Kim Kelderman

President and CEO at BIO-TECHNE

Since February 1, 2024

Age

57 years

Education

Earned a B.S. in Applied Sciences from Hogeschool Heerlen in the Netherlands.

Tenure

Joined TECH on April 30, 2018, as President of the Diagnostics and Genomics Segment, served as COO starting November 1, 2023, and was promoted to President and CEO on February 1, 2024.

Also at BIO-TECHNE

James Hippel

EVP and CFO

Matthew McManus

President, Diagnostics and Genomics

Shane Bohnen

SVP, General Counsel, and Corporate Secretary

About

Kim Kelderman is a seasoned executive with over 30 years of experience in the life sciences industry, having held significant leadership roles at major companies such as Thermo Fisher Scientific and Becton Dickinson. His career is marked by a deep operational understanding and a consistent record of driving sustainable growth through strategic innovation and excellence in execution.

At TECH, his pivotal contributions include leading the Diagnostics and Genomics Segment to commercialize breakthrough products like the ExoDx Prostate test, which was instrumental in driving significant volume growth, as well as doubling revenue in the spatial biology business. He also played a key role in successful acquisitions, which positioned the business for robust growth through new product introductions and strategic partnerships.

Beyond his operational achievements, his leadership style has been characterized by a focus on integration and execution of mergers and acquisitions, further complemented by his involvement on the Board of Directors for StatLab Medical Products. His comprehensive approach to strategic growth and market expansion continues to shape TECH’s trajectory in highly dynamic and underpenetrated markets.

$TECH Performance Under Kim Kelderman

Past Roles

Organization	Role	Date Range	Details
Bio-Techne	President, Diagnostics and Genomics Segment	2018 - Feb 1, 2024	Completed Asuragen and Lunaphore acquisitions; commercialized the ExoDx Prostate test; doubled the revenue of the spatial biology business
Thermo Fisher Scientific	Leader, Genetic Sciences Division (Platforms and Content)	N/A	Managed Instrumentation, Software, Consumables, and Assays businesses including Applied Biosystems and legacy Affymetrix
Becton Dickinson	Senior Segment Leader	N/A	Managed the Blood Tubes "Vacutainer" business

External Roles

Organization	Role	Date Range	Details
StatLab Medical Products	Independent Director	N/A	N/A

Fixed Compensation

Data from FY 2024

Component Name	Amount ($)	Payment Schedule	Additional Details
Base Salary	$759,511	Prorated over 2024	Based on time served as non-CEO with an annualized CEO salary of $900,000.
Cash Severance Upon Termination	$1,659,511	Paid upon termination without cause or resignation for good reason (trigger assumed at end of FY2024)	Includes a base salary multiple, earned non‐equity incentive compensation, unvested cash performance units, and COBRA health insurance premiums.
Time-Based Stock Options	$2,965,857	Grants on August 15, 2023; November 1, 2023; and February 1, 2024	Granted with fair values of $924,008 (29,391 options at $84.61), $750,164 (38,252 options at $52.83), and $1,291,686 (51,890 options at $68.54).
Time-Based Restricted Stock Units	$749,975	Grant on November 1, 2023	14,196 RSUs granted at a market value of $52.83 per share.

Performance Compensation

Data from FY 2024

Performance-Based Stock Options

Grant Date	Threshold Options	Target Options	Maximum Options	Grant Date Stock Price	Grant Date Fair Value ($)
August 15, 2023	7,348	14,695	22,043	$84.61	$692,998
February 1, 2024	8,648	17,297	25,945	$68.54	$645,843

Vesting: Awards vest following fiscal year 2026 upon achievement of consolidated adjusted operating income and adjusted revenue growth targets.

Performance-Based Restricted Stock Units (RSUs)

Grant Date	Threshold ($)	Target ($)	Maximum ($)	Grant Date Stock Price	Grant Date Fair Value ($)
February 1, 2024	$446,298	$892,595	$1,338,893	$68.54	$645,843

Vesting: RSUs vest contingent on the achievement of performance goals by fiscal year 2026.

Performance-Based Cash Bonus

Metric	Threshold	Target	Maximum	Weight
Company Organic Revenue	$1,126.5M	$1,185.8M	$1,221.4M	50%
Adjusted Operating Income	$397.4M	$418.3M	$439.2M	50%

Bonus Amounts:

Target Bonus: $784,050 (110% of annual salary of $759,511).
Threshold Bonus: $196,013 (25% of target bonus).
Maximum Bonus: $1,568,100 (200% of target bonus).

Payment: Bonus is determined based on fiscal year 2024 performance and is paid in the subsequent fiscal year.

Performance-Based Long-Term Incentive Awards (August 15, 2023)

Component	Threshold	Target	Maximum	Grant Date Fair Value ($)	Grant Date Stock Price
Stock Options	7,348	14,695	22,043	$461,999	$84.61
RSUs	2,730	5,461	8,191	$462,027	$84.61

Vesting: Vest after fiscal year 2026 based on performance metrics tied to consolidated adjusted operating income and revenue growth.

Performance-Based Long-Term Incentive Awards (February 1, 2024)

Component	Threshold	Target	Maximum	Grant Date Fair Value ($)	Grant Date Stock Price
Stock Options	8,648	17,297	25,945	$430,562	$68.54
RSUs	3,141	6,282	9,423	$430,568	$68.54

Vesting: Awards vest following fiscal year 2026, with grants proration reflecting the partial year as CEO.

Performance-Based Cash Performance Units

Payout Level	Threshold ($)	Target ($)	Maximum ($)
Cash Units	$2,867	$5,734	$8,601

Vesting: Cash performance units vest after fiscal year 2026 if the company meets adjusted operating income and revenue growth goals. They also compensate for dividends paid during the vesting period.