William Ericson
PACIFIC BIOSCIENCES OF CALIFORNIAAbout William Ericson
Independent director since 2004; age 66 as of April 10, 2025. Founding Partner at Wildcat Venture Partners (since 2016, focused on Digital Health) and Managing Partner at Mohr Davidow Ventures (since 2000). Prior public company board: Adamas Pharmaceuticals, Inc. (2005–2021). Education: B.S.F.S. Georgetown University School of Foreign Service; J.D. Northwestern University School of Law .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wildcat Venture Partners | Founding Partner | 2016–present | Digital health investing focus |
| Mohr Davidow Ventures (MDV) | Managing Partner | 2000–present | Life sciences/molecular diagnostics focus |
| Adamas Pharmaceuticals, Inc. | Director | 2005–2021 | Public company board service |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Adamas Pharmaceuticals, Inc. | Director | 2005–2021 | Only public board disclosed; no current public boards disclosed |
Board Governance
| Committee | Role | Meetings in 2024 |
|---|---|---|
| Compensation | Chair | 9 |
| Corporate Governance & Nominating | Member | 4 |
| Audit | — | 7 (committee met; Ericson not listed) |
| Science & Technology | — | 4 (committee met; Ericson not listed) |
- Independence: Board determined Ericson is independent under Nasdaq rules; also independent for Compensation and Corporate Governance & Nominating committees .
- Attendance/Engagement: In 2024, Board held nine meetings; each director attended at least 75% of Board and committee meetings on which they served. All directors attended the 2024 Annual Meeting .
- Board structure: Board is being declassified; Class III nominees (including Ericson) serve one-year terms expiring at the 2026 annual meeting, moving to annual elections by 2027 .
Fixed Compensation
| Component | Amount ($) | Notes |
|---|---|---|
| 2024 Fees Earned (Ericson) | 59,000 | Actual cash paid |
| Annual Board Retainer (policy) | 40,000 | Paid quarterly in advance; no per-meeting fees |
| Compensation Committee Chair Retainer (policy) | 14,000 | Additional to board retainer |
| Corporate Governance & Nominating Member Retainer (policy) | 5,000 | Additional to board retainer |
| Director Compensation Mix | FY 2023 | FY 2024 |
|---|---|---|
| Fees earned or paid in cash ($) | 59,000 | 59,000 |
| Stock Awards ($) | — | 37,655 |
| Option Awards ($) | 199,996 | 37,656 |
| Total ($) | 258,996 | 134,311 |
Performance Compensation
| Policy Element | FY 2024 | FY 2025 |
|---|---|---|
| Annual Award for non-employee directors | $200,000 aggregate value of stock options and RSUs (ND shares) | $200,000 stock options only (ND shares; capped at 65,000 shares) |
| Share cap per Annual Award | 55,000 shares | 65,000 shares |
| Annual Award vesting | Not specified in 2024 disclosure | Options vest monthly over one year; or earlier on next annual meeting date |
| Initial Awards (new directors) | $450,000 (50% options, 50% RSUs); options vest 1/3 at 1-year then monthly over 24 months; RSUs vest 1/3 annually over 3 years | Unchanged |
| Ericson Equity Holdings and Grants | As of 12/31/2024 | 2025 Annual Meeting/June 2025 |
|---|---|---|
| RSUs Outstanding (#) | 22,821 | — |
| Stock Options Outstanding (#) | 280,353 | — |
| Stock Options Exercisable (#) | 264,263 | — |
| Annual Option Award Granted (#; price) | — | 65,000 options at $1.03 (Form 4, transaction date 2025-06-04) |
Other Directorships & Interlocks
| Company | Role | Tenure | Interlocks/Notes |
|---|---|---|---|
| Adamas Pharmaceuticals, Inc. | Director | 2005–2021 | No director interlocks among PACB Board members in 2024 |
Expertise & Qualifications
- Venture investor and operator across life sciences; focus on companies with molecular diagnostic platforms and personalized medicine .
- Legal and international policy training (Georgetown SFS B.S.F.S., Northwestern J.D.) .
- Long-tenured PACB director since 2004; continuity through product cycles and governance transitions .
Equity Ownership
| Holder | Number of Shares Beneficially Owned | Right to Acquire Shares (e.g., options exercisable within 60 days) | Total Beneficial Ownership | Percent of Class |
|---|---|---|---|---|
| William Ericson | 18,795 | 303,174 | 321,969 | * (<1%) |
Insider Trades (Form 4)
| Transaction Date | Filing Date | Type | Security | Quantity | Price ($) | Post-Transaction Ownership (#) | SEC Link |
|---|---|---|---|---|---|---|---|
| 2025-06-04 | 2025-06-06 | A – Award | Stock Option (right to buy) | 65,000 | 1.03 | 65,000 | |
| 2024-06-18 | 2024-06-20 | A – Award | Common Stock (RSUs) | 22,821 | 0.00 | 41,616 | |
| 2024-06-18 | 2024-06-20 | A – Award | Stock Option (right to buy) | 32,179 | 1.65 | 32,179 | |
| 2023-05-24 | 2023-05-26 | A – Award | Stock Option (right to buy) | 25,775 | 11.94 | 25,775 | |
| 2023-03-15 | 2023-03-17 | M – Exempt (option exercise) | Common Stock | 25,000 | 2.54 | 26,336 | |
| 2023-03-15 | 2023-03-17 | S – Sale | Common Stock | 7,541 | 8.90 | 18,795 | |
| 2023-03-15 | 2023-03-17 | M – Exempt | Stock Option (right to buy) | 25,000 | 2.54 | 0 |
Compensation Committee Analysis
- Committee membership: Ericson (Chair), Mohr, Milligan, Ordoñez .
- Independence: All members independent under Nasdaq standards .
- Consultant: Aon Human Capital Solutions advises on director compensation competitiveness .
- Clawback: Company adopted Compensation Recovery Policy (October 2023) applicable to awards under the 2020 Plan; awards subject to clawback/recoupment .
- Interlocks: None among PACB directors in 2024 .
Related Party Transactions and Conflicts
- Specific transactions disclosed in 2024 involve 4D Molecular Therapeutics (chairman Milligan) and Stanford University relationships (Livingston, Shapiro, Valantine); no related party transactions disclosed involving Ericson .
- Prohibitions: Company governance practices avoid margin accounts, hedging, pledging, derivatives or short sales in PACB stock, mitigating alignment and risk concerns .
Say-on-Pay & Shareholder Feedback
- June 2024 “say-on-pay” received favorable support with over 95% of votes cast approving NEO compensation; annual advisory votes held .
Governance Assessment
- Strengths: Independent status; chairs Compensation Committee; consistent attendance; robust equity alignment via annual option grants; adoption of Dodd‑Frank-aligned clawback; prohibition on hedging/pledging; strong say‑on‑pay outcome indicates investor support .
- Watch items: Venture affiliations (Wildcat, MDV) imply broad industry exposure; monitor for any future related party transactions or customer/vendor overlaps, though none disclosed currently .
- Board evolution: Ongoing declassification to annual elections by 2027 enhances accountability to shareholders .