John DeFord
MARAVAI LIFESCIENCES HOLDINGSAbout John DeFord
John DeFord, PhD (age 63) is an independent director at Maravai LifeSciences (MRVI), serving since July 2023; he sits on the Audit Committee and the Compensation and Leadership Development Committee and became Chair of the Compensation and Leadership Development Committee in June 2024 . He brings 35+ years in medical technology, including EVP/Chief Technology Officer at Becton Dickinson (2018–May 2021), senior leadership at Bard, venture experience, and CEO roles, with a PhD/MS/BS in Electrical/Biomedical Engineering from Purdue University . The Board has determined he is independent under Nasdaq rules, and he meets heightened independence for audit-committee service .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| Becton, Dickinson and Company | Executive Vice President & Chief Technology Officer | June 2018 – May 2021 | Senior-most technology leadership at a global medtech company . |
| Becton, Dickinson (post-Bard acquisition) | SVP, R&D for Interventional Segment | From Dec 2017 acquisition | Led R&D integration and strategy in interventional segment . |
| C.R. Bard, Inc. | Senior Vice President, Science, Technology and Clinical Affairs (various roles since 2004) | Jan 2004 – Dec 2017 (until BD acquisition) | Drove science/technology portfolio across a major medtech franchise . |
| Early Stage Partners | Managing Director | Prior to Bard (dates not disclosed) | Venture investing, early-stage innovation oversight . |
| Cook Incorporated | President & Chief Executive Officer | Prior to Early Stage Partners (dates not disclosed) | Operated a medical device manufacturer . |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Samothrace Medical Innovations, Inc. | Chairman, CEO & President | March 2022 | Returned from retirement to lead a medical technology company . |
| Nordson Corporation | Director | Not disclosed | Public company board service (precision technology) . |
| Globus Medical Inc. | Director | Not disclosed | Public company board service (medical device) . |
| Number of other current public company boards | 2 | As of proxy | Board skills matrix shows DeFord with 2 other boards . |
Board Governance
- Committee assignments (MRVI): Audit Committee member; Compensation & Leadership Development Committee Chair (since June 2024) .
- Independence: Board determined DeFord is independent under Nasdaq rules; he also meets the heightened audit-committee independence requirements; he is independent for compensation-committee service .
- Attendance & engagement: In 2024, the Board met 8 times; Committees met (Audit 7; Compensation 6; Nominating 4). Each director attended at least 75% of Board and applicable committee meetings; all then-serving directors attended the 2024 Annual Meeting .
- Controlled company context: Maravai is a “controlled company” under Nasdaq (GTCR control). MRVI relies on exemptions such that the Compensation and Nominating committees are not comprised entirely of independent directors (though each has a majority of independent directors) .
- Compensation Committee processes (under DeFord’s chairmanship): Uses Meridian Compensation Partners as independent advisor; the committee reviewed peer group, plan design, and market competitiveness; no conflicts noted for the consultant . The committee signed the CD&A report (DeFord as Chair) .
Fixed Compensation (Director)
| Component | Amount/Terms | Source |
|---|---|---|
| Annual Board cash retainer | $60,000 | |
| Committee chair fees | Compensation & Leadership Development Chair: $20,000; Audit Chair: $25,000; Nominating Chair: $15,000 | |
| Committee member fees | Audit member: $12,500; Compensation member: $10,000; Nominating member: $7,500 | |
| 2024 cash fees actually paid to DeFord | $87,500 | |
| 2024 equity grant (RSUs) to DeFord | $222,553 grant-date fair value | |
| Vesting of annual director RSUs | Vest at earlier of one year or next Annual Meeting, subject to continued service |
Notes: DeFord’s cash fee total reflects his 2024 board/committee service mix; policy rates are shown above, and reported actual cash fees for 2024 were $87,500 .
Performance Compensation (Director)
- Directors receive time-based RSUs (no performance metrics); 2024 Annual Grants targeted ~US$200,000 FMV (20-day VWAP basis), vesting at the earlier of one year or the next Annual Meeting, contingent on continued service .
- DeFord’s reported 2024 stock award value was $222,553; no options or performance-based director awards were disclosed .
Other Directorships & Interlocks
| Company | Role | Committee Roles (if any) | Interlock/Conflict Notes |
|---|---|---|---|
| Nordson Corporation | Director | Not disclosed | No MRVI-related transactions disclosed in proxy -. |
| Globus Medical Inc. | Director | Not disclosed | No MRVI-related transactions disclosed in proxy -. |
- Compensation committee interlocks: Company disclosed no interlocking relationships between its Board/Compensation Committee and those of other companies .
Expertise & Qualifications
- Executive/technology leadership in global medtech (BD CTO; senior roles at Bard; CEO experience at Cook Inc.) .
- Board leadership and compensation oversight experience; chairs MRVI’s Compensation & Leadership Development Committee .
- Deep R&D and clinical affairs experience; venture investing background .
- Education: PhD in Electrical/Biomedical Engineering; MS and BS in Electrical Engineering (Purdue University) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Beneficial ownership (Class A) | 48,779 shares | As of March 24, 2025; percentage not material (*) . |
| Unvested RSUs (from appointment grant) | 21,267 units | Vest in equal installments on July 20, 2025 and July 20, 2026, subject to service . |
| Unvested RSUs (2024 Annual Award) | 20,645 units | Vest on the date of the 2025 Annual Meeting, subject to service . |
| Anti-hedging/pledging | Prohibited under Insider Trading Policy | Applies to directors; mitigates hedging/pledging risk . |
| Director ownership guideline | 4x annual board cash retainer | Adopted July 2023; compliance status not individually disclosed . |
Governance Assessment
- Strengths:
- Independent director meeting heightened audit-committee independence requirements; serves on Audit and chairs Compensation .
- Demonstrated engagement: company-wide disclosure that each director met ≥75% attendance; all attended 2024 Annual Meeting .
- Robust processes: independent compensation consultant (Meridian) with no conflicts; CD&A oversight and report signed by DeFord (Chair) .
- Anti-hedging/pledging policy and director stock ownership guidelines support alignment .
- 2024 Say-on-Pay support was 97.83%, suggesting positive shareholder sentiment toward compensation oversight during the period .
- Watch items / potential red flags:
- Controlled company status: MRVI relies on exemptions so Compensation and Nominating committees are not entirely independent, although they remain majority independent .
- Multiple outside public boards (2) increase time commitments; continued strong attendance will remain important for investor confidence .
- Related-party/Conflict check:
- Audit Committee oversees related-party transactions under a written policy; proxy discloses GTCR-related arrangements and a Curia Global commercial relationship, but no related-party transactions are disclosed involving DeFord personally -.
Board Governance (Detail Table)
| Attribute | Status/Detail | Source |
|---|---|---|
| Director class/term | Class II; nominee for term expiring at 2028 Annual Meeting | |
| Committees | Audit (member); Compensation & Leadership Development (Chair) | |
| Independence | Independent director; meets heightened audit independence | |
| 2024 meetings held | Board 8; Audit 7; Compensation 6; Nominating 4 | |
| Attendance | Each director ≥75% of Board/committee meetings; all attended 2024 AGM | |
| Controlled company reliance | Comp and Nominating committees not entirely independent (majority independent) |
Director Compensation (2024 Detail)
| Component | Amount | Vesting/Notes |
|---|---|---|
| Cash fees (Board/Committees) | $87,500 | Reported 2024 fees for DeFord . |
| Equity (RSUs) | $222,553 grant-date fair value | Annual grant; generally vests by next AGM/1-year . |
| Additional unvested RSUs from appointment | 21,267 units | Vest 50% on July 20, 2025 and 50% on July 20, 2026 . |
Related Policies and Controls
- Clawback policy adopted effective October 2, 2023 (Dodd-Frank-compliant) for executive incentive-based compensation; Compensation Committee administers clawback policies .
- Shareholder engagement: say-on-pay held annually; 2024 support 97.83% .
- No compensation committee interlocks disclosed .
- Indemnification agreements in place with all directors .