Filed by the Registrant ☒ | | | Filed by a party other than the Registrant ☐ |
☐ | | | Preliminary Proxy Statement |
☐ | | | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
☒ | | | Definitive Proxy Statement |
☐ | | | Definitive Additional Materials |
☐ | | | Soliciting Material Pursuant to §240.14a-12 |
☒ | | | No fee required. | |||
☐ | | | Fee paid previously with preliminary materials. | |||
☐ | | | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
1. | To elect two class |
2. | To ratify the appointment of CohnReznick LLP as our independent registered public accounting firm for the fiscal year ending December 31, |
3. | To transact any other business properly brought before the Annual Meeting or any adjournment or postponement of the Annual Meeting. |
| | By order of our Board of Directors, | |
| | ||
| | ||
| | Chief Executive Officer |
Name | | | Positions and Offices Held with Compass | | | Director Since | | | Age |
Thomas J. Schuetz, M.D., Ph.D. | | | Director, Chief Executive Officer | | | 2015 | | | 62 |
Richard S. Lindahl, M.B.A. | | | Director | | | 2023 | | | 59 |
Name | | | Positions and Offices Held with Compass | | | Director Since | | | Age |
Ellen V. Chiniara, J.D. | | | Director | | | 2022 | | | 65 |
Mary Ann Gray, Ph.D. | | | Director | | | 2022 | | | 71 |
Name | | | Positions and Offices Held with Compass | | | Director Since | | | Class and Year in Which Term Will Expire | | | Age |
Vered Bisker-Leib, Ph.D., M.B.A. | | | Chief Executive Officer, President & Director | | | 2024 | | | Class III—2026 | | | 53 |
Thomas J. Schuetz, M.D., Ph.D. | | | Vice Chairman of the Board President of Research & Development | | | 2015 | | | Class III—2026 | | | 63 |
Richard S. Lindahl | | | Director | | | 2023 | | | Class III—2026 | | | 60 |
Philip J. Ferneau, M.B.A, J.D. | | | Director | | | 2015 | | | Class II—2025 | | | 62 |
James P. Boylan, M.B.A. | | | Director | | | 2022 | | | Class II—2025 | | | 57 |
Carl L. Gordon, Ph.D., C.F.A. | | | Chairman of the Board | | | 2015 | | | Class II—2025 | | | 59 |
Name | | | Positions and Offices Held with Compass | | | Director Since | | | Class and Year in Which Term Will Expire | | | Age |
Ellen Chiniara, J.D. | | | Director | | | 2022 | | | Class I—2024 | | | 64 |
Mary Ann Gray, Ph.D. | | | Director | | | 2022 | | | Class I—2024 | | | 70 |
Philip J. Ferneau, M.B.A, J.D. | | | Director | | | 2015 | | | Class II—2025 | | | 61 |
Carl L. Gordon, Ph.D., C.F.A. | | | Chairman of the Board | | | 2015 | | | Class II—2025 | | | 58 |
James P. Boylan, M.B.A. | | | Director | | | 2022 | | | Class II—2025 | | | 56 |
Name | | | Position Held with Compass | | | Officer Since | | | Age |
Vered Bisker-Leib, Ph.D., M.B.A. | | | President and Chief Operating Officer | | | 2017 | | | 52 |
Audit Committee | | | Nominating and Corporate Governance Committee | | | Compensation Committee |
Richard S. Lindahl* | | | Phillip Ferneau* | | | Carl L. Gordon* |
| | Ellen V. Chiniara | | | Philip Ferneau | |
Ellen V. Chiniara | | | | | Ellen V. Chiniara |
* | Denotes committee chair |
| Board Diversity Matrix as of April 18, 2023 | | Board Diversity Matrix as of April 29, 2024 | | ||||||||||||||||||||||||
| Total Number of Directors | | | | Total Number of Directors | | | | ||||||||||||||||||||
| | | Female | | | Male | | | Non- Binary | | | Did Not Disclose Gender | | | | Female | | | Male | | | Non- Binary | | | Did Not Disclose Gender | | ||
| Part I: Gender Identity | | Part I: Gender Identity | | ||||||||||||||||||||||||
| Directors | | | 2 | | | 5 | | | | | | Directors | | | 3 | | | 5 | | | | | | ||||
| Part II: Demographic Background | | Part II: Demographic Background | | ||||||||||||||||||||||||
| African American or Black | | | | | | | | | | African American or Black | | | | | | | | | | ||||||||
| Alaskan Native or Native American | | | | | | | | | | Alaskan Native or Native American | | | | | | | | | | ||||||||
| Asian | | | | | | | | | | Asian | | | | | | | | | | ||||||||
| Hispanic or Latinx | | | | | | | | | | Hispanic or Latinx | | | | | | | | | | ||||||||
| Native Hawaiian or Pacific Islander | | | | | | | | | | Native Hawaiian or Pacific Islander | | | | | | | | | | ||||||||
| White | | | 2 | | | 5 | | | | | | White | | | 3 | | | 5 | | | | | | ||||
| Two or More Races or Ethnicities | | | | | | | | | | Two or More Races or Ethnicities | | | | | | | | | | ||||||||
| LGBTQ+ | | | | | | | | | | LGBTQ+ | | | | | | | | | | ||||||||
| Did Not Disclose Demographic Background | | | | | | | | | | Did Not Disclose Demographic Background | | | | | | | | | |
Annual Director Retainer | | | $45,000 |
Committee Membership | | | $5,000 per committee |
Chairperson of the Board | | | $15,000 |
Chairperson of the Audit Committee | | | $10,000 |
Name | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($)(2) | | Total ($) | | Fees Earned or Paid in Cash ($) | | Stock Awards ($)(1) | | Option Awards ($)(2) | | Total ($) | ||||||||
Mary Ann Gray | | 33,750 | | — | | 52,327 | | 86,077 | | 45,000 | | — | | 118,419 | | 163,419 | ||||||||
Ellen Chiniara | | 33,750 | | — | | 52,327 | | 86,077 | | 45,000 | | — | | 118,419 | | 163,419 | ||||||||
Carl L. Gordon | | 45,000(4) | | — | | 55,091 | | 100,091 | | 45,000(5) | | — | | 177,628 | | 222,628 | ||||||||
Philip J. Ferneau | | 45,000(4) | | — | | 55,091 | | 100,091 | | 45,000(5) | | — | | 148,024 | | 193,024 | ||||||||
James P. Boylan | | 11,250(4) | | — | | — | | 11,250 | | 45,000(5) | | — | | — | | 45,000 | ||||||||
Brett Kaplan(5) | | — | | — | | — | | — | ||||||||||||||||
Miranda Toledano(5) | | 11,250 | | — | | — | | 11,250 | ||||||||||||||||
Stephen Squinto(5) | | 22,500 | | — | | 55,091 | | 77,591 | ||||||||||||||||
Richard Lindahl(3) | | 41,250 | | — | | 106,666 | | 147,916 | ||||||||||||||||
David Wurzer(4) | | — | | — | | — | | — |
(1) | No stock awards were issued in |
(2) | The amount represents the fair value of the option awards as of the grant date as computed in accordance with FASB ASC Topic 718, not including any estimates of forfeitures. The assumptions used in calculating the grant date fair value of the awards are set forth in Note 9 to our financial statements for the year ended December 31, |
Non-Employee Director | | | Number of Unexercised Options Held as of December 31, |
Mary Ann Gray | | | |
Ellen V. Chiniara | | | |
Carl L. Gordon | | | |
Philip J. Ferneau | | | |
James P. Boylan | | | — |
| | ||
(3) |
(4) | Mr. Wurzer was appointed and resigned as director in February 2023 |
(5) | Cash payable to the directors were made to the funds which they represent |
Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards ($)(1) | | Option Awards ($)(2) | | All Other Compensation ($) | | Total ($) | | Year | | Salary ($) | | Bonus ($) | | Stock A wards ($)(1) | | Option Awards ($)(1) | | All Other Compensation ($) | | Total ($) | ||||||||||||||
Thomas J. Schuetz, M.D., Ph.D. Chief Executive Officer | | | 2022 | | 550,000 | | 275,000 | | — | | 1,285,628 | | 4,557(3) | | 2,110,628 | |||||||||||||||||||||||||||
| 2021 | | 4,000 | | 450,000 | | 2,298,000 | | 2,506,000 | | — | | 5,258,000 | |||||||||||||||||||||||||||||
Vered Bisker-Leib, Ph.D., MBA President and Chief Operating Officer | | | 2022 | | 475,000 | | 320,000 | | — | | 918,306 | | 11,433(3) | | 1,713,306 | |||||||||||||||||||||||||||
| 2021 | | 400,000 | | 320,000 | | 2,298,000 | | 1,432,000 | | 16,000(3) | | 4,450,000 | |||||||||||||||||||||||||||||
Susan Kalled, Ph.D.(2) Chief Scientific Officer | | | 2022 | | 297,500 | | — | | — | | 110,197 | | 54,333(4) | | 462,030 | |||||||||||||||||||||||||||
| 2021 | | 220,000 | | 115,500 | | — | | 1,446,116 | | — | | 1,781,616 | |||||||||||||||||||||||||||||
Vered Bisker-Leib, Ph.D., MBA Chief Executive Officer (formerly President and COO) | | | 2023 | | 500,000 | | 202,500 | | 1,572,000 | | 1,776,284 | | 16,500(2) | | 4,067,284 | |||||||||||||||||||||||||||
| 2022 | | 475,000 | | 320,000 | | — | | 918,306 | | 11,433(2) | | 1,724,739 | |||||||||||||||||||||||||||||
Thomas J. Schuetz, M.D., Ph.D. President of Research & Development (formerly CEO) | | | 2023 | | 575,000 | | 244,375 | | 1,965,000 | | 2,072,331 | | 16,500(2) | | 4,873,206 | |||||||||||||||||||||||||||
| 2022 | | 550,000 | | 275,000 | | — | | 1,285,628 | | 4,557(2) | | 2,115,185 |
(1) | Stock awards represent the fair value of |
(2) |
Other compensation consists |
| | | Stock Awards | | Option Awards | | | | Option Awards | | Stock Awards | |||||||||||||||||||||||||||||||
Name and Principal Position | | Vesting Commencement Date | | Number of Securities That Have Not Vested (#) | | Market Value of Securities That Have Not Vested ($)(1) | | Number of Securities Underlying Unexercised Options Exercisable (#) | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | Option Exercise Price | | Option Expiration Date | | Vesting Commencement Date | | Number of Securities Underlying Unexercised Options Exercisable (#) | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | Option Exercise Price | | Option Expiration Date | | Number of Securities That Have Not Vested (#)(1) | | Market Value of Securities That Have Not Vested ($)(1) | ||||||||||||||
Thomas J. Schuetz, M.D., Ph.D. Chief Executive Officer | | | 7/3/2019(3) | | 44,700 | | 141,699 | | — | | — | | — | | — | |||||||||||||||||||||||||||
| 12/20/2019(2) | | 79,449 | | 251,853 | | — | | — | | — | | — | |||||||||||||||||||||||||||||
| 8/6/2020(4) | | — | | — | | 500,000 | | — | | $5.00 | | 8/6/2030 | |||||||||||||||||||||||||||||
| 12/22/2020(4) | | — | | — | | 244,807 | | 5,193 | | $5.00 | | 12/22/2030 | |||||||||||||||||||||||||||||
| 2/9/2021(2) | | — | | — | | 306,256 | | 393,744 | | $5.00 | | 2/9/2031 | |||||||||||||||||||||||||||||
| 11/16/2021(6) | | 450,000 | | 2,263,500 | | — | | — | | — | | — | |||||||||||||||||||||||||||||
| 2/18/2022 (3) | | — | | — | | 131,256 | | 568,744 | | td.40 | | 2/18/2031 | |||||||||||||||||||||||||||||
Vered Bisker-Leib, Ph.D., MBA President and Chief Operating Officer | | | 7/3/2019(3) | | 21,551 | | 108,402 | | — | | — | | — | | — | |||||||||||||||||||||||||||
| 12/20/2019(2) | | 52,967 | | 266,424 | | — | | — | | — | | — | |||||||||||||||||||||||||||||
| 8/6/2020(5) | | — | | — | | 600,000 | | — | | $5.00 | | 8/6/2030 | |||||||||||||||||||||||||||||
| 2/9/2021(2) | | — | | — | | 175,006 | | 224,994 | | $5.00 | | 2/9/2031 | |||||||||||||||||||||||||||||
| 11/16/2021(6) | | 450,000 | | 2,263,500 | | — | | — | | — | | — | |||||||||||||||||||||||||||||
| 2/18/2022 (3) | | — | | — | | 93,753 | | 406,247 | | td.40 | | 2/18/2031 | |||||||||||||||||||||||||||||
Susan Kalled, Ph.D.(7) Chief Scientific Officer | | | 5/3/2021(2) | | — | | — | | 97,502 | | — | | $7.00 | | 2/28/2022 | |||||||||||||||||||||||||||
| 2/18/2022 (3) | | — | | — | | 11,250 | | — | | td.40 | | 2/28/2022 | |||||||||||||||||||||||||||||
Vered Bisker-Leib, Ph.D., MBA Chief Executive Officer (formerly President and COO) | | | 8/6/2020(5) | | 600,000 | | — | | $5.00 | | 8/6/2030 | | — | | — | |||||||||||||||||||||||||||
| 2/9/2021(2) | | 283,348 | | 116,652 | | $5.00 | | 2/9/2031 | | — | | — | |||||||||||||||||||||||||||||
| 11/16/2021 | | — | | — | | — | | — | | 300,000 | | 468,000 | |||||||||||||||||||||||||||||
| 2/18/2022(3) | | 229,174 | | 270,826 | | td.40 | | 2/18/2032 | | — | | — | |||||||||||||||||||||||||||||
| 2/8/2023(3) | | 125,000 | | 475,000 | | $3.93 | | 2/8/2033 | | 400,000 | | 624,000 | |||||||||||||||||||||||||||||
Thomas J. Schuetz, M.D., Ph.D. President of Research & Development (formerly CEO) | | | 8/6/2020(4) | | 500,000 | | — | | $5.00 | | 8/6/2030 | | — | | — | |||||||||||||||||||||||||||
| 12/22/2020(4) | | 250,000 | | — | | $5.00 | | 12/22/2030 | | — | | — | |||||||||||||||||||||||||||||
| 2/9/2021(2) | | 495,848 | | 204,152 | | $5.00 | | 2/9/2031 | | — | | — | |||||||||||||||||||||||||||||
| 11/16/2021 | | — | | — | | — | | — | | 300,000 | | 468,000 | |||||||||||||||||||||||||||||
| 2/18/2022(3) | | 320,848 | | 379,152 | | td.40 | | 2/18/2032 | | — | | — | |||||||||||||||||||||||||||||
| 2/8/2023(3) | | 145,840 | | 554,160 | | $3.93 | | 2/8/2033 | | 500,000 | | 780,000 |
(1) | The market value was determined using fair market value of |
(2) |
(3) |
(4) |
(5) |
Plan category | | Number of securities to be issued upon exercise of outstanding Options, Warrants, and Rights(1) | | Weighted-average exercise price of outstanding options(2) | | Number of securities remaining available for future issuance under equity compensation plans(3) | | Number of securities to be issued upon exercise of outstanding Options, Warrants, and Rights(1) | | Weighted-average exercise price of outstanding options(2) | | Number of securities remaining available for future issuance under equity compensation plans(3) | ||||||
Equity compensation plans approved by security holders | | 6,277,731 | | $3.89 | | 2,483,966 | | 9,375,979 | | $3.81 | | 5,125,048 | ||||||
Equity compensation plans not approved by security holders | | — | | — | | — | | — | | — | | — | ||||||
Total | | 6,277,731 | | $3.89 | | 2,483,966 | | 9,375,979 | | $3.81 | | 5,125,048 |
(1) | Consists of the 2020 Plan and includes |
(2) | The weighted-average exercise price information does not include any outstanding restricted stock unit |
(3) | The 2020 Plan has an evergreen provision whereby the number of shares of common stock reserved and available for issuance under the 2020 Plan is subject to an automatic annual increase on each January 1, beginning in 2021, by an amount equal to four percent of the number of shares of common stock issued and outstanding on the immediately preceding December 31 or such lesser number of shares of common stock as determined by the Administrator (as defined in the 2020 Plan). Accordingly, on January 1, |
| | Shares Beneficially Owned | ||||
Name and address of beneficial owner | | | Number | | | Percentage |
5% Stockholders: | | | | | ||
OrbiMed(1) | | | 22,362,850 | | | 17.7% |
Enavate(2) | | | 7,788,150 | | | 6.2% |
FMR(3) | | | 6,354,814 | | | 5.0% |
| | | | |||
Named Executive Officers and Directors: | | | | | ||
Thomas J. Schuetz, MD, Ph.D.(4) | | | 6,443,784 | | | 5.0% |
Vered Bisker-Leib, Ph.D., MBA(5) | | | 1,634,928 | | | 1.3% |
Susan Kalled, Ph.D. | | | 11,250 | | | * |
Phil Ferneau, MBA, J.D.(6) | | | 412,781 | | | * |
Carl L. Gordon, Ph.D., CFA(1) | | | 22,375,975 | | | 17.7% |
Mary Ann Gray(7) | | | 14,696 | | | * |
Ellen Chiniara(7) | | | 14,696 | | | * |
James P. Boylan(2) | | | 7,788,150 | | | 6.2% |
Richard S. Lindahl(8) | | | 1,042 | | | * |
All current directors and executive officers as a group (8 persons)(9) | | | 38,697,302 | | | 30.0% |
| | Shares Beneficially Owned | ||||
Name and address of beneficial owner | | | Number | | | Percentage |
5% Stockholders: | | | | | ||
OrbiMed(1) | | | 22,362,850 | | | 16.3% |
Adage(2) | | | 9,880,000 | | | 7.2% |
Enavate(3) | | | 7,788,150 | | | 5.7% |
Janus Henderson(4) | | | 7,647,740 | | | 5.6% |
| | | | |||
Named Executive Officers and Directors: | | | | | ||
Vered Bisker-Leib, Ph.D., MBA(5) | | | 2,311,170 | | | 1.7% |
Thomas J. Schuetz, MD, Ph.D.(6) | | | 7,242,486 | | | 5.2% |
Phil Ferneau, MBA, J.D.(7) | | | 435,287 | | | * |
Carl L. Gordon, Ph.D., CFA(1) | | | 22,400,977 | | | 16.3% |
Mary Ann Gray(8) | | | 38,462 | | | * |
Ellen Chiniara(8) | | | 38,462 | | | * |
James P. Boylan(3) | | | 7,789,818 | | | 7.2% |
Richard S. Lindahl(9) | | | 16,048 | | | * |
All current directors and executive officers as a group (8 persons)(10) | | | 40,272,710 | | | 28.5% |
* | Represents beneficial ownership of less than one |
(1) | Based |
(2) | Based |
(3) | Based on information contained in the Schedule 13D filed with the SEC on November 14, 2022, reporting beneficial ownership of Commander Aggregator, LP has sole voting and dispositive power of 7,788,150 shares of common stock. James P. Boylan includes options to purchase 1,668 shares of common stock that are exercisable within 60 days of March 31, 2024. The address for Commander Aggregator, LP is 1209 Orange Street, Wilmington, New Castle, Delaware |
(4) | Based on information contained in the Schedule 13G filed with the SEC on February 1, 2024, reporting beneficial ownership of Janus Henderson Group plc has shared voting and dispositive power of 7,647,740 shares of common stock. The address for Janus Henderson Group plc is 201 Bishopsgate EC2M 3AE, United Kingdom. |
(5) | Consists of (i) |
Consists of (i) |
Consists of |
Consists of options to purchase |
Consists of options to purchase |
Consists of (i) |
| | 2022 | | | 2021 | |
Audit fees(1) | | | $305,970 | | | $340,586 |
Audit-related fees(2) | | | — | | | — |
Tax fees(3) | | | 21,800 | | | — |
All other fees(4) | | | — | | | — |
Total fees | | | $327,770 | | | $340,586 |
| | 2023 | | | 2022 | |
Audit fees(1) | | | $302,400 | | | $305,970 |
Tax fees | | | 24,840 | | | 21,800 |
Total fees | | | $327,240 | | | $327,770 |
(1) | Represents fees for services rendered for |
| | THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF COMPASS THERAPEUTICS, INC. | |
| | ||
| | Richard Lindahl, Chair | |
| | ||
| | Ellen Chiniara |