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    William E. Martin

    Chief Executive Officer at Maravai LifeSciences Holdings Inc
    Since July 27, 2023
    Age
    49 years
    Education
    Holds a Bachelor of Science in Biochemistry from the University of Iowa.
    Tenure
    Joined MRVI in September 2022, initially serving as CEO before being placed on paid leave due to a legal dispute, then appointed as President of the Biologics Safety Testing operating division on December 05, 2022, and finally assumed the current CEO role on July 27, 2023.

    Also at Maravai LifeSciences Holdings Inc

    CD
    Christine Dolan
    Executive Vice President and General Manager, Cygnus Technologies
    KH
    Kevin Herde
    Chief Financial Officer (CFO)
    KO
    Kurt Oreshack
    Executive Vice President, General Counsel, and Secretary

    About

    William E. Martin, currently aged 49 as of March 25, 2024 , holds a Bachelor of Science in Biochemistry from the University of Iowa. His academic background provided the foundation for a long career in life sciences, beginning in March 1994 at Integrated DNA Technologies where he held various leadership roles over more than two decades.

    In his professional journey, he served as Chief Operating Officer at IDT and later took on senior roles at Danaher Corporation, including President of the IDT business and Senior Vice President of New Business – Genomic Medicine. These roles underscored his capability in steering business growth and innovation in genomic medicine.

    At MRVI, he first joined in September 2022, and despite an initial challenge that led to a brief tenure as CEO followed by a paid leave due to legal issues, his expertise led to his appointment as President of the Biologics Safety Testing operating division on December 05, 2022. Ultimately, his tenure was solidified with his appointment as the current CEO on July 27, 2023. His leadership is marked by a commitment to driving scientific breakthroughs and operational excellence at MRVI.

    $MRVI Performance Under William E. Martin

    Past Roles

    OrganizationRoleDate RangeDetails
    Maravai LifeSciences Holdings, Inc. President, Biologics Safety Testing operating division Dec 5, 2022 - Jul 27, 2023 Appointed after settlement of lawsuit regarding noncompetition agreement
    Maravai LifeSciences Holdings, Inc. Chief Executive Officer (interim) Sep 30, 2022 - Oct 18, 2022 Placed on paid leave of absence due to lawsuit
    Danaher Corporation Senior Vice President, New Business – Genomic Medicine Jul 2021 - Jul 2022 Joined after acquisition of IDT
    Danaher Corporation President of the IDT business Apr 2018 - Jul 2021 Served as President under Danaher’s ownership following IDT acquisition
    Integrated DNA Technologies Chief Operating Officer Mar 1994 - Apr 2018 Held various roles since 1994 and was COO at the time of acquisition
    Other Employers Not Disclosed N/A Involved in a lawsuit alleging violation of a noncompetition agreement; names undisclosed

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$750,000 AnnualFixed annual cash compensation
    Perquisites and Other Personal Benefits$228,714 AnnualCost for private aircraft use as per the aircraft bridge lease agreement
    Company Contributions to 401(k) Plan$9,150 AnnualMatching contributions to 401(k) plan

    Performance Compensation

    Data from  FY 2023

    Annual Bonus Opportunity

    MetricWeightThresholdTargetMaximum
    Revenue50% $368.64M $460.8M $552.96M
    Adjusted EPS50% $0.252 $0.42 $0.588

    Evaluation Period: Annual performance measurement for 2023. Linear interpolation applies between threshold, target, and maximum. If the threshold is not met for either metric, no bonus is payable for that portion.

    Equity Awards (Performance Stock Units – August 21, 2023)

    DetailValueAdditional Details
    Grant DateAug 21, 2023 Date on which the PSUs were granted
    Grant Date Fair Value$1,314,000 Fair value of the PSUs awarded in 2023
    Grant Date Stock Price$10.48 Closing price on the grant date
    Vesting Condition (Tier 1)50,000 PSUsVest when 60-day volume-weighted average price is at least $15 (43% increase from grant date)
    Vesting Condition (Tier 2)125,000 PSUsVest when price reaches $25 (139% increase from grant date)
    Vesting Condition (Tier 3)125,000 PSUsVest when price reaches $30 (186% increase from grant date)
    Employment ConditionContinued employmentMust remain employed through Aug 21, 2026
    Change in ControlConversion to time-based RSUsIn the event of a Change in Control, PSUs convert to RSUs that vest on Aug 21, 2026

    Additional Details: The PSUs are linked to the 60-day volume-weighted average stock price. The performance targets and vesting conditions are designed to align Mr. Martin's compensation with long-term shareholder value creation.