Rebecca Buzzeo
MARAVAI LIFESCIENCES HOLDINGSAbout Rebecca Buzzeo
Executive Vice President and Chief Commercial Officer at Maravai LifeSciences (MRVI) from November 6, 2023, after serving as SVP, Chief Commercial Officer and Chief Operating Officer, Nucleic Acid Services since October 17, 2022; her role was eliminated on August 7, 2025 with last day expected September 2, 2025 . She holds a BS in Biology from Slippery Rock University . During her tenure, company-level performance weakened: for the six months ended June 30, 2025 revenue was $94.2 million, down 29.5% year-over-year, and Adjusted EBITDA was $(21.0) million; Q2 2025 Adjusted EBITDA was $(10.4) million versus $13.0 million in Q2 2024, and leadership transitions led to forfeited executive stock awards of $3.3 million . Maravai withdrew FY2025 revenue guidance in August 2025 amid CEO/CFO transitions and a comprehensive business review .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Maravai LifeSciences | EVP & Chief Commercial Officer | Nov 6, 2023 – Sep 2, 2025 | Role expanded materially since 2023 award; commercial leadership across segments |
| Maravai LifeSciences | SVP, Chief Commercial Officer & COO, Nucleic Acid Services | Oct 17, 2022 – Nov 5, 2023 | Commercial operations and nucleic acid services leadership |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thermo Fisher Scientific | VP & GM, Advanced Therapies | Oct 2021 – Sep 2022 | Led advanced therapies business |
| Thermo Fisher Scientific | VP, Commercial Operations, Advanced Therapies | Jun 2021 – Oct 2021 | Commercial operations leadership |
| Thermo Fisher (Brammer Bio) | Head of Commercial Operations | Aug 2019 – Oct 2021 | Biologics CDMO commercial leadership |
| Thermo Fisher (Patheon Biologics) | Senior Director, Global Business Development | Jan 2018 – Aug 2019 | Global BD for biologics |
| Thermo Fisher | Global Commercial Director – Cell Biology | Apr 2014 – Jan 2019 | Cell biology commercial leadership |
| Life Technologies | District Manager | Jul 2010 – Jun 2014 | Regional commercial leadership; joined Thermo Fisher via acquisition |
Fixed Compensation
| Metric (FY2024) | Amount ($) | Notes |
|---|---|---|
| Base Salary | 465,231 | Reported in 2024 Summary Compensation Table |
| Bonus (IPF discretionary) | 46,800 | Individual Performance Factor (IPF) discretionary component |
| Non-Equity Incentive (CPF) | 94,536 | Company Performance Factor (CPF) payout |
| Stock Awards (RSUs grant-date fair value) | 1,853,113 | Granted under 2020 Omnibus Plan |
| Total Compensation | 2,459,680 | Sum of reported elements |
| Annual Bonus CPF Threshold | 28,080 | CPF component only |
| Annual Bonus CPF Target | 187,200 | CPF component only; metrics below |
| Annual Bonus CPF Maximum | 374,400 | CPF component only |
Performance Compensation
| Metric (FY2024 Annual Bonus) | Weighting | Target | Actual | Payout ($) | Vesting/Timing |
|---|---|---|---|---|---|
| Revenue | 70% | Not disclosed | Not disclosed | Included in CPF payout of $94,536 | Annual cash; no vesting |
| Adjusted EBITDA | 30% | Not disclosed | Not disclosed | Included in CPF payout of $94,536 | Annual cash; no vesting |
| IPF (Discretionary) | 20% of total bonus opportunity for NEOs other than CEO | Not applicable | Not applicable | $46,800 | Annual cash; no vesting |
| 2024 RSU Grant | N/A (time-based) | 288,198 units | N/A | Grant-date fair value $1,853,113 | Vests 50% on Jan 15, 2025 and 50% on Jan 15, 2026 |
The Compensation & Leadership Development Committee shortened RSU vesting from three tranches over three years to two tranches over two years to support continuity following 2023 leadership transitions .
Equity Ownership & Alignment
| Beneficial Ownership (as of Mar 24, 2025) | Shares | Ownership % of Class A | Notes |
|---|---|---|---|
| Class A Common Stock | 231,410 | Less than 1% (asterisk) | As reported in beneficial ownership table |
| Outstanding Equity Awards (as of Dec 31, 2024) | Quantity | Economics | Vesting/Status |
|---|---|---|---|
| RSUs (Granted 1/16/2024) | 288,198 | Market value $1,570,679 at $5.45 close | 50% vest Jan 15, 2025; 50% vest Jan 15, 2026 |
| RSUs (Granted 3/15/2023) | 28,434 | Market value $154,965 | Service-based; schedule not detailed in proxy chunk |
| RSUs (Granted 11/15/2022) | 14,377 | Market value $78,355 | Service-based; schedule not detailed in proxy chunk |
| Options (3/15/2023) | 37,187 exercisable; 47,813 unexercisable | Strike $15.52; expire 3/15/2033 | Standard option terms |
| Options (11/15/2022) | 39,274 exercisable; 36,132 unexercisable | Strike $14.99; expire 11/15/2032 | Standard option terms |
| Alignment Policies | Requirement | Status/Notes |
|---|---|---|
| Stock Ownership Guidelines | Level 23 executive: 1.5x base salary; must hold 50% of net shares from awards until compliant; counts unvested time-based RSUs; excludes options/PSUs | Compliance status not disclosed |
| Anti-Hedging & Anti-Pledging | Hedging prohibited; pledging/margin accounts prohibited | No pledging permitted |
| Clawback Policy | Adopted Oct 2, 2023; recovers incentive-based comp for 3 prior fiscal years upon any required accounting restatement (no misconduct needed) | Applies to current/former executive officers |
Executive leadership transitions in Q2 2025 resulted in forfeited stock awards totaling $3.3 million, reducing future insider selling pressure at the margin .
Employment Terms
| Provision | Non-Change in Control (as of 12/31/2024) | Change in Control (as of 12/31/2024) | Notes |
|---|---|---|---|
| Cash Severance | $702,000 | $1,638,000 | Payable in installments; includes Earned and Pro Rata Bonus Severance per agreement |
| Continued Health Benefits (COBRA) | $7,964 | $11,946 | Duration up to 12 months (non-CIC) or 18 months (CIC) |
| Accelerated Equity Vesting Value | N/A | $1,803,999 | RSUs (and options if applicable) accelerate upon double-trigger within two years of change in control |
| Restrictive Covenants | N/A | N/A | Perpetual confidentiality; non-compete during employment; non-solicit for one year post-termination; release required to receive severance |
| Termination Event (2025) | Terminated without “cause” due to role elimination; last day Sept 2, 2025 | N/A | Entitled to Section 1(f)(i) severance under Amended & Restated Employment Agreement (May 8, 2023), subject to release |
Option repricing is prohibited without shareholder approval; options are granted at closing market price on grant date . Say‑on‑pay received 97.83% support in 2024 .
Investment Implications
- Role elimination and termination without cause trigger contractual cash severance and benefits; no equity acceleration absent a change-in-control, and Q2 2025 disclosures indicate executive award forfeitures, reducing near-term insider supply pressure .
- RSUs granted in 2024 vest on Jan 15, 2025 and Jan 15, 2026; given separation on Sept 2, 2025 and no CIC, unvested tranches likely did not accelerate under standard terms, consistent with reported forfeitures tied to leadership transitions .
- Alignment policies (no hedging/pledging; ownership guidelines requiring 1.5x salary with mandatory holding of 50% of net shares until compliant; clawback in place) mitigate misalignment and governance risk; compliance status for guidelines is not disclosed .
- FY2024 pay featured heavy equity via time-based RSUs (retentive focus), with cash incentives tied to Revenue (70%) and Adjusted EBITDA (30%); discretion via IPF suggests committee flexibility amid transitions, but committee states no option repricing and strong shareholder support for compensation design (97.83%) .