Greg D. Aunan
NEOGENOMICSAbout Greg D. Aunan
Greg D. Aunan is Chief Accounting Officer (principal accounting officer) at NeoGenomics, age 55, having joined in April 2023 and appointed CAO effective May 15, 2023; he has 20+ years of progressive accounting and auditing experience, is a licensed CPA, and holds an MBA (Drake University) and BBA (University of Iowa) . Company performance during his tenure improved materially: 2024 revenue was $660.6m (+11.6% YoY), and adjusted EBITDA reached ~$39.6m (over 1,000% improvement vs prior year), while total shareholder return for a hypothetical $100 was $56 in 2024, reflecting stock performance context for compensation alignment . He signed the company’s 2024 Form 10-K in his capacity as principal accounting officer on Feb 18, 2025, underscoring his accountability for financial reporting .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NeoGenomics, Inc. | SVP, Accounting & Treasury → Chief Accounting Officer | Apr 2023–present | Principal accounting officer overseeing reporting and controls . |
| HMS Holdings Corp. | SVP & Chief Accounting Officer | Jun 2015–Jul 2021 | Led public company accounting; prior HMS experience linked to a sale at $3.4B noted in CFO narrative context, but CAO role detailed here . |
| Locke Lord LLP | Chief Financial Officer | Mar 2013–Dec 2014 | Oversaw finance at an international law firm . |
| KPMG LLP | Audit Partner | 1996–Feb 2013 (partner from 2008) | Led audits; extensive accounting/auditing experience (consumer/retail focus) . |
External Roles
Not disclosed for Aunan in company filings; no related-party transactions or family relationships with officers/directors .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $360,000 | Per Offer Letter; effective on appointment as CAO . |
| Target Bonus | 40% of base salary | Contingent on metrics approved annually by CFO/CEO . |
Performance Compensation
| Equity/Bonus Element | Grant/Metric | Structure | Vesting/Outcome |
|---|---|---|---|
| Initial Equity Grant | $450,000 | 50% restricted stock; 50% stock options | Vests ratably over 4 years from grant date . |
| Annual Cash Incentive (MIP) | Performance-based bonus | Metrics set annually by CFO/CEO for CAO | Specific CAO outcomes not disclosed . |
| Company MIP Metrics (context) | Revenue (40%), Adjusted EBITDA (40), Strategic Critical Success Factors (10), Individual goals (10) | NEOs weighting (illustrative of program design) | 2024 performance factors: Revenue target $651.5m vs actual $660.6m → 118%; AEBITDA target $18.1m vs actual $39.6m → 200%; Corporate Performance Score 108% . |
Note: The company emphasized performance-based equity in 2025 via premium-priced options for executives generally, but individual grant types for the CAO beyond the 2023 grant are not disclosed here .
Equity Ownership & Alignment
- Stock ownership guidelines apply to executive officers, with retention requirements (retain 25% of net shares until guideline met; 100% if not met after five years); forms counted include directly owned shares, unvested restricted stock, and “in the money” vested options .
- Hedging/pledging is prohibited for all directors, officers, and employees, strengthening alignment and reducing risk of adverse trading practices .
- EIP governance: double-trigger change-in-control vesting (no automatic vesting on CIC), minimum 1-year vesting (with limited exceptions), no repricing without shareholder approval, no tax gross-ups, option exercise prices at/above fair market value .
Insider transactions: An attempt to retrieve Form 4 trading data for “Aunan” (NEO) using the insider-trades skill failed due to API authorization (401). As a result, current insider buying/selling and post-transaction holdings could not be assessed programmatically. We searched for recent Form 4 activity for “Aunan” at NEO in the 2023–2025 period via the skill and company documents; only governance-level policies and award structures were available [ReadFile: insider-trades SKILL.md] (fetch failed) .
Employment Terms
| Term | Detail |
|---|---|
| Start/Appointment | Joined Apr 2023; appointed CAO effective May 15, 2023 . |
| Offer Letter Date | March 27, 2023 (filed as Exhibit 10.1) . |
| Severance | If terminated without cause or in connection with change-in-control: 4 months of base salary plus COBRA premiums for 4 months . |
| Non-Compete | 12-month non-compete and non-solicit post-termination . |
| Clawback Policy | SEC/Nasdaq-compliant clawback: recovery of incentive-based comp for executive officers over 3 prior fiscal years upon an accounting restatement . |
| Change-in-Control Equity | Double-trigger; acceleration only with qualifying termination in connection with CIC per plan terms . |
| Repricing/Gross-ups | No repricing of options/SARs without shareholder approval; no tax gross-ups in EIP . |
Compensation Structure Analysis
- Year-over-year pay is balanced by a fixed salary and at-risk bonus/equity; CAO’s target bonus tied to annually approved performance metrics, aligning comp with operating outcomes .
- Company moved toward performance-heavy equity (premium-priced options) in 2024–2025 for executives, increasing sensitivity to shareholder value creation; EIP embeds minimum vesting and double-trigger CIC protection, limiting windfalls .
- 2024 corporate performance exceeded internal revenue and AEBITDA targets, supporting above-target payouts for NEOs; CAO-specific payouts are not disclosed .
Risk Indicators & Red Flags
- Strong governance mitigants: clawback, no hedging/pledging, double-trigger CIC, no repricing, no tax gross-ups .
- Say-on-pay received 69.5% approval in 2024, indicating some investor dissent on compensation history; the company engaged stockholders and updated program design, including enhanced disclosures and performance emphasis .
- Legal/regulatory matters exist at the company level (e.g., OIG/DOJ investigation disclosure in 2023 10-Q), but no CAO-specific proceedings are disclosed; related-party checks for Aunan were negative .
Investment Implications
- Retention risk appears moderate: severance equals 4 months salary and a 12-month non-compete; equity vests ratably over four years, promoting tenure yet avoiding oversized golden parachutes .
- Alignment is reinforced by prohibited hedging/pledging and ownership/retention guidelines; performance-centric MIP metrics (Revenue, AEBITDA) matched with 2024 outperformance support pay-for-performance credibility at the corporate level (CAO-specific payout undisclosed) .
- Governance protections (double-trigger CIC, clawback, no repricing/gross-ups) reduce shareholder risk of value transfer in adverse scenarios; ongoing investor engagement following 2024 say-on-pay provides oversight pressure on compensation practices .