David Walt
About David R. Walt, Ph.D.
David R. Walt (age 72) is Quanterix’s founding scientist and has served on the Board since 2007; he is the Hansjörg Wyss Professor of Biologically Inspired Engineering and Professor of Pathology at Harvard Medical School and Brigham and Women’s Hospital, and a core faculty member of the Wyss Institute. He previously served at Tufts University (1981–2017) and was a founding scientist and director of Illumina (1998–2016); he holds a B.S. in Chemistry (University of Michigan) and a Ph.D. in Chemical Biology (Stony Brook), and is a member of the U.S. National Academies with multiple national awards including the National Medal of Technology and Innovation. The Board has determined Walt is independent under Nasdaq standards.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tufts University | University Professor; Professor (Chemistry, Biomedical Engineering, Genetics, Neuroscience, Cell & Molecular Biology, Oral Medicine) | 1981–2017 | Research leader; inventor of SIMOA technology licensed to Quanterix |
| Illumina, Inc. | Founding Scientist; Director | 1998–2016 | Guided growth of leading genomics platform |
| Exicure, Inc. | Director | 2013–2021 | Oversight of therapeutics strategy |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Harvard Medical School; Brigham and Women’s Hospital | Hansjörg Wyss Professor; Professor of Pathology | 2017–present | Co-developer of immunoassay technology licensed to Quanterix |
| Wyss Institute | Core Faculty Member | 2017–present | Biologically inspired engineering leadership |
| Arbor Biotechnologies, Inc. | Co-Founder; Director | Ongoing | Private company; CRISPR/biotech |
| Protillion Biosciences | Co-Founder; Director | Ongoing | Private company |
| Vizgen, Inc. | Co-Founder; Director | Ongoing | Spatial genomics; private company |
Board Governance
- Independence: The Board determined Walt is independent under Nasdaq standards.
- Committee assignments: Member, Compensation Committee (Chair: Karen A. Flynn). Not a member of Audit or Nominating & Governance.
- Attendance: All incumbent directors attended at least 75% of Board and assigned committee meetings in 2024.
- Board structure: Independent Chair (William P. Donnelly); fully independent Audit, Compensation, and Nominating & Governance Committees.
| Committee | Role | 2024/2025 Composition |
|---|---|---|
| Compensation | Member | Flynn (Chair), Donnelly, Magovčević-Liebisch, Walt |
| Audit | Not a member | Elliott (Chair), Donnelly, Meister |
| Nominating & Governance | Not a member | Magovčević-Liebisch (Chair), Elliott, Flynn |
Fixed Compensation (Non‑Employee Director)
| Component | Amount (USD) | Detail |
|---|---|---|
| Annual cash retainer | $40,000 (2024 policy) | Paid quarterly; increased to $50,000 effective Jan 1, 2025 |
| Compensation Committee member fee | $7,500 | Member fee (Chair fee would be $15,000; not applicable) |
| Total fees earned or paid in cash (2024) | $47,500 | Reported for Walt in 2024 Director Compensation table |
Performance Compensation (Director Equity)
Directors receive time-based equity (no performance metrics); annual grant valued at $200,000 (60% options, 40% RSUs) vesting fully on December 31 of the grant year; new directors receive a $400,000 initial award vesting over three years.
| Grant Year | Stock Awards (RSUs) Fair Value (USD) | Option Awards Fair Value (USD) | Vesting Terms | Options Held at 12/31/2024 (#) |
|---|---|---|---|---|
| 2024 | $120,000 | $80,000 | Annual RSUs and options vest in full on 12/31/2024 | 54,138 |
Note: Director equity is time-based; Quanterix does not disclose performance-based director compensation metrics.
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Exposure |
|---|---|---|---|
| Illumina, Inc. (past) | Public | Director (1998–2016) | None disclosed with Quanterix’s current operations |
| Exicure, Inc. (past) | Public | Director (2013–2021) | None disclosed |
| Harvard/Brigham labs | Academic | Oversight of labs | Quanterix recorded ~$2.2M revenue from sales to labs overseen by Walt in 2024 (related‑party context) |
Expertise & Qualifications
- Technical: Pioneer in optical sensors, microwell arrays, single molecule detection; inventor of SIMOA; extensive diagnostics technology expertise.
- Academic & recognition: National Medal of Technology and Innovation; memberships in National Academy of Engineering and Medicine, American Philosophical Society, and American Academy of Arts and Sciences.
- Board skills: R&D/scientific expertise; corporate governance experience; other public company board experience.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| David R. Walt, Ph.D. | 1,915,784 | 4.1% | Beneficial ownership as of 7/31/2025 (46,465,915 shares outstanding) |
- Ownership guidelines: Non‑employee directors must hold 5x annual base cash retainer; 50% of net‑of‑tax vested shares must be held until guideline met; all individuals required to attain by 10/9/2024 were in compliance.
- Hedging/pledging: Prohibited for directors and officers.
Insider Trades (disclosed)
| Date | Type | Shares | Form | Filing Notes |
|---|---|---|---|---|
| 10/12/2022 | Gift | 1,000 | Form 5 | Not timely; due 2/14/2023 |
| 03/09/2023 | Gift | 1,000 | Form 4 | Not timely; due 3/13/2023 |
| 08/20/2024 | Purchase | 47,000 | Form 4 | Not timely; due 8/22/2024; all reported on 9/17/2024 |
Related Party Transactions (Conflict Assessment)
- SIMOA license: Quanterix pays royalties to Tufts on net sales; Walt is an inventor and receives a portion of Tufts’ royalty proceeds per university arrangement; ~$2.1M royalty expense recorded in 2024 (amount to Walt determined formulaically by Tufts).
- Harvard immunoassay license: Upfront fee $625,000 (2022); Harvard pays a portion to Walt under its arrangement; no royalty expense recorded in 2024.
- Sales to Harvard/Brigham labs overseen by Walt: ~$2.2M revenue in 2024.
- Oversight: Audit Committee reviews material related‑party transactions; Walt is not on the Audit Committee, mitigating self‑review risk.
Governance Assessment
- Board effectiveness: Walt contributes deep diagnostics/R&D expertise and long-tenured founder perspective; independence affirmed by the Board; active on the Compensation Committee with use of independent consultant (Pay Governance).
- Alignment: Significant personal stake (4.1%) and director stock ownership guidelines compliance, with anti-hedging/pledging policy enhancing alignment.
- RED FLAGS:
- Related‑party exposure via university licenses and lab sales tied to Walt; while customary in academia-industry ecosystems and disclosed, it warrants continued Audit Committee oversight and transparent quantification.
- Section 16(a) filing timeliness issues (two gifts and one purchase reported late but cured on 9/17/2024); process discipline should be monitored.
- Director pay structure: Majority equity, time-based vesting, and modest cash/committee fees suggest reasonable pay-for-service without performance-linked director compensation, consistent with governance norms.