Christopher Hill
Adaptimmune TherapeuticsAbout Christopher Hill
Christopher Hill, 45, was engaged as Chief Financial Officer of Adaptimmune via a consulting agreement with CJH Financial Limited effective September 10, 2025. He is a chartered accountant with a B.A. in Economics and Public Policy from Leeds Metropolitan University and brings 10+ years in CFO/COO roles across public and private life science companies. His tenure at Adaptimmune is structured as an independent contractor CFO role; given the recent appointment, firm-level TSR/revenue/EBITDA performance during his tenure is not yet applicable.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Istesso Limited | Chief Financial Officer and Chief Operating Officer | Sep 2021 – Sep 9, 2025 | CFO/COO of private drug development co. (pre-clinical to Phase IIb) in autoimmune/fibrotic diseases; stepping down prior to ADAP role |
| Ixaka Limited | Part-time Chief Financial Officer | Apr 2020 – Sep 2021 | CFO for private cell therapy company |
| OxSonics Therapeutics Limited | Finance Director | Mar 2019 – Sep 2021 | Finance lead for clinical-stage therapeutics improving drug delivery to solid tumors |
| Luke Hughes and Company Limited | Part-time Chief Financial Officer | Mar 2018 – Jun 2019 | Oversaw a corporate restructure at a private manufacturer |
| Oxford Pharmascience Group Plc (AIM) | Chief Financial Officer; Board Member | Oct 2013 – Jan 2018 | Led finance/legal/HR and AIM/regulatory reporting; executed demerger and spin-outs to Abaco Capital (AIM: ABAA) and Oxford Pharmascience Limited |
| Ora Capital Partners Limited (AIM-listed vehicle) | Group Financial Controller | Jul 2010 – Oct 2013 | Group-level financial control |
| Grant Thornton UK LLP | Audit Senior | Jun 2005 – Jun 2010 | Audit/professional services experience |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Connexion Therapeutics Group Limited | Director | Current as of Sep 2025 | Private company directorship |
| CJH Financial Limited | Director | Current as of Sep 2025 | Hill’s consulting entity engaged by Adaptimmune |
Fixed Compensation
| Component | Terms / Amount | Notes |
|---|---|---|
| Engagement | Consulting Agreement (Adaptimmune Limited ↔ CJH Financial Limited) appointing Hill as CFO; effective Sep 10, 2025 | Item 5.02 of 8-K; Exhibit 10.1 |
| Day rate | £2,200 per day (approx. $2,968) | Compensation verified by timesheets; USD shown in filing |
| Billing & payment | Invoices monthly (within 14 days post month-end); payable in 30 days | Per contract clause 3.2 |
| Initial commitment | Company will pay for at least 3 days/week for first 6 months from start date | SOW provision |
| Minimum guaranteed fees (first 6 months) | £171,600 | 26 weeks × 3 days/week × £2,200/day (derived from SOW) |
| Annual/overall cap | Fees not to exceed £500,000 without written authorization | SOW cap |
| Bonus eligibility | Not eligible for a bonus | Explicitly stated in 8-K |
| Equity eligibility | Not eligible for award of share options | Explicitly stated in 8-K |
| Benefits | Independent contractor; no entitlement to pension, insurance, car or other fringe benefits | Contractor status; benefits disclaimer |
| Expenses | Reimbursement of pre-approved reasonable out-of-pocket expenses per policy | Expense policy and evidence requirements |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual bonus | N/A | N/A | N/A | Not eligible | N/A |
| PSUs/RSUs/Options | N/A | N/A | N/A | Not eligible | N/A |
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership at ADAP | Not disclosed for Hill in the 2025 DEF 14A; he was engaged after the April 2025 record date |
| Options/RSUs | Not eligible under consultancy |
| Hedging/pledging | Company policy prohibits hedging and pledging of Company stock |
| Ownership guidelines | Not disclosed |
Employment Terms
| Term / Provision | Details |
|---|---|
| Term | Agreement continues until December 31, 2026 (Initial Term) |
| Start date | Sep 10, 2025 |
| Duties | CFO responsible for accounting/finance; represents accounting internally/externally; liaises with independent auditors on Form 10-Q/10-K; broader strategic and corporate service scope per SOW |
| Termination | For curable material breach: 30 days’ written notice; if not curable: immediate; insolvency-related: 7 days’ notice; ordinary termination otherwise per Initial Term/SOW |
| Governing law / jurisdiction | Laws of England; exclusive jurisdiction of English courts |
| Work location/travel | Primarily from consultant’s office/remote; travel to ADAP office or other locations reimbursed; travel >£1,000 requires prior approval |
| Equipment/security | May receive company equipment; must comply with information security/usage policies; report security risks |
| Confidentiality/IP | Strict confidentiality; IP created in services assigned to Adaptimmune |
| Data protection | Detailed data processing terms; Adaptimmune as Controller, Consultant as Processor |
| Related party transactions | Company states no reportable Item 404(a) transactions with Hill |
| Clawback framework | Company adopted executive incentive compensation clawback policy in 2023 (Nasdaq/SEC rules); Hill currently has no incentive pay under consultancy |
Compensation Structure Analysis
- The CFO engagement is pay-per-day with a six-month minimum (3 days/week), a documented cap (£500k without further authorization), and no bonus or equity eligibility, signaling a near-term cost-controlled, non-dilutive arrangement aligned with ongoing restructuring.
- Independent contractor status (no pension/perqs) and lack of equity grants mean limited insider selling pressure and minimal dilution but also weaker long-term pay-for-performance alignment versus equity-linked packages.
Performance & Track Record
- Oxford Pharmascience Group Plc: Led finance/legal/HR and AIM/regulatory reporting; executed demerger and spun out operations to Abaco Capital (AIM: ABAA) and Oxford Pharmascience Limited.
- Luke Hughes & Company: Oversaw a corporate restructure.
Risk Indicators & Red Flags
- Structure reduces severance/legacy benefit obligations (contractor status) and eliminates option repricing risk (no options); insider trading policy restricts hedging/pledging.
- Agreement contains robust confidentiality/IP and data-processing controls; English law jurisdiction. – –
Investment Implications
- Near-term CFO continuity with flexible cost controls: The consultancy model (guaranteed initial weekly cadence, capped fees, no bonus/equity) reduces cash/dilution risk during restructuring and potential strategic actions (e.g., delisting/transactions referenced in SOW scope).
- Alignment trade-off: Absence of bonus/equity lessens long-term shareholder alignment but also curbs selling pressure and compensation volatility—appropriate for a transitional mandate focused on filings, audits, and corporate actions.
- Retention dynamics: Fixed Initial Term through 2026 with defined termination provisions offers stability for execution of finance, audit, and reporting deliverables while preserving ADAP’s optionality.