Paul Meister
About Paul Meister
Independent director since 2013; age 71 as of April 1, 2024; career investor-operator with deep life sciences and financial expertise. Partner at Novalis LifeSciences and Co‑Founder/CEO of Liberty Lane Partners; former President of MacAndrews & Forbes (2014–2018), interim Executive Vice Chairman of Revlon (Jan–Nov 2018), Chairman & CEO of inVentiv Health (2010–2015), Chairman of Thermo Fisher Scientific (Nov 2006–Apr 2007), and executive officer of Fisher Scientific (1991–2006). MBA, Northwestern University; BA, University of Michigan. Designated audit committee financial expert by the Board; independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MacAndrews & Forbes | President | 2014–2018 | Senior operating role across portfolio companies |
| Revlon, Inc. | Executive Vice Chairman (interim) | Jan–Nov 2018 | Stabilized leadership following CEO resignation |
| inVentiv Health (Syneos Health) | Chairman & CEO | 2010–2015 | Led commercial/consulting/clinical CRO operations |
| Thermo Fisher Scientific | Chairman | Nov 2006–Apr 2007 | Oversight during integration era post Fisher Scientific |
| Fisher Scientific International | Executive Officer | 1991–2006 | Predecessor to Thermo Fisher Scientific |
External Roles
| Organization | Board Role | Tenure | Notes |
|---|---|---|---|
| Aptiv PLC (NYSE: APTV) | Director | Since 2019 | Global automotive technology |
| Amneal Pharmaceuticals (Nasdaq: AMRX) | Director | Since 2019 | Generic/specialty pharma |
| Oaktree Acquisition Corp III (Nasdaq: OACCU) | Director | Since 2024 | SPAC board experience; prior OAC I (2019–2020) & II (2020–2022) |
| Scientific Games (Nasdaq: LNW) | Director | 2012–2020 | Gaming solutions |
| LKQ Corporation (Nasdaq: LKQ) | Director | 1999–2018 | Vehicle products distribution |
| vTv Therapeutics (Nasdaq: VTV) | Director | 2015–2018 | Biopharma |
| Revlon, Inc. | Director | 2016–2019 | Consumer beauty |
| University of Michigan | Co‑Chair, Life Sciences Institute EAB; Chair, Provost’s Advisory Committee | Current | Academic governance roles |
Board Governance
- Committee assignments: Audit Committee (member, 2025; previously Chair in 2023–2024) .
- Audit committee financial expert designation; all audit committee members independent per SEC/Nasdaq .
- Independence: Board determined Meister is independent under Nasdaq rules .
- Attendance: No director fell below 75% of Board/committee meetings in 2022 or 2023, indicating satisfactory engagement .
- Governance evolution: Board pursuing declassification and elimination of supermajority votes, reflecting investor engagement and best practices .
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Fees Earned or Paid in Cash ($) | 59,976 | 59,960 (elected stock-in-lieu) | 59,969 (elected stock-in-lieu) |
| Stock Awards ($) | 113,150 | 103,947 | 120,000 |
| Option Awards ($) | 86,850 | 96,057 | 80,000 |
| Total ($) | 259,976 | 259,965 | 259,969 |
Policy context:
- Non‑employee director cash retainers and committee fees: $40,000 base; Audit member $10,000/Chair $20,000; Compensation member $7,250/Chair $15,000; Nominating member $5,000/Chair $10,000 (2023). Chairman/Lead Director increased to $80,000 effective Jan 1, 2024; Compensation member to $7,500. Base increased to $50,000 and Chair/Lead to $95,000 effective Jan 1, 2025 .
- Election to receive fees in common stock is permitted; Meister elected stock in lieu of cash in 2022, 2023, and 2024 .
Performance Compensation
| Year | Annual Equity Value | RSU % | Option % | Annual Vesting | New Director Initial Award | Initial Vesting |
|---|---|---|---|---|---|---|
| 2023 Policy | $200,000 | 40% | 60% | Full vest on Dec 31 grant year | $400,000 | Options: 1/3 at 1st anniversary, remainder monthly to 36 months; RSUs: 1/3 each year over 3 years |
| 2024 Policy (amended cash only) | $200,000 | 40% | 60% | Full vest on Dec 31 grant year | $400,000 | As above |
| 2025 Policy | $200,000 | 40% | 60% | Full vest on Dec 31 grant year | $400,000 | As above |
Notes:
- Equity awards computed via Black‑Scholes for options; RSU count based on fair market value at grant date .
- Director awards are time‑based; no disclosed performance metrics for director equity grants .
Other Directorships & Interlocks
| Company | Relationship to QTRX | Potential Interlock/Conflict Considerations |
|---|---|---|
| Novalis LifeSciences (partner) | Investment firm in life sciences | No QTRX‑disclosed related party transactions involving Meister; audit committee reviews any Item 404 transactions |
| Liberty Lane Partners (Co‑Founder/CEO) | Private investment company | Same as above; independence affirmed |
| Aptiv, Amneal, OAC III, prior OAC I/II, Scientific Games, LKQ, vTv, Revlon | External public boards | Multi‑board commitments; no disclosed QTRX related‑party dealings with these entities |
Expertise & Qualifications
- Financial and investment expertise; life sciences sector knowledge; prior CEO/Chairman experience across large-cap and PE‑backed contexts .
- Audit committee financial expert designation; deep understanding of financial reporting, controls, and auditor oversight .
- Strategic and operations leadership across diagnostics, pharma services, and industrials .
Equity Ownership
| Metric | As of Mar 1, 2023 | As of Mar 1, 2024 | As of Jul 31, 2025 |
|---|---|---|---|
| Shares Beneficially Owned | 314,145; <1% (“*”) | 337,496; <1% (“*”) | 355,982; <1% (“*”) |
| Options Outstanding (aggregate count) | 58,937 (as of Dec 31, 2022) | 47,726 (as of Dec 31, 2023) | 54,138 (as of Dec 31, 2024) |
| Director Stock Ownership Guideline | 5x annual base cash retainer | 5x annual base cash retainer | 5x annual base cash retainer; all individuals subject since Oct 9, 2019 were compliant by Oct 9, 2024 |
Additional alignment features:
- 50% of net‑of‑tax vested shares must be held until guideline met .
- Section 16 compliance: no delinquency disclosed for Meister; proxy notes delinquencies only for a different director .
Governance Assessment
- Strengths: Independent status, audit committee chair experience (2023–2024) and financial expert designation support robust oversight of reporting, controls, and auditor independence . Consistent meeting attendance above 75% threshold signals engagement . Ownership is sizable and guidelines were met at the board level by Oct 9, 2024, enhancing alignment .
- Compensation signals: Director pay structure is equity‑weighted with time‑based vesting; cash fees modest and can be taken in stock (Meister elected stock in multiple years), reinforcing skin‑in‑the‑game .
- Board governance responsiveness: Movement to declassify the board and reduce supermajority provisions indicates proactive shareholder engagement and modern governance practices .
RED FLAGS (none material disclosed):
- No related‑party transactions involving Meister disclosed; audit committee policy requires prior review/approval of any Item 404 transactions .
- No Section 16 filing issues disclosed for Meister .
- Multi‑board commitments present typical bandwidth considerations, but no disclosed attendance shortfalls or conflicts at QTRX .