Maravai LifeSciences Appoints New Directors, Adjusts Executive Pay
Ticker: MRVI · Form: 8-K · Filed: Jan 8, 2025 · CIK: 1823239
| Field | Detail |
|---|---|
| Company | Maravai Lifesciences Holdings, Inc. (MRVI) |
| Form Type | 8-K |
| Filed Date | Jan 8, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: MRVI
TL;DR
Maravai LifeSciences adds 2 directors, updates exec pay packages.
AI Summary
Maravai LifeSciences Holdings, Inc. announced on January 2, 2025, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Dr. David E. R. Gross and Ms. Sarah E. Emrey, to its Board of Directors, effective January 2, 2025. Additionally, the company entered into new employment agreements with certain executive officers, including Dr. Eric L. Johnson (CEO), Mr. William D. Tempero (CFO), and Mr. Mark W. Wilson (Chief Legal Officer), detailing their compensation and severance benefits.
Why It Matters
Changes in board composition and 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 and executive compensation can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- Maravai LifeSciences Holdings, Inc. (company) — Registrant
- Dr. David E. R. Gross (person) — Newly Elected Director
- Ms. Sarah E. Emrey (person) — Newly Elected Director
- Dr. Eric L. Johnson (person) — CEO and Executive Officer
- Mr. William D. Tempero (person) — CFO and Executive Officer
- Mr. Mark W. Wilson (person) — Chief Legal Officer and Executive Officer
- January 2, 2025 (date) — Effective date of director appointments and reporting date
FAQ
Who were the new directors appointed to Maravai LifeSciences' Board?
Dr. David E. R. Gross and Ms. Sarah E. Emrey were elected as new directors to the Board of Directors, effective January 2, 2025.
What other significant event occurred on January 2, 2025, according to the filing?
Maravai LifeSciences entered into new employment agreements with certain executive officers, detailing their compensation and severance benefits.
Which executive officers are mentioned in relation to new employment agreements?
The filing mentions new employment agreements for Dr. Eric L. Johnson (CEO), Mr. William D. Tempero (CFO), and Mr. Mark W. Wilson (Chief Legal Officer).
What is the principal executive office address for Maravai LifeSciences?
The principal executive offices are located at 10770 Wateridge Circle Suite 200, San Diego, California 92121.
What is the filing date of this Form 8-K?
The Form 8-K was filed on January 8, 2025, reporting events as of January 2, 2025.
Filing Stats: 682 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2025-01-08 16:12:07
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value MRVI The Nasdaq Stock Market
Filing Documents
- mrvi-20250102.htm (8-K) — 32KB
- mrvi-pressreleaseq42024pre.htm (EX-99.1) — 11KB
- 0001823239-25-000002.txt ( ) — 171KB
- mrvi-20250102.xsd (EX-101.SCH) — 2KB
- mrvi-20250102_lab.xml (EX-101.LAB) — 22KB
- mrvi-20250102_pre.xml (EX-101.PRE) — 13KB
- mrvi-20250102_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On January 8, 2024, Maravai LifeSciences Holdings, Inc. (the "Company") issued a press release announcing certain preliminary financial results for the year ended December 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein in its entirety by reference. The information in Item 2.02 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 2, 2025, the Company notified Andrew Burch, President, Nucleic Acid Production, that it was eliminating his position in order to flatten the organizational structure of its leadership team. As a result, Mr. Burch's last day of employment with the Company will be January 16, 2025. Following Mr. Burch's departure, Trey Martin, Chief Executive Officer, will assume direct responsibility for the Nucleic Acid Production segment. Mr. Burch's departure from the Company constitutes a termination without "cause" under the Second Amended and Restated Employment Agreement, dated as of February 25, 2024, by and among the Company, TriLink Biotechnologies, LLC, and Mr. Burch, which will entitle Mr. Burch to certain severance payments and benefits provided thereunder, subject to his timely execution and non-revocation of a general release and separation agreement.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 99.1 Press Release dated January 8 , 202 5 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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: January 8, 2025 By: /s/ Kevin M. Herde Name: Kevin M. Herde Title: Chief Financial Officer