Thomas R. Staab, II
About Thomas R. Staab, II
Thomas R. Staab, II is Chief Financial Officer and Secretary of LENSAR, Inc., serving since May 2020; he is 58 years old as of November 5, 2025 . He previously held CFO roles at BioCryst Pharmaceuticals (2011–2020) and Inspire Pharmaceuticals (2003–2011), and was acting CFO at Triangle Pharmaceuticals prior to its acquisition by Gilead Sciences (2003); earlier he spent eight years at PricewaterhouseCoopers and is a CPA with BSBA and Master of Accounting from UNC Chapel Hill . Company performance context during his tenure shows revenues growing from $35.36M in FY2022 to $53.49M in FY2024, with EBITDA losses narrowing over the same period (see table below). Revenue growth has been embedded directly in 2024 PSUs via trailing one-year revenue hurdles of $75M and $100M, linking equity outcomes to topline execution .
Company Performance (context)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $35,358,000 [*] | $42,164,000 [*] | $53,494,000 [*] |
| EBITDA ($USD) | $(16,771,000)* | $(8,714,000)* | $(4,373,000)* |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BioCryst Pharmaceuticals, Inc. | SVP, CFO & Treasurer | 2011–2020 | Led finance at a public biopharma through portfolio and capital market cycles |
| Inspire Pharmaceuticals | EVP, CFO & Treasurer | 2003–2011 | CFO through company’s acquisition by Merck in May 2011 |
| Triangle Pharmaceuticals, Inc. | Acting CFO & Treasurer | Through 2003 | CFO role through sale to Gilead Sciences in 2003 |
| PricewaterhouseCoopers LLP | Audit & Business Advisory | ~8 years | Big Four audit/advisory foundation across multi-national clients |
External Roles
No current external directorships or committee roles disclosed for Mr. Staab .
Fixed Compensation
| Component | 2023 | 2024 |
|---|---|---|
| Base Salary (paid) | $383,362 | $398,179 |
| Base Salary Rate (approved) | $384,000 (as of 1/11/2023) | $399,400 (effective 1/22/2024) |
Performance Compensation
Annual Bonus (Cash)
| Year | Target Bonus % of Salary | Corporate Goal Achievement | Actual Bonus Paid ($) | Notes |
|---|---|---|---|---|
| 2023 | 50% | 103% of target | $197,760 | Based on financial, manufacturing, R&D, operational objectives |
| 2024 | 50% | 128% of target | $255,591 | Based on similar corporate objectives; approved Feb 2025 |
2024 Equity Grants and Vesting Conditions
| Award Type | Grant Date | Shares Granted | Vesting Schedule | Performance Condition |
|---|---|---|---|---|
| RSUs | May 6, 2024 | 19,000 | 25% annually on each grant anniversary over 4 years | Service-based only |
| PSUs | May 6, 2024 | 19,000 | Eligible through Dec 31, 2026/2027 windows | 50% vests if trailing one-year revenues ≥ $75M by any quarter ending on/before 12/31/2026; remaining 50% vests if trailing one-year revenues ≥ $100M by any quarter ending on/before 12/31/2027 |
Outstanding Equity (as of 12/31/2024)
| Grant | Type | Unvested Units (#) | Unvested PSUs (#) | Exercisable Options (#) | Unexercisable Options (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|---|---|---|
| Apr 12, 2021 | Options | — | — | 45,097 | 4,100 | 6.91 | Apr 12, 2031 |
| Jan 11, 2022 | RSUs | 7,500 | — | — | — | — | — |
| Jan 11, 2022 | Options | — | — | 38,281 | 14,219 | 6.04 | Jan 11, 2032 |
| Jan 11, 2023 | RSUs | 4,992 | — | — | — | — | — |
| Jan 11, 2023 | Options | — | — | 7,662 | 12,133 | 2.65 | Jan 11, 2033 |
| May 6, 2024 | RSUs | 19,000 | — | — | — | — | — |
| May 6, 2024 | PSUs | — | 19,000 | — | — | — | — |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (common) | 253,356 shares; 2.1% of outstanding as of Oct 24, 2025 |
| Options within 60 days | 3,159 options exercisable within 60 days of Oct 24, 2025 |
| Vested but unexercised options | 110,930 shares underlying vested but unexercised options |
| Anti-hedging policy | Hedging transactions prohibited for officers/directors/employees |
| Pledging | No explicit pledging disclosure noted in proxy; not disclosed |
Employment Terms
| Provision | Without CIC (termination without cause / good reason) | With CIC (termination within 12 months of CIC) |
|---|---|---|
| Cash severance | 9 months base salary + 75% of target bonus + 9 months COBRA | 12 months base salary + 100% of target bonus + 12 months COBRA |
| Equity acceleration | Time-based awards accelerated to the portion that would vest in 9 months post-termination | Full acceleration of all time-based awards |
| Conditions | Release of claims; compliance with restrictive covenants | Release of claims; compliance with restrictive covenants |
| Clawback | Dodd-Frank/Nasdaq-compliant clawback policy effective Oct 2, 2023 | |
| Definitions | “Cause” and “Good reason” defined (material breach, misconduct; material diminution of duties; salary/location changes) |
Other Compensation Elements (perqs/gross-ups)
- 2024: commuting reimbursements of $14,341 and related tax gross-up of $5,843 included in “All other compensation” .
- 2023: commuting reimbursements of $12,903 and related tax gross-up of $5,322 included in “All other compensation” .
Compensation Structure Analysis
- Cash vs equity mix in 2024: salary ($398,179), RSUs/PSUs ($121,980 FV), bonus ($255,591); equity moved from options (2023) to RSUs/PSUs in 2024—lower-risk equity mix emphasizing revenue milestones (PSUs) .
- Bonus rigor: 2024 objectives paid at 128% of target; target bonus = 50% of salary for CFO, with board assessment of predefined goals (financial/manufacturing/R&D/operations) .
- Equity performance alignment: PSUs hinge on trailing revenue hurdles ($75M and $100M), directly tying vesting to growth scale-up milestones .
- No broad tax gross-ups; limited perq commuting gross-ups noted (shareholder-unfriendly but small dollar amounts) .
Investment Implications
- Alignment: PSU structure directly links pay to revenue scale milestones—positive for pay-for-performance; RSU spread over four years supports retention .
- Selling overhang: Ongoing annual RSU vesting (19,000 units) and sizable vested but unexercised options (110,930) may create periodic supply, though anti-hedging rules reduce downside-alignment risks; no pledging disclosed .
- Retention risk: Severance/CIC terms are moderate (9–12 months base; 75–100% of target bonus; acceleration terms), providing stability without excessive golden parachute risk .
- Execution focus: Revenue growth trajectory (FY2022–FY2024) and PSU thresholds signal management confidence in scaling; investors should monitor quarterly trailing one-year revenue vs $75M/$100M hurdles to anticipate PSU vesting and potential dilution events .
Citations
- Executive bio, age, tenure, education:
- Summary Compensation Table (amounts):
- Base salary rate changes:
- Bonus program, target %, achievement, approval:
- RSU/PSU grants and vesting conditions:
- Outstanding equity awards (detail):
- Beneficial ownership and option footnotes:
- Anti-hedging policy:
- Employment letter severance/CIC terms; definitions:
- Clawback policy:
Note: EBITDA values marked with an asterisk above are retrieved from S&P Global.