Zachariah Jonasson
About Zachariah Jonasson
Zachariah Jonasson, Ph.D., is Absci’s Chief Financial Officer and Chief Business Officer, serving since August 31, 2023; he previously sat on Absci’s board (October 2020–December 2023) and on the predecessor Absci LLC’s board (April 2016–October 2020) . He is 52 years old, with a B.S. from Georgetown (1995) and A.M./Ph.D. from Harvard (2000/2003), and has held venture and operating roles including Managing General Partner at Phoenix Venture Partners and co-founder/CEO of Comera Life Sciences (NASDAQ: CMRA) . As an emerging growth company, Absci does not provide pay-versus-performance TSR or revenue/EBITDA alignment tables; annual cash incentive goals for 2024 focused on pipeline milestones, partnerships, AI platform development, and cash flow objectives (achieved at 100%) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Phoenix Venture Partners LLC | Managing General Partner (co-founder) | Aug 2010–Aug 31, 2023 | Led venture investments in biotech/tech; board seats across portfolio companies |
| Convergent Ventures | Managing General Partner (co-founder); Advisor | Apr 2023–present (Advisor) | Seed-stage VC; ongoing advisory engagement |
| Comera Life Sciences (NASDAQ: CMRA) | Co-founder and Chief Executive Officer | Prior to Absci | Operating leadership in biologics formulation; public company experience |
| Crop Enhancement, LLC | Co-founder; VP Business Development | Prior to Absci | Commercialization and BD in ag-biotech |
| Seaflower Ventures | General Partner; Kauffman Fellow | Earlier career | Early-stage biotech investing; networked capital formation |
| Board of Governors of the Federal Reserve | Research Associate | Pre-graduate school | Analytical training and macro research foundation |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| L7 Informatics, Micropore, Xandar Kardian, Green Theme Technologies, Crop Enhancement | Director (until departure from PVP on Aug 31, 2023) | Through Aug 31, 2023 | Governance oversight at portfolio companies |
| OTRADI; Oregon Bioscience Incubator | Director | Prior years | Regional life sciences ecosystem development |
| ONAMI; Oregon Innovation Cluster; UBC Life Sciences Institute | Advisory Boards | Prior years | Scientific-commercialization mentorship and strategy |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $175,333 | $533,000 |
| Target Bonus (%) | 50% (prorated) | 50% |
| Actual Bonus Paid ($, Non‑equity Incentive) | $87,700 | $266,500 |
| All Other Compensation ($) | $43,604 (includes $38,179 director fees; $5,425 401(k) match) | $13,800 (401(k) match) |
| Base Salary Adjustment (effective Mar 1) | $520,000 (effective Mar 1, 2023) | Increased to $557,024 effective Mar 1, 2025 |
Notes:
- Absci’s Compensation Committee confirmed 100% achievement of 2024 corporate performance goals, driving payout at target for participating executives .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Incentive (2024) | Not disclosed | 50% of base salary | 100% of Corporate Performance Goals achieved | $266,500 | Paid within 74 days after fiscal year end per plan |
| Corporate Performance Goals (2024) | Weighted across goals | Pipeline development; strategic collaborations; R&D milestones; AI platform; cash flow | Achieved | Drives full target payout | Annual assessment by Committee |
Equity Ownership & Alignment
| Metric | 2024 (as of Mar 31, 2024) | 2025 (as of Mar 31, 2025) |
|---|---|---|
| Beneficial Ownership (Shares) | 175,666 (166,666 options exercisable within 60 days; 9,000 shares) | 715,335 (576,522 options exercisable within 60 days; 138,813 shares) |
| Ownership % of Outstanding | <1% | <1% |
| Shares Outstanding (reference) | 112,998,922 | 127,540,754 |
| Hedging/Pledging | Company policy prohibits hedging and pledging of company securities for insiders | Company policy prohibits hedging and pledging |
| Clawback Policy | Effective Aug 3, 2023, Nasdaq Rule 10D‑1 compliant | Effective Aug 3, 2023 |
| Section 16 Reporting | N/A | One late Form 4 for tax withholding of 5,194 shares on Nov 30, 2024 (RSU settlement) |
Outstanding Equity Awards (as of Dec 31, 2024)
| Award Type | Grant Date | Exercise Price | Expiration | Outstanding (Exercisable / Unexercisable) | Vesting Schedule | Notes |
|---|---|---|---|---|---|---|
| Stock Option | 9/1/2023 | $1.87 | 8/31/2033 | 333,333 / 666,667 | Monthly over 4 years from 8/31/2023 | 2021 Plan |
| RSU | 9/1/2023 | N/A | N/A | 145,834 unvested; MV $382,085 at $2.62 | 33% on 1st anniversary; then quarterly to 8/31/2026 | 2021 Plan |
| RSU | 10/12/2023 | N/A | N/A | 1,934 unvested; MV $5,067 | Equal annual installments to 10/12/2026 | 2021 Plan |
| Stock Option | 2/1/2024 | $4.40 | 1/31/2034 | 0 / 479,570 | 33% at 1st anniversary; then equal annual installments | 2021 Plan |
| RSU | 2/1/2024 | N/A | N/A | 114,010 unvested; MV $298,706 | 33% at 1st anniversary; then equal annual installments to 2/1/2027 | 2021 Plan |
Market value references use $2.62 per share on Dec 31, 2024 as provided by the company’s valuation in the proxy tables .
Employment Terms
| Provision | Base Case (Non‑CIC) | Change‑in‑Control (CIC) | Equity Acceleration | Other |
|---|---|---|---|---|
| Severance Cash | 9 months base salary, paid over 9 months (reduced by any garden leave pay) | Lump sum equal to 12 months base salary plus 1× annual target bonus (reduced by any garden leave pay) | Immediate acceleration of outstanding time‑based equity awards upon qualifying termination within CIC period | Requires execution/effectiveness of general release; company discretion for one‑year post‑employment non‑compete |
| COBRA | Company contribution to COBRA premiums for up to 9 months | Company contribution to COBRA premiums for up to 12 months | N/A | N/A |
Director/Committee Governance Touchpoints
- As a named executive officer in 2024, Jonasson’s compensation is set by the Compensation Committee; the committee retained Aon for program design and market data; pay philosophy targets competitive mix across salary, annual bonus, and long-term equity .
- Absci is an emerging growth company and does not conduct say‑on‑pay votes yet .
Compensation Mix Trends
| Component | 2023 ($) | 2024 ($) | Commentary |
|---|---|---|---|
| Salary | $175,333 | $533,000 | Reflects partial-year start in 2023; normalized in 2024 |
| Bonus (Cash) | $87,700 | $266,500 | 2024 payout at target tied to 100% corporate goal achievement |
| Stock Awards (RSUs) | $471,328 | $501,644 | Multi-year RSU grants emphasizing retention and alignment |
| Option Awards | $1,401,708 | $1,517,907 | Significant at-risk, time-based vesting across 4 years |
| All Other Comp | $43,604 | $13,800 | Primarily benefits (401(k) match) |
Risk Indicators & Red Flags
- Hedging and pledging prohibited by policy (alignment positive) .
- Late Section 16 filing (Nov 30, 2024 tax withholding RSU settlement of 5,194 shares) — administrative issue, not a sale; limited governance impact .
- High equity reliance implies potential insider selling upon vesting to cover taxes/liquidity; actual transaction patterns beyond RSU tax withholding not disclosed here .
Investment Implications
- Alignment: Large option/RSU stack with multi-year vesting and company-wide prohibition of hedging/pledging supports incentive alignment and discourages misalignment behaviors .
- Retention: CIC terms (12 months salary + 1× bonus; equity acceleration) and ongoing RSU/option vesting reduce near-term departure risk; base salary increased in 2025 to $557,024 indicates continued retention focus .
- Performance linkage: 2024 cash incentive paid at target on strategic execution (pipeline, partnerships, AI, cash flow), but quantitative weighting/thresholds are undisclosed; monitoring future disclosures as Absci transitions to clinical-stage operations is key .
- Selling pressure: Routine RSU tax-withholding occurred; absence of pledging/hedging reduces forced-selling risk. Watch vesting calendars (Aug 31 and Feb 1 anniversaries) for potential periodic sales related to taxes/liquidity .
- Governance: Clawback policy (effective Aug 3, 2023) and insider trading restrictions enhance downside protection for shareholders .