Blake Aftab
Adicet BioAbout Blake Aftab
Blake Aftab, Ph.D., is Chief Scientific Officer (CSO) at Adicet Bio (ACET). He has served as CSO since October 2021, after joining in April 2021 as VP of R&D; he is 43 as of April 15, 2025 and holds a Ph.D. from Johns Hopkins University School of Medicine and a B.S. in Pharmacology from the University of California . Company performance during his tenure shows Total Shareholder Return values of $44.70 (2022), $9.45 (2023) and $4.81 (2024), alongside a 2024 net loss of $117.1 million, framing the pay-versus-performance context for senior leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Adicet Bio | Chief Scientific Officer | Oct 2021–Present | Leads research strategy and translational medicine; oversight of preclinical and clinical translational activities |
| Adicet Bio | VP, Research & Development | Apr 2021–Oct 2021 | Built R&D function and programs preceding CSO appointment |
| Atara Biotherapeutics (Nasdaq: ATRA) | VP & Head of Preclinical and Translational Sciences; other leadership roles | Apr 2015–Mar 2021 | Directed preclinical science and translational medicine strategy and execution |
| UCSF School of Medicine | Scientific roles of increasing responsibility | Oct 2012–Aug 2015 | Academic research and translational roles prior to industry leadership |
External Roles
- No public company directorships or external board roles disclosed for Aftab in ACET filings .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus ($) | All Other Compensation ($) | Notes |
|---|---|---|---|---|---|
| 2024 | 470,692 (base set at $471,000) | 40% | 131,880 | 91,245 (includes $75,000 relocation assistance; $15,525 401(k) match; $720 phone) | Base salaries reviewed annually; 2024 increase ~3.5% |
Performance Compensation
Annual Bonus Plan
| Year | Metric Framework | Target Bonus (%) | Corporate Payout vs Target | Actual Cash Payout ($) |
|---|---|---|---|---|
| 2024 | Company goals set and weighted by Comp Committee; financial/operational objectives | 40% | 70% | 131,880 |
Equity Awards (2024 Grants and Outstanding at FY-End)
| Grant Date | Instrument | Number of Securities | Exercise Price ($/share) | Term | Vesting |
|---|---|---|---|---|---|
| 1/24/2024 | Stock Options | 55,268 (exercisable) + 185,905 (unexercisable) | 2.40 | 10 years | Vests over 4 years |
| 1/24/2024 | RSUs | 19,700 (unvested; $18,912 MV at 12/31/24) | — | — | Standard service-based vesting; included in FY-end outstanding |
| 1/26/2024 | Stock Options | 77,208 (exercisable) + 259,703 (unexercisable) | 2.53 | 10 years | Vests over 4 years |
| Prior grants | Stock Options | 45,833+4,167 (4/30/2021); 44,112+12,500 (10/12/2021); 91,145+33,855 (1/7/2022); 40,000+20,000 (5/10/2022) | 2.14 | 10 years | Vests over 4 years |
- Company-wide option repricing in August 2023 reset many pre-2023 grants to $2.14, creating $4.6M incremental comp cost; rescission applied to certain directors in 2024; expense still recognized where applicable .
- FY-end market value for RSUs computed at $0.96/share (12/31/2024 close) .
Equity Ownership & Alignment
| As of | Shares Owned Directly | Options Exercisable within 60 Days | Total Beneficial Ownership | Ownership % | Pledged/Hedged |
|---|---|---|---|---|---|
| Nov 14, 2025 | 34,408 | 712,088 | 746,496 | <1% of 153,255,581 shares outstanding | No pledging disclosed; lock-up agreement executed Oct 2025 |
| Oct 31, 2025 | 34,408 | 703,754 | 738,162 | <1% of 153,255,581 | No pledging disclosed |
- Lock-up: Executed in October 2025; prohibits sales/pledges/hedges during “Lock-up Period” through 60 days after the prospectus date; Aftab listed among executive officers signing .
- Many options have exercise prices ≥$2.14 while common closed at $0.66 on record date for the November 2025 proxy, implying most options are out-of-the-money at that time, reducing near-term selling pressure .
Employment Terms
| Provision | Key Terms |
|---|---|
| Base/Bonus/Benefits | Annual base salary; annual target bonus % of base; eligible for benefits; relocation allowance up to $6,250/month for up to 4 years (fully taxable) |
| Severance (outside CIC) | If terminated without cause or for good reason: 9 months base salary; prior-year unpaid bonus if any; up to 9 months of relocation allowance or remaining months; monthly cash payment equivalent to employer health contribution for up to 9 months, including tax gross-up; installments commence within 60 days |
| Change-in-Control (double-trigger) | If terminated without cause or for good reason within 12 months post-CIC: lump sum equal to 1x (base salary + target bonus, using higher of pre/post-CIC values); prior-year unpaid bonus; up to 9 months relocation allowance; 100% acceleration of time-based equity awards; up to 12 months employer-equivalent health contribution via monthly cash payment; standard definitions of “cause/good reason/CIC” apply |
Performance & Track Record
| Period | Evidence of Execution |
|---|---|
| 2025 (Phase 1 autoimmune) | Reported preliminary ADI-001 data in LN/SLE: rapid, sustained reductions in SLEDAI-2K and PGA; improved kidney function with complete and partial renal responses; favorable safety (no ≥Grade 2 CRS, no ICANS); immune reset and discontinuation/tapering of immunosuppressants; program expanding across autoimmune pipeline |
| 2026 milestones (planning) | Targeting regulatory interactions for pivotal design in LN/LN+SLE; multiple clinical updates across indications; ADI-212 oncology plan highlights |
Compensation Structure Analysis
- 2024 mix emphasizes options with modest RSU grants; options vest over four years, supporting retention and long-term alignment .
- Bonuses paid at 70% of target on company goals despite ongoing net losses, reflecting framework-based payout rather than discretionary awards; informs pay-for-performance calibration .
- 2023 option repricing to $2.14 is a shareholder-alignment risk flag; incremental compensation recognized; later rescission applied to certain directors only .
Equity Ownership & Alignment Details
| Item | Status |
|---|---|
| Stock ownership guidelines | Not disclosed in filings |
| Clawback policy | Not specifically disclosed for Aftab in cited sections; company compensation governance discussed generally |
| Hedging/pledging | Lock-up terms explicitly restrict selling/pledging/hedging during lock-up; no pledging disclosed |
Employment Contracts & Restrictive Covenants
- Non-compete, non-solicit, garden leave, and post-termination consulting terms are not disclosed in the cited sections for Aftab; filings emphasize severance and CIC mechanics .
Investment Implications
- Alignment: Large option holdings with strikes at or above $2.14 vs recent sub-$1 trading levels reduce immediate monetization risk and selling pressure; RSU exposure is comparatively small, supporting longer-horizon alignment .
- Retention risk: Severance of 9 months salary plus health and relocation benefits outside CIC, and 1x salary+target bonus with full acceleration of time-based equity on double-trigger CIC, suggest moderate retention economics with meaningful downside protection; acceleration could incentivize retention through transaction close .
- Governance red flags: Prior option repricing is shareholder-sensitive; monitor future equity modifications and lock-up expirations (60 days post-offering prospectus) for potential changes in insider selling dynamics .
- Execution: Reported early autoimmune clinical data for ADI-001 underpin the strategic rationale for Aftab’s role; near-term milestones and pivotal pathway discussions are critical catalysts for value creation and future incentive payouts .