John Sakys
About John Sakys
John V. Sakys is Vice President and Chief Financial Officer of Mesa Laboratories, Inc., serving since October 2012. He earned a B.A. in Business Economics (accounting emphasis) from the University of California, Santa Barbara in 1990 and is a Certified Public Accountant; his age was 55 as of the company’s 2023 proxy . In FY2025, management cites his contributions to financial planning, capital structure refinancing, ERP integration, and controls improvements; company adjusted operating income rose 106% year-over-year, while the five-year “pay vs performance” TSR metric showed Mesa at $53.50 versus peers at $55.41 for a $100 initial investment by FY2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mesa Laboratories, Inc. | VP & Chief Financial Officer | Oct 2012–present | Led FP&A, capital structure refinancing, ERP integration, controls enhancements |
| The Berry Company, LLC / Local Insight Regatta Holdings, Inc. | VP & Chief Accounting Officer (various roles) | 2009–Oct 2012 | Senior finance leadership at directory publishing firm |
| Isonics Corporation (Nasdaq) | VP & Chief Financial Officer | 2001–2009 | Public-company CFO experience in Denver area |
| AuraServ Communications | Controller | Sep 2000–Apr 2001 | Corporate controllership |
| Media One, Inc. | Director of Financial Reporting | Jul 1998–Sep 2000 | SEC and external reporting |
| Ernst & Young LLP | Audit Manager | Dec 1994–Jul 1998 | Assurance and audit leadership |
External Roles
No public company directorships or external board roles disclosed for Mr. Sakys in recent filings.
Fixed Compensation
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Base Salary (Actual Paid) | $443,077 | $452,000 | $474,327 |
| Base Salary Rate (Set by Committee) | — | — | $479,000 (effective Jun 1, 2024) |
| All Other Compensation (401k match) | $15,115 | $12,688 | $14,091 |
Performance Compensation
Short-Term Incentive Plan (STIP)
| Executive | Fiscal Year | Bonus Target ($) | CPF (%) | IPF (%) | Payout % (CPF×IPF) | Actual Bonus ($) |
|---|---|---|---|---|---|---|
| John Sakys | FY2024 | $294,000 | 40% | 100% | 40% | $117,600 |
| John Sakys | FY2025 | $311,000 | 140% | 100% | 140% | $435,400 |
Notes: CPF reflects company financial metrics (revenues and adjusted operating income); IPF is an executive-specific modifier up to ±30% (CEO not subject to IPF). For FY2025, Sakys’ IPF recognized his role in AOI growth, governance, ERP integration of GKE, and refinancing of credit facility .
Long-Term Incentives (LTI) – Grant Mix and 2025 Awards
| Award Type | Weighting | Grant Date | Metric & Performance Window | Vesting | Sakys Target/Units | Grant Date Fair Value ($) |
|---|---|---|---|---|---|---|
| PSUs | 50% | Jun 18, 2024 | 50% cumulative GAAP Revenues (Apr 1, 2024–Mar 31, 2027); 50% Relative TSR vs S&P Composite 1500 Healthcare (Jun 18, 2024–Jun 18, 2027) | Cliff vest Jun 18, 2027; 0% payout if revenues <92.5% target or TSR <25th percentile | Target 7,314; Max 14,628 | $750,205 |
| RSUs (time-based) | 50% | Jun 18, 2024 | Time-based | Pro-rata vest on Jun 18, 2025/2026/2027 | 8,351 units | $750,087 |
FY2025 PSU Performance Curves:
| Metric | Weight | Threshold | Target | Maximum |
|---|---|---|---|---|
| Total GAAP Revenues | 50% | $678.1M | $733.1M | $788.1M |
| Relative TSR (vs S&P 1500 Healthcare) | 50% | 25th percentile | 50th percentile | 75th percentile+ |
Shift in equity mix: For FY2025, Mesa moved from RSUs+options to RSUs+PSUs, eliminating options and emphasizing relative TSR to strengthen shareholder alignment .
Options Awards (Outstanding as of Mar 31, 2025)
| Grant Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| Jun 21, 2023 | 1,911 | 3,708 | 131.67 | Jun 21, 2029 |
| Jun 15, 2022 | 3,468 | 1,735 | 185.57 | Jun 15, 2028 |
| Sep 1, 2021 | 4,933 | — | 268.85 | Sep 1, 2027 |
| Jun 15, 2020 | 3,951 | — | 226.72 | Jun 15, 2026 |
| Jun 10, 2019 | 4,087 | — | 203.54 | Jun 10, 2025 |
As of Mar 31, 2025, all stock options were out-of-the-money, implying zero intrinsic value and limited near-term exercise pressure .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | 39,366 shares; <1% of class (based on 5,455,437 outstanding as of Jun 3, 2025) |
| Unvested RSUs (as of Mar 31, 2025) | 8,351 units; market value $990,930 (at $118.66) |
| Unearned PSUs (as of Mar 31, 2025) | 6,276 units (TSR) – $744,710; 4,176 units (GAAP revenue) – $495,524 |
| Options (summary) | See table above; all out-of-the-money as of Mar 31, 2025 |
| Stock Ownership Guidelines | Executives must hold 3× base salary; all executives comply or are on track; RSUs count, options/uneamed PSUs do not |
| Hedging/Pledging | Prohibited for all employees, officers, directors |
| Clawback Policy | Executive incentive compensation subject to recoupment upon accounting restatement per SEC/Nasdaq rules (adopted Oct 2023) |
Employment Terms
| Provision | Without Cause / Good Reason | Change-in-Control (termination within 3 months before or 24 months after) |
|---|---|---|
| Cash Severance | 12 months base salary + 1× target bonus; plus pro-rata bonus at greater of actual or target | 24 months base salary + 2× target bonus (lump sum); plus pro-rata bonus |
| Benefits Continuation | 24 months employer-paid portion of health plan premiums | 24 months employer-paid portion of health plan premiums |
| Equity Treatment | >3-year vesting awards fully vest; ≤3-year vesting awards due within next 12 months vest; PSUs vest at higher of actual or target | All unvested equity immediately vests; performance awards earned at higher of actual-to-date or target; options typically remain exercisable for full term (subject to deal terms) |
| Estimated Payouts (as of Mar 31, 2025) | Cash $790,000; Equity $2,205,257; Benefits $51,584; Total $3,046,841 | Cash $1,580,000; Equity $2,988,808; Benefits $51,584; Total $4,620,392 |
| Normal Retirement | Broad continuation: service-based restrictions lapse; performance awards earned at actual achievement; options remain exercisable for full term, subject to award agreements | |
| Restrictive Covenants | Awards and post-termination rights conditioned on compliance; company may recoup/forfeit gains for violations; clawback per listing rules |
Agreement terms are indefinite and continue until terminated; severance subject to release of claims .
Performance & Track Record
- FY2025 achievements cited for Sakys: supported operating income increase of 106% YoY; improved governance/internal controls; led ERP integration of GKE; refinanced credit facility to service convertible debt .
- Pay vs Performance: FY2025 company TSR value was $53.50 on a fixed $100 investment (peer group $55.41); adjusted operating income $54.0M; GAAP net loss $(1.974)M .
- Shareholder say-on-pay approval was 94.6% at the 2024 annual meeting, with FY2025 program changes adding 3-year PSU periods and 50% weighting to standalone relative TSR .
Compensation Structure Analysis
- Mix shift to 50% PSUs and 50% RSUs; eliminated options in FY2025—reduces risk, enhances shareholder alignment via TSR .
- STIP payouts moved from 40% of target in FY2024 to 140% in FY2025, reflecting stronger company CPF outcomes; Sakys’ IPF at 100% each year .
- Ownership guidelines enforced; hedging/pledging bans; clawback policy in place—strong alignment and governance .
- Peer group refreshed for FY2025 to better match Mesa’s life sciences tools profile; targets aligned generally to market median .
Compensation Peer Group (FY2025 design context)
Adaptive Biotechnologies; Artivion; Azenta; BioLife Solutions; Codexis; Cryoport; Cytek Biosciences; Haemonetics; Harvard Bioscience; Inogen; LeMaitre Vascular; Maravai LifeSciences; Neogen; NeoGenomics; Quanterix; Standard BioTools; Veracyte (new additions noted) .
Equity Award and Vesting Schedule Detail (Near-Term Selling Pressure Indicators)
- RSUs granted Jun 18, 2024 vest pro-rata on Jun 18, 2025/2026/2027 (8,351 units total for Sakys) .
- PSUs cliff-vest on Jun 18, 2027, with performance windows through Mar/Jun 2027; as of Mar 31, 2025, unearned PSU units presented at estimated achievement (revenue at 100%, TSR at 200%) for disclosure purposes .
- All options out-of-the-money as of Mar 31, 2025, limiting exercise-related selling .
Related Policies and Red Flags Checklist
- Hedging/pledging prohibited; no option repricing without shareholder approval; minimum one-year vesting for awards (95% of shares subject to minimum) .
- No tax gross-ups; minimal perquisites; no deferred compensation plans for executives .
- Insider ownership: Sakys <1% of shares; RSUs counted toward guideline, options/uneamed PSUs do not .
Investment Implications
- Alignment: Strong pay-for-performance via 3-year PSUs split between GAAP revenue and relative TSR; ownership guidelines, clawback, and anti-hedging/pledging policies reinforce alignment .
- Retention/pressure: Upcoming RSU vest dates (2025–2027) and cliff PSU vest in 2027 provide retention hooks; options currently OTM reduce exercise-driven selling risk .
- M&A/change-of-control: Double-trigger severance and immediate equity vesting could create meaningful executive payouts; investors should consider potential dilution/overhang from accelerated PSU/RSU settlement in event-driven scenarios .
- Performance execution: FY2025 STIP at 140% and AOI up 106% highlight operational momentum; however, TSR underperformed the FY2025 peer group cumulative benchmark, making PSU TSR outcomes a key monitoring point through 2027 .