Maravai LifeSciences Appoints New Directors, Adjusts CFO Compensation
Ticker: MRVI · Form: 8-K · Filed: Jun 12, 2024 · CIK: 1823239
| Field | Detail |
|---|---|
| Company | Maravai Lifesciences Holdings, Inc. (MRVI) |
| Form Type | 8-K |
| Filed Date | Jun 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: MRVI
TL;DR
Maravai adds 2 directors, gives CFO a new contract with $425k base + bonus.
AI Summary
Maravai LifeSciences Holdings, Inc. announced on June 10, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. Robert J. Palladino and Ms. Sarah E. Emrey, to its Board of Directors, effective June 10, 2024. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, William D. Tempero, effective June 10, 2024, which includes a base salary of $425,000 and potential for a target annual bonus of 75% of his base salary.
Why It Matters
The election of new directors and changes to executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can sometimes precede or reflect significant strategic shifts or internal challenges within a company.
Key Numbers
- $425,000 — CFO Base Salary (New annual base salary for William D. Tempero.)
- 75% — CFO Target Bonus (Potential annual bonus target for William D. Tempero as a percentage of base salary.)
Key Players & Entities
- Maravai LifeSciences Holdings, Inc. (company) — Registrant
- Dr. Robert J. Palladino (person) — Newly Elected Director
- Ms. Sarah E. Emrey (person) — Newly Elected Director
- William D. Tempero (person) — Chief Financial Officer
- $425,000 (dollar_amount) — CFO's new base salary
- 75% (dollar_amount) — CFO's target annual bonus percentage
- June 10, 2024 (date) — Effective date of director appointments and CFO agreement
FAQ
Who were the new directors elected to Maravai LifeSciences' Board?
Dr. Robert J. Palladino and Ms. Sarah E. Emrey were elected as new directors, effective June 10, 2024.
What is the new base salary for Maravai's CFO, William D. Tempero?
William D. Tempero's new employment agreement, effective June 10, 2024, sets his base salary at $425,000.
What is the target bonus percentage for the CFO?
The target annual bonus for William D. Tempero is 75% of his base salary.
When were these changes effective?
The changes, including the election of new directors and the new employment agreement for the CFO, were effective as of June 10, 2024.
What is Maravai LifeSciences' principal executive office address?
The principal executive offices are located at 10770 Wateridge Circle Suite 200, San Diego, California 92121.
Filing Stats: 473 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-06-11 18:23:20
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value MRVI The Nasdaq Stock Market
Filing Documents
- mrvi-20240610.htm (8-K) — 26KB
- 0001823239-24-000084.txt ( ) — 149KB
- mrvi-20240610.xsd (EX-101.SCH) — 2KB
- mrvi-20240610_lab.xml (EX-101.LAB) — 22KB
- mrvi-20240610_pre.xml (EX-101.PRE) — 13KB
- mrvi-20240610_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MARAVAI LIFESCIENCES HOLDINGS, INC. Date: June 11, 2024 By: /s/ Kevin M. Herde Name: Kevin M. Herde Title: Chief Financial Officer