Paul Grossman
About Paul Grossman
Paul Grossman, Ph.D., age 64, is Chairman of the Board at Alpha Teknova (TKNO) and has served as a director since January 2019; he is classified as a Class III director with a term expiring at the 2027 annual meeting . He is a Partner at Telegraph Hill Partners (THP) since February 2014 and previously held senior corporate development roles at Life Technologies/Invitrogen and multiple leadership roles at Applied Biosystems; he holds B.S. and Ph.D. degrees in Chemical Engineering (UC Berkeley), an M.S. in Chemical Engineering (University of Virginia), and a J.D. (Santa Clara University School of Law), and is named on 20+ U.S. patents . The board determined he is not independent under Nasdaq rules due to his THP employment .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Life Technologies (now Thermo Fisher) | SVP, Corporate Development | Nov 2008–Feb 2014 | Led acquisition/divestiture of 25+ businesses; responsible for >4,000 patents/licences |
| Invitrogen | SVP, Corporate Development | May 2007–Nov 2008 | Corporate development leadership |
| Applied Biosystems | Research Scientist; Patent Attorney; VP IP; VP Strategy & BD | 1982–Jan 2007 | Built IP portfolio; strategy and product development leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Telegraph Hill Partners | Partner | Feb 2014–present | Venture investor in life sciences; Partner at THP Management Company |
| Excellos (private) | Director (represents THP) | Current | THP portfolio company directorship |
| Argonaut Manufacturing Services (private) | Director (represents THP) | Current | THP portfolio company directorship |
Board Governance
- Board structure: Staggered, 3 classes; Grossman is Class III, Chairman; CEO is Stephen Gunstream .
- Independence: Not independent due to THP employment; TKNO is a “controlled company” and uses Nasdaq exemptions for comp and nom/gov committees; audit committee remains fully independent .
- Attendance: In FY2024, board held 9 meetings; each director attended at least 75% of board/committee meetings; one director attended the 2024 annual meeting (names not disclosed) .
- Committee leadership: Audit Chair – Martha Demski; Compensation Chair – Brett Robertson; Nominating/Governance Chair – Alexander Vos .
- Grossman’s committee memberships: Compensation Committee member (non-independent, permitted under controlled company rules) ; not on Audit or Nominating/Governance .
| Governance Item | Detail |
|---|---|
| Board Role | Chairman (Class III), Director since 2019; term expires 2027 |
| Independence | Not independent (THP employment) |
| Committees | Compensation Committee member |
| FY2024 Board Meetings | 9 meetings; directors ≥75% attendance |
| Controlled Company | THP controls majority; TKNO uses Nasdaq controlled company exemptions (board majority independence not required; comp and nom/gov not required to be fully independent) |
Fixed Compensation
| Element (2024) | Amount | Notes |
|---|---|---|
| Board Annual Retainer | $0 | Non-employee, non-independent directors did not receive annual retainers |
| Committee Member Fees | $0 | Non-employee, non-independent directors did not receive committee fees |
| Chair Fees | N/A | Chair fees apply to independent directors; Grossman did not receive them |
| Meeting Fees | Not disclosed | No meeting fees disclosed for directors |
Director compensation policy (for independent directors) for reference:
- Board retainer $40,000; Non-executive Chair +$40,000; Audit Chair $20,000; Compensation Chair $15,000; Nominating/Gov Chair $10,000; Audit member $10,000; Compensation member $7,500; Nominating/Gov member $5,000; annual RSU grants (generally) with one-year vesting; in 2024 fixed 20,000 RSUs per independent director .
Performance Compensation
| Equity Awards (2024) | Grant Date | Shares | Fair Value | Vesting |
|---|---|---|---|---|
| None | — | — | — | No option/RSU awards reported for Grossman in 2024 |
Note: Independent directors received 20,000 RSUs effective at the 2024 annual meeting; Grossman had no option or RSU awards outstanding as of 12/31/2024 .
Other Directorships & Interlocks
| Entity | Type | Relationship | Potential Interlock/Conflict Note |
|---|---|---|---|
| THP IV LP, THP IV LLC, THP V LP, THP V LLC | Controlling stockholder group | THP entities own 37,717,565 shares (70.6%); managed by THP IM; THPMC is manager; Grossman is a partner of THPMC; he disclaims beneficial ownership of THP-held shares | |
| Excellos; Argonaut Manufacturing Services | Private companies | Grossman serves as director representing THP | Information flow/interlocks via THP network; private, not public competitors/customers disclosed |
Expertise & Qualifications
- Deep life sciences corporate development, IP strategy, and product development experience; led >25 M&A transactions; oversaw >4,000 IP assets .
- Legal (J.D.) and technical (Chemical Engineering Ph.D.) credentials; 20+ U.S. patents and scientific publications .
- Board skills matrix highlights life science products, strategy/business development, transactional experience; plus legal/governance experience .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Paul Grossman | 9,212 | <1% | Individual holdings; additionally a THPMC partner; disclaims beneficial ownership of THP entities’ shares |
| THP entities (affiliated with THPMC) | 37,717,565 | 70.6% | Controlling stockholder; shared voting/dispositive power among THP entities |
Additional alignment and risk controls:
- Outstanding director equity awards for Grossman as of 12/31/2024: none (options and RSUs) .
- Company insider trading policy prohibits short sales, options/hedging, margin accounts, and pledging of company stock by directors/executives/consultants .
Governance Assessment
- Board effectiveness: Grossman brings strong M&A/IP expertise and industry network; chairs are independent in key committees (audit, comp, nom/gov), but Grossman sits on Compensation while non-independent under controlled company exemptions—reduces perceived independence of pay decisions (RED FLAG when assessing pay governance) .
- Independence & control risk: THP’s 70.6% ownership classifies TKNO as a controlled company; Grossman’s THP affiliation and non-independent status, combined with related financing participation by THP and executives in 2023–2024 offerings, present potential conflicts requiring robust committee oversight and clear disclosures (RED FLAG for minority shareholder influence concerns) .
- Attendance & engagement: Board met 9 times in FY2024; directors met ≥75% attendance; Compensation met 10 times; Audit met 5; Nom/Gov met 4—indicates active committee cadence; individual annual meeting attendance limited (only one director in 2024) may be perceived negatively on investor engagement .
- Compensation alignment: Grossman received no cash retainer or director equity in 2024; alignment is primarily via THP’s large stake rather than personal share ownership—personal “skin in the game” is minimal, though hedging/pledging bans mitigate misalignment risk .
- Related-party transactions: THP (and certain executives) purchased a substantial portion of private placements—12,385,883 shares at $1.24 (July 2024) with 12,217,740 shares purchased by THP/executives; and 11,299,993 PIPE shares at $1.85 (Sept 2023) with 9,054,052 shares purchased by THP/executives—appropriate Audit/related-party policy oversight is critical (RED FLAG potential conflict/financing dependence) .
Context: TKNO is an emerging growth company, exempt from say-on-pay and certain Dodd-Frank disclosures until it ceases EGC status (limits shareholder advisory checks on compensation governance) .