| | Important Notice Regarding the Availability of Proxy Materials for the Stockholders’ Meeting to Be Held Virtually, Via Live Webcast at www.virtualshareholdermeeting.com/ | | |
| | The proxy statement and | | |
| | You are cordially invited to attend the virtual Annual Meeting. Whether or not you expect to attend the Annual Meeting, PLEASE VOTE YOUR SHARES. As an alternative to voting online at the Annual Meeting, you may vote via the internet, by telephone or, if you receive a paper proxy card, by mailing the completed proxy card. Voting instructions are provided in the Notice of Internet Availability of Proxy Materials, or, if you receive a paper proxy card by mail, the instructions are printed on your proxy card. | | |
| | Even if you have voted by proxy, you may still vote online if you attend the Annual Meeting. Please note, however, that if your shares are held of record by a broker, bank or other agent and you wish to vote at the Annual Meeting, you must follow the instructions from such organization and will need to obtain a proxy issued in your name from that record holder. | | |
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| | Internet proxy voting is provided to allow you to vote your shares online, with procedures designed to ensure the authenticity and correctness of your proxy vote instructions. However, please be aware that you must bear any costs associated with your internet access, such as usage charges from internet access providers and telephone companies. | | |
Name | | Audit | | Compensation | | Nominating and Corporate Governance | | | Audit | | Compensation | | Nominating and Corporate Governance | | ||||||||||||||||||||||||
Harrison M. Bains, Jr. | | | | X* | | | | | | | | | | X* | | | | | | | ||||||||||||||||||
Jeffrey Ives, Ph.D. | | | | | | | | | X | | | | | X | | | | | | | | | | | X | | | | | X | | | ||||||
Christopher Posner | | | | X | | | | | X | | | | | | | | | | | X | | | | | X | | | | | | | | ||||||
Martin Vogelbaum | | | | X | | | | | X* | | | | | X* | | | | | | X | | | | | X* | | | | | X* | | | ||||||
Total meetings during 2019 | | | | 4 | | | | | 7 | | | | | 1 | | | ||||||||||||||||||||||
Susan Shiff, Ph.D.† | | | | | | | | | X | | | | | X | | | ||||||||||||||||||||||
Total meetings during 2020 | | | | 4 | | | | | 4 | | | | | 2 | | |
Name | | | Age | | | Position(s) | |
Derek Chalmers, Ph.D., D.Sc. | | | | | President, Chief Executive Officer and Director | | |
Frédérique Menzaghi, Ph.D. | | | | | Chief Scientific Officer and Senior Vice President, Research and Development | | |
Joana Goncalves, M.D. | | | | | Chief Medical Officer | | |
Scott M. Terrillion | | | | | General Counsel, Secretary and Chief Compliance Officer | | |
Thomas Reilly | | | 49 | | | Chief Financial Officer | |
Name | | | Age | | | Position | |
Martin Vogelbaum | | | | | Director | | |
Harrison M. Bains, Jr. | | | | | Director | | |
Jeffrey Ives, Ph.D. | | | | | Director | | |
Christopher Posner | | | | | Director | | |
Susan Shiff, Ph.D. | | | 59 | | | Director | |
Director | | Fees paid in cash(1) | | Stock awards(2) | | Option awards(3)(4) | | Total | | | Fees Earned or Paid in Cash(1) | | Stock Awards(2)(4) | | Option Awards(3)(4) | | Total | | ||||||||||||||||||||||||||||||||
Martin Vogelbaum | | | $ | 108,000 | | | | $ | 122,820 | | | | $ | 121,704 | | | | $ | 352,524 | | | | | $ | 110,000 | | | | $ | 224,928 | | | | $ | 219,100 | | | | $ | 554,028 | | | ||||||||
Harrison M. Bains, Jr. | | | | 60,000 | | | | | 122,820 | | | | | 121,704 | | | | | 304,524 | | | | | | 60,000 | | | | | 112,464 | | | | | 109,550 | | | | | 282,014 | | | ||||||||
Jeffrey Ives, Ph.D. | | | | 51,500 | | | | | 122,820 | | | | | 121,704 | | | | | 296,024 | | | | | | 52,500 | | | | | 112,464 | | | | | 109,550 | | | | | 274,514 | | | ||||||||
Christopher Posner | | | | 57,500 | | | | | 122,820 | | | | | 121,704 | | | | | 302,024 | | | | | | 57,500 | | | | | 112,464 | | | | | 109,550 | | | | | 279,514 | | | ||||||||
Susan Shiff, Ph.D.(5) | | | | 26,979 | | | | | — | | | | | 419,307 | | | | | 446,286 | | |
Director | | | RSUs | | | Number of Shares Underlying Options | | ||||||
Martin Vogelbaum | | | | | | | | | | | | ||
Harrison M. Bains, Jr. | | | | | | | | | | | | ||
Jeffrey Ives, Ph.D. | | | | | | | | | | | | ||
Christopher Posner | | | | | | | | | | | | ||
Susan Shiff, Ph.D. | | | | | — | | | | | | 38,000(e) | | |
| | Member Annual Service Retainer | | Chairperson / Lead Independent Director and Committee Chair Annual Service Retainer | | | Member Annual Service Retainer | | Chairperson / Lead Independent Director and Committee Chair Annual Service Retainer | | ||||||||||||||||
Board of Directors | | | $ | 40,000 | | | | $ | 75,000 | | | | | $ | 40,000 | | | | $ | 75,000 | | | ||||
Audit Committee | | | | 10,000 | | | | | 20,000 | | | | | | 10,000 | | | | | 20,000 | | | ||||
Compensation Committee | | | | 7,500 | | | | | 15,000 | | | | | | 7,500 | | | | | 15,000 | | | ||||
Nominating and Corporate Governance Committee | | | | 4,000 | | | | | 8,000 | | | | | | 5,000 | | | | | 10,000 | | |
Name | | | Position(s) | |
Derek Chalmers, Ph.D., D.Sc. | | | President and Chief Executive Officer | |
Frédérique Menzaghi, Ph.D. | | | Chief Scientific Officer and Senior Vice President, Research and Development | |
Joana Goncalves, M.D. | | | Chief Medical Officer | |
Scott Terrillion | | | General Counsel, Secretary and Chief Compliance Officer | |
Thomas Reilly(1) | | | Chief Financial Officer | |
Richard Makara(1) | | | Vice President, Head of Accounting & Controller | |
| What we do: | | | What we do not do: | |
| ✓ Performance metrics tied to ✓ Multi-year vesting requirements. The equity awards we grant to our executive officers generally vest over multi-year periods, consistent with current market practice and our retention objectives. ✓ Double-trigger termination rights. Our agreements with our executive officers require both a change-in-control and a termination of employment for full severance benefits to be triggered. ✓ Independent compensation committee. Our compensation committee is comprised solely of independent members of our Board. ✓ Independent compensation consultant. Our compensation committee uses an independent compensation consultant that provides no other material services to the | | | ✘ No tax gross-ups. None of our employment-related agreements provide for excise tax “gross-ups.” ✘ No special perquisites. Except as otherwise discussed below, we generally do not provide our executives with perquisites or other personal benefits that differ materially from those available to employees generally. ✘ No retirement plans other than 401(k) ✘ No special health or welfare benefits. We do not provide our executives with any special health or welfare benefits. Our executive officers participate in the same broad-based company-sponsored health and welfare benefits programs offered to our other full-time, salaried employees. ✘ Hedging, short selling and pledging prohibited. Our insider trading policy prohibits our executive officers and directors from hedging, short selling or pledging our securities. | |
Element of Compensation | | | Objectives | | | Key Features | |
Base Salary (fixed cash) | | | Provides financial stability and security through a fixed amount of cash for performing job responsibilities. | | | Generally reviewed annually and determined based on a number of factors (including individual performance and the overall performance of our Company) and by reference, in part, to market data provided by our independent compensation consultant. | |
Annual Performance Bonus (at-risk cash) | | | Motivates and rewards for attaining key annual corporate performance goals and individual contributions that relate to our key business objectives. | | | Target bonus amounts are generally reviewed annually and determined based upon positions that have similar impact on the organization and competitive bonus opportunities in our market. Bonus opportunities are dependent upon achievement of specific corporate performance objectives consistent with our long-term strategic plan and individual performance objectives that relate to the officer’s role and expected contribution toward reaching our corporate goals, generally determined by the Compensation Committee and communicated at the beginning of the year. Actual bonus amounts earned are determined after the end of the year, taking into account corporate and individual performance objectives. | |
Long-Term Incentive (at-risk equity) | | | Motivates and rewards for long-term Company performance; aligns executives’ interests with stockholder interests and changes in stockholder value. Attracts highly qualified executives and encourages their continued employment over the long-term. | | | Equity opportunities are generally reviewed annually and may be granted during the first half of the year or as appropriate during the year for new hires, promotions, or other special circumstances, such as to encourage retention, or as a reward for significant achievement. Individual awards are determined based on a number of factors, including current corporate and individual performance and market data provided by our independent compensation consultant. Equity awards for 2020 consisted of a combination of stock options and RSUs. A portion of the RSUs are subject to time-based vesting, which we believe encourages long-term service to the company, and a portion of RSUs vest based on the achievement of corporate performance objectives, which we believe aligns the interests of management with our stockholders by rewarding them upon the Company’s achievement of value-creating milestones. | |
Executive | | | 2020 Base Salary | | | Percentage Increase in Base Salary from 2019 | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | $ | 576,800 | | | | | | 3% | | |
Frédérique Menzaghi, Ph.D. | | | | $ | 451,200 | | | | | | 3% | | |
Joana Goncalves, M.D. | | | | $ | 451,200 | | | | | | 3% | | |
Scott Terrillion | | | | $ | 412,000 | | | | | | 3% | | |
Richard Makara | | | | $ | 292,800 | | | | | | 3% | | |
| | | Target Bonus as Percentage of Base Salary (%) | | | Target Bonus ($) | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | 60 | | | | | | 346,080 | | |
Frédérique Menzaghi, Ph.D. | | | | | 40 | | | | | | 180,480 | | |
Joana Goncalves, M.D. | | | | | 40 | | | | | | 180,480 | | |
Scott Terrillion | | | | | 40 | | | | | | 164,800 | | |
Richard Makara | | | | | 40 | | | | | | 117,120 | | |
Thomas Reilly(1) | | | | | 40 | | | | | | 40,000 | | |
Named Executive Officer | | | Annual Bonus Payment ($) | | | Percent of Target Bonus (%) | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | 432,600(1) | | | | | | 125 | | |
Frédérique Menzaghi, Ph.D. | | | | | 180,480 | | | | | | 100 | | |
Joana Goncalves, M.D. | | | | | 180,480 | | | | | | 100 | | |
Scott Terrillion | | | | | 164,800 | | | | | | 100 | | |
Richard Makara | | | | | 117,120(2) | | | | | | 100 | | |
Thomas Reilly | | | | | 40,000(3) | | | | | | 100 | | |
Executive | | | Stock Option Grant (# shares) | | |||
Derek Chalmers, Ph.D., D.Sc. | | | | | 100,000 | | |
Frédérique Menzaghi, Ph.D. | | | | | 32,000 | | |
Joana Goncalves, M.D. | | | | | 32,000 | | |
Scott Terrillion | | | | | 32,000 | | |
Richard Makara | | | | | 30,000 | | |
Executive | | | Time-based RSUs (# shares) | | |||
Derek Chalmers, Ph.D., D.Sc. | | | | | 50,000 | | |
Frédérique Menzaghi, Ph.D. | | | | | 16,000 | | |
Joana Goncalves, M.D. | | | | | 16,000 | | |
Scott Terrillion | | | | | 16,000 | | |
| | | Performance-based RSUs (# shares) | | |||||||||
Executive | | | Target(1) | | | Stretch(2) | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | 50,000 | | | | | | 10,000 | | |
Frédérique Menzaghi, Ph.D. | | | | | 16,000 | | | | | | 10,000 | | |
Joana Goncalves, M.D. | | | | | 16,000 | | | | | | 10,000 | | |
Scott Terrillion | | | | | 16,000 | | | | | | 10,000 | | |
Name and Principal Position | | Year | | Salary | | Stock Awards(1) | | Option Awards(2) | | Non-Equity Incentive Plan Compensation(3) | | All Other Compensation(4) | | Total Compensation | | | Year | | Salary | | Bonus | | Stock Awards(1) | | Option Awards(2) | | Non-Equity Incentive Plan Compensation(3) | | All Other Compensation(4) | | Total | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derek Chalmers, Ph.D., D.Sc. President and Chief Executive Officer | | | | | 2019 | | | | $ | 560,000 | | | | $ | — | | | | $ | 2,551,783 | | | | $ | 310,800 | | | | $ | 11,034 | | | | $ | 3,433,617 | | | | | | | 2020 | | | | $ | 576,800 | | | | $ | 86,520(5) | | | | $ | 818,000 | | | | $ | 1,075,130 | | | | $ | 346,080 | | | | $ | 11,079 | | | | $ | 2,913,609 | | | |||||||||||||
| | | 2018 | | | | | 542,100 | | | | | — | | | | | 1,997,623 | | | | | 238,524 | | | | | 10,799 | | | | | 2,789,046 | | | | | | 2019 | | | | | 560,000 | | | | | — | | | | | — | | | | | 2,551,783 | | | | | 310,800 | | | | | 11,034 | | | | | 3,433,617 | | | ||||||||||||||||
| | | | | | | | | | 2018 | | | | | 542,100 | | | | | — | | | | | — | | | | | 1,997,623 | | | | | 238,524 | | | | | 10,799 | | | | | 2,789,046 | | | |||||||||||||||||||||||||||||||||||||||||||||
Thomas Reilly(6) Chief Financial Officer | | | | 2020 | | | | | 100,000(7) | | | | | 70,000(8) | | | | | — | | | | | 1,417,868 | | | | | — | | | | | 590 | | | | | 1,588,458 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||
Frédérique Menzaghi, Ph.D. Chief Scientific Officer and Senior Vice President, Research and Development | | | | | 2019 | | | | | 438,000 | | | | | — | | | | | 1,628,797 | | | | | 148,920 | | | | | 10,914 | | | | | 2,226,631 | | | | | | | 2020 | | | | | 451,200 | | | | | — | | | | | 261,760 | | | | | 344,042 | | | | | 323,349 | | | | | 10,959 | | | | | 1,391,310 | | | |||||||||||||
| | | 2018 | | | | | 400,000 | | | | | — | | | | | 615,428 | | | | | 212,000 | | | | | 10,799 | | | �� | | 1,238,227 | | | | | | 2019 | | | | | 438,000 | | | | | — | | | | | — | | | | | 1,628,797 | | | | | 148,920 | | | | | 10,914 | | | | | 2,226,631 | | | ||||||||||||||||
| | | | | | | | | | 2018 | | | | | 400,000 | | | | | — | | | | | — | | | | | 615,428 | | | | | 212,000 | | | | | 10,799 | | | | | 1,238,227 | | | |||||||||||||||||||||||||||||||||||||||||||||
Scott Terrillion(5) General Counsel, Secretary and Chief Compliance Officer | | | | 2019 | | | | | 400,000 | | | | | — | | | | | 814,399 | | | | | 160,000 | | | | | 11,034 | | | | | 1,385,433 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mani Mohindru(5)(6) Former Chief Financial Officer and Chief Strategy Officer | | | | 2019 | | | | | 472,001 | | | | | — | | | | | 814,399 | | | | | — | | | | | 10,866 | | | | | 1,297,266 | | |
Name and Principal Position | | | Year | | | Salary | | | Bonus | | | Stock Awards(1) | | | Option Awards(2) | | | Non-Equity Incentive Plan Compensation(3) | | | All Other Compensation(4) | | | Total | | ||||||||||||||||||||||||
Joana Goncalves, M.D.(6) Chief Medical Officer | | | | | 2020 | | | | | | 451,200 | | | | | | — | | | | | | 261,760 | | | | | | 344,042 | | | | | | 270,789 | | | | | | 10,911 | | | | | | 1,338,702 | | |
Scott Terrillion(6) General Counsel, Secretary and Chief Compliance Officer | | | | | 2020 | | | | | | 412,000 | | | | | | — | | | | | | 261,760 | | | | | | 344,042 | | | | | | 164,800 | | | | | | 11,079 | | | | | | 1,193,681 | | |
| | | 2019 | | | | | | 400,000 | | | | | | — | | | | | | — | | | | | | 814,399 | | | | | | 160,000 | | | | | | 11,034 | | | | | | 1,385,433 | | | ||
Richard Makara(6) VP, Head of Accounting and Controller | | | | | 2020 | | | | | | 292,800 | | | | | | 117,120 | | | | | | — | | | | | | 322,539 | | | | | | — | | | | | | 10,509 | | | | | | 742,968 | | |
| | | | | | | | | Estimated Future Payouts under Non-Equity Incentive Plan Awards(1) | | | Estimated Future Payouts under Equity Incentive Plan Awards(2) | | | All Other Stock Awards: Number of Shares of Stock or Units (#)(3) | | | All Other Option Awards: Number of Securities Underlying Options (#) | | | Exercise or Base Price of Option Awards ($/Share) | | | Grant Date Fair Value of Stock and Option Awards ($)(4) | | ||||||||||||||||||||||||||||||||||||
Name | | | Grant Date | | | Threshold ($) | | | Target ($) | | | Threshold (#) | | | Target (#) | | | Maximum (#) | | ||||||||||||||||||||||||||||||||||||||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | | | | | | | N/A | | | | | | 346,080 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | 12,500 | | | | | | 50,000 | | | | | | 60,000 | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 50,000 | | | | | | | | | | | | | | | | | | 818,000 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 100,000 | | | | | | 16.36 | | | | | | 1,075,130 | | | ||
Thomas Reilly | | | | | 10/1/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 175,000 | | | | | | 12.74 | | | | | | 1,417,868 | | |
Frédérique Menzaghi, Ph.D. | | | | | | | | | | | N/A | | | | | | 180,480 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | 90,309 | | | | | | 180,618 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | 8,000 | | | | | | 16,000 | | | | | | 26,000 | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,000 | | | | | | | | | | | | | | | | | | 261,760 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,000 | | | | | | 16.36 | | | | | | 344,042 | | | ||
Joana Goncalves, M.D. | | | | | | | | | | | N/A | | | | | | 180,480 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | 90,309 | | | | | | 180,618 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | 4,000 | | | | | | 16,000 | | | | | | 26,000 | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,000 | | | | | | | | | | | | | | | | | | 261,760 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,000 | | | | | | 16.36 | | | | | | 344,042 | | | ||
Scott Terrillion | | | | | | | | | | | N/A | | | | | | 164,800 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | 4,000 | | | | | | 16,000 | | | | | | 26,000 | | | | | | | | | | | | | | | | | | | | | | | | 0 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,000 | | | | | | | | | | | | | | | | | | 261,760 | | | ||
| | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,000 | | | | | | 16.36 | | | | | | 344,042 | | | ||
Richard Makara | | | | | 2/24/2020 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,000 | | | | | | 16.36 | | | | | | 322,539 | | |
| | | Base Salary | | |||||||||
Named Executive Officer | | | 2020 | | | 2019 | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | $ | 577,320 | | | | | $ | 560,000 | | |
Frédérique Menzaghi, Ph.D. | | | | | 451,546 | | | | | | 438,000 | | |
Scott Terrillion | | | | | 412,371 | | | | | | 400,000 | | |
Mani Mohindru(1) | | | | | — | | | | | | 472,001 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant date | | | Number of Securities Underlying Unexercised Options Exercisable | | | Number of Securities Underlying Unexercised Options Unexercisable | | | Option Exercise Price | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested(3) | | | Market Value of Shares of Units of Stock That Have Not Vested(4) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (5) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) | | |||||||||||||||||||||||||||
Derek Chalmers, Ph.D., D.Sc. President and Chief Executive Officer | | | | | 1/30/2014 | | | | | | 80,000 | | | | | | — | | | | | $ | 11.00 | | | | | | 1/30/2024 | | | | | | — | | | | | $ | — | | | | | | — | | | | | | — | | |
| | | 6/15/2015 | | | | | | 165,000 | | | | | | — | | | | | | 10.82 | | | | | | 6/15/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/30/2016 | | | | | | 191,000 | | | | | | — | | | | | | 6.00 | | | | | | 3/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/8/2017 | | | | | | 210,937 | | | | | | 14,063(1) | | | | | | 17.41 | | | | | | 3/8/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/9/2018 | | | | | | 128,906 | | | | | | 58,594(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/6/2019 | | | | | | 102,812 | | | | | | 132,188(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | 20,833 | | | | | | 79,167(1) | | | | | | 16.36 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | | 756,500 | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 41,250 | | | | | | 624,113 | | | ||
Thomas Reilly Chief Financial Officer | | | | | 10/1/2020 | | | | | | — | | | | | | 175,000(2) | | | | | | 12.74 | | | | | | 10/1/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||
Frédérique Menzaghi, Ph.D. Chief Scientific Officer and Senior Vice President, Research and Development | | | | | 1/30/2014 | | | | | | 40,000 | | | | | | — | | | | | | 11.00 | | | | | | 1/30/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 6/15/2015 | | | | | | 60,000 | | | | | | — | | | | | | 10.82 | | | | | | 6/15/2025 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/30/2016 | | | | | | 65,000 | | | | | | — | | | | | | 6.00 | | | | | | 3/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/8/2017 | | | | | | 70,312 | | | | | | 4,688(1) | | | | | | 17.41 | | | | | | 3/8/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/9/2018 | | | | | | 39,703 | | | | | | 18,047(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/6/2019 | | | | | | 65,625 | | | | | | 84,375(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | 6,666 | | | | | | 25,334(1) | | | | | | 16.36 | | | | | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,000 | | | | | | 242,080 | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,000 | | | | | | 272,340 | | | ||
Joana Goncalves, M.D. Chief Medical Officer | | | | | 10/22/2018 | | | | | | 135,416 | | | | | | 114,584(2) | | | | | | 19.27 | | | | | | 10/22/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 2/24/2020 | | | | | | 6,666 | | | | | | 25,334(1) | | | | | | 16.36 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,000 | | | | | | 242,080 | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 22,000 | | | | | | 332,860 | | | ||
Scott M. Terrillion General Counsel, Secretary and Chief Compliance Officer | | | | | 11/28/2016 | | | | | | 135,000 | | | | | | — | | | | | | 9.22 | | | | | | 11/28/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/9/2018 | | | | | | 31,968 | | | | | | 14,532(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/6/2019 | | | | | | 32,812 | | | | | | 42,188(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | — | | | | | ��� | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | 6,666 | | | | | | 25,334(1) | | | | | | 16.36 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 16,000 | | | | | | 242,080 | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,000 | | | | | | 302,600 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||||||
Name | | | Grant date | | | Number of Securities Underlying Unexercised Options Exercisable | | | Number of Securities Underlying Unexercised Options Unexercisable | | | Option Exercise Price | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested(3) | | | Market Value of Shares of Units of Stock That Have Not Vested(4) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (5) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(4) | | |||||||||||||||||||||||||||
Richard Makara Vice President, Head of Accounting & Controller | | | | | 10/17/2014 | | | | | | 25,000 | | | | | | — | | | | | | 8.03 | | | | | | 10/17/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | 3/30/2016 | | | | | | 9,167 | | | | | | — | | | | | | 6.00 | | | | | | 3/30/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/8/2017 | | | | | | 18,750 | | | | | | 1,250(1) | | | | | | 17.41 | | | | | | 3/8/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 8/17/2017 | | | | | | 16,666 | | | | | | 3,334(1) | | | | | | 13.51 | | | | | | 8/17/2027 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/6/2018 | | | | | | 13,750 | | | | | | 6,250(1) | | | | | | 14.18 | | | | | | 3/6/2028 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 3/6/2019 | | | | | | 13,125 | | | | | | 16,875(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | ||
| | | 2/24/2020 | | | | | | 6,250 | | | | | | 23,750(1) | | | | | | 16.36 | | | | | | 2/24/2030 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Named Executive Officer | | | Number Shares Underlying Options(1) | | | Grant Date Fair Value(2) | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | 235,000 | | | | | $ | 2,551,783 | | |
Frédérique Menzaghi, Ph.D. | | | | | 150,000 | | | | | | 1,628,797 | | |
Scott Terrillion | | | | | 75,000 | | | | | | 814,399 | | |
Mani Mohindru | | | | | 75,000 | | | | | | 814,399 | | |
| | | Stock Awards | | |||||||||
Name | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||
Derek Chalmers, Ph.D., D.Sc. | | | | | 38,750 | | | | | | 587,575 | | |
Thomas Reilly | | | | | — | | | | | | — | | |
Frédérique Menzaghi, Ph.D. | | | | | 45,500 | | | | | | 675,350 | | |
Joana Goncalves, M.D. | | | | | 34,000 | | | | | | 556,300 | | |
Scott M. Terrillion | | | | | 14,334 | | | | | | 216,376 | | |
Richard Makara | | | | | — | | | | | | — | | |
Name | | | Benefit(1) | | | Termination without Cause(1) | | | Resignation for Good Reason(1) | | | CIC Termination(1) | | |||||||||
Derek Chalmers, Ph.D., D.Sc. | | | Severance Payments | | | | $ | 576,800 | | | | | $ | 576,800 | | | | | $ | 576,800 | | |
| Payment of Employer Health Insurance Continuation | | | | | 729 | | | | | | 729 | | | | | | 729 | | | ||
| Target Bonus | | | | | 346,080 | | | | | | 346,080 | | | | | | 346,080 | | | ||
| Vesting Acceleration | | | | | — | | | | | | — | | | | | | 1,423,972 | | | ||
| Benefit Total | | | | $ | 923,609 | | | | | $ | 923,609 | | | | | $ | 2,347,581 | | | ||
Frédérique Menzaghi, Ph.D. | | | Severance Payments | | | | $ | 225,600 | | | | | | — | | | | | $ | 225,600 | | |
| Payment of Employer Health Insurance Continuation | | | | | 609 | | | | | | — | | | | | | 609 | | | ||
| Target Bonus | | | | | 180,480 | | | | | | — | | | | | | 180,480 | | | ||
| Vesting Acceleration | | | | | — | | | | | | — | | | | | | 527,775 | | | ||
| Benefit Total | | | | $ | 406,689 | | | | | | — | | | | | $ | 934,464 | | | ||
Joana Goncalves, M.D.(2) | | | Severance Payments | | | | $ | 338,400 | | | | | | — | | | | | $ | 338,400 | | |
| Payment of Employer Health Insurance Continuation | | | | | 561 | | | | | | — | | | | | | 561 | | | ||
| Target Bonus | | | | | 180,480 | | | | | | — | | | | | | 180,480 | | | ||
| Vesting Acceleration | | | | | — | | | | | | — | | | | | | 574,940 | | | ||
| Benefit Total | | | | $ | 519,441 | | | | | | — | | | | | $ | 1,094,381 | | | ||
Thomas Reilly(3) | | | Severance Payments(3) | | | | $ | 100,000 | | | | | | — | | | | | $ | 100,000 | | |
| Payment of Employer Health Insurance Continuation(3) | | | | | 140 | | | | | | — | | | | | | 140 | | | ||
| Target Bonus(3) | | | | | 40,000 | | | | | | — | | | | | | 40,000 | | | ||
| Vesting Acceleration | | | | | — | | | | | | — | | | | | | 418,250 | | | ||
| Benefit Total | | | | $ | 140,140 | | | | | | — | | | | | $ | 558,390 | | |
| | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
Name | | | Number of Securities Underlying Unexercised Options Exercisable | | | Number of Securities Underlying Unexercised Options Unexercisable | | | Option Exercise Price | | | Option Expiration Date | | | Number of shares or units of stock that have not vested(3) | | | Market value of shares of units of stock that have not vested(4) | | ||||||||||||||||||
Derek Chalmers, Ph.D., D.Sc. President and Chief Executive Officer | | | | | 80,000 | | | | | | — | | | | | $ | 11.00 | | | | | | 1/30/2024 | | | | | | 20,000 | | | | | $ | 322,200 | | |
| | | 165,000 | | | | | | — | | | | | | 10.82 | | | | | | 6/15/2025 | | | | | | | | | | | | | | | ||
| | | 178,875 | | | | | | 12,125(1) | | | | | | 6.00 | | | | | | 3/30/2026 | | | | | | | | | | | | | | | ||
| | | 154,687 | | | | | | 70,313(1) | | | | | | 17.41 | | | | | | 3/8/2027 | | | | | | | | | | | | | | | ||
| | | 82,031 | | | | | | 105,469(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | | | | | | | | | | ||
| | | 44,062 | | | | | | 190,938(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | | | | | | | | | | ||
Frédérique Menzaghi, Ph.D. Chief Scientific Officer and Senior Vice President, Research and Development | | | | | 40,000 | | | | | | — | | | | | | 11.00 | | | | | | 1/30/2024 | | | | | | 37,500 | | | | | | 604,125 | | |
| | | 60,000 | | | | | | — | | | | | | 10.82 | | | | | | 6/15/2025 | | | | | | | | | | | | | | | ||
| | | 60,937 | | | | | | 4,063(1) | | | | | | 6.00 | | | | | | 3/30/2026 | | | | | | | | | | | | | | | ||
| | | 51,562 | | | | | | 23,438(1) | | | | | | 17.41 | | | | | | 3/8/2027 | | | | | | | | | | | | | | | ||
| | | 25,265 | | | | | | 32,485(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | | | | | | | | | | ||
| | | 28,125 | | | | | | 121,875(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | | | | | | | | | | ||
Scott M. Terrillion General Counsel, Secretary and Chief Compliance Officer | | | | | 104,062 | | | | | | 30,938(2) | | | | | | 9.22 | | | | | | 11/28/2026 | | | | | | 8,334 | | | | | | 134,261 | | |
| | | 20,343 | | | | | | 26,157(1) | | | | | | 14.39 | | | | | | 3/9/2028 | | | | | | | | | | | | | | | ||
| | | 14,062 | | | | | | 60,938(1) | | | | | | 16.10 | | | | | | 3/6/2029 | | | | | | | | | | | | | | | ||
Mani Mohindru Former Chief Financial Officer and Chief Strategy Officer | | | | | 139,027 | | | | | | —(5) | | | | | | 14.06 | | | | | | 3/20/2020(5) | | | | | | —(5) | | | | | | —(5) | | |
| | | 14,062 | | | | | | —(5) | | | | | | 16.10 | | | | | | 3/20/2020(5) | | | | | | | | | | | | | | |
| | | Year Ended December 31, | | |||||||||
| | | 2019 | | | 2018 | | ||||||
| | | (in thousands) | | |||||||||
Audit fees(a) | | | | $ | 776 | | | | | $ | 361 | | |
Audit-related fees(b) | | | | | — | | | | | | 35 | | |
Tax fees | | | | | — | | | | | | — | | |
All other fees | | | | | — | | | | | | — | | |
Total | | | | $ | 776 | | | | | $ | 396 | | |
Name of beneficial owner | | | Number of Shares Beneficially Owned | | | Percentage of Shares Beneficially Owned | | ||||||
5% stockholders: | | | | | | | | | | | | | |
T. Rowe Price(1) | | | | | 4,660,614 | | | | | | 10.0% | | |
Blackrock, Inc.(2) | | | | | 3,546,310 | | | | | | 7.6 | | |
Rho Ventures VI, LP(3) | | | | | 3,193,057 | | | | | | 6.8 | | |
Directors and named executive officers: | | | | | | | | | | | | | |
Derek Chalmers, Ph.D., D.Sc.(4) | | | | | 1,721,739 | | | | | | 3.6 | | |
Frédérique Menzaghi, Ph.D.(5) | | | | | 371,183 | | | | | | * | | |
Scott M. Terrillion(6) | | | | | 186,488 | | | | | | * | | |
Mani Mohindru(7) | | | | | 17,441 | | | | | | * | | |
Martin Vogelbaum(8) | | | | | 96,500 | | | | | | * | | |
Harrison M. Bains, Jr.(8) | | | | | 96,500 | | | | | | * | | |
Jeffrey Ives, Ph.D.(9) | | | | | 74,000 | | | | | | * | | |
Christopher Posner(10) | | | | | 26,655 | | | | | | * | | |
All current executive officers and directors as a group (9 persons) (11) | | | | | 2,761,690 | | | | | | 5.7% | | |
Plan Category | | Number of shares of common stock to be issued upon exercise of outstanding options (a) | | Weighted-average exercise price of outstanding options (b)(2) | | Number of shares of common stock remaining available for future issuance under equity compensation plans (excluding shares of common stock reflected in column (a))(c) | | | Number of securities to be issued upon exercise of outstanding options (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b)(2) | | Number of securities remaining available for future issuance under equity compensation plans (excluding shares of common stock reflected in column (a))(c) | | ||||||||||||||||||||||||
Equity compensation plans approved by stockholders(1) | | | | 4,403,017 | | | | $ | 14.61 | | | | | 229,168(3) | | | ||||||||||||||||||||||
Equity compensation plans not approved by Stockholders(4) | | | | 47,500 | | | | | 25.88 | | | | | 252,500 | | | ||||||||||||||||||||||
Equity compensation plans approved by security holders (1) | | | | 5,421,893 | | | | $ | 14.93 | | | | | 284,380(3) | | | ||||||||||||||||||||||
Equity compensation plans not approved by security holders (4) | | | | 47,500 | | | | $ | 25.88 | | | | | 252,500 | | | ||||||||||||||||||||||
Total | | | | 4,450,517 | | | | | 14.73 | | | | | 481,668 | | | | | | 5,469,393 | | | | $ | 15.02 | | | | | 536,880 | | |
| | | Year Ended December 31, | | |||||||||
| | | 2020 | | | 2019 | | ||||||
| | | (in thousands) | | |||||||||
Audit fees(a) | | | | $ | 616 | | | | | $ | 776 | | |
Audit-related fees | | | | | — | | | | | | — | | |
Tax fees | | | | | — | | | | | | — | | |
All other fees | | | | | — | | | | | | — | | |
Total | | | | $ | 616 | | | | | $ | 776 | | |
Name of beneficial owner | | | Number of Shares Beneficially Owned | | | Percentage of Shares Beneficially Owned | | ||||||
5% stockholders: | | | | | | | | | | | | | |
T. Rowe Price(1) | | | | | 2,429,235 | | | | | | 4.9% | | |
Blackrock, Inc.(2) | | | | | 3,632,266 | | | | | | 7.3 | | |
Rho Ventures VI, LP(3) | | | | | 2,799,058 | | | | | | 5.6 | | |
First Manhattan Co.(4) | | | | | 3,212,796 | | | | | | 6.4 | | |
Vifor (International) Ltd.(5) | | | | | 4,114,379 | | | | | | 8.2 | | |
Directors and named executive officers: | | | | | | | | | | | | | |
Derek Chalmers, Ph.D., D.Sc.(6) | | | | | 1,889,448 | | | | | | 3.7 | | |
Thomas Reilly | | | | | — | | | | | | — | | |
Frédérique Menzaghi, Ph.D.(7) | | | | | 486,954 | | | | | | 1.0 | | |
Scott M. Terrillion(8) | | | | | 264,446 | | | | | | * | | |
Joana Goncalves(9) | | | | | 192,735 | | | | | | * | | |
Richard Makara(10) | | | | | 117,250 | | | | | | * | �� | |
Martin Vogelbaum(11) | | | | | 126,500 | | | | | | * | | |
Harrison M. Bains, Jr.(12) | | | | | 114,500 | | | | | | * | | |
Jeffrey Ives, Ph.D.(13) | | | | | 83,500 | | | | | | * | | |
Christopher Posner(14) | | | | | 54,310 | | | | | | * | | |
Susan Shiff, Ph.D.(15) | | | | | 9,500 | | | | | | * | | |
All current executive officers and directors as a group (10 persons)(16) | | | | | 3,221,893 | | | | | | 6.2% | | |