Jim Doherty
About Jim Doherty
Jim Doherty, Ph.D., is President and Chief Development Officer of Acumen Pharmaceuticals (ABOS), appointed effective February 1, 2024; he is age 57 as of April 1, 2025 and oversees clinical and non-clinical development, CMC, and regulatory functions, reporting to the CEO . He holds a B.A. in Biology from the University of Delaware and a Ph.D. in Neurobiology from Georgetown University, with decades of CNS drug R&D and development leadership at Sage Therapeutics and AstraZeneca; at Sage, his team achieved FDA approvals of two treatments for postpartum depression . Company-level bonus metrics tied to 2024 performance were corporate goals in R&D, operational effectiveness, and brand progress, with individual goals focused on finance/R&D for applicable executives .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sage Therapeutics | Chief Development Officer | Oct 2021–Jan 2024 | Led development; team achieved U.S. FDA approvals of two postpartum depression treatments |
| Sage Therapeutics | Chief Research Officer | Dec 2016–Oct 2021 | Directed research functions across CNS portfolio |
| AstraZeneca (Sodertalje, Sweden) | Director & Head of Neuroscience, CNS & Pain IMed | Not disclosed | Led Alzheimer’s disease and neurodegeneration research pipeline |
| AstraZeneca (Wilmington, DE) | Director & Head of Neuroscience | Not disclosed | Led U.S. neuroscience department |
External Roles
No public company directorships or external board roles disclosed for Jim Doherty in the proxy/8-K filings.
Fixed Compensation
| Item (Jim Doherty) | FY 2024 | FY 2025 | Notes |
|---|---|---|---|
| Base salary (annualized) | $500,000 | $520,000 | Committee-approved annual base salaries |
| Salary paid | $458,333 | — | Prorated due to Feb 1, 2024 start |
| Target bonus % | 40% of base (prorated) | — | 2025 target not disclosed |
| Actual bonus paid | $210,885 | — | Based on 2024 corporate/individual goals |
| Perquisites and benefits | $19,859 | — | Includes 401(k) match ($13,800), HSA contribution ($2,200), cell phone ($1,100), wellness ($605), life insurance premium reimbursement ($2,128), gift card ($25) and de minimis tax gross-up ($1) |
Performance Compensation
| Metric Category | Weighting | Target | Actual Attainment | Payout ($) | Vesting/Payment Timing |
|---|---|---|---|---|---|
| Corporate goals (R&D, operational effectiveness, brand progress) | 80% of bonus | Bonus target: 40% of base (prorated) | 119% attainment | $210,885 total bonus for 2024 | Determined after year-end; may be paid cash or equity |
| Individual goals (finance/R&D) | 20% of bonus | Bonus target: 40% of base (prorated) | 100% attainment | Included in total above | Determined after year-end |
Equity Awards and Vesting
| Grant Type | Grant Date | Shares/Units | Exercise Price | Fair Value | Vesting Schedule | Expiration |
|---|---|---|---|---|---|---|
| Stock option | Feb 1, 2024 | 601,000 | $3.11/sh | $1,493,004 | 25% vested on Feb 1, 2025; remaining vests in 36 equal monthly installments thereafter, subject to continuous service | Feb 1, 2034 |
| Grant timing disclosure (Reg S-K 402(x)) | Feb 1, 2024 | — | — | — | Filed same day as 8-K announcing appointment; closing price change around disclosure: -6.6% | — |
Equity Ownership & Alignment
| Snapshot date | Beneficial Ownership (shares) | % of Outstanding | Composition |
|---|---|---|---|
| April 8, 2025 | 210,051 | Less than 1% | Options exercisable within 60 days of April 8, 2025 |
| December 31, 2024 | 601,000 unexercisable options | — | New-hire option award; 25% vest on Feb 1, 2025 then monthly |
- Hedging, short sales, margin accounts, and transactions in puts/calls are prohibited for employees/directors under the insider trading policy, which supports alignment; the company does not time equity grants around MNPI disclosures .
- No pledging or executive stock ownership guidelines are disclosed for executives in the proxy; none cited for Doherty in available filings.
Employment Terms
| Provision | Details |
|---|---|
| Employment start / role | Appointed President & CDO effective Feb 1, 2024 |
| Agreement covenants | Employee Confidential Information and Inventions Assignment Agreement; non-solicit of employees, consultants, customers during employment and for 1 year post-termination; perpetual confidentiality and IP assignment |
| Severance (non-CoC) | If terminated without cause or resigns for good reason outside CoC: base salary continuation for 9 months; COBRA premium payment/reimbursement for up to 12 months or until eligible for new coverage |
| Severance (CoC double-trigger) | If terminated without cause or resigns for good reason within 3 months prior to or 12 months post-CoC: base salary continuation for 12 months; COBRA premium payment/reimbursement for up to 12 months; lump-sum cash equal to 1.0x target annual bonus; accelerated vesting/exercisability of all outstanding time-based equity awards (performance awards per award terms) |
| 280G “better-of” | Benefits reduced only if reduction increases after-tax amount (better-of provision) |
Performance & Track Record
- CNS leadership across discovery-to-approval lifecycle; at Sage, team achieved FDA approvals for two postpartum depression treatments, indicating execution through late-stage development and regulatory milestones .
- Led Alzheimer’s and neurodegeneration research pipelines at AstraZeneca; deep domain expertise aligned with Acumen’s ACU193 program focus .
Compensation Committee and Governance Context
- Compensation Committee members: Kimberlee Drapkin, Jeffrey Ives (Chair), Sean Stalfort; met four times in FY2024 and engaged Aon Human Capital Solutions for peer benchmarking and board/non-executive equity strategy .
- Committee generally sets executive compensation in Q1, including salaries, annual bonuses, and equity awards, and reviews company performance against goals .
Investment Implications
- Pay-for-performance signals: Doherty’s 2024 bonus was tied to corporate R&D/operational/brand goals (119% attainment) and individual goals (100% attainment), with a 40% target bonus, indicating incentive alignment with development execution .
- Retention vs acquisition economics: Double-trigger CoC protections (12 months base, 1.0x target bonus, and accelerated vesting of time-based equity) balance retention with change-of-control outcomes; watch for potential acceleration impacts on dilution/talent retention in strategic scenarios .
- Insider selling pressure: Option award vests monthly after Feb 1, 2025 with exercisability rising over time; hedging/derivatives/margin are prohibited, reducing misalignment risk; monitor Form 4 filings for exercises/sales as options continue to vest .
- Ownership alignment: Beneficial ownership is currently immaterial (<1%), primarily via vested options; no executive ownership guidelines disclosed, so alignment relies on ongoing vesting and insider trading policy constraints .