Young T. Kwon
About Young T. Kwon
Independent director of ADMA since 2021; age 53. He chairs both the Audit Committee (audit committee financial expert) and the Compensation Committee, and is deemed independent under Nasdaq standards . Education: B.S. in Biology (MIT) and Ph.D. in Biological Chemistry & Molecular Pharmacology (Harvard) . Prior roles span CEO at Alchemab Therapeutics (Apr 2022–Sep 2024) and senior leadership at Momenta Pharmaceuticals, including CFO/Business Officer leading ~$500M in equity financings and the $6.5B sale to Johnson & Johnson .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alchemab Therapeutics | Chief Executive Officer | Apr 2022 – Sep 2024 | Led biotech focused on protective antibodies in neurodegeneration and oncology |
| Momenta Pharmaceuticals | Chief Financial and Business Officer; senior executive roles | Jan 2011 – Jan 2021 | Led strategy, BD, finance, IR, commercial; ~$500M equity raised; sale to J&J for $6.5B |
| Biogen | Business development | Not disclosed | Executed a variety of transactions |
| Advanced Technology Ventures | Venture investor | Not disclosed | Early-stage biotech/medtech investments |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Lightstone Ventures | Advisor | “Recently” (not dated) | VC investing in biotech and medical devices |
Board Governance
- Independence: Board determined Kwon is independent under Nasdaq rules .
- Committees and leadership:
- Audit Committee Chair; designated “audit committee financial expert” .
- Compensation Committee Chair .
- Engagement and attendance: Board met 5 times in 2024; no incumbent director attended fewer than 75% of Board and relevant committee meetings in 2024 . Audit Committee held 6 meetings; Compensation Committee held 7 meetings in 2024, indicating active oversight cadence during his chairmanship .
- Risk oversight and auditor transition: Audit Committee oversees risk and internal controls; in 2024 BDO was retained as SOX advisor . CohnReznick resigned Nov 7, 2024; KPMG engaged effective Oct 31, 2024 and audited FY2024; the Board/Audit Committee reported no disagreements or reportable events with the prior auditor .
- Say‑on‑Pay signal: 2025 advisory vote passed (For: 161,456,980; Against: 19,869,072; Abstain: 266,852; Broker non‑votes: 23,427,635) — a supportive signal for committee’s pay oversight .
Fixed Compensation (Director)
| Component | Amount/Policy | Source |
|---|---|---|
| 2024 Cash fees (Kwon) | $78,841 | |
| 2024 Program (cash retainers) | Annual director retainer $50,000; Chair adders: Audit $22,250, Compensation $16,500, Governance $11,000; Committee member retainers: Audit $11,125, Compensation $8,250, Governance $5,500 | |
| 2025 Updated committee retainers | Audit Chair $25,000 / Member $12,500; Compensation Chair $20,000 / Member $10,000; Governance Chair $12,500 / Member $6,250 (effective Jan 1, 2025) |
Performance Compensation (Director)
| Award | Grant details | Vesting | 2024 Value |
|---|---|---|---|
| RSUs (2024) | 24,040 RSUs (all non‑employee directors) | 50% at 6 months and 50% at 12 months from 2/26/2024 grant | $129,816 |
| Stock options (2024) | 37,541 options @ $5.40 (2/26/2024) | Monthly over 12 months; term to 2/26/2034 | $124,583 |
Notes:
- No performance‑vesting equity metrics are disclosed for directors; grants are time‑based (RSUs and options) .
- Policy update: beginning 2/19/2025, non‑employee directors receive annual equity equal to $350,000 LTI value, 50% RSUs / 50% options, timed with executive grants .
Other Directorships & Interlocks
| Item | Status |
|---|---|
| Current public company directorships (besides ADMA) | None disclosed in the proxy biographies |
| Compensation Committee interlocks | None in 2024; committee chaired by Kwon |
Expertise & Qualifications
- Financial, strategic, and transaction expertise: audit committee financial expert; led financings (~$500M) and a $6.5B sale at Momenta .
- Operating leadership: former biotech CEO (Alchemab) and senior commercial/strategy roles .
- Education: MIT (B.S. Biology), Harvard (Ph.D. Biological Chemistry & Molecular Pharmacology) .
- Independence affirmed by Board .
Equity Ownership (Alignment)
| Holder | Total beneficial ownership | Components/footnotes |
|---|---|---|
| Young T. Kwon, PhD | 481,353 shares (<1%) | Includes options to purchase 239,912 shares exercisable within 60 days and 241,441 shares held directly; excludes 12,210 options and 10,889 RSUs not vesting within 60 days of 3/31/2025 |
Additional alignment policies and practices:
- Insider Trading Policy (effective Sep 2024) prohibits transactions in derivatives and hedging transactions (e.g., collars, forward sale contracts) and short sales for directors and employees .
- Beneficial ownership table discloses share pledging by the CEO (not by Kwon); no pledging disclosed for Kwon .
Insider Trades (Form 4) and Section 16 Compliance
| Item | Status |
|---|---|
| Section 16(a) compliance (2024) | Company reported late filings for Adam S. Grossman and Brian Lenz; no delinquency noted for Kwon |
| Recent Form 4 transactions | Retrieval attempt via insider‑trades tool failed (API unauthorized). No trades for Kwon were summarized in the 2024 or 2025 proxy beyond beneficial ownership. Will refresh upon request with updated access. |
Related‑Party Exposure (Conflicts)
- Related‑party arrangements disclosed involve entities controlled by Dr. Jerrold B. Grossman and Adam S. Grossman (Areth shared services; GenesisBPS equipment purchases); no transactions disclosed involving Kwon .
- Nominating rights: Aisling Capital and Hariden, LLC each entitled to designate one director nominee; Kwon is not a designee under these rights .
Governance Assessment
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Strengths:
- Dual chair roles (Audit and Compensation) with “financial expert” designation concentrate seasoned oversight of financial reporting, risk, and pay—reinforced by active meeting cadence (Audit 6; Comp 7 in 2024) .
- Clean Section 16 record for Kwon; beneficial ownership with meaningful direct and option holdings; no pledging disclosed for Kwon .
- Shareholder support: Strong 2025 Say‑on‑Pay approval (161.5M For vs 19.9M Against) under his Compensation Committee leadership .
- Adoption of Dodd‑Frank/Nasdaq‑compliant clawback policy (Dec 1, 2023) supports pay‑for‑performance accountability .
-
Watch items:
- Concentration of key committee chair roles (Audit and Compensation) in a single independent director may raise workload and independence optics; boards often separate these roles for checks and balances (fact: Kwon chairs both) .
- Auditor resignation (CohnReznick) and transition to KPMG in late 2024 warrants continued Audit Committee vigilance despite disclosure of no disagreements/reportable events .
- Board‑level related‑party dealings with entities related to founders/management (Areth/Genesis) require ongoing independent oversight; no Kwon involvement disclosed .
Overall, Kwon brings deep financial and strategic credentials, high committee engagement, and independent standing, with investor‑friendly signals in Say‑on‑Pay outcomes and clawback adoption. Continued attention to role concentration and related‑party oversight is advisable given the company’s governance profile .