Thomas Sellig
ACHIEVE LIFE SCIENCESAbout Thomas Sellig
Independent director at Achieve Life Sciences (ACHV), age 58, serving since 2023. He is Chair of the Compensation Committee and a member of the Audit Committee. Sellig holds a B.A. in Economics from Vanderbilt University and an M.B.A. from New York University, and brings extensive pharmaceutical services leadership experience including CDMO and CRO commercial operations . The Board has determined he is independent under SEC and Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Adare Pharmaceuticals (global CDMO) | Chief Executive Officer | Jan 2022–present | Leads global CDMO operations; commercial and manufacturing oversight |
| LabConnect, Inc. (clinical trial lab services) | Chief Executive Officer | Jul 2019–Oct 2021 | Grew clinical lab network capabilities |
| PSKW/ConnectiveRx (biopharma services) | Chief Commercial Officer | Sep 2018–Jul 2019 | Commercial leadership in patient support services |
| Patheon N.V. / Thermo Fisher Scientific | SVP Global Sales (Patheon); continued SVP Global Sales post-acquisition at Thermo Fisher | Nov 2014–Aug 2017 (Patheon); Aug 2017–after acquisition | Built global CDMO commercial engine |
| Covance (LabCorp drug development business) | Global VP Sales & Client Services; VP Strategic Partnering/Alliance Mgmt | 2011–2014; 2007–2011 | Strategic partnering and key account development |
| Procter & Gamble; Wyeth; Ascent Pediatrics | Sales/Marketing leadership roles | Early career | Commercial execution in consumer and pharma |
External Roles
| Organization | Role | Type | Notes / Potential Interlocks |
|---|---|---|---|
| Adare Pharmaceuticals | CEO | Private CDMO | No ACHV related-party transactions disclosed . ACHV is clinical-stage pharma; no supplier/customer linkage disclosed . |
| Prior: LabConnect; PSKW/ConnectiveRx; Patheon/Thermo; Covance | Executive | Pharma services | No current ACHV related-party exposure disclosed . |
Board Governance
- Committee assignments: Chair, Compensation Committee; Member, Audit Committee .
- Committee activity: Compensation Committee met 7 times in FY 2024 and used Aon (no conflicts) for benchmarking; Audit Committee met 4 times .
- Independence: Board determined Sellig is independent (SEC/Nasdaq criteria) .
- Attendance: Board held 11 meetings in FY 2024; each director attended at least 75% of Board and committee meetings during service .
- Risk oversight and governance policies: Clawback policy adopted Aug 2023 ; Whistleblower policy; hedging/shorting/pledging prohibitions for directors and employees .
- Lead Independent/Chair structure: Independent Chairman role to be assumed by Thomas King; CEO separate .
Fixed Compensation
| Component | Amount | Terms |
|---|---|---|
| Annual cash retainer (non-employee director) | $40,000 | Paid quarterly; pro-rated; requires service at payment date |
| Lead Independent Director retainer | $60,000 (ended Aug 2024 when Mr. King became employee) | Paid quarterly; applies only to LID |
| Compensation Committee Chair fee | $10,000 | Annual; paid quarterly |
| Audit Committee member fee | $7,500 | Annual; paid quarterly |
| Nominating & Governance Committee chair/member fees | $7,500 chair; $3,500 member | Annual; paid quarterly |
| Meeting fees | None disclosed | — |
| 2024 Director Compensation (Actual) | Cash Fees ($) | Option Awards Fair Value ($) | Total ($) |
|---|---|---|---|
| Thomas Sellig | 59,472 | 104,378 | 163,850 |
Notes: Option award fair values reflect FASB ASC 718 grant-date fair value and do not equal realized value .
Performance Compensation
| Equity Grant | Grant Date | Shares/Type | Strike/Terms | Vesting | Fair Value |
|---|---|---|---|---|---|
| Annual director option grant | Jan 22, 2024 | 31,500 options | Strike: closing price on grant date; grants under 2018/2023 plans | 100% on earlier of 18 months or immediately prior to 2025 annual meeting (expected June 3, 2025) | $104,378 (ASC 718) |
| Initial director option grant (upon joining Board) | Mar 29, 2023 | 23,250 options | $5.97 exercise price | Vests monthly over 36 months; Plan approved June 7, 2023 | — |
| Director Equity Plan change-of-control | — | All director awards | — | Vesting of all non-employee director awards accelerates and stock options become fully exercisable upon Corporate Transaction | — |
| Recoupment/clawback | — | All awards under Plan | — | Awards subject to clawback per Board policy and applicable law ; Company clawback adopted Aug 2023 | — |
Performance metrics: No director-specific performance metrics disclosed; director equity uses time-based vesting. Company-level clawback and insider policies apply .
Other Directorships & Interlocks
| Company | Role | Public/Private | Interlocks/Conflicts |
|---|---|---|---|
| None disclosed (public company boards) | — | — | Proxy does not list other public company directorships for Sellig . |
Expertise & Qualifications
- Pharmaceutical services leadership (CDMO, CRO, patient support), global sales/commercial operations, alliance management .
- Education: B.A. Economics (Vanderbilt); M.B.A. (NYU) .
- Board-relevant skill set: compensation leadership (Comp Committee Chair), audit oversight familiarity via Audit Committee membership .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | Type/Breakdown | % of Class |
|---|---|---|---|
| Thomas Sellig | 78,750 | Options exercisable within 60 days of April 15, 2025 | <1% |
| ACHV shares outstanding (reference) | 34,685,072 | Common stock outstanding as of Apr 15, 2025 | — |
Hedging/pledging: Company policy prohibits hedging and pledging by directors; no pledges disclosed for Sellig .
Insider Trades
| Transaction Date | Form | Security | Quantity | Price/Strike | Key Terms/Notes |
|---|---|---|---|---|---|
| Mar 29, 2023 (filed Jun 9, 2023) | Form 4 | Stock option (right to buy) | 23,250 | $5.97 | Vests monthly over 36 months; under 2023 Non-Employee Director Equity Incentive Plan |
| Jun 6, 2025 (filed Jun 10, 2025) | Form 4 | Stock option grant (director award) | — | — | Filing reflects director option grant events; details available via filing index |
Governance Assessment
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Strengths:
- Independence affirmed; no related-party transactions involving Sellig above $120,000 disclosed .
- Compensation Committee chaired by Sellig engages independent consultant (Aon) with no conflicts; robust meeting cadence (7 in FY 2024) .
- Audit Committee membership supports financial oversight; Board maintained 11 meetings in FY 2024 with directors meeting attendance thresholds .
- Strong governance policies: clawback, whistleblower, and prohibitions on hedging/pledging/shorting .
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Watch items / potential red flags:
- Director equity acceleration on change-of-control can create optics of transaction-incentives; monitor alignment with long-term shareholder interests .
- Proxy does not disclose director stock ownership guidelines; limited reported beneficial ownership (<1%) may indicate modest personal “skin-in-the-game” despite significant option awards .
- Director compensation mix is equity-heavy (2024: ~$104k options vs ~$59k cash), which aligns interests but could emphasize near-term market/transaction outcomes; continue to track award structures and vesting terms .
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Overall: Sellig’s governance profile reflects independence, active committee leadership, and relevant sector expertise with no disclosed conflicts. Equity-heavy director pay, CO acceleration, and lack of disclosed ownership guidelines merit ongoing monitoring for investor alignment .