Chad Oh
About Chad Oh
Chad Oh, M.D., age 67, is AEON’s Chief Medical Officer (CMO) and has served in this role since June 2021 . He is board‑certified in Allergy & Immunology and Pediatrics, previously served as Chief of Allergy & Immunology at UCLA‑Harbor Medical Center (1995–2008), and held multiple clinical development leadership roles across biotech/pharma including Revance Therapeutics (VP, Clinical Development) and Propharma Group (VP) . Dr. Oh’s background includes responsibility for multiple IND, NDA, and BLA submissions and he is identified as a key architect of AEON’s biosimilar regulatory and analytical plan for ABP‑450 . Education: M.D. (Kyung‑Hee University, Seoul, Korea); neurology research fellowship (Northwestern University), pediatrics residency (Rush‑Presbyterian‑St Luke’s, Chicago), allergy & immunology fellowship (NIAID, NIH) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| AEON Biopharma | Chief Medical Officer | Jun 2021–present | Key architect of biosimilar regulatory/analytical plan for ABP‑450; 20+ years clinical development leadership |
| Propharma Group | Vice President | Aug 2018–Jun 2021 | Clinical and regulatory programs support |
| Revance Therapeutics | VP, Clinical Development | Jan 2017–Jan 2018 | Therapeutic toxin development experience (Daxxify®) |
| Various biotech/pharma | Medical/Clinical leadership roles | 2008–2017 | Clinical development across autoimmune, respiratory, CNS, oncology, rare diseases |
| UCLA‑Harbor Medical Center | Chief of Allergy & Immunology | 1995–2008 | Academic/clinical leadership; numerous publications |
External Roles
- No public company directorships or committee roles for Dr. Oh are disclosed in AEON’s 2025 proxy; executive officer bio provided without external board roles .
Fixed Compensation
| Year | Base salary ($) | Target bonus (% of salary) | Actual cash bonus ($) |
|---|---|---|---|
| 2024 | 425,000 | 40% | 42,500 |
| 2023 | 425,000 | 40% | 136,000 |
Notes:
- Annual bonuses are discretionary and based on Board assessment of KPIs (corporate development, operational milestones, financing, budget metrics, product development), not formulaic weightings .
Performance Compensation
Annual and Retention Equity Granted in 2024 (time‑based)
| Grant date | Instrument | Quantity | Exercise price ($/sh) | Vesting schedule |
|---|---|---|---|---|
| Mar 19, 2024 | Stock options | 1,205 | 1,036.80 | 25% on each of the first 4 anniversaries, service‑based |
| Aug 31, 2024 | RSUs | 2,669 | — | 100% cliff on 2nd anniversary, service‑based |
| Aug 31, 2024 | Stock options | 7,121 | 59.76 | Equal monthly installments over 18 months, service‑based |
Additional outstanding legacy awards (time‑based):
| Grant date | Instrument | Exercisable | Unexercisable | Exercise price ($/sh) | Vesting notes |
|---|---|---|---|---|---|
| Aug 23, 2021 | Options | 1,517 | 506 | 720.00 | 25% per anniversary over 4 years |
| Mar 9, 2022 | Options | 800 | 800 | 720.00 | 25% per anniversary over 4 years |
| Apr 26, 2023 | RSUs (unvested) | — | 1,047 | — | 25% per anniversary over 4 years |
Equity value recognition (grant‑date fair value under ASC 718):
- 2024 stock awards: $160,226; 2024 option awards: $1,674,287 .
- Company has a Dodd‑Frank compliant clawback policy covering Section 16 officers (including time‑ or performance‑vesting equity) .
Annual Cash Bonus Framework (qualitative disclosure)
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate development, operational milestones, financing, budget, product development | Not disclosed | Not disclosed | Not disclosed (individual assessment) | 2024: $42,500 | N/A (cash) |
Equity Ownership & Alignment
Beneficial Ownership (as of Apr 21, 2025)
| Holder | Total beneficial shares | Ownership % | Composition detail |
|---|---|---|---|
| Chad Oh, M.D. | 7,781 | <1% | 349 shares held; 348 RSUs vesting within 60 days; 7,084 options exercisable within 60 days |
Policies and alignment:
- Insider trading policy prohibits hedging transactions in company equity for officers/directors; no hedging allowed (e.g., swaps, collars, exchange funds) .
- Corporate Governance Guidelines include stock ownership as a topic; specific executive ownership multiples not disclosed in the proxy .
Vesting and potential selling pressure indicators (time‑based):
- 18‑month monthly‑vesting options from Aug 31, 2024 can create steady incremental vesting through the schedule; the 2‑year cliff RSUs (granted Aug 31, 2024) concentrate a single vesting event on the second anniversary, subject to continued service .
Employment Terms
| Element | Key terms |
|---|---|
| Base salary | $425,000 per year |
| Target annual bonus | 40% of base salary, discretionary and goal‑based |
| Severance (non‑CIC) | If terminated without Cause or resigns for Good Reason: 6 months’ base salary, 50% of target annual bonus, and 6 months’ company‑paid health coverage; subject to release and covenants |
| Severance (Change‑in‑Control – double trigger) | If qualifying termination within 2 months prior to or 12 months after a CIC: 12 months’ base salary (lump sum if termination on/within 12 months after CIC), 100% of target annual bonus, and 12 months’ company‑paid health coverage |
| 280G treatment | “Best‑pay‑cut” (pay in full or cut to avoid excise tax, whichever better after‑tax) |
| Restrictive covenants | Two‑year post‑termination non‑solicitation; confidentiality/IP provisions |
| Clawback | Company‑wide clawback policy compliant with SEC/NYSE American; applies to Section 16 officers |
| Anti‑hedging | Hedging of company securities prohibited for officers/directors |
Compensation Structure Analysis
- 2024 included one‑time retention equity (RSUs with 2‑year cliff and options with 18‑month monthly vesting), increasing near‑term time‑based equity and emphasizing retention amid strategy transition .
- Cash compensation remained modest relative to equity (2024 base $425k; bonus $42.5k) with discretionary KPIs; limited formulaic disclosure of metrics/weightings constrains pay‑for‑performance transparency .
- No tax gross‑ups; standard U.S. benefits; 401(k) with no company match; supports governance best practices and cost control .
- Clawback policy in place and administered by the Compensation Committee, aligning with regulatory standards .
Related Party Transactions and Governance
- No related person transactions involving Dr. Oh are listed; 2024–2025 related party disclosures center on Daewoong’s secured convertible notes and a board designee arrangement, not tied to Dr. Oh .
- Compensation Committee comprised of independent directors; the company did not retain an external compensation consultant in 2024 to conserve funds .
Performance & Track Record
- Role‑relevant contributions include leadership over clinical/regulatory strategy with prior responsibility for multiple IND/NDA/BLA submissions; positioned as key contributor to AEON’s ABP‑450 biosimilar regulatory pathway .
- Company‑level TSR/revenue/EBITDA growth attribution to Dr. Oh is not disclosed; annual bonus framework is qualitative and discretionary rather than metric‑weighted .
Investment Implications
- Retention risk appears mitigated near term by substantial time‑based equity from August 2024 (18‑month monthly‑vesting options plus 2‑year cliff RSUs), creating consistent vesting and a concentrated vest in year two; this may introduce episodic selling supply around vesting dates absent 10b5‑1 plans .
- Cash severance/change‑in‑control terms are moderate (6–12 months salary and 50–100% of target bonus), consistent with small‑cap biotech norms; double‑trigger CIC mitigates windfall risk while preserving retention through transactions .
- Alignment: Dr. Oh holds options and RSUs alongside direct shares; beneficial ownership is below 1% of outstanding shares, but clawback and anti‑hedging policies reinforce alignment and governance discipline .
- Transparency: Limited disclosure of bonus metric weightings/targets constrains pay‑for‑performance assessment; monitoring future proxies for metric rigor and any use of performance‑vesting equity (PSUs) is warranted .