Adam Taich

About Adam Taich

Adam S. Taich, age 50, is Chief Financial Officer of 10x Genomics (TXG) since August 2024, after senior roles at Standard BioTools (Chief Strategy Officer) and SomaLogic (interim CEO, CBO/EVP Life Sciences), and a 19-year career at Thermo Fisher across finance, strategy, and general management; he holds a B.A. from Miami University . During 2024, TXG revenue was $611 million (-1% YoY), spatial product revenue grew 33%, adjusted free cash flow reached $41 million and year-end cash and marketable securities were $393 million—context for Taich’s finance remit amid a sales force reorganization . TXG conducted robust pay-for-performance programs tied to revenue, adjusted free cash flow, and strategic objectives and adopted PSU metrics based on relative TSR and revenue CAGR; say‑on‑pay received ~83% support in 2024 .

Past Roles

External Roles

Fixed Compensation

Performance Compensation

Equity Ownership & Alignment

• Beneficial Ownership: 11,160 Class A RSUs vesting within 60 days of March 31, 2025; <1% ownership .
• Outstanding Unvested RSUs: 201,704 shares (grant date 10/23/2024); market value $2,896,469 at $14.36/share as of 12/31/2024 .
• 2024 Equity Grants: New-hire RSU of 201,704 shares; grant date fair value $3,045,730 .
• Vesting Schedule: 1/16 vests on the one‑year anniversary of Aug 21, 2024, then 1/16 quarterly on Feb 21, May 21, Aug 21, Nov 21 until fully vested—i.e., 16 equal tranches (~12,606 shares per tranche) . Note: Offer letter originally described 25% cliff on Aug 21, 2025 followed by equal quarterly vesting over 3 years .
• Options: None outstanding for Taich as of 12/31/2024 .
• Ownership Guidelines: Executives must hold ≥2x salary; compliance deadline is January 25, 2029 or 5th anniversary of appointment; executives are meeting or making timely progress .
• Hedging/Pledging: Company prohibits hedging and short sales; pledging is prohibited absent preclearance; no pledges disclosed for Taich .
• Trading Windows: Restricted periods generally from the 15th day of the last month of each fiscal quarter until the third full trading day after earnings release; Rule 10b5‑1 plans permitted under policy .
• Form 4 Compliance: One Form 4 reporting Taich’s equity award was filed late on March 19, 2025 due to administrative oversight .

Employment Terms

• Start Date & Role: CFO effective August 12, 2024; principal financial and accounting officer .
• Offer Letter Economics: Base salary $500,000; target bonus 60% of base; new‑hire RSU grant valued at $4.5 million (structured as RSUs; vesting terms per company filings above) .
• Severance (Non‑CIC): If terminated without cause prior to August 21, 2025, lump sum equal to six months of base salary (subject to release) .
• Change‑in‑Control (CIC): Double‑trigger benefits—six months of base salary, six months of COBRA subsidy, and accelerated vesting of time‑based equity (performance awards generally deemed target); as of 12/31/2024, estimated CIC termination value totals $3,158,720 (cash $250,000; benefits $12,251; equity $2,896,469) .
• Clawback: Policy aligned with SEC/Nasdaq for restatements; plan-level clawback applies to awards; recovery of erroneously awarded compensation mandated .
• Restrictive Covenants: Standard at‑will employment agreement includes employee non‑solicit during employment and for one year post‑termination; non‑compete not disclosed .

Compensation Structure Notes

• 2024 Cash vs Equity Mix: For Taich, equity was the dominant component via new‑hire RSUs ($3.046M grant‑date fair value), with cash elements reflecting partial‑year salary and prorated AIP .
• AIP Redesign: 2024 introduced multi‑metric AIP (Revenue 60%, Adjusted FCF 20%, SBOs 20%) to strengthen quantitative funding; executives earned 50% of target based on results .
• Peer Group & Targeting: Compensation calibrated with life sciences peers; committee targets elements generally between the 25th–75th percentiles; CEO below 25th percentile for cash; Alpine Rewards served as independent consultant .

Performance & Track Record (Company context in Taich’s tenure)

• 2024 Highlights: Revenue $611M (-1% YoY); spatial product revenue +33% YoY (spatial consumables +104% YoY); cash and marketable securities $393M; sales force reorganization underway .
• AIP Outcomes: Revenue missed minimum threshold ($611M vs $650M); Adjusted FCF exceeded maximum at $41M; 6 of 9 SBOs achieved; executive pool funded at 50% .
• Leadership Transition: Taich appointed CFO following prior CFO’s resignation; TXG announced broader leadership changes to strengthen commercial execution .

Equity Ownership & Alignment Table

Fixed Compensation Table (2024)

Performance Compensation Detail (2024 AIP)

Employment & CIC Economics Table

Investment Implications

• Alignment: Large, multi‑year RSU grant with long tail of quarterly vesting aligns Taich to long-term value creation; executive ownership policy (2x salary) reinforces alignment; hedging/short sales prohibited and pledging tightly controlled .
• Selling Pressure: Expect potential supply around scheduled RSU vest dates starting Aug 21, 2025, then quarterly on Feb/May/Aug/Nov; blackout windows and likely 10b5‑1 usage can modulate open‑market activity .
• Retention Risk: Near‑term non‑CIC severance for termination without cause lapses after Aug 21, 2025; double‑trigger CIC benefits—including accelerated vesting—mitigate retention risk in transaction scenarios .
• Pay‑for‑Performance: 2024 AIP results highlight discipline—zero revenue funding, full FCF funding, partial SBOs; absence of PSUs for Taich in 2024 concentrates exposure in time‑based RSUs, with firm‑wide PSU framework emphasizing relative TSR and revenue CAGR for other NEOs .
• Governance/Compliance: Strong clawback, ownership guidelines, prohibited hedging, and insider trading controls; minor disclosure timing issue (late Form 4) noted without substantive impact .