Jonathan Young
About Jonathan Young
Jonathan Young, J.D., Ph.D., is Akero’s co-founder and Chief Operating Officer and Secretary, serving in this role since September 2018; he previously served as co-founder, President and CEO from April 2017 to September 2018. He is 55 years old and holds a B.A. in history (Messiah College), an M.A. and Ph.D. in American history (University of North Carolina at Chapel Hill), and a J.D. (Yale Law School) . Akero’s pay-versus-performance disclosures reflect biotechnology-typical operational focus: total shareholder return measured on a $100 basis was $81.98 (2021), $212.40 (2022), $90.50 (2023), and $107.83 (2024), while the Company reported net losses each year and does not use revenue/EBITDA targets in executive pay design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Akero Therapeutics, Inc. | Co-founder, President & CEO | Apr 2017 – Sep 2018 | Not disclosed |
| Apple Tree Partners | Venture Partner | Oct 2016 – Sep 2018 | Not disclosed |
| Braeburn Pharmaceuticals, Inc. | Vice President, Policy/Advocacy & General Counsel | Aug 2014 – Oct 2016 | Not disclosed |
| FoxKiser LLP | Positions of increasing responsibility; ultimately Partner & General Counsel | Oct 2006 – Aug 2014 | Not disclosed |
External Roles
| Organization | Role | Years |
|---|---|---|
| MedStar Health Research Institute | Vice Chair of the Board | Current |
Fixed Compensation
Multi-year cash compensation and bonus paid:
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $449,000 | $471,000 | $490,000 |
| Cash Incentive Paid ($) | $314,300 | $201,353 | $220,500 |
Target bonus percentages:
| Metric | 2023 | 2024 |
|---|---|---|
| Target Bonus (%) | 45% | 45% |
2024 equity grant detail:
| Instrument | Grant Date | Amount | Exercise Price ($/sh) | Vesting |
|---|---|---|---|---|
| Stock Options | 12/16/2024 | 73,700 | $29.23 | 48 equal monthly installments over 4 years |
| RSUs | 12/16/2024 | 24,300 | N/A | 8 equal semi-annual installments over 4 years |
Performance Compensation
| Incentive | Metric (2024) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus | Corporate goals: SYNCHRONY site activation & enrollment; FDA alignment; HARMONY wk96 read-out; SYMMETRY wk96 data collection; PPQ manufacturing readiness; capital raising | SYNCHRONY site activation/enrollment comprised nearly half of base-goal weighting | Achieve base goals; evaluate stretch goals | Company achieved 100% of corporate goals | 100% of target for NEOs | N/A |
| Stock Options (2024 grant) | Time-based equity | N/A | 73,700 options | N/A | N/A | Vests monthly over 48 months |
| RSUs (2024 grant) | Time-based equity | N/A | 24,300 RSUs | N/A | N/A | Vests semi-annually over 4 years |
Insider selling/vesting activity (2024):
| Metric | 2024 |
|---|---|
| Options exercised (#) | 164,037 |
| Value realized on option exercise ($) | $3,055,220 |
| RSUs vested (#) | 12,923 |
| Value realized on RSU vesting ($) | $351,433 |
Equity Ownership & Alignment
| Item | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 556,949 | |
| Ownership as % of shares outstanding | <1% | |
| Direct shares | 135,535 | |
| Indirect trust shares | 60,000 (20,000 x 3 irrevocable trusts; spouse trustee) | |
| Options exercisable within 60 days | 361,414 | |
| Unvested RSUs | 9,598; 24,373; 24,300 | |
| Pledging/Hedging | Prohibited by policy; none sought by NEOs | |
| Ownership guidelines | Not disclosed — executive ownership multiples not specified |
Additional alignment features: ESPP access (85% of lower of start/end price per period) ; structured grant timing outside blackout/MNPI windows, strike at close on grant date .
Employment Terms
| Scenario | Cash Severance ($) | Cash Incentive Bonus ($) | COBRA Premiums ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|---|
| Termination without Cause or Resignation for Good Reason (not in connection with CIC) | $382,500 | — | $41,593 | — | $424,093 |
| Termination without Cause or Resignation for Good Reason (in connection with CIC) | $510,000 | $229,500 | $83,185 | $2,639,576 | $3,462,261 |
- Change-in-control economics: double-trigger acceleration of all time-based equity awards if termination without Cause or resignation for Good Reason occurs within 12 months following a Sale Event .
- Standard severance provisions for NEOs: 9 months base salary and 9 months health continuation outside CIC; 12 months base salary plus 1x target bonus, and up to 18 months health continuation with CIC termination .
- Clawback: SEC/Nasdaq-compliant compensation recovery policy adopted Sept 13, 2023 (recovery of incentive comp based on restated financial measures within 3 years) .
- Hedging/pledging: prohibited; margin use and derivatives on Akero stock prohibited; no approvals granted to NEOs .
- Tax gross-ups: none for 280G/4999 “golden parachute” taxes; no supplemental executive retirement plans .
Investment Implications
- Pay-for-performance alignment: Cash incentives are tied to operational milestones, not financial metrics, consistent with R&D-stage biotech; 2024 payout at 100% reflects strong execution against Phase 3 readiness, regulatory alignment, and capital formation . Say-on-pay support was high (~95% in 2024), indicating shareholder acceptance of the program .
- Vesting and potential selling pressure: Meaningful 2024 exercises ($3.06M realized) and ongoing time-based vesting schedules suggest periodic liquidity events; monitor Form 4s around semi-annual RSU vesting and monthly option vesting cadence .
- Retention and CIC protection: Double-trigger equity acceleration and 12 months cash plus target bonus under CIC reduce retention risk during strategic events; outside CIC, severance is moderate (9 months cash), balancing retention and shareholder protection .
- Ownership alignment and governance: Beneficial ownership includes direct holdings and trust interests with substantial near-term exercisable options; hedging/pledging prohibitions and clawback policy strengthen alignment and governance; late Form 4 in 2024 noted but subsequently filed .