William Geist
About William Geist
William Geist is President, Protein Sciences at Bio‑Techne (NASDAQ: TECH), serving since January 3, 2022; he is 56 years old and has over two decades of life-science tools operating experience including COO of Quanterix, VP/GM roles at Thermo Fisher Scientific (Protein & Cell Analysis; qPCR), and VP at QuantaBiosciences (QIAGEN) . His tenure coincides with Bio‑Techne’s FY2022–FY2025 revenue growth alongside resilient EBITDA, and his segment achieved 145% of target bonus payout in FY2025 amid broadened RSU-based long-term incentives and an rTSR cap when TSR is negative .
Company performance during Geist’s tenure:
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenues ($USD) | $1,105.6M | $1,136.7M | $1,159.1M | $1,219.6M |
| EBITDA ($USD) | $339.5M* | $344.0M* | $313.7M* | $331.1M* |
*Values retrieved from S&P Global
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Quanterix | Chief Operating Officer | Pre‑2022 (most recent prior role) | Enterprise-wide operations, strategy deployment; scaling proteomic tools |
| Thermo Fisher Scientific | VP & GM, Protein & Cell Analysis; VP & GM, qPCR | 2015–Jan 2020 | Led two of TMO’s largest business units; portfolio and P&L accountability |
| QuantaBiosciences (QIAGEN) | Vice President | 2003–2015 | Built business from inception through acquisition; qPCR and molecular tools |
External Roles
No public company directorships or external board roles disclosed for Geist .
Fixed Compensation
| Item | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Base Salary ($) | $500,000 | $530,000 | $551,200 | $573,200 |
| Target Bonus % of Salary | 85% | — | 90% | 90% |
| Target Bonus ($) | $425,000 | — | $496,080 | $515,880 |
| Actual Bonus Paid ($) | $425,000 (200% of target) | $0 (not disclosed; SCT shows “—”) | $144,855 (29.2% of target) | $748,026 (145.0% of target) |
Performance Compensation
Annual Incentive Design and FY Results (by year)
| Year | Metric | Weighting (Geist) | Target | Actual | Payout |
|---|---|---|---|---|---|
| FY 2025 | Company Organic Revenue | 25% | $1,190.1M | Not disclosed | Contributes to 145% blend |
| FY 2025 | Company Adjusted EBITA | 25% | $373.7M | Not disclosed | Contributes to 145% blend |
| FY 2025 | Protein Sciences Organic Revenue | 25% | $840.1M | Not disclosed | Segment achieved 145% |
| FY 2025 | Protein Sciences Adjusted EBITA | 25% | $352.7M | Not disclosed | Segment achieved 145% |
| FY 2024 | Corp. Organic Rev. & Adj. Op. Inc. | 50% total | Targets per plan | Corp. op inc threshold not met | 29.2% blend |
| FY 2024 | Segment Rev. & Op. Inc. | 25% + 25% | Targets per plan | Dx/Gen met thresholds; PS missed op inc | 29.2% blend |
| FY 2022 | Corp. Organic Rev. & Adj. Op. Inc. | 50% total | Targets per plan | Exceeded | 200% payout |
| FY 2022 | Segment Rev. & Op. Inc. | 25% + 25% | Targets per plan | Exceeded | 200% payout |
Vesting: Annual bonuses are cash, based on one-year performance; no vesting. Performance ranges were broadened in FY2025 (Revenue threshold 93%/max 105%; EBITA threshold 92%/max 108%) to better align payouts with performance and retention .
Long‑Term Incentives (composition and grant values)
| Grant Component | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Time‑Based RSUs ($) | $1,000,000 sign‑on; $1,224,789 total stock awards | $449,915 | $1,519,768 | $1,206,585 |
| Time‑Based Options ($) | $674,897 | $1,350,043 | $1,417,508 | $593,448 |
| Performance‑Based RSUs ($) | Included in FY2022 performance awards; target $224,879 | Included in FY2023 mix | $472,519 target within mix | $1,316,518 target |
Design and vesting:
- Time-based options: vest 25% annually over 4 years; term extended from 7 to 10 years effective FY2025 .
- Time-based RSUs: vest 33% annually over 3 years .
- Performance RSUs (3-year cliff): weights 40% organic revenue, 35% adjusted EBITA, 25% rTSR; FY2024 grants measured FY2024–FY2026; FY2025 grants measured to FY2027 with payout cap of 100% if TSR is negative .
- FY2022 performance grants (company-wide): did not vest in FY2024 (0% payout) ; FY2023 3‑year awards also did not vest in FY2025 (0% payout) .
Equity Ownership & Alignment
| Date (as of) | Beneficial Ownership (Total) | Direct Shares | Vested but Unexercised Options | % of Shares Outstanding |
|---|---|---|---|---|
| Sep 2, 2025 | 69,579 | 15,112 | 54,467 | <0.1% |
| Aug 29, 2024 | 34,710 | 4,439 | 30,271 | 0.0% |
| Sep 1, 2023 | 21,340 | 9,960 | 11,380 | 0.0% (group data 4.1% total) |
| Sep 2, 2022 | 2,490 | 2,490 | 0 | <0.1% |
Ownership policies and compliance:
- Stock ownership guideline: 3x base salary for executive officers; Geist currently below guideline with years remaining to comply .
- Hedging/pledging: prohibited for officers and directors (limited pledge exceptions with ability to repay and prior approval) .
- Clawback: recoupment policy applicable to current and former NEOs for overpayments after any restatement; equity agreements permit recovery .
Employment Terms
| Provision | Without Cause / Good Reason | Change‑in‑Control (Double‑Trigger) |
|---|---|---|
| Cash Severance (FY2024) | One year of base salary ($551,200) | One year cash severance ($732,490) plus equity acceleration (est. $3,010,733), prorated bonus and one year COBRA |
| Cash Severance (FY2025) | One year of base salary ($573,200) | One year cash severance ($1,349,052) plus equity acceleration (est. $3,105,316), prorated bonus and one year COBRA |
Definitions: Change‑in‑control and severance terms for NEOs include equity acceleration and COBRA for one year; CoC generally means >50% voting power change, certain mergers, or sale of substantially all assets . Geist’s initial appointment terms included $500,000 base, 85% target bonus, and a one-time $1,000,000 RSU grant vesting over three years .
Investment Implications
- Pay-for-performance alignment improved: broader annual bonus bands and rTSR with a negative‑TSR cap strengthen downside protection while maintaining performance leverage; Geist’s segment outperformance drove a 145% FY2025 bonus despite prior-year shortfalls .
- Retention risk and alignment: Geist remains below 3x ownership guideline; multi‑year RSU vesting and option 10‑year terms support retention, but watch for Form 4 activity and any 10b5‑1 selling programs; hedging/pledging prohibitions mitigate misalignment .
- Change‑in‑control economics: double‑trigger with full acceleration and one‑year salary/benefits creates potential event‑driven overhang; monitor equity overhang and accelerated vesting exposure in M&A scenarios .
- Execution track record: company revenues grew FY2022–FY2025 with resilient EBITDA; Protein Sciences achieved strong FY2025 payouts, indicating operational recovery in core growth pillars; continued focus on organic revenue and adjusted EBITA as incentive metrics suggests durable emphasis on profitable growth .