Scott Gangloff
About Scott Gangloff
Scott Gangloff is Akero Therapeutics’ Chief Technology Officer, appointed in April 2024; he is 51 and holds an ME in Chemical Engineering from Lehigh University . His background spans bioprocess development and commercial-scale manufacturing leadership at Bristol Myers Squibb, Outlook Therapeutics (formerly Oncobiologics), and Incyte, aligning closely with Akero’s Phase 3 manufacturing scale-up and Process Performance Qualification objectives . Company performance during 2024–2025 included completing Phase 3 SYNCHRONY site activation/enrollment, delivering key Phase 2b readouts, and raising ~$367M in Mar-2024 and ~$403M in Jan-2025; Akero’s 2024 TSR was 107.83 and 2024 net loss was $252.1M, consistent with its R&D-stage model .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Incyte Corporation | Vice President, Global Biopharmaceutical Development | Oct 2017 – Apr 2024 | Led global biopharma development; advanced late-stage process development aligned to commercial readiness . |
| Outlook Therapeutics (formerly Oncobiologics) | Head of Process Development and Manufacturing | May 2011 – Oct 2017 | Helped start the company; built end-to-end process development and manufacturing capabilities . |
| Bristol Myers Squibb | Bioprocess development/manufacturing roles of increasing responsibility | Jul 1998 – May 2011 | Scaled bioprocess and manufacturing operations across modalities . |
External Roles
No external board or director roles disclosed in the proxy for Mr. Gangloff .
Fixed Compensation
| Metric | 2024 | Notes |
|---|---|---|
| Base Salary (annual rate) | $465,000 | Effective Jan 1, 2024; began employment Apr 2024 . |
| Salary Earned (partial year) | $313,577 | Reflects service from Apr 2024 start date . |
| Target Bonus (%) | 45% | Maintained for 2024 . |
| Actual Bonus Paid | $140,643 (100% of prorated target) | Company achieved 100% of corporate goals; prorated for start date . |
Performance Compensation
| Component | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Incentive (2024) | Corporate operational goals (Phase 3 SYNCHRONY site activation/enrollment, FDA alignment; Phase 2b readouts; PPQ progress; capital raising) | Goals for SYNCHRONY activation/enrollment/FDA alignment comprised nearly half of overall weighting | Base goals = 100% of target; stretch goals up to +50% | Achieved 100% of corporate goals | 100% of prorated target ($140,643) | Cash bonus; paid Dec 2024 . |
| Long-Term Equity (Dec 16, 2024) | Time-based stock options | N/A | 73,700 options | Grant-date FV: $1,617,885 | N/A | Vest monthly over 48 months from Dec 16, 2024; strike $29.23; expires 12/16/2034 . |
| Long-Term Equity (Dec 16, 2024) | Time-based RSUs | N/A | 24,300 RSUs | Grant-date FV: $710,289 | N/A | Vest in eight equal semi-annual installments over 4 years from Dec 16, 2024 . |
| New-Hire Equity (Apr 29, 2024) | Time-based stock options | N/A | 225,000 options | Grant-date FV: $3,329,663 | N/A | 25% vests Apr 29, 2025; remaining 75% vests in 36 equal monthly installments thereafter; strike $19.62 . |
2024 Say-on-Pay approval was ~95%, and the company maintained its pay program structure, targeting market-competitive, performance-based compensation .
Equity Ownership & Alignment
| Category | Detail | As of | Amount |
|---|---|---|---|
| Beneficial Ownership (SEC) | Options exercisable within 60 days | Apr 10, 2025 | 68,614 shares . |
| Shares Outstanding (reference) | Common shares | Apr 10, 2025 | 79,679,222 . |
| Ownership % of Outstanding | Derived from above | Apr 10, 2025 | 0.086% (68,614 / 79,679,222) . |
| Options – Unexercisable | New-hire grant | Dec 31, 2024 | 225,000 unexercisable . |
| Options – Unexercisable | Annual grant (Dec 2024) | Dec 31, 2024 | 73,700 unexercisable . |
| RSUs – Unvested | Annual grant (Dec 2024) | Dec 31, 2024 | 24,300 unvested; market value $676,026 at $27.82 . |
| Hedging/Pledging | Prohibited; no approvals sought by NEOs | Policy as of proxy date | None . |
| Clawback | SEC/Nasdaq-compliant; restatement-triggered recovery of incentive comp | Effective Sep 13, 2023 | In place . |
| Insider Exercises/Vesting in 2024 | Options exercised; RSUs vested | FY 2024 | None for Mr. Gangloff . |
Vesting schedules and potential supply:
- 225,000 options: 25% vest on Apr 29, 2025; remaining 75% vest monthly over the subsequent 36 months, creating ongoing incremental option availability that may translate into selling pressure once vested/exercised .
- 73,700 options (Dec 2024): vest monthly over 48 months from Dec 16, 2024 .
- 24,300 RSUs (Dec 2024): semi-annual vesting over 4 years, contributing to periodic share releases .
Employment Terms
| Scenario | Cash Severance | Bonus | COBRA Premiums | Equity Acceleration | Notes |
|---|---|---|---|---|---|
| Termination by Company without Cause or Resignation for Good Reason (not in connection with CoC) | $357,750 (9 months base) | — | $41,593 (9 months) | — | At-will; standard severance per IPO-era agreements, with Mr. Gangloff’s agreement executed at hire in Apr 2024 . |
| Termination without Cause or Resignation for Good Reason within 12 months after Change in Control (double-trigger) | $477,000 (12 months base) | $214,650 (100% of target bonus) | $83,185 (18 months) | $2,521,026 (full acceleration of time-based, in-the-money options and 100% of unvested stock awards) | Double-trigger: termination within 12 months of CoC required; no tax gross-ups; Section 280G/4999 applies without gross-up . |
Additional governance and policy notes:
- Insider Trading Policy prohibits short sales, derivatives, margin use, and pledging; robust grant timing governance and at-market option pricing are enforced to avoid opportunistic timing .
- No supplemental executive retirement plans, no excessive perquisites, and no change-in-control tax gross-ups; market-competitive benefits apply uniformly .
Investment Implications
- Alignment and retention: Compensation skewed to equity with time-based vesting creates strong retention incentives; double-trigger CoC protection balances stability with shareholder alignment (no single-trigger windfalls) .
- Near-term supply dynamics: The Apr 29, 2025 cliff vest (25% of new-hire options) and ongoing monthly/sem i-annual vesting thereafter introduce periodic unlocks that may generate selling pressure if options are exercised and RSUs delivered; no 2024 exercises mitigate historic overhang .
- Governance risk mitigants: Hedging/pledging prohibitions, SEC/Nasdaq clawback policy, and consistent grant timing discipline reduce misalignment and opportunism risk; absence of tax gross-ups is shareholder-friendly .
- Execution linkage: 2024 bonus metrics were operational (Phase 3 activation/enrollment, FDA alignment, PPQ, readouts, and capital raises); 100% goal attainment and subsequent financings point to execution momentum in CT/CMO scale-up that aligns with Mr. Gangloff’s manufacturing/process expertise .
Say-on-Pay support (~95%) and peer benchmarking indicate investor acceptance of pay design; continued monitoring of Form 4 activity post-Apr 2025 vest date and RSU delivery cadence is recommended to gauge insider selling pressure .