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ANNUAL REPORT ON FORM 10-K | | | | | | | |
| | | | | |
Proposal | | | Vote Required | | | Discretionary Voting Permitted? | |
1. Election of Directors | | | Plurality | | | No | |
2. Approval of the Ratification of the Appointment of Ernst & Young LLP as our Independent Registered Public Accounting Firm | | | Majority of votes properly cast | | | Yes | |
3. Approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended to date, to increase the number of authorized shares of common stock from 150,000,000 to 300,000,000 | | | Majority of outstanding shares | | | Yes | |
4. Amendment of the company’s amended and restated certificate of incorporation to limit the liability of certain officers of the company | | | Majority of outstanding shares | | | No | |
5. The advisory, non-binding vote on the compensation of our named executive officers | | | Majority of votes properly cast | | | No | |
6. Approval, on a non-binding, advisory basis, the preferred frequency of future advisory votes on compensation of our named executive officers | | | Highest number of affirmative votes cast | | | No | |
Name | | | Positions and Offices Held with Scholar Rock | | | Director Since | | | Age | |
David Hallal | | | Director | | | 2017 | | | 56 | |
Kristina Burow | | | Director | | | 2014 | | | 49 | |
Michael Gilman, Ph.D. | | | Director | | | 2013 | | | 68 | |
Name | | | Positions and Offices Held with Scholar Rock | | | Director Since | | | Age | |
Richard Brudnick | | | Director | | | 2023 | | | 67 | |
Jeffrey S. Flier, M.D. | | | Director | | | 2016 | | | 76 | |
Akshay Vaishnaw, M.D.,Ph.D. | | | Director | | | 2019 | | | 61 | |
Name | | Positions and Offices Held with Scholar Rock | | Director Since | | Class and Year in Which Term Will Expire | | Age | | | Positions and Offices Held with Scholar Rock | | Director Since | | Class and Year in Which Term Will Expire | | Age | | ||||||||
Srinivas Akkaraju, M.D., Ph.D. | | Director | | 2022 | | Class I — 2025 | | 55 | | | Director | | 2022 | | Class I — 2025 | | 56 | | ||||||||
Jay Backstrom, M.D., M.P.H. | | Director | | 2022 | | Class I — 2025 | | 68 | | | Director | | 2022 | | Class I — 2025 | | 70 | | ||||||||
Joshua Reed | | Director | | 2021 | | Class I — 2025 | | 50 | | | Director | | 2021 | | Class I — 2025 | | 51 | | ||||||||
Richard H. Brudnick | | Director | | 2023 | | Class III — 2024 | | 66 | | |||||||||||||||||
Jeffrey S. Flier, M.D. | | Director | | 2016 | | Class III — 2024 | | 75 | | |||||||||||||||||
Amir Nashat, Sc. D. | | Director | | 2012 | | Class III — 2024 | | 50 | | |||||||||||||||||
Akshay Vaishnaw, M.D., Ph.D. | | Director | | 2019 | | Class III — 2024 | | 60 | | |||||||||||||||||
David Hallal | | Director | | 2017 | | Class II — 2026 | | 57 | | |||||||||||||||||
Kristina Burow | | Director | | 2014 | | Class II — 2026 | | 50 | | |||||||||||||||||
Michael Gilman, Ph.D. | | Director | | 2013 | | Class II — 2026 | | 69 | | |||||||||||||||||
Katie Peng | | Director | | 2024 | | Class II — 2026 | | 54 | | |||||||||||||||||
Amir Nashat, Sc.D.(1) | | Director | | 2012 | | Class III — 2024 | | 51 | |
| Board Size: | | | | | | ||||||||||||||
| Total Number of Directors | | | | | 11 | | | | | | | | | | | | | | |
| Gender: | | | Male | | | Female | | | Non-Binary | | | Did not Disclose Gender | | ||||||
| Number of directors based on gender identity | | | | | 9 | | | | | | 2 | | | | | | | | |
| Number of directors who identify in any of the categories below: | | | | | | | | | | | | | | | | | | | |
| African American or Black | | | | | 1 | | | | | | | | | | | | | | |
| Alaskan Native or American Indian | | | | | | | | | | | | | | | | | | | |
| Asian | | | | | 3 | | | | | | 1 | | | | | | | | |
| Hispanic or Latinx | | | | | | | | | | | | | | | | | | | |
| Native Hawaiian or Pacific Islander | | | | | | | | | | | | | | | | | | | |
| White | | | | | 5 | | | | | | 1 | | | | | | | | |
| Two or More Races or Ethnicities | | | | | | | | | | | | | | | | | | | |
| LGBTQ+ | | | | | | | | | | | | | | | | | | | |
| Undisclosed | | | | | | | | | | | | | | | | | | | |
| Board Size: | | | | | | ||||||||||||||
| Total Number of Directors | | | | | 10 | | | | | | | | | | | | | | |
| Gender: | | | Male | | | Female | | | Non-Binary | | | Did not Disclose Gender | | ||||||
| Number of directors based on gender identity | | | | | 9 | | | | | | 1 | | | | | | | | |
| Number of directors who identify in any of the categories below: | | | | | | | | | | | | | | | | | | | |
| African American or Black | | | | | 1 | | | | | | | | | | | | | | |
| Alaskan Native or American Indian | | | | | | | | | | | | | | | | | | | |
| Asian | | | | | 3 | | | | | | | | | | | | | | |
| Hispanic or Latinx | | | | | | | | | | | | | | | | | | | |
| Native Hawaiian or Pacific Islander | | | | | | | | | | | | | | | | | | | |
| White | | | | | 5 | | | | | | 1 | | | | | | | | |
| Two or More Races or Ethnicities | | | | | | | | | | | | | | | | | | | |
| LGBTQ+ | | | | | | | | | | | | | | | | | | | |
| Undisclosed | | | | | | | | | | | | | | | | | | | |
Name | | | Position Held with Scholar Rock | | | Officer Since | | | Age | |
Jay Backstrom, M.D., M.P.H. | | | Chief Executive Officer & President | | | 2022 | | | 68 | |
Junlin Ho, J.D. | | | General Counsel & Corporate Secretary | | | 2021 | | | 44 | |
Jing Marantz, M.D., Ph.D., M.B.A. | | | Chief Medical Officer | | | 2022 | | | 58 | |
Edward H. Myles, M.B.A. | | | Chief Operating Officer and Chief Financial Officer | | | 2020 | | | 51 | |
Caryn Parlavecchio | | | Chief Human Resources Officer | | | 2021 | | | 51 | |
Mo Qatanani, Ph.D. | | | Senior Vice President and Head of Research | | | 2022 | | | 49 | |
Tracey Sacco | | | Chief Commercial Officer | | | 2022 | | | 46 | |
Name | | | Position Held with Scholar Rock | | | Officer Since | | | Age | |
Jay Backstrom, M.D., M.P.H. | | | Chief Executive Officer & President | | | 2022 | | | 70 | |
Junlin Ho, J.D. | | | General Counsel & Corporate Secretary | | | 2021 | | | 45 | |
Jing Marantz, M.D., Ph.D. | | | Chief Medical Officer | | | 2022 | | | 59 | |
Edward H. Myles, M.B.A. | | | Chief Operating Officer and Chief Financial Officer | | | 2020 | | | 52 | |
Caryn Parlavecchio | | | Chief Human Resources Officer | | | 2021 | | | 52 | |
Mo Qatanani, Ph.D. | | | Chief Scientific Officer | | | 2022 | | | 50 | |
Tracey Sacco | | | Chief Commercial Officer | | | 2023 | | | 47 | |
| | 2022 | | 2021 | | | 2023 | | 2022 | | ||||||||||||||||
Audit fees(1) | | | $ | 873 | | | | $ | 825 | | | | | $ | 827 | | | | $ | 873 | | | ||||
Audit-related fees(2) | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Tax fees(3) | | | | 63 | | | | | 169 | | | | | | 41 | | | | | 63 | | | ||||
All other fees | | | | — | | | | | 1 | | | | | | — | | | | | — | | | ||||
Total fees | | | $ | 936 | | | | $ | 995 | | | | | $ | 868 | | | | $ | 936 | | |
Name | | Fees Earned or Paid in Cash ($)(1) | | Stock Awards ($) | | Option Awards ($)(4) | | Total ($) | | | Fees Earned or Paid in Cash ($)(1) | | Option Awards ($)(2)(3) | | Total ($) | | ||||||||||||||||||||||||||||
David Hallal | | | | 169,804 | | | | | — | | | | | 146,125(5) | | | | | 315,929 | | | | | | 171,000 | | | | | 245,704 | | | | | 416,704 | | | |||||||
Srinivas Akkaraju, M.D., Ph.D. | | | | 17,282(2) | | | | | — | | | | | 376,729(6) | | | | | 394,011 | | | | | | 45,522(4) | | | | | 245,704 | | | | | 291,226 | | | |||||||
Richard Brudnick | | | | 36,813 | | | | | 331,151(5) | | | | | 367,964 | | | ||||||||||||||||||||||||||||
Kristina Burow | | | | 60,195 | | | | | — | | | | | 96,670(7) | | | | | 156,865 | | | | | | 54,637 | | | | | 245,704 | | | | | 300,341 | | | |||||||
Jeffrey S. Flier, M.D. | | | | 59,603 | | | | | — | | | | | 96,670(8) | | | | | 156,273 | | | | | | 60,000 | | | | | 245,704 | | | | | 305,704 | | | |||||||
Michael Gilman, Ph.D. | | | | 53,099 | | | | | — | | | | | 146,125(9) | | | | | 199,224 | | | | | | 53,500 | | | | | 245,704 | | | | | 299,204 | | | |||||||
Amir Nashat, Sc.D. | | | | 48,997(3) | | | | | — | | | | | 96,670(10) | | | | | 145,667 | | | | | | 50,000(6) | | | | | 245,704 | | | | | 295,704 | | | |||||||
Joshua Reed | | | | 57,995 | | | | | — | | | | | 96,670(11) | | | | | 154,665 | | | | | | 60,000 | | | | | 245,704 | | | | | 305,704 | | | |||||||
Akshay Vaishnaw, M.D., Ph.D. | | | | 52,103 | | | | | — | | | | | 146,125(12) | | | | | 198,228 | | | | | | 52,500 | | | | | 245,704 | | | | | 298,204 | | |
Name | | | Number of Shares Underlying Options | | |||
David Hallal | | | | | 247,198 | | |
Srinivas Akkaraju, M.D., Ph.D. | | | | | 92,000 | | |
Richard Brudnick | | | | | 56,000 | | |
Kristina Burow | | | | | 115,274 | | |
Jeffrey S. Flier, M.D. | | | | | 120,089 | | |
Michael Gilman, Ph.D. | | | | | 130,588 | | |
Amir Nashat, Sc.D. | | | | | 115,274 | | |
Joshua Reed | | | | | 79,600 | | |
Akshay Vaishnaw, M.D., Ph.D. | | | | | 120,429 | | |
| | 2022 Annual Retainer | | | 2023 Annual Retainer | | ||||||||
Board of Directors: | | | | | | | | | | | | | ||
Nonemployee member | | | $ | 40,000 | | | | | $ | 40,000 | | | ||
Additional fee for Non-Executive Chairman of the Board | | | $ | 115,000 | | | ||||||||
Additional fee for Non-Executive Chair of the Board | | | $ | 115,000 | | | ||||||||
Audit Committee: | | | | | | | | | | | | | ||
Member | | | $ | 10,000(1) | | | | | $ | 10,000 | | | ||
Additional fee for Chairman | | | $ | 10,000(1) | | | ||||||||
Additional fee for Chair | | | $ | 10,000 | | | ||||||||
Compensation Committee: | | | | | | | | | | | | | ||
Member | | | $ | 6,000(2) | | | | | $ | 6,000 | | | ||
Additional fee for Chairman | | | $ | 6,000(2) | | | ||||||||
Additional fee for Chair | | | $ | 6,000 | | | ||||||||
Nominating and Corporate Governance Committee: | | | | | | | | | | | | | ||
Member | | | $ | 5,000(3) | | | | | $ | 5,000 | | | ||
Additional fee for Chairman | | | $ | 5,000(3) | | | ||||||||
Additional fee for Chair | | | $ | 5,000 | | | ||||||||
Science, Innovation and Technology Committee: | | | | | | | | | | | | | ||
Member | | | $ | 7,500 | | | | | $ | 7,500 | | | ||
Additional fee for Chairman | | | $ | 7,500 | | | ||||||||
Additional fee for Chair | | | $ | 7,500 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Stock Awards ($)(1) | | | Option Award ($)(1) | | | Non-Equity Incentive Plan Compensation ($)(2) | | | All Other Compensation ($)(3) | | | Total ($) | | |||||||||||||||||||||
Jay Backstrom, M.D., M.P.H. President and Chief Executive Officer | | | | | 2022 | | | | | | 159,231(4) | | | | | | — | | | | | | 6,809,500 | | | | | | 100,603 | | | | | | 6,925(5) | | | | | | 7,076,259 | | |
Edward H. Myles, M.B.A. Chief Operating Officer & Chief Financial Officer | | | | | 2022 | | | | | | 466,577 | | | | | | 1,402,885 | | | | | | 1,038,517 | | | | | | 188,201 | | | | | | 13,707(6) | | | | | | 3,109,887 | | |
| | | 2021 | | | | | | 444,769 | | | | | | 1,423,160 | | | | | | 3,477,028 | | | | | | 158,331 | | | | | | 12,765 | | | | | | 5,516,053 | | | ||
Junlin Ho, J.D. General Counsel and Secretary | | ��� | | | 2022 | | | | | | 394,039 | | | | | | 899,130 | | | | | | 665,497 | | | | | | 159,185 | | | | | | 10,505(6) | | | | | | 2,128,356 | | |
Greg Carven, Ph.D. Former Chief Scientific Officer | | | | | 2022 | | | | | | 333,862(7) | | | | | | 1,329,010(8) | | | | | | 1,383,490(9) | | | | | | — | | | | | | 40,609(10) | | | | | | 3,086,971 | | |
Nagesh K. Mahanthappa, Ph.D. Former Interim Chief Executive Officer and President | | | | | 2022 | | | | | | 480,600(11) | | | | | | 1,429,236(12) | | | | | | 862,414(13) | | | | | | — | | | | | | 71,611(14) | | | | | | 2,843,861 | | |
| | | 2021 | | | | | | 219,420(15) | | | | | | — | | | | | | 4,739,043(16) | | | | | | 128,765 | | | | | | 8,036 | | | | | | 5,095,264 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock Awards ($)(1) | | | Option Award ($)(1) | | | Non-Equity Incentive Plan Compensation ($)(2) | | | All Other Compensation ($)(3) | | | Total ($) | | ||||||||||||||||||||||||
Jay Backstrom, M.D., M.P.H. President, and Chief Executive Officer | | | | | 2023 | | | | | | 623,538 | | | | | | | | | | | | 1,500,000 | | | | | | 1,540,180 | | | | | | 430,560 | | | | | | 17,575(4) | | | | | | 4,111,853 | | |
| | | 2022 | | | | | | 159,231(5) | | | | | | | | | | | | — | | | | | | 6,809,500 | | | | | | 100,603 | | | | | | 6,925 | | | | | | 7,076,259 | | | ||
Edward H. Myles, Chief Operating Officer and Chief Financial Officer | | | | | 2023 | | | | | | 486,615 | | | | | | | | | | | | 637,500 | | | | | | 654,577 | | | | | | 219,637 | | | | | | 14,534(4) | | | | | | 2,012,863 | | |
| | | 2022 | | | | | | 466,577 | | | | | | | | | | | | 1,402,885 | | | | | | 1,038,517 | | | | | | 188,201 | | | | | | 13,707 | | | | | | 3,109,887 | | | ||
Tracey Sacco, Chief Commercial Officer | | | | | 2023 | | | | | | 367,115(6) | | | | | | 25,000(7) | | | | | | — | | | | | | 1,732,703 | | | | | | 143,192 | | | | | | 13,548(4) | | | | | | 2,306,558 | | |
| Alector, Inc. | | | Crinetics Pharmaceuticals, Inc. | | | Replimune Group, Inc. | |
| AnaptysBios, Inc. | | | Deciphera Pharmaceuticals, Inc. | | | Rocket Pharmaceuticals, Inc. | |
| Arcus Biosciences, Inc. | | | Day One Pharmaceuticals, Inc. | | | Rhythm Pharmaceuticals, Inc. | |
| Arrowhead Pharmaceuticals, Inc. | | | Denali Therapeutics, Inc. | | | Springworks Therapeutics, Inc. | |
| Aura Biosciences, Inc. | | | Dyne Therapeutics. Inc. | | | Syndax Pharmaceuticals Inc. | |
| Axsome Therapeutics, Inc. | | | iTeos Therapeutics S.A. | | | Viridian Therapeutics, Inc. | |
| Biohaven Ltd. | | | Pliant Therapeutics, Inc. | | | Y-mAbs Therapeutics, Inc. | |
Named Executive Officer | | | 2022 Base Salary ($) | | | 2023 Base Salary ($) | | | Percentage Increase | | |||||||||
Jay Backstrom | | | | | 600,000 | | | | | | 624,000 | | | | | | 4.0% | | |
Edward H. Myles | | | | | 467,000 | | | | | | 487,000 | | | | | | 4.2% | | |
Tracey Sacco(1) | | | | | N/A | | | | | | 415,000 | | | | | | N/A | | |
Named Executive Officer | | | 2023 Target Bonus (% of Base Salary) | | |||
Jay Backstrom | | | | | 60% | | |
Edward H. Myles | | | | | 40% | | |
Tracey Sacco | | | | | 40% | | |
| | | | | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
Name and Principal Position(9) | | | Grant Date | | | Number of Securities Underlying Unexercised Options (# Exercisable) | | | Number of Securities Underlying Unexercised Options (# Unexercisable) | | | Option Exercise Price | | | Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock that Have Not Vested ($)(1) | | |||||||||||||||||||||
Jay Backstrom, M.D., M.P.H. President and Chief Executive Officer | | | | | 09/20/2022(2) | | | | | | — | | | | | | 1,000,000 | | | | | $ | 8.85 | | | | | | 09/20/2032 | | | | | | — | | | | | | — | | |
Edward H. Myles, M.B.A. Chief Operating Officer and Chief Financial Officer | | | | | 07/16/2020(3) | | | | | | 78,125 | | | | | | 109,375 | | | | | $ | 13.83 | | | | | | 07/16/2030 | | | | | | — | | | | | | — | | |
| | | 02/01/2021(4) | | | | | | 35,218 | | | | | | 45,282 | | | | | $ | 58.93 | | | | | | 02/01/2031 | | | | | | — | | | | | | — | | | ||
| | | 02/01/2021(5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 18,113 | | | | | $ | 163,923 | | | ||
| | | 02/14/2022(6) | | | | | | 10,781 | | | | | | 46,719 | | | | | $ | 18.08 | | | | | | 02/14/2032 | | | | | | — | | | | | | — | | | ||
| | | 02/14/2022(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 57,500 | | | | | $ | 520,375 | | | ||
| | | 06/16/2022(8) | | | | | | 12,458 | | | | | | 62,292 | | | | | $ | 4.86 | | | | | | 06/16/2032 | | | | | | — | | | | | | — | | | ||
| | | 06/16/2022(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 74,750 | | | | | $ | 676,488 | | | ||
Junlin Ho, J.D. General Counsel and Secretary | | | | | 04/03/2018(18) | | | | | | 42,974 | | | | | | — | | | | | $ | 7.17 | | | | | | 04/03/2028 | | | | | | — | | | | | | — | | |
| | | 05/23/2018(11) | | | | | | 7,005 | | | | | | — | | | | | $ | 14.00 | | | | | | 05/23/2028 | | | | | | — | | | | | | — | | | ||
| | | 01/31/2019(12) | | | | | | 10,125 | | | | | | — | | | | | $ | 15.11 | | | | | | 01/31/2029 | | | | | | — | | | | | | — | | | ||
| | | 02/06/2020(13) | | | | | | 25,128 | | | | | | 11,422 | | | | | $ | 13.52 | | | | | | 02/06/2030 | | | | | | — | | | | | | — | | | ||
| | | 03/23/2020(19) | | | | | | 6,462 | | | | | | 2,938 | | | | | $ | 14.75 | | | | | | 03/23/2030 | | | | | | — | | | | | | — | | | ||
| | | 02/01/2021(4) | | | | | | 16,843 | | | | | | 21,657 | | | | | $ | 58.93 | | | | | | 02/01/2031 | | | | | | — | | | | | | — | | | ||
| | | 02/01/2021(5) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 8,663 | | | | | $ | 78,400 | | | ||
| | | 02/14/2022(6) | | | | | | 7,031 | | | | | | 30,469 | | | | | $ | 18.08 | | | | | | 02/14/2032 | | | | | | — | | | | | | — | | | ||
| | | 02/14/2022(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 37,500 | | | | | $ | 339,375 | | | ||
| | | 06/16/2022(8) | | | | | | 7,583 | | | | | | 37,917 | | | | | $ | 4.86 | | | | | | 06/16/2032 | | | | | | — | | | | | | — | | | ||
| | | 06/16/2022(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45,500 | | | | | $ | 411,775 | | | ||
Greg Carven, Ph.D. Former Chief Scientific Officer | | | | | 02/20/2018(10) | | | | | | 20,283 | | | | | | — | | | | | $ | 5.77 | | | | | | 02/20/2028 | | | | | | — | | | | | | — | | |
| | | 05/23/2018(11) | | | | | | 4,399 | | | | | | — | | | | | $ | 14.00 | | | | | | 05/23/2028 | | | | | | — | | | | | | — | | | ||
| | | 01/31/2019(12) | | | | | | 22,136 | | | | | | — | | | | | $ | 15.11 | | | | | | 01/31/2029 | | | | | | — | | | | | | — | | | ||
| | | 02/06/2020(13) | | | | | | 26,683 | | | | | | 12,130 | | | | | $ | 13.52 | | | | | | 02/06/2030 | | | | | | — | | | | | | — | | | ||
| | | 05/29/2020(20) | | | | | | 31,250 | | | | | | 18,750 | | | | | $ | 18.40 | | | | | | 05/29/2030 | | | | | | — | | | | | | — | | | ||
| | | 02/01/2021(4) | | | | | | 18,375 | | | | | | 23,625 | | | | | $ | 58.93 | | | | | | 02/01/2031 | | | | | | — | | | | | | — | | | ||
| | | 02/01/2021(5) | | | | | | — | �� | | | | | — | | | | | | — | | | | | | — | | | | | | 9,450 | | | | | $ | 85,523 | | | ||
| | | 02/14/2022(6) | | | | | | 6,562 | | | | | | 28,438 | | | | | $ | 18.08 | | | | | | 02/14/2032 | | | | | | — | | | | | | — | | | ||
| | | 02/14/2022(7) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 35,000 | | | | | $ | 316,750 | | | ||
| | | 06/16/2022(8) | | | | | | 7,583 | | | | | | 37,917 | | | | | $ | 4.86 | | | | | | 06/16/2032 | | | | | | — | | | | | | — | | | ||
| | | 06/16/2022(9) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 45,500 | | | | | $ | 411,775 | | | ||
Nagesh K. Mahanthappa, Ph.D. Interim Chief Executive Officer and President | | | | | 02/20/2018(10) | | | | | | 52,543 | | | | | | — | | | | | $ | 5.77 | | | | | | 02/20/2028 | | | | | | — | | | | | | — | | |
| | | 05/23/2018(11) | | | | | | 46,030 | | | | | | — | | | | | $ | 14.00 | | | | | | 05/23/2028 | | | | | | — | | | | | | — | | | ||
| | | 01/31/2019(12) | | | | | | 57,242 | | | | | | — | | | | | $ | 15.11 | | | | | | 01/31/2029 | | | | | | — | | | | | | — | | | ||
| | | 02/06/2020(13) | | | | | | 71,750 | | | | | | 51,250 | | | | | $ | 13.52 | | | | | | 02/06/2030 | | | | | | — | | | | | | — | | | ||
| | | 02/14/2022(14) | | | | | | 37,500 | | | | | | 12,500 | | | | | $ | 18.08 | | | | | | 02/14/2032 | | | | | | — | | | | | | — | | | ||
| | | 02/14/2022(15) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | $ | 452,500 | | | ||
| | | 06/16/2022(16) | | | | | | 25,000 | | | | | | 25,000 | | | | | $ | 4.86 | | | | | | 06/16/2032 | | | | | | — | | | | | | — | | | ||
| | | 06/16/2022(17) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,000 | | | | | $ | 452,500 | | |
| | | | | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||
Name and Principal Position(9) | | | Grant Date | | | Number of Securities Underlying Unexercised Options (# Exercisable) | | | Number of Securities Underlying Unexercised Options (# Unexercisable) | | | Option Exercise Price | | | Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares that Have not Vested ($)(1) | | |||||||||||||||||||||
Jay Backstrom, M.D., M.P.H. President, and Chief Executive Officer | | | | | 09/20/2022(2) | | | | | | 312,500 | | | | | | 687,500 | | | | | $ | 8.85 | | | | | | 09/20/2032 | | | | | | | | | | | | | | |
| | | 02/13/2023(3) | | | | | | 37,500 | | | | | | 162,500 | | | | | $ | 10.00 | | | | | | 02/13/2033 | | | | | | | | | | | | | | | ||
| | | 02/13/2023(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 150,000 | | | | | $ | 2,820,000 | | | ||
Edward H. Myles Chief Operating Officer and Chief Financial Officer | | | | | 07/16/2020(5) | | | | | | 140,625 | | | | | | 46,875 | | | | | $ | 13.83 | | | | | | 07/16/2030 | | | | | | | | | | | | | | |
| | | 02/01/2021(6) | | | | | | 55,343 | | | | | | 25,157 | | | | | $ | 58.93 | | | | | | 02/01/2031 | | | | | | | | | | | | | | | ||
| | | 02/01/2021(7) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 12,075 | | | | | $ | 227,010 | | | ||
| | | 02/14/2022(8) | | | | | | 25,156 | | | | | | 32,344 | | | | | $ | 18.08 | | | | | | 02/14/2032 | | | | | | | | | | | | | | | ||
| | | 02/14/2022(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 43,125 | | | | | $ | 810,750 | | | ||
| | | 06/16/2022(10) | | | | | | 2 | | | | | | 37,375 | | | | | $ | 4.86 | | | | | | 06/16/2032 | | | | | | | | | | | | | | | ||
| | | 06/16/2022(11) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 49,834 | | | | | $ | 936,879 | | | ||
| | | 02/13/2023(3) | | | | | | 15,937 | | | | | | 69,063 | | | | | $ | 10.00 | | | | | | 02/13/2033 | | | | | | | | | | | | | | | ||
| | | 02/13/2023(4) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 63,750 | | | | | $ | 1,198,500 | | | ||
Tracey Sacco, Chief Commercial Officer | | | | | 02/13/2023(12) | | | | | | — | | | | | | 225,000 | | | | | $ | 10.00 | | | | | | 02/13/2033 | | | | | | | | | | | | | | |
Plan Category | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted-average exercise price of outstanding options, warrants and rights (b) | | Number of securities available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | | | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | | Weighted- average exercise price of outstanding options, warrants and rights (b) | | Number of securities available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) | | ||||||||||||||||||||||||
Equity compensation plans approved by security holders (1) | | | | 6,660,306 | | | | $ | 19.20(2) | | | | | 2,552,962(3) | | | | | | 7,191,377 | | | | $ | 17.10(2) | | | | | 3,650,576(3) | | | ||||||
Equity compensation plans not approved by security holders (4) | | | | 1,250,000 | | | | | 8.80 | | | | | 750,000 | | | | | | 2,199,128 | | | | $ | 8.95(2) | | | | | 800,872 | | | ||||||
Total | | | | 7,910,306 | | | | | | | | | | 3,302,962 | | | | | | 9,390,505 | | | | | | | | | | 4,451,448 | | |
Year | | | Summary Compensation Table Total for PEO 1(1) | | | Summary Compensation Table Total for PEO 2(1) | | | Compensation Actually Paid to PEO 1(2) | | | Compensation Actually Paid to PEO 2(2) | | | Average Summary Compensation Table Total for Non-PEO Named Executive Officers(3) | | | Average Compensation Actually Paid to Non-PEO Named Executive Officers(4) | | | Value of Initial Fixed $100 Investment Based On: | | | Net Income(6) (in millions) | | ||||||||||||||||||||||||
| Total Shareholder Return(5) | | |||||||||||||||||||||||||||||||||||||||||||||||
(a) | | | (b1) | | | (b2) | | | (c1) | | | (c2) | | | (d) | | | (e) | | | (f) | | | (h) | | ||||||||||||||||||||||||
2023 | | | | | 4,111,853 | | | | | | N/A | | | | | | 10,538,048 | | | | | | N/A | | | | | | 2,159,711 | | | | | | 4,201,772 | | | | | $ | 75.68 | | | | | | (166) | | |
2022 | | | | | 7,076,259 | | | | | | 2,843,861 | | | | | | 7,176,759 | | | | | | 371,625 | | | | | | 2,775,071 | | | | | | 465,624 | | | | | $ | 36.43 | | | | | | (135) | | |
PEO 1 | | | | | | | | | 2022 | | | 2023 | | ||||||
Summary Compensation Table – Total Compensation | | | | | (a) | | | | | | 7,076,259 | | | | | | 4,111,853 | | |
- Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | | | | | (b) | | | | | | 6,809,500 | | | | | | 3,040,180 | | |
+ Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | | | | | (c) | | | | | | 6,910,000 | | | | | | 4,963,000 | | |
+ Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | | | | | (d) | | | | | | — | | | | | | 4,347,500 | | |
+ Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | | | | | (e) | | | | | | — | | | | | | 221,500 | | |
+ Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | | | | | (f) | | | | | | — | | | | | | (65,625) | | |
PEO 1 | | | | | | | | | 2022 | | | 2023 | | ||||||
- Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | | | | | (g) | | | | | | — | | | | | | — | | |
= Compensation Actually Paid | | | | | | | | | | | 7,176,759 | | | | | | 10,538,048 | | |
PEO 2 | | | | | | | | | 2022 | | |||
Summary Compensation Table – Total Compensation | | | | | (a) | | | | | | 2,843,861 | | |
- Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | | | | | (b) | | | | | | 2,291,650 | | |
+ Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | | | | | (c) | | | | | | 1,048,875 | | |
+ Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | | | | | (d) | | | | | | (557,600) | | |
+ Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | | | | | (e) | | | | | | 259,250 | | |
+ Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | | | | | (f) | | | | | | (931,111) | | |
- Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | | | | | (g) | | | | | | — | | |
= Compensation Actually Paid | | | | | | | | | | | 371,625 | | |
NEO Average | | | | | | | | | 2022 | | | 2023 | | ||||||
Summary Compensation Table – Total Compensation | | | | | (a) | | | | | | 2,775,071 | | | | | | 2,159,711 | | |
- Grant Date Fair Value of Stock Awards and Option Awards Granted in Fiscal Year | | | | | (b) | | | | | | 2,239,510 | | | | | | 1,512,390 | | |
+ Fair Value at Fiscal Year End of Outstanding and Unvested Stock Awards and Option Awards Granted in Fiscal Year | | | | | (c) | | | | | | 1,450,236 | | | | | | 2,538,727 | | |
+ Change in Fair Value of Outstanding and Unvested Stock Awards and Option Awards Granted in Prior Fiscal Years | | | | | (d) | | | | | | (1,118,826) | | | | | | 956,242 | | |
+ Fair Value at Vesting of Stock Awards and Option Awards Granted in Fiscal Year That Vested During Fiscal Year | | | | | (e) | | | | | | 109,216 | | | | | | 47,067 | | |
+ Change in Fair Value as of Vesting Date of Stock Awards and Option Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year | | | | | (f) | | | | | | (510,564) | | | | | | 12,415 | | |
NEO Average | | | | | | | | | 2022 | | | 2023 | | ||||||
- Fair Value as of Prior Fiscal Year End of Stock Awards and Option Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year | | | | | (g) | | | | | | — | | | | | | — | | |
= Compensation Actually Paid | | | | | | | | | | | 465,624 | | | | | | 4,201,772 | | |
Name | | | Shares of Common Stock | | | Total Purchase Price | | ||||||
Orbimed Advisors LLC | | | | | 4,500,000 | | | | | $ | 30,825,000.00 | | |
Invus Public Equities, L.P.(2) | | | | | 2,189,781 | | | | | $ | 14,999,999.85 | | |
Samsara BioCapital, L.P.(3) | | | | | 2,189,781 | | | | | $ | 14,999,999.85 | | |
Entities Affiliated with FMR LLC(4) | | | | | 865,902 | | | | | $ | 5,931,428.70 | | |
Entities Affiliated with T. Rowe Price Associates, Inc.(5) | | | | | 865,573 | | | | | $ | 5,929,175.05 | | |
Entities Affiliated with Redmile Group, LLC(6) | | | | | 729,927 | | | | | $ | 4,999,999.95 | | |
Total | | | | | 11,340,964 | | | | | $ | 77,685,603.40 | | |
Name | | | Shares of Common Stock | | | Shares of Common Stock Issuable Upon Exercise of Pre-Funded Warrants | | | Warrants | | | Total Purchase Price Paid | | ||||||||||||
Entities Affiliated with Redmile Group, LLC(1) | | | | | — | | | | | | 15,306,123 | | | | | | 3,826,530 | | | | | $ | 74,998,472.09 | | |
Invus Public Equities, L.P.(3) | | | | | 6,300,034 | | | | | | — | | | | | | 1,575,008 | | | | | $ | 30,870,166.60 | | |
Entities Affiliated with Polaris Venture Partners(4) | | | | | 1,197,992 | | | | | | — | | | | | | 299,498 | | | | | $ | 5,870,160.80 | | |
Samsara BioCapital, L.P.(5) | | | | | 4,259,217 | | | | | | — | | | | | | 1,064,804 | | | | | $ | 20,870,163.30 | | |
Entities Affiliated with T. Rowe Price Associates, Inc.(6) | | | | | 2,549,512 | | | | | | — | | | | | | 637,378 | | | | | $ | 12,492,608.80 | | |
Entities Affiliated with FMR LLC(7) | | | | | 2,019,775 | | | | | | — | | | | | | 504,943 | | | | | $ | 9,896,897.50 | | |
Total | | | | | 16,326,530 | | | | | | 15,306,123 | | | | | | 7,908,161 | | | | | $ | 154,998,469.09 | | |
Name | | | Shares of Common Stock | | | Shares of Common Stock Issuable Upon Exercise of Pre-Funded Warrants | | | Warrants | | | Total Purchase Price Paid | | ||||||||||||
Entities Affiliated with Redmile Group, LLC(1) | | | | | — | | | | | | 15,306,123 | | | | | | 3,826,530 | | | | | $ | 74,998,472.09 | | |
Invus Public Equities, L.P.(2) | | | | | 6,300,034 | | | | | | — | | | | | | 1,575,008 | | | | | $ | 30,870,166.60 | | |
Entities Affiliated with Polaris Venture Partners(3) | | | | | 1,197,992 | | | | | | — | | | | | | 299,498 | | | | | $ | 5,870,160.80 | | |
Samsara BioCapital, L.P.(4) | | | | | 4,259,217 | | | | | | — | | | | | | 1,064,804 | | | | | $ | 20,870,163.30 | | |
Entities Affiliated with T. Rowe Price Associates, Inc.(5) | | | | | 2,549,512 | | | | | | — | | | | | | 637,378 | | | | | $ | 12,492,608.80 | | |
Entities Affiliated with FMR LLC(6) | | | | | 2,019,775 | | | | | | — | | | | | | 504,943 | | | | | $ | 9,896,897.50 | | |
Total | | | | | 16,326,530 | | | | | | 15,306,123 | | | | | | 7,908,161 | | | | | $ | 154,998,469.09 | | |
| | | Shares beneficially owned | | |||||||||
Name and address of beneficial owner(1) | | | Number | | | Percentage(1) | | ||||||
5% Stockholders: | | | | | | | | | | | | | |
ARCH Venture Fund VIII, L.P.(2) | | | | | 2,637,617 | | | | | | 5.1% | | |
Invus Public Equities, L.P.(3) | | | | | 10,555,278 | | | | | | 19.7% | | |
Entities affiliated with Polaris Venture Partners(4) | | | | | 4,046,925 | | | | | | 7.7% | | |
FMR LLC(5) | | | | | 7,825,250 | | | | | | 14.9% | | |
Redmile Group, LLC(6) | | | | | 5,146,946 | | | | | | 9.4% | | |
T. Rowe Price Associates, Inc.(7) | | | | | 7,672,398 | | | | | | 14.6% | | |
Samsara BioCapital, L.P.(8) | | | | | 5,663,632 | | | | | | 10.7% | | |
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Jay Backstrom(9) | | | | | 12,500 | | | | | | * | | |
Edward H. Myles(10) | | | | | 213,852 | | | | | | * | | |
Junlin Ho(11) | | | | | 182,754 | | | | | | * | | |
Greg Carven, Ph.D.(12) | | | | | 204,414 | | | | | | * | | |
Nagesh K. Mahanthappa, Ph.D.(13) | | | | | 812,151 | | | | | | 1.6% | | |
David Hallal(14) | | | | | 459,793 | | | | | | * | | |
Srinivas Akkaraju(15) | | | | | 5,677,632 | | | | | | 10.9% | | |
Richard Brudnick(16) | | | | | 1,555 | | | | | | * | | |
Kristina Burow(17) | | | | | 2,688,891 | | | | | | 5.2% | | |
Jeffrey S. Flier, M.D.(18) | | | | | 65,102 | | | | | | * | | |
Michael Gilman, Ph.D.(19) | | | | | 90,047 | | | | | | * | | |
Amir Nashat, Sc.D.(20) | | | | | 4,105,640 | | | | | | 7.9% | | |
Joshua Reed(21) | | | | | 11,266 | | | | | | * | | |
Akshay Vaishnaw, M.D., Ph.D.(22) | | | | | 51,884 | | | | | | * | | |
All executive officers and directors as a group (14 persons)(23) | | | | | 13,613,592 | | | | | | 26.2% | | |
| | | Shares beneficially owned | | |||||||||
Name and address of beneficial owner(1) | | | Number | | | Percentage(1) | | ||||||
5% Stockholders: | | | | | | | | | | | | | |
Blackrock, Inc.(2) | | | | | 4,962,597 | | | | | | 6.2% | | |
FMR LLC(3) | | | | | 10,893,303 | | | | | | 13.6% | | |
Invus Public Equities, L.P.(4) | | | | | 12,834,446 | | | | | | 15.8% | | |
Orbimed Advisors LLC(5) | | | | | 4,245,000 | | | | | | 5.3% | | |
Entities affiliated with Redmile Group, LLC(6) | | | | | 7,706,883 | | | | | | 9.5% | | |
Samsara BioCapital, L.P.(7) | | | | | 7,853,413 | | | | | | 9.7% | | |
T. Rowe Price Associates, Inc.(8) | | | | | 8,963,835 | | | | | | 11.2% | | |
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Jay Backstrom(9) | | | | | 481,243 | | | | | | * | | |
Edward H. Myles(10) | | | | | 331,852 | | | | | | * | | |
Tracey Sacco(11) | | | | | 74,419 | | | | | | * | | |
David Hallal(12) | | | | | 501,793 | | | | | | * | | |
Srinivas Akkaraju(13) | | | | | 7,887,635 | | | | | | 9.9% | | |
Richard Brudnick(14) | | | | | 20,222 | | | | | | * | | |
Kristina Burow(15) | | | | | 2,430,324 | | | | | | 3.0% | | |
Jeffrey S. Flier, M.D.(16) | | | | | 93,102 | | | | | | * | | |
Michael Gilman, Ph.D.(17) | | | | | 132,047 | | | | | | * | | |
Amir Nashat, Sc.D.(18) | | | | | 2,652,852 | | | | | | 3.3% | | |
Katie Peng | | | | | 0 | | | | | | * | | |
Joshua Reed(19) | | | | | 43,600 | | | | | | * | | |
Akshay Vaishnaw, M.D., Ph.D.(20) | | | | | 93,884 | | | | | | * | | |
All executive officers and directors as a group (16 persons)(21) | | | | | 15,335,866 | | | | | | 19.2% | | |