Thomas Carey
About Thomas Carey
Thomas Carey (age 63 as of April 15, 2025) serves as Independent Chairperson of Standard BioTools’ Board, having joined the Board in January 2024 after previously serving on SomaLogic’s board since March 2023. He is Founder and Managing Partner of the Perspective Group and has 25+ years in executive search and consulting across life sciences; earlier roles include Global Head, Healthcare & Life Sciences at Russell Reynolds and leading the Life Sciences Board Practice at Spencer Stuart, preceded by investment banking and CFO roles in healthcare and IT. He holds a BA from College of the Holy Cross and an MBA from Northwestern’s Kellogg School of Management; his Board term (Class I) runs through 2026 and he is designated independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Russell Reynolds Associates | Global Head, Healthcare & Life Sciences | 2010–2015 | Led sector practice; board advisory experience |
| Spencer Stuart | Leader, Life Sciences Board Practice | Not disclosed | Board recruitment expertise |
| Various healthcare and IT companies | Chief Financial Officer | Not disclosed | Finance leadership; capital markets exposure |
| Investment banking firms | Investment banker | Not disclosed | Transaction and capital allocation experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SomaLogic, Inc. | Director | Since March 2023 | Joined prior to combined entity; industry network |
| Vital Biosciences, Inc. | Chairperson of the Board | Not disclosed | Point-of-care diagnostics; private company |
| Exact Sciences Corporation (Nasdaq: EXAS) | Director | Eight-year tenure | Public company board experience in diagnostics |
| Perspective Group | Founder & Managing Partner | Ongoing | Life sciences consulting; broad advisory |
Board Governance
- Independence: The Board determined Carey is an independent director under Nasdaq rules; the Board maintains a majority of independent directors .
- Leadership: Carey is the non-employee independent Chairperson; separation of Chair and CEO supports oversight and independent advice .
- Committee service: Carey chairs the Nominating & Corporate Governance Committee; members are Carey, Eli Casdin, and Kathy Hibbs; the committee met 8 times in 2024 .
- Attendance: In 2024 the Board held 12 meetings and committees held 20; all directors attended at least 75% of aggregate meetings except Eli Casdin (Carey met ≥75%) .
- Executive sessions: Independent directors hold executive sessions at each regularly scheduled board meeting, chaired by the independent Chairperson (Carey) .
- Overboarding/tenure policy: Directors generally encouraged to limit tenure to ~9–10 years and not sit on more than four public boards unless exceptions approved .
Fixed Compensation
| Component | Policy rate | Carey’s 2024 actual |
|---|---|---|
| Annual board cash retainer | $50,000 | $108,750 (includes Chair and committee retainers) |
| Additional cash retainer – Chair of the Board | $50,000 | Included in actual fees |
| Audit Committee member | $10,000 | N/A (not a member) |
| Human Capital Committee member | $7,000 | N/A (not a member) |
| Nominating & Corporate Governance member | $5,000 | Included in actual fees (member/chair) |
| Chair fees – Audit/Human Capital/Nominating | $10,000 / $8,000 / $5,000 | Nominating Chair fee included |
Performance Compensation
| Equity element | Policy grant value | Carey’s 2024 grant fair value | Vesting schedule |
|---|---|---|---|
| Annual RSUs (continuing directors) | $100,000 | $76,337 | Vests in full on earlier of 1 year or day before next AGM |
| Annual Stock Options (continuing directors) | $100,000 | $150,000 (includes $50,000 Chair option) | Options vest in 12 equal monthly installments (annual awards); Chair option same |
| Initial Options (on appointment) | $350,000 | Not applicable 2024 | Vest in 4 equal annual installments |
Equity structure emphasizes at-risk alignment: annual RSUs with one-year vest and monthly-vesting options, with additional option value for the Chair role; exercise price set at 100% of grant date fair market value; option term 10 years .
Other Directorships & Interlocks
| Company | Relationship to LAB | Overlap/Interlock risk |
|---|---|---|
| Exact Sciences (EXAS) | Diagnostics space peer/customer ecosystem | Prior tenure; no LAB-related transactions disclosed |
| Vital Biosciences (private) | Diagnostics; private company | No LAB-related transactions disclosed |
| SomaLogic (legacy) | Pre-merger entity | Board history; no separate related-party transactions disclosed |
No related-party transactions involving Carey were disclosed; the only named related-party dealings were a Revvity license (board member Frank Witney serves on Revvity’s board) and exchange agreements with Casdin/Viking investors, both overseen by the Audit Committee policy .
Expertise & Qualifications
- Executive search and board advisory expertise across life sciences; deep talent network .
- Finance background (former CFO roles and investment banking); strategic and capital markets experience .
- Board leadership in diagnostics and life sciences tools (Exact Sciences, SomaLogic, Vital Biosciences) .
Equity Ownership
| Metric | Amount |
|---|---|
| Beneficial ownership (shares) | 216,262; less than 1% of outstanding |
| Options exercisable within 60 days (as of April 15, 2025) | 202,178 |
| RSUs vesting within 60 days (deferred settlement) | 14,084 |
| Aggregate outstanding options (Dec 31, 2024) | 314,113 |
| Aggregate outstanding RSUs (Dec 31, 2024) | 43,128 |
| Director stock ownership guideline | 4x Board cash retainer; counts vested in-the-money options; five-year compliance window; maintain 50% of net shares if out of compliance |
| Hedging/pledging policy | Prohibits hedging/pledging; insider trading policy enforced |
Governance Assessment
- Board effectiveness: Carey’s independent Chair role and leadership of the Nominating & Corporate Governance Committee strengthen oversight, director evaluations, succession planning, and governance policies (e.g., overboarding and tenure guidelines) .
- Independence and engagement: Formally independent; attended ≥75% of meetings; chairs executive sessions of independent directors, enhancing independent deliberation .
- Compensation alignment: Director pay is equity-heavy (annual RSU and options, plus Chair option), with clear vesting and no tax gross-ups; options priced at fair market value and no repricing without shareholder approval, supporting investor-friendly practices .
- Ownership alignment: Stock ownership guidelines (4x cash retainer) and counting vested in-the-money options encourage skin-in-the-game; beneficial ownership and option positions indicate meaningful exposure to share price outcomes .
- Conflicts and red flags: No related-party transactions or Section 16 issues disclosed for Carey; company policies prohibit hedging/pledging and require Audit Committee review of any related-person transactions. Concentrated investor positions (Casdin/Viking) are disclosed but not Carey-specific; oversight policies in place .
RED FLAGS: None disclosed for Carey (no related-party transactions, no hedging/pledging exceptions, no delinquent filings noted). Board concentration risks are managed under formal related-party review policies .