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Name
|
| |
Positions and Offices
Held with Rubius |
| |
Director Since
|
| |
Age
|
| ||||||
David R. Epstein
|
| | Director(1) | | | | | 2017 | | | | | | 60 | | |
Natalie Holles
|
| | Director(2)(3) | | | | | 2019 | | | | | | 49 | | |
Anne Prener, M.D., Ph.D.
|
| | Director(1)(3) | | | | | 2019 | | | | | | 64 | | |
Name
|
| |
Positions and Offices
Held with Rubius |
| |
Director
Since |
| |
Class and Year
in Which Term Will Expire |
| |
Age
|
| ||||||
Noubar B. Afeyan, Ph.D.
|
| | Director(3)(4) | | | | | 2013 | | | |
Class II – 2023
|
| | | | 59 | | |
Michael Rosenblatt, M.D.
|
| | Director(2)(4) | | | | | 2014 | | | |
Class II – 2023
|
| | | | 74 | | |
Catherine A. Sohn, Pharm.D.
|
| | Director(1)(3) | | | | | 2018 | | | |
Class II – 2023
|
| | | | 69 | | |
Pablo J. Cagnoni, M.D.
|
| | Director, President and Chief Executive Officer | | | | | 2018 | | | |
Class III – 2024
|
| | | | 59 | | |
Francis Cuss, M.B., B. Chir., FRCP
|
| | Director(3)(4) | | | | | 2018 | | | |
Class III – 2024
|
| | | | 67 | | |
Sir Jonathan R. Symonds, CBE
|
| | Director(1) | | | | | 2018 | | | |
Class III – 2024
|
| | | | 63 | | |
Name
|
| |
Position Held with Rubius
|
| |
Officer Since
|
| |
Age
|
| ||||||
Jose Carmona
|
| | Chief Financial Officer | | | | | 2020 | | | | | | 50 | | |
Dannielle Appelhans
|
| | Chief Operating Officer | | | | | 2021 | | | | | | 39 | | |
Maiken Keson-Brookes
|
| |
Chief Legal Officer and Corporate Secretary
|
| | | | 2019 | | | | | | 49 | | |
Laurence Turka, M.D.
|
| | Chief Scientific Officer and Head of Research and Translational Medicine | | | | | 2020 | | | | | | 64 | | |
| | | | | | |
2021
|
| |
2020
|
| ||||||
| | | |
Audit fees(1)
|
| | | $ | 1,027,500 | | | | | $ | 582,500 | | |
| | | |
Audit-related fees
|
| | | | — | | | | | | — | | |
| | | |
Tax fees
|
| | | | — | | | | | | — | | |
| | | |
All other fees(2)
|
| | | | 3,656 | | | | | | 2,700 | | |
| | | |
Total fees
|
| | | $ | 1,031,156 | | | | | $ | 585,200 | | |
| | | |
Director
|
| |
David R.
Epstein |
| |
Noubar B.
Afeyan, Ph.D. |
| |
Pablo J.
Cagnoni, M.D. |
| |
Francis
Cuss, M.B., B.Chir., FRCP |
| |
Natalie
Holles |
| |
Anne
Prener, M.D., Ph.D. |
| |
Michael
Rosenblatt, M.D. |
| |
Catherine
A. Sohn, Pharm. D. |
| |
Sir Jonathan
Symonds, CBE |
| |||||||||||||||||||||||||||
| | | | Gender | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Male
|
| | | | • | | | | | | • | | | | | | • | | | | | | • | | | | | | | | | | | | | | | | | | • | | | | | | | | | | | | • | | |
| | | |
Female
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | • | | | | | | • | | | | | | | | | | | | • | | | | | | | | |
| | | |
Non-Binary
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | Demographic | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
African American
or Black |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Alaskan Native or
Native American |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Asian
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Hispanic or Latinx
|
| | | | | | | | | | | | | | | | • | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Native Hawaiian or
Pacific Islander |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
White
|
| | | | • | | | | | | • | | | | | | | | | | | | • | | | | | | • | | | | | | • | | | | | | • | | | | | | • | | | | | | • | | |
| | | |
Middle Eastern
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
North African
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Two or More Races
or Ethnicities |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Supplemental Demographic
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Military Veteran
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
LGBTQ+
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Person with
Disability |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Name
|
| |
Fees Earned
In Cash ($)(1) |
| |
Option Awards
($)(2)(3)(4)(5) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| ||||||||||||
| | | |
Noubar B. Afeyan, Ph.D.
|
| | | | 44,744 | | | | | | 374,648 | | | | | | — | | | | | | 419,392 | | |
| | | |
Francis Cuss, M.B., B.Chir., FRCP
|
| | | | 52,014 | | | | | | 374,648 | | | | | | — | | | | | | 426,662 | | |
| | | |
David R. Epstein
|
| | | | 495,000 | | | | | | 404,994 | | | | | | — | | | | | | 899,994 | | |
| | | |
Natalie Holles
|
| | | | 50,514 | | | | | | 374,648 | | | | | | — | | | | | | 425,162 | | |
| | | |
Anne Prener, M.D., Ph.D.
|
| | | | 43,014 | | | | | | 374,648 | | | | | | — | | | | | | 417,662 | | |
| | | |
Michael Rosenblatt, M.D.
|
| | | | 47,014 | | | | | | 374,648 | | | | | | — | | | | | | 421,662 | | |
| | | |
Catherine A. Sohn, Pharm.D.
|
| | | | 55,741 | | | | | | 374,648 | | | | | | — | | | | | | 430,389 | | |
| | | |
Sir Jonathan R. Symonds, CBE
|
| | | | 54,014 | | | | | | 374,648 | | | | | | — | | | | | | 428,662 | | |
| | | |
Director
|
| |
Number of Shares
Underlying Stock Options |
| |||
| | | |
Noubar B. Afeyan, Ph.D.
|
| | | | 100,000 | | |
| | | |
Francis Cuss, M.B., B.Chir., FRCP
|
| | | | 230,000 | | |
| | | |
David R. Epstein
|
| | | | 2,301,053 | | |
| | | |
Natalie Holles
|
| | | | 100,000 | | |
| | | |
Anne Prener, M.D., Ph.D.
|
| | | | 75,000 | | |
| | | |
Michael Rosenblatt, M.D.
|
| | | | 250,000 | | |
| | | |
Catherine A. Sohn, Pharm.D.
|
| | | | 230,000 | | |
| | | |
Sir Jonathan R. Symonds, CBE
|
| | | | 270,000 | | |
| | | | | | |
Annual
Retainer(1) |
| |||
| | | | Board of Directors: | | | | | | | |
| | | |
All non-employee members, except Chairman
|
| | | $ | 40,000 | | |
| | | | Audit Committee: | | | | | | | |
| | | |
Members
|
| | | $ | 7,500 | | |
| | | |
Chair
|
| | | $ | 15,000 | | |
| | | | Compensation and Talent Committee: | | | | | | | |
| | | |
Members
|
| | | $ | 5,000 | | |
| | | |
Chair
|
| | | $ | 10,000 | | |
| | | | Nominating and Corporate Governance Committee: | | | | | | | |
| | | |
Members
|
| | | $ | 4,000 | | |
| | | |
Chair
|
| | | $ | 8,000 | | |
| | | | Science and Technology Committee: | | | | | | | |
| | | |
Members
|
| | | $ | — | | |
| | | |
Chair
|
| | | $ | 8,000 | | |
| | | |
TABLE OF CONTENTS
|
| ||||||
| | | | | | | | 28 | | | |
| | | | Key Features of our Executive Compensation Program | | | | | 30 | | |
| | | | Compensation Philosophy and Objectives | | | | | 31 | | |
| | | | Key Components and Design of the Executive Compensation Program | | | | | 36 | | |
| | | | 2021 Compensation Decisions for our NEOs | | | | | 43 | | |
| | | | | | | | 46 | | |
| | | |
Clinical Development
|
| |
•
Presented initial clinical data from the single agent solid tumor arm of our ongoing Phase 1/2 clinical trial of RTX-240
•
Shared preliminary trafficking data from the first acute myeloid leukemia, or AML, patient in the AML arm of our RTX-240 clinical trial
•
Began dosing patients in the arm of our RTX-240 clinical trial that is evaluating RTX-240 as a combination therapy with pembrolizumab for the treatment of patients with relapsed/refractory or locally advanced solid tumors
•
Initiated a Phase 1 clinical trial of RTX-321 for the treatment of advanced HPV 16-positive cancers
•
Received clearance of an Investigational New Drug, or IND, application for RTX-224
|
|
| | | |
Financial
|
| |
•
Completed a $200 million follow-on equity financing
•
Renegotiated our $75 million debt facility to extend the interest only and repayment periods by two and a half years
|
|
| | | |
Research & Development
|
| |
•
Shared preclinical proof of concept data, demonstrating tolerance induction and the potential for bystander suppression in two stringent type 1 diabetes preclinical models
|
|
| | | |
Manufacturing
|
| |
•
Increased cells produced per batch in 50L bioreactors by four times that of 2020, enabling uninterrupted clinical supply for three Phase 1 arms of the RTX-240 clinical trial and for the Phase 1 RTX-321 trial
•
Introduced frozen drug substance for RTX-321 and RTX-224, potentially enabling inventory storage for more than two years
•
Achieved greater than 90% lot success rate for RTX-240 and RTX-321 clinical supply
•
Administered hundreds of doses across all three arms of our RTX-240 Phase 1/2 trial and our RTX-321 Phase 1 trial
•
Achieved high transduction efficiency, with greater than 90% of cells transduced with therapeutic proteins
|
|
| | | |
What We Do
|
| |
What We Don’t Do
|
|
| | | | Design executive compensation to align pay with performance | | | No excessive change in control or severance payments | |
| | | | Balance short-term and long-term incentive compensation, with the majority of executive compensation being “at-risk” | | | No “single-trigger” cash or equity change in control benefits | |
| | | | Align annual performance bonus plan for CEO with that of other executives and employees, with 100% of CEO’s bonus based on corporate performance goals approved by the board of directors | | | No health and welfare or retirement benefits that are not available to employees generally | |
| | | | Provide only “double-trigger” change in control benefits | | | No post-termination retirement or defined benefit pension benefits | |
| | | | Prohibit hedging and pledging by executive officers and directors | | | No guaranteed bonuses or base salary increases | |
| | | | Maintain 100% independent directors on the compensation committee | | | No repricing of underwater stock options without prior stockholder approval | |
| | | | Engage an independent compensation consultant who reports directly to the compensation committee | | | No excessive perquisites | |
| | | | Hold regular compensation committee meetings in executive session without management present | | | No tax gross ups on severance or change in control benefits | |
| | | | Effective January 2022, maintain a clawback policy applicable to performance-based executive cash and equity compensation | | | | |
| | | | Require our executives to plan any stock trading in advance through the use of 10b5-1 plans | | | | |
| Alector, Inc. | | | Editas Medicine, Inc. | | | TCR2 Therapeutics Inc. | |
| Allogene Therapeutics, Inc. | | | Homology Medicines, Inc. | | | Translate Bio, Inc. | |
| AnaptysBio, Inc. | | | Intellia Therapeutics, Inc. | | | Voyager Therapeutics, Inc. | |
| AVROBIO, Inc. | | | Precision BioSciences, Inc. | | | Wave Life Sciences Ltd. | |
| Denali Therapeutics Inc. | | | REGENXBIO Inc. | | | Xencor, Inc. | |
| Dicerna Pharmaceuticals, Inc. | | | Sangamo Therapeutics, Inc. | | | | |
| Alector, Inc. | | | Allogene Therapeutics, Inc. | | | AnaptysBio, Inc. | |
| Atara Biotherapeutics, Inc.* | | | Denali Therapeutics Inc. | | | Dicerna Pharmaceuticals, Inc. | |
| Editas Medicine, Inc. | | | Fate Therapeutics, Inc.* | | | IGM Biosciences, Inc.* | |
| Intellia Therapeutics, Inc. | | | Iovance Biotherapeutics, Inc.* | | | Precision BioSciences, Inc. | |
| REGENXBIO Inc. | | | Relay Therapeutics, Inc.* | | | Rocket Pharmaceuticals, Inc.* | |
| Sana Biotechnology, Inc.* | | | Sangamo Therapeutics, Inc. | | | TCR2 Therapeutics Inc. | |
| Xencor, Inc. | | | | | | | |
| |
Component
|
| |
Key Features
|
| |
Objectives
|
| |
Link to Performance
and Stockholder Value |
| |||
| |
Short-Term Cash Compensation
|
| |
Base Salary
|
| |
•
Fixed level of cash compensation
•
No amount is contractually guaranteed
|
| |
Establishes a market competitive and internally appropriate level of fixed cash compensation to provide financial stability and to attract and retain top talent
|
| |
Fixed cash compensation rewards scope of responsibility, experience and individual performance
|
|
|
Performance
Bonus Award |
| |
•
Cash compensation under the performance bonus plan
•
“At-risk” because it is dependent upon achievement of pre- established corporate performance goals and, for executive officers other than our CEO, personal performance objectives
|
| | Serves as a key compensation vehicle for rewarding annual results, based on performance goals set at the beginning of each year | | | Promotes strong short-term business and clinical results by rewarding value drivers, without creating an incentive to take excessive risk | | ||||
| |
Long-Term Equity Incentives
|
| |
Stock Options (~75% in LTI mix)
|
| |
•
“At-risk” long-term incentives that realize value through sustained long-term appreciation of our share price
•
Stock options and RSUs generally vest over a 4-year period subject to executive officer’s continued service with us; stock option exercise prices are equal to the fair market value of our shares on date of grant (i.e., closing price on the Nasdaq Global Select Market)
|
| |
Stock options provide value directly from stock price appreciation and the NEOs do not realize any value from stock options unless our stock price increases over time; strong alignment with stockholder value creation
|
| |
Annual grant level is set based on market assessment and individual performance, while the ultimate vesting value is based on stock price appreciation over time, which links to stockholder value
|
|
|
RSUs (~25% in LTI mix)
|
| | RSUs provide retention value at grant and further alignment with stockholder value creation as the value of RSUs increases as our stock price increases | | | | |
Name
|
| |
2020 Base Salary
|
| |
2021 Base Salary
|
| |
Change (%)
|
| |||||||||
Pablo J. Cagnoni, M.D.
|
| | | $ | 585,000 | | | | | $ | 600,000 | | | | | | 2.6% | | |
Jose Carmona
|
| | | $ | 450,000 | | | | | $ | 450,000 | | | | | | — | | |
Dannielle Appelhans
|
| | | | — | | | | | $ | 450,000 | | | | | | — | | |
Maiken Keson-Brookes
|
| | | $ | 400,000 | | | | | $ | 416,000 | | | | | | 4.0% | | |
Laurence Turka, M.D.
|
| | | $ | 400,000 | | | | | $ | 425,026(1) | | | | | | 6.3% | | |
| | | | | | | | | |
Measurement Criteria
|
| | | | |||
| | | |
Corporate
Objective |
| |
Weighting
|
| |
100% Achievement
|
| |
Actual Achievement
|
| |
Bonus
Pool Funding |
|
| | | | Deliver clinical data | | |
45%
|
| |
•
Achieve either recommended Phase 2 dose (RP2D) in solid tumor monotherapy arm of RTX-240 clinical trial or achieve RP2D in AML arm of RTX-240 clinical trial (data dependent)
•
Complete Type-C meeting with FDA and determine path forward for PD-1 combination arm of RTX-240 clinical trial
•
Submit for FDA approval, and receive clearance of, IND for RTX-224
•
Achieve RP2D for RTX-321 monotherapy trial
|
| |
•
RP2D goals for solid tumor and AML arms of RTX-240 clinical trial partially achieved (due to addition of higher dose cohort)
•
Completed Type-C meeting with FDA and determined path forward for PD-1 combination arm of RTX-240 clinical trial
•
Received clearance of IND for RTX-224 from the FDA
•
Achieved the following stretch goals:
•
Initiated PD-1 combination arm of RTX-240 clinical trial
•
Initiated clinical trial for RTX-224
|
| |
40%
|
|
| | | |
Achieve development and operational
goals |
| |
25%
|
| |
•
Develop, transfer and prepare 200L IND-A for chosen asset to enable 2022 supply
•
Deliver average productivity output target for RTX-240 and RTX-321
•
Deliver average productivity target in final pilot plant transferred process (200L scale)
•
Reduce drug product disposition average turnaround time
•
Achieve Quality Health Index equal to or greater than 70%
|
| |
•
Fully achieved IND-A goal
•
Fully achieved all manufacturing process development, optimization, productivity and quality objectives
•
Achieved the following stretch goals:
•
Met stretch RCT productivity target
•
Applied new analytical methods to process development approach
•
Met stretch quality index target
|
| |
40%
|
|
| | | |
Build our
pipeline |
| |
15%
|
| |
•
Execute preclinical goal for T1D program
•
Execute preclinical goal for next aAPC program
•
Establish a mouse or non-human primate model
|
| |
•
Preclinical goals for autoimmune and aAPC programs mostly achieved
•
Established non-human primate model
•
Partially achieved stretch goal pertaining to plan development and initiation of preclinical studies for next RTX program
•
Fully achieved stretch goal pertaining to the evaluation of the scientific validity and technical feasibility of loadable human leukocyte antigen (HLA)
|
| |
20%
|
|
| | | | | | | | | |
Measurement Criteria
|
| | | | |||
| | | |
Corporate
Objective |
| |
Weighting
|
| |
100% Achievement
|
| |
Actual Achievement
|
| |
Bonus
Pool Funding |
|
| | | |
Maintain financial stability and achievement of additional financial and organizational goals
|
| |
15%
|
| |
•
Maintain sufficient funds to execute on 2022 business plan
•
Execute on business development objectives
|
| |
•
Fully achieved funds objective
•
Successfully completed an equity financing
•
Substantially completed, on schedule, Quality Control expansion design, build and commission
•
For the second year in a row, Rubius named among the “Top Places to Work” by the Boston Globe and one of the top three “Best Places to Work” by the Providence Business News
•
Made five scientific presentations and hosted Virtual Preclinical and Platform Day
|
| |
10%
|
|
| | | | Total | | | | | | | | | | | |
110%
|
|
Name
|
| |
2021
Individual Performance Factor |
| |
2021 Individual Achievements
|
| |||
Jose Carmona
|
| | | | 115% | | | | Achievement of goals further building financial stability. | |
Dannielle Appelhans
|
| | | | 100% | | | |
Joined in August 2021; executed on numerous goals related to
development and operations. |
|
Maiken Keson-Brookes
|
| | | | 115% | | | |
Achievement of corporate governance, IP and disclosure
related goals. |
|
Laurence Turka, M.D.
|
| | | | 115% | | | | Executed on development strategy across the platform. | |
Name and Principal Position
|
| |
Base Salary
($) |
| |
Target
Bonus (%) |
| |
Target
Bonus ($) |
| |
Target
Bonus – Corporate Component ($)(1) |
| |
Actual
Bonus – Corporate Multiplier (%) |
| |
Target
Bonus – Individual Component ($)(1) |
| |
Actual
Bonus – Individual Multiplier (%) |
| |
Actual Payout
($) |
| ||||||||||||||||||||||||
Pablo J. Cagnoni, M.D.
President and Chief Executive Officer
|
| | | $ | 600,000 | | | | | | 55% | | | | | $ | 330,000 | | | | | $ | 330,000 | | | | | | 110% | | | | | | — | | | | | | — | | | | | $ | 363,000 | | |
Jose Carmona
Chief Financial Officer
|
| | | $ | 450,000 | | | | | | 40% | | | | | $ | 180,000 | | | | | $ | 135,000 | | | | | | 110% | | | | | $ | 45,000 | | | | | | 115% | | | | | $ | 200,250 | | |
Dannielle Appelhans
Chief Operating Officer
|
| | | $ | 450,000 | | | | | | 40% | | | | | $ | 180,000 | | | | | $ | 135,000 | | | | | | 110% | | | | | $ | 45,000 | | | | | | 100% | | | | | $ | 76,870(2) | | |
Maiken Keson-Brookes
Chief Legal Officer and Corporate Secretary
|
| | | $ | 416,000 | | | | | | 40% | | | | | $ | 166,400 | | | | | $ | 124,800 | | | | | | 110% | | | | | $ | 41,600 | | | | | | 115% | | | | | $ | 185,120 | | |
Laurence Turka, M.D.
Chief Scientific Officer and Head of Research & Translational Medicine
|
| | | $ | 425,026(3) | | | | | | 40% | | | | | $ | 170,010 | | | | | $ | 127,508 | | | | | | 110% | | | | | $ | 42,503 | | | | | | 115% | | | | | $ | 189,136 | | |
Name
|
| |
Number of Shares
Underlying Stock Options |
| |
Number of RSUs
|
| ||||||
Pablo J. Cagnoni, M.D.
|
| | | | 375,000 | | | | | | 85,000 | | |
Jose Carmona(1)
|
| | |
|
—
|
| | | |
|
—
|
| |
Dannielle Appelhans(2)
|
| | | | 150,000 | | | | | | 50,000 | | |
Maiken Keson-Brookes
|
| | | | 142,500 | | | | | | 32,300 | | |
Laurence Turka, M.D.
|
| | | | 131,250 | | | | | | 29,750 | | |
| | |
2020 Pay
|
| |
2021 Pay
|
| |
Change
(%) |
| |||||||||
Target Total Cash Compensation ($)
|
| | | $ | 906,750 | | | | | $ | 930,000 | | | | | | 2.6% | | |
Base Salary(1)
|
| | | $ | 585,000 | | | | | $ | 600,000 | | | | | | | | |
Target Performance Bonus(2)
|
| | | $ | 321,750 | | | | | $ | 330,000 | | | | | | | | |
Target Equity Compensation (# of shares)
|
| | | | 500,000 | | | | | | 460,000 | | | | | | — | | |
Options
|
| | | | 500,000 | | | | | | 375,000 | | | | | | | | |
RSUs
|
| | | | — | | | | | | 85,000 | | | | | | | | |
| | |
2020 Pay
|
| |
2021 Pay
|
| |
Change
(%) |
| |||||||||
Target Total Cash Compensation ($)
|
| | | $ | 630,000 | | | | | $ | 630,000 | | | | | | 0% | | |
Base Salary(1)
|
| | | $ | 450,000 | | | | | $ | 450,000 | | | | | | | | |
Target Performance Bonus(2)
|
| | | $ | 180,000 | | | | | $ | 180,000 | | | | | | | | |
Target Equity Compensation (# of shares)(3)
|
| | | | 400,000 | | | | | | — | | | | | | — | | |
Options
|
| | | | 400,000 | | | | | | — | | | | | | | | |
RSUs
|
| | | | — | | | | | | — | | | | | | | | |
| | |
2020 Pay(1)
|
| |
2021 Pay
|
| |
Change
(%) |
| |||
Target Total Cash Compensation ($)
|
| |
—
|
| | | $ | 630,000 | | | |
—
|
|
Base Salary(2)
|
| |
—
|
| | | $ | 450,000 | | | | | |
Target Performance Bonus(3)
|
| |
—
|
| | | $ | 180,000 | | | | | |
Target Equity Compensation (# of shares)(4)
|
| |
—
|
| | | | 200,000 | | | |
—
|
|
Options
|
| |
—
|
| | | | 150,000 | | | | | |
RSUs
|
| |
—
|
| | | | 50,000 | | | | | |
| | |
2020 Pay
|
| |
2021 Pay
|
| |
Change
(%) |
| |||||||||
Target Total Cash Compensation ($)
|
| | | $ | 560,000 | | | | | $ | 582,400 | | | | | | 4.0% | | |
Base Salary(1)
|
| | | $ | 400,000 | | | | | $ | 416,000 | | | | | | | | |
Target Performance Bonus(2)
|
| | | $ | 160,000 | | | | | $ | 166,400 | | | | | | | | |
Target Equity Compensation(3) (# of shares)
|
| | | | — | | | | | | 174,800 | | | | | | — | | |
Options
|
| | |
|
—
|
| | | | | 142,500 | | | | | | | | |
RSUs
|
| | |
|
—
|
| | | | | 32,300 | | | | | | | | |
| | |
2020 Pay
|
| |
2021 Pay
|
| |
Change
(%) |
| |||||||||
Target Total Cash Compensation ($)
|
| | | $ | 560,000 | | | | | $ | 595,036 | | | | | | 6.3% | | |
Base Salary(1)
|
| | | $ | 400,000 | | | | | $ | 425,026 | | | | | | | | |
Target Performance Bonus(2)
|
| | | $ | 160,000 | | | | | $ | 170,010 | | | | | | | | |
Target Equity Compensation (# of shares)(3)
|
| | |
|
350,000
|
| | | |
|
161,000
|
| | | |
|
—
|
| |
Options
|
| | | | 350,000 | | | | | | 131,250 | | | | | | | | |
RSUs
|
| | |
|
—
|
| | | | | 29,750 | | | | | | | | |
Name and Principal Position
|
| |
Year
|
| |
Salary
($) |
| |
Bonus
($)(5) |
| |
Stock
Awards ($)(6) |
| |
Option
Awards ($)(7) |
| |
Non-Equity
Incentive Plan Compensation ($)(8) |
| |
All Other
Compensation ($)(9) |
| |
Total
($) |
| ||||||||||||||||||||||||
Pablo J. Cagnoni, M.D.
President and Chief Executive Officer |
| | | | 2021 | | | | | | 597,528 | | | | | | — | | | | | | 1,017,450 | | | | | | 2,996,738 | | | | | | 363,000 | | | | | | 10,918 | | | | | | 4,985,634 | | |
| | | 2020 | | | | | | 579,167 | | | | | | 410,231 | | | | | | — | | | | | | 2,437,850 | | | | | | — | | | | | | 16,621 | | | | | | 3,443,869 | | | ||
| | | 2019 | | | | | | 547,500 | | | | | | 211,750 | | | | | | — | | | | | | 935,250 | | | | | | — | | | | | | 26,630 | | | | | | 1,721,130 | | | ||
Jose Carmona(1)
Chief Financial Officer |
| | | | 2021 | | | | | | 450,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 200,250 | | | | | | 8,945 | | | | | | 659,195 | | |
Dannielle Appelhans(2)
Chief Operating Officer |
| | | | 2021 | | | | | | 177,404 | | | | | | 130,000 | | | | | | 1,086,000 | | | | | | 2,185,155 | | | | | | 76,870 | | | | | | 38,706 | | | | | | 3,694,135 | | |
Maiken Keson-Brookes(3)
Chief Legal Officer and Corporate Secretary |
| | | | 2021 | | | | | | 413,333 | | | | | | — | | | | | | 386,631 | | | | | | 1,138,760 | | | | | | 185,120 | | | | | | 9,290 | | | | | | 2,133,134 | | |
| | | 2020 | | | | | | 400,000 | | | | | | 202,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 9,290 | | | | | | 611,290 | | | ||
| | | 2019 | | | | | | 50,000 | | | | | | 140,000 | | | | | | — | | | | | | 1,299,875 | | | | | | — | | | | | | 45 | | | | | | 1,489,920 | | | ||
Laurence Turka, M.D.(4)
Chief Scientific Officer and Head of Research and Translational Medicine |
| | | | 2021 | | | | | | 425,850 | | | | | | — | | | | | | 356,108 | | | | | | 1,048,858 | | | | | | 189,136 | | | | | | 11,564 | | | | | | 2,031,516 | | |
| | | 2020 | | | | | | 380,513 | | | | | | 312,693 | | | | | | — | | | | | | 1,706,495 | | | | | | — | | | | | | 11,731 | | | | | | 2,411,432 | | |
Name
|
| |
Grant Date
(1)
|
| |
Estimated
Possible Payouts Under Non-Equity Incentive Plan Awards – Target ($)(2) |
| |
All Other
Stock Awards; Number of Shares of Stock or Units (#)(3) |
| |
All Other
Option Awards; Number of Securities Underlying Options (#)(4) |
| |
Exercise
or Base Price of Option Awards ($/Sh)(5) |
| |
Grant Date
Fair Value of Stock and Option Awards ($)(6) |
| ||||||||||||||||||
Pablo J. Cagnoni, M.D.
|
| | | | — | | | | | | 330,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | — | | | | | | 375,000 | | | | | | 11.97 | | | | | | 2,996,738 | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | 85,000 | | | | | | — | | | | | | — | | | | | | 1,017,450 | | |
Jose Carmona
|
| | | | — | | | | | | 180,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Dannielle Appelhans
|
| | | | — | | | | | | 71,507 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 8/31/2021 | | | | | | — | | | | | | — | | | | | | 150,000 | | | | | | 21.72 | | | | | | 2,185,155 | | |
| | | | | 8/31/2021 | | | | | | — | | | | | | 50,000 | | | | | | — | | | | | | — | | | | | | 1,086,000 | | |
Maiken Keson- Brookes
|
| | | | — | | | | | | 166,400 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | — | | | | | | 142,500 | | | | | | 11.97 | | | | | | 1,138,760 | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | 32,300 | | | | | | — | | | | | | — | | | | | | 386,631 | | |
Laurence Turka, M.D.
|
| | | | — | | | | | | 170,010 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | — | | | | | | 131,250 | | | | | | 11.97 | | | | | | 1,048,858 | | |
| | | | | 1/29/2021 | | | | | | — | | | | | | 29,750 | | | | | | — | | | | | | — | | | | | | 356,108 | | |
| | |
Option Awards
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity Incentive
Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number of
shares or units of stock that have not vested(#) |
| |
Market
value of shares or units of stock that have not vested($)(1) |
| |||||||||||||||||||||
Pablo J. Cagnoni, M.D.
|
| | | | 3,486,858 | | | | | | 316,988(2) | | | | | | — | | | | | | 8.66 | | | | | | 4/10/2028 | | | | | | 85,000(3) | | | | | | 822,800 | | |
| | | | | — | | | | | | — | | | | | | 164,400(4) | | | | | | 16.43 | | | | | | 10/30/2028 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | — | | | | | | 193,400(5) | | | | | | 16.43 | | | | | | 10/30/2028 | | | | | | — | | | | | | — | | |
| | | | | 68,750 | | | | | | 31,250(6) | | | | | | — | | | | | | 13.69 | | | | | | 1/30/2029 | | | | | | — | | | | | | — | | |
| | | | | 218,750 | | | | | | 281,250(7) | | | | | | — | | | | | | 7.80 | | | | | | 1/30/2030 | | | | | | — | | | | | | — | | |
| | | | | — | | | | | | 375,000(8) | | | | | | — | | | | | | 11.97 | | | | | | 1/28/2031 | | | | | | — | | | | | | — | | |
Jose Carmona
|
| | | | 100,000 | | | | | | 300,000(9) | | | | | | — | | | | | | 6.27 | | | | | | 11/29/2030 | | | | | | — | | | | | | — | | |
Dannielle Appelhans
|
| | | | — | | | | | | 150,000(10) | | | | | | — | | | | | | 21.72 | | | | | | 8/30/2031 | | | | | | 50,000(11) | | | | | | 484,000 | | |
Maiken Keson-Brookes
|
| | | | 100,000 | | | | | | 125,000(12) | | | | | | — | | | | | | 7.70 | | | | | | 11/28/2029 | | | | | | 32,300(3) | | | | | | 312,664 | | |
| | | | | — | | | | | | 142,500(8) | | | | | | — | | | | | | 11.97 | | | | | | 1/28/2031 | | | | | | — | | | | | | — | | |
Laurence Turka, M.D.
|
| | | | 153,125 | | | | | | 196,875(7) | | | | | | — | | | | | | 7.80 | | | | | | 1/30/2030 | | | | | | 29,750(3) | | | | | | 287,980 | | |
| | | | | — | | | | | | 131,250(8) | | | | | | — | | | | | | 11.97 | | | | | | 1/28/2031 | | | | | | — | | | | | | — | | |
| | |
Option Awards
|
| |||
Name
|
| |
Number of Shares
Acquired on Exercise (#) |
| |
Value Realized on
Exercise ($)(1) |
|
Pablo J. Cagnoni, M.D.
|
| |
—
|
| |
—
|
|
Jose Carmona
|
| |
—
|
| |
—
|
|
Dannielle Appelhans
|
| |
—
|
| |
—
|
|
Maiken-Keson Brookes
|
| |
25,000
|
| |
564,750
|
|
Laurence Turka, M.D.
|
| |
—
|
| |
—
|
|
Name
|
| |
Qualifying
Termination Not in Connection with a Change in Control ($)(1) |
| |
Qualifying
Termination in Connection with a Change in Control ($)(1)(2) |
| ||||||
Pablo J. Cagnoni, M.D. | | | | | | | | | | | | | |
Cash Severance Payment
|
| | | | 600,000(3) | | | | | | 1,395,000(4) | | |
Target Cash Bonus Payment
|
| | | | — | | | | | | 330,000(5) | | |
COBRA Premiums
|
| | | | 21,478(6) | | | | | | 32,217(7) | | |
Accelerated Equity Vesting (Time-Based)
|
| | | | 764,028(8) | | | | | | 1,674,878(9) | | |
Accelerated Equity Vesting (Performance-Based)
|
| | | | — | | | | | | —(10) | | |
Total
|
| | | | 1,385,506 | | | | | | 3,432,095 | | |
Jose Carmona | | | | | | | | | | | | | |
Cash Severance Payment
|
| | | | 337,500(11) | | | | | | 630,000(12) | | |
COBRA Premiums
|
| | | | 16,109(13) | | | | | | 21,478(6) | | |
Accelerated Equity Vesting (Time-Based)
|
| | | | — | | | | | | 1,023,000(9) | | |
Total
|
| | | | 353,609 | | | | | | 1,674,478 | | |
Dannielle Appelhans | | | | | | | | | | | | | |
Cash Severance Payment
|
| | | | 337,500(11) | | | | | | 521,507(12) | | |
COBRA Premiums
|
| | | | 16,109(13) | | | | | | 21,478(6) | | |
Accelerated Equity Vesting (Time-Based)
|
| | | | — | | | | | | 484,000(9) | | |
Total
|
| | | | 353,609 | | | | | | 1,026,985 | | |
Maiken Keson-Brookes | | | | | | | | | | | | | |
Cash Severance Payment
|
| | | | 312,000(11) | | | | | | 582,400(12) | | |
COBRA Premiums
|
| | | | —(14) | | | | | | —(14) | | |
Accelerated Equity Vesting (Time-Based)
|
| | | | — | | | | | | 560,164(9) | | |
Total
|
| | | | 312,000 | | | | | | 1,142,564 | | |
Laurence Turka, M.D. | | | | | | | | | | | | | |
Cash Severance Payment
|
| | | | 348,740(11) | | | | | | 634,997(12) | | |
COBRA Premiums
|
| | | | 16,109(13) | | | | | | 21,478(6) | | |
Accelerated Equity Vesting (Time-Based)
|
| | | | — | | | | | | 658,105(9) | | |
Total
|
| | | | 364,849 | | | | | | 1,314,580 | | |
Plan Category
|
| |
Number of securities to
be issued upon exercise of outstanding options, warrants and rights (#) |
| |
Weighted-
average exercise price of outstanding options, warrants and rights ($) |
| |
Number of
securities remaining available for future issuance under equity compensation plans (excluding securities reflected in first column) |
| |||||||||
Equity compensation plans approved by security holders(1)
|
| | | | 18,290,816(2) | | | | | $ | 12.13(3) | | | | | | 5,007,745(4) | | |
Equity compensation plans not approved by security holders
|
| | | | — | | | | | | — | | | | | | — | | |
Total
|
| | | | 18,290,816 | | | | | $ | 12.13 | | | | | | 5,007,745 | | |
| | | |
THE COMPENSATION AND TALENT COMMITTEE OF THE BOARD OF DIRECTORS OF RUBIUS THERAPEUTICS, INC.
Catherine A. Sohn, Pharm.D., Chairperson Noubar B. Afeyan, Ph.D. Francis Cuss, M.B., B.Chir., FRCP |
|
| March 30, 2022 | | | | |
| | |
Shares beneficially owned
|
| |||||||||
Name and address of beneficial owner
|
| |
Number
|
| |
Percentage
|
| ||||||
5% Stockholders: | | | | | | | | | | | | | |
Entities affiliated with the Flagship Pioneering Funds(1)
|
| | | | 38,506,526 | | | | | | 42.7% | | |
FMR LLC(2)
|
| | | | 13,479,866 | | | | | | 14.9% | | |
Baillie Gifford & Co(3)
|
| | | | 4,930,859 | | | | | | 5.5% | | |
Named Executive Officers and Directors: | | | | | | | | | | | | | |
Pablo J. Cagnoni, M.D.(4)
|
| | | | 4,312,853 | | | | | | 4.6% | | |
Jose Carmona(5)
|
| | | | 150,000 | | | | | | * | | |
Dannielle Appelhans(6)
|
| | | | — | | | | | | * | | |
Maiken Keson-Brookes(7)
|
| | | | 165,499 | | | | | | * | | |
Laurence Turka, M.D.(8)
|
| | | | 242,811 | | | | | | * | | |
Noubar B. Afeyan, Ph.D.(9)
|
| | | | 38,606,526 | | | | | | 42.8% | | |
Francis Cuss, M.B., B.Chir., FRCP(10)
|
| | | | 240,000 | | | | | | * | | |
David R. Epstein(11)
|
| | | | 7,171,065 | | | | | | 7.8% | | |
Natalie Holles(5)
|
| | | | 100,000 | | | | | | * | | |
Anne Prener, M.D., Ph.D.(5)
|
| | | | 62,500 | | | | | | * | | |
Michael Rosenblatt, M.D.(5)
|
| | | | 250,000 | | | | | | * | | |
Catherine A. Sohn, Pharm.D.(12)
|
| | | | 232,500 | | | | | | * | | |
Sir Jonathan R. Symonds, CBE(13)
|
| | | | 295,000 | | | | | | * | | |
All executive officers and directors as a group (13 persons)(14)
|
| | | | 51,828,754 | | | | | | 52.6% | | |
| | | |
THE AUDIT COMMITTEE OF
THE BOARD OF DIRECTORS OF RUBIUS THERAPEUTICS, INC. Sir Jonathan R. Symonds, CBE, Chairperson Natalie Holles Catherine A. Sohn, Pharm.D. |
|
| March 30, 2022 | | | | |
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