Bruce J. Barclay served as the CEO of SurModics, Inc. from July 2005 until December 2010. He has a solid background in the healthcare industry, holding a B.S. in chemistry and a B.A. in biology from Purdue University, along with...

Bruce J. Barclay served as the CEO of SurModics, Inc. from July 2005 until December 2010. He has a solid background in the healthcare industry, holding a B.S. in chemistry and a B.A. in biology from Purdue University, along with a J.D. from the Indiana University School of Law. Before leading SurModics, he was the President and CEO of Vascular Architects, and he had significant roles at Guidant Corporation where he was involved in key developments in the interventional cardiology field. He even worked at Eli Lilly, which is a big name in pharmaceuticals. During his time at SurModics, his pay fluctuated, showing the challenges of aligning executive compensation with company performance. For instance, in 2009, he earned about $1,034,900 while in 2010, the compensation dropped to $623,150, reflecting unmet corporate performance targets. He left behind a legacy of navigating SurModics through a tough market as its stock saw ups and downs, reminding everyone that running a healthcare company is not just about the numbers but also about innovation and competition.

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1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

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Bruce J Barclay

CEO of Surmodics, Inc.

Education

B.S. in Chemistry and B.A. in Biology from Purdue University, J.D. from Indiana University School of Law

Field of Expertise

Legal & Compliance

Sector of Economy

Healthcare

CEO of Surmodics, Inc. for

19 years 11 months (Jul 2005 - Present)

Previous Experience

President and CEO of Vascular Architects, Inc.

Rivals

Competitors/colleagues of Bruce J Barclay

Holdings

See how much did Bruce J Barclay make over time.

During his time as CEO, Bruce J. Barclay had notable stakes in Surmodics, Inc., reflecting his investment in the company's future. In 2005, his options were valued at around $335,557 but fluctuated significantly over the years. By 2009, he exercised...

During his time as CEO, Bruce J. Barclay had notable stakes in Surmodics, Inc., reflecting his investment in the company's future. In 2005, his options were valued at around $335,557 but fluctuated significantly over the years. By 2009, he exercised options that increased in value as the stock fluctuated between $25.80 to $41.05 over several months, showcasing the volatility in the biotech industry. In 2010, when he left the company, his total holdings and option values were significantly lower due to the tough performance year, hinting at the challenges of the medical device market. The company's reliance on royalties from key partnerships created a scenario where Barclay’s wealth was closely tied to the performance of these agreements, ultimately impacting how both he and the company performed financially. Overall, his financial stakes in the company offered a glimpse into the risks and rewards inherent in the healthcare field.

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Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Bruce J Barclay make over time.

Bruce J. Barclay's approach to compensation was tied closely to his performance metrics. Starting with a base salary of $250,000 in 2005, his salary grew to $374,585 in 2009, but this came with no bonuses due to unmet performance objectives. In 2010, as he departed, his total compensation was a way lower $623,150, reflecting the serious impact of the company's performance on his pay. His compensation was structured to include base salary, bonuses based on corporate and business unit performance, and equity options that hinged on achieving set goals. This pay structure highlights how executive compensation in healthcare is often steeped in both risk and opportunity, fluctuating with the company's ups and downs and the ever-changing market conditions.

Year

2010

Total Compensation

$276.75K

Salary

$274.43K

Board Justification

The compensation philosophy is performance-based, focusing on aligning the financial interests of executive officers with those of shareholders, with a substantial portion of total compensation at risk.

Bonus

$0.00

Board Justification

No cash incentive payments were made under the Company’s annual incentive plan for fiscal 2010 due to unmet corporate performance objectives.

Other

$2.32K

Board Justification

Other compensation includes matching contributions to the 401(k) Plan and other benefits.

Restricted Stock

$0.00(0 N/A)

Board Justification

No stock options or performance shares vested in fiscal 2010 as performance targets were not met.

Performance Metrics

Performance metrics included achievement of corporate financial goals and business unit performance objectives.