John McDonough, born on February 12, 1963, has a degree in Business Administration from Plymouth State College. He led T2 Biosystems, a biotech company, as CEO from 2008 until January 2020. During his time, he had significant ups and downs...

John McDonough, born on February 12, 1963, has a degree in Business Administration from Plymouth State College. He led T2 Biosystems, a biotech company, as CEO from 2008 until January 2020. During his time, he had significant ups and downs in compensation. In 2019, he earned around $925,000—his peak total compensation which included a large bonus for performance. Following his resignation, he transitioned to a role as Chairman of the Board. Interestingly, in stark contrast, his pay dipped to about $147,905 by 2020, with no stock grants vested since he wasn't CEO for the full year. Known for steering T2 Biosystems through various challenges, he was also the driving force behind receiving FDA clearance for their key product, T2Bacteria. McDonough's leadership style is centered around aligning company goals with individual performance, emphasizing collaboration and strategic milestones.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other T2 Biosystems CEOs

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John McDonough

Ex-CEO of T2 Biosystems

Education

B.S.B.A. from Stonehill College

Field of Expertise

Business & Management

Sector of Economy

Healthcare

Born

January 1, 1960 - 65 years ago

CEO of T2 Biosystems for

13 years 0 months (Jan 2007 - Jan 2020)

Previous Experience

President of Cytyc Development Corporation

Rivals

Competitors/colleagues of John McDonough

Holdings

See how much did John McDonough make over time.

At T2 Biosystems, John McDonough had substantial stock options during his tenure, contributing significantly to his wealth. At his peak in 2019, he had stock options valued at over $1.4 million but held no vested stock in 2020 as he...

At T2 Biosystems, John McDonough had substantial stock options during his tenure, contributing significantly to his wealth. At his peak in 2019, he had stock options valued at over $1.4 million but held no vested stock in 2020 as he transitioned out of the CEO role. His net worth has fluctuated as he navigated his leadership role during different stages of the company's growth. Shares granted as stock options have granted him varying levels of equity in T2, showcasing the ups and downs executives often face based on company performance and personal decisions.

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Total Stock Sold

$1.07B

TTOO

$1.07B

1,281.17 TTOO shares

What if they kept their stock?

If John McDonough didn't sell their stock, today they would have:
Extra TTOO1,281.17 shares worth $10.44M.
This is -99.02% and $1.06B less than what they got when they sold the stock.

Insider Trading

See recent insider trades of John McDonough.

TTOO

$21.09K

TTOO at $1.16/share

Jul 1, 2021

Sale

TTOO

$20.90K

TTOO at $0.88/share

Feb 3, 2020

Sale

TTOO

$66.03K

TTOO at $1.15/share

Jan 23, 2020

Sale

TTOO

$27.33K

TTOO at $3.36/share

Feb 9, 2019

Sale

TTOO

$48.89K

TTOO at $3.41/share

Nov 30, 2017

Sale

TTOO

33,130 shares

TTOO

Feb 9, 2018

Received

TTOO

$26.93K

TTOO at $4.28/share

Feb 9, 2018

Sale

Compensation History

See how much did John McDonough make over time.

John McDonough's compensation is quite the roller coaster. In 2019, he made a whopping $925,000 which included a hefty bonus as the company hit its performance targets. However, by 2020, his earnings dropped to around $147,905, largely due to his departure as CEO. His package included a base salary of $72,906 and a bonus part that created a large portion of his earnings. He received performance bonuses aligned with company goals, and no stock options vested in 2020 as he wasn’t in office for a full year. His focus was always to ensure that executive compensation aligned with company success, a principle he built into his leadership philosophy.

Year

2020

Total Compensation

$147.91K

Salary

$72.91K

Board Justification

The compensation programs are designed to attract and retain individuals with superior ability and managerial experience, aligning executive officers’ incentives with corporate strategies and business objectives.

Bonus

$75.00K

Board Justification

Mr. McDonough's target bonus for 2020 was 85% of his base salary and he was eligible to receive a prorated bonus for 2020 pursuant to the second amendment to his employment agreement.

Other

$0.00

Board Justification

No additional compensation was reported outside of salary and bonus.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock grants were vested in 2020 as he was not the CEO for the full year.

Performance Metrics

The determination of 2020 bonus amounts was based on a non-formulaic assessment of clinical, business development and financing milestones, and subjective evaluation of overall performance.

Other T2 Biosystems CEOs

Here are other CEOs of T2 Biosystems

John Sperzel

CEO of T2 Biosystems

January 2020 - Present