 2022–2023 | Guided R&DS strategy; maintained key customer relationships |
| IQVIA | President, Research & Development Solutions | 2023–present | Reappointed 9/25/2023; LDC increased performance share grant in Jan 2024 to incentivize continuity |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 335,787 | 391,667 | 800,000 |
| Target Bonus (%) | — | — | 100% |
| Actual Annual Incentive ($) | 350,000 | 455,887 | 879,332 |
| Formula‑Based Payout Factor (%) | — | — | 109.9% |
Performance Compensation
Short‑Term Incentive (Annual Plan – 2024)
| Measure | Weight | Target | Actual | Payout | Notes |
|---|---|---|---|---|---|
| Revenue/Profit | 60% | Not disclosed | Not disclosed | Not disclosed | Corporate financial components drive majority of payout |
| Cash Flow | 10% | Not disclosed | Not disclosed | Not disclosed | Includes capital intensity discipline |
| Operational/Strategic | 20% | Program goals | Score: 8/20 | 75% | Record $31.1B contracted backlog (+5.5% cc), 113% of new business targets, ~400 net new customers |
| Leadership/Sustainability | 10% | Program goals | Score: 13/20 | 126% | 79.7% employee engagement vs 73.6% F500 benchmark; talent development, workforce optimization |
| Final Payout (Calculated) | — | — | — | 109.9% | Final payout = $879,332; no individual adjustment |
Long‑Term Incentive – Performance Shares (2024–2026 Cycle)
| Metric | Weight | Threshold | Target | Maximum | Payout Range |
|---|---|---|---|---|---|
| 3‑Year Adjusted Diluted EPS Growth | 75% | 6.2% | 10.0% | 13.6% | 50% / 100% / 200% of target |
| 3‑Year TSR vs. S&P 500 (percentile) | 25% | 25 | 55 | 75 | 50% / 100% / 200% of target; capped at target if absolute TSR < 0 |
2024 Long‑Term Award Mix (Grant‑Date Value)
| Component | Value ($) |
|---|---|
| Performance Shares | 7,999,826 |
| Stock Appreciation Rights (SARs) | 999,940 |
Multi‑Year Compensation (Summary Compensation Table)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 335,787 | 391,667 | 800,000 |
| Stock Awards ($) | 1,156,443 | 781,050 | 7,999,826 |
| Option/SAR Awards ($) | 371,064 | 260,432 | 999,940 |
| Non‑Equity Incentive ($) | 350,000 | 455,887 | 879,332 |
| All Other Compensation ($) | 61,757 | 38,890 | 65,015 |
| Total ($) | 2,275,051 | 1,927,926 | 10,744,113 |
Equity Ownership & Alignment
Beneficial Ownership and Alignment
| Item | Value |
|---|---|
| Shares Beneficially Owned | 32,595 |
| Percent of Shares Outstanding | <1% (176,063,745 outstanding) |
| SARs exercisable or vesting within 60 days | 15,558 SARs |
| RSUs scheduled to vest within 60 days | 489 |
| Net shares retained on 2024 vesting | 1,816 |
| Ownership Guidelines | NEOs must hold stock valued between 3x–6x base salary; retain at least 50% of net shares until met |
| Hedging/Pledging | Prohibited without exception |
Outstanding Equity Awards (12/31/2024)
| Grant Date | SARs Exercisable (#) | SARs Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| 2/9/2021 | 3,204 | — | 183.82 | 2/9/2031 |
| 2/10/2022 | 3,641 | 1,821 | 250.43 | 2/10/2032 |
| 2/13/2023 | 1,144 | 2,289 | 232.11 | 2/13/2033 |
| 2/7/2024 | — | 13,812 | 214.34 | 2/7/2034 |
| Grant Date | Unvested RSUs (#) | Market Value ($) |
|---|---|---|
| 2/10/2022 | 489 | 96,093 |
| 2/13/2023 | 3,365 | 661,256 |
| 1/2/2024 | 21,702 | 4,264,660 |
| 2/7/2024 | 13,996 | 2,750,354 |
| Grant Date | Unearned Performance Shares (#) | Vesting Date |
|---|---|---|
| 2/13/2023 | 3,365 | 12/31/2025 |
| 1/2/2024 | 21,702 | 12/31/2026 |
| 2/7/2024 | 13,996 | 12/31/2026 |
As of 12/31/2024, the NYSE closing price was $196.51; the 2/9/2021 SAR grant (exercise price $183.82) was in‑the‑money, while the 2022–2024 SAR grants (exercise prices $214.34–$250.43) were out‑of‑the‑money on that date .
2024 Option Exercises and Stock Vested
| Item | Mr. Staub |
|---|---|
| Options/SARs Exercised (#) | — |
| Shares Acquired on Vesting (#) | 2,863 |
| Value Realized on Vesting ($) | 590,789 |
| Net Shares Retained on Vesting (#) | 1,816 |
Employment Terms
| Term | Details |
|---|---|
| Agreement Type | Letter agreement; at‑will, base salary subject to annual review; target annual bonus as % of base |
| Current Base Salary | $800,000 |
| Target Annual Bonus | 100% of base salary |
| Non‑Compete / Non‑Solicit | 24‑month non‑compete and non‑solicit post‑termination |
| Severance (termination without cause) | Cash severance equal to 24 months base salary + target annual bonus + projected COBRA cost for 18 months; payable in equal monthly installments during the 24‑month non‑compete period |
| Estimated Cash Severance | $2,400,000 severance + $20,124 health & welfare benefits (12/31/2024 scenario) |
| Change‑in‑Control followed by involuntary termination | Same cash severance $2,400,000 + $20,124 benefits (12/31/2024 scenario) |
| Clawbacks | Mandatory restatement recovery policy (SEC/NYSE), plus supplemental policy allowing recovery for specified misconduct beyond restatements |
| Hedging/Pledging | Company policy prohibits hedging and pledging of IQVIA stock without exception |
Performance & Track Record
- Delivered record contracted R&DS backlog of $31.1B (+5.5% constant currency) and exceeded net new business targets; ~400 net new R&DS customers .
- Drove commercialization with >300 new Emerging Biopharma customers; advanced decentralized trials with large wins among top‑10 pharma clients .
- Increased use of AI and automation in clinical trials (deployed AI in 100% of applicable clinical technology products), enhancing productivity across protocol design, site selection, and quality management .
- Strengthened operations: reduced third‑party contractor headcount by 33% YoY, improved cash collections by 7.9%, and improved quarterly average net DSO by two days .
- Sustained high employee engagement (79.7% vs. Fortune 500 benchmark 73.6%) with structured leadership and talent development programs .
Compensation Peer Group and Governance Signals
- Peer group includes large‑cap biopharma, life science tools, IT services and consulting (e.g., AbbVie, Amgen, Danaher, Thermo Fisher, Accenture, IBM); NEO target total compensation generally set near peer median, with flexibility based on role, scope, and performance .
- 2024 say‑on‑pay approval was 84%, up four points from prior year, reflecting investor acceptance of pay‑for‑performance design .
- Governance: robust clawbacks, prohibition on hedging/pledging, multi‑year vesting for performance awards, ownership guidelines (NEOs 3x–6x salary; directors 5x retainer) .
Investment Implications
- Compensation alignment: Majority of value at risk via performance shares (EPS growth and Relative TSR with a negative TSR cap) and SARs; 2024 formula‑based annual payout for Staub was near target (109.9%), consistent with balanced financial and operational delivery .
- Retention risk mitigated: 24‑month non‑compete and severance economics (24 months base + target bonus) plus increased 2024 performance share grant upon re‑appointment strengthen continuity in R&DS leadership .
- Insider selling pressure appears contained near term: No option/SAR exercises in 2024; net share retention on vesting indicates accumulation rather than distribution .
- Ownership alignment: Beneficial ownership plus upcoming vesting, strict anti‑hedging/pledging policy, and ownership guidelines support long‑term alignment with shareholders .