Mark Altmeyer
AlectorAbout Mark Altmeyer
Independent director at Alector since March 2024 (age 64), with an MBA from Harvard Business School and a BA in Economics from Middlebury College. He is a seasoned biopharma operator and board member, having led commercial organizations and executed EU product approvals; currently serves on multiple healthcare boards and will chair Alector’s Audit Committee following the 2025 annual meeting .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Arvelle Therapeutics B.V. | Founder, President & CEO | Feb 2019 – Feb 2021 | Led EMA approval of lead product and prepared for EU launch; company acquired by Angelini Pharma |
| Axovant Sciences | President & Chief Commercial Officer | Not disclosed | Established global commercial capabilities; pre-launch prep for pipeline products |
| Otsuka America Pharmaceutical Inc. | President & CEO | Not disclosed | Transformed commercial org; doubled revenues over five years |
| Bristol-Myers Squibb; Cetus Corporation | Senior commercial/general management roles | Not disclosed | Commercial leadership roles |
External Roles
| Organization | Role | Status | Committees/Notes |
|---|---|---|---|
| Novaremed A.G. | Director | Current | Board service |
| Aculys Pharma, Inc. | Director | Current | Board service |
| Merz Holdings Therapeutics | Director | Current | Board service |
| AM-Pharma B.V. | Chairman | Current | Chair of the board |
| Calluna Pharma | Chairman | Current | Chair of the board |
| Clarion Healthcare, Inc. | Director | Mar 2021 – Oct 2022 | Prior public/healthcare board |
| Myovant Sciences, Inc. | Director | Sep 2016 – Dec 2018 | Prior public biopharma board |
| Arvelle Therapeutics B.V. | Director | Feb 2019 – Feb 2021 | Prior private biopharma board |
Board Governance
- Independence: Determined independent under Nasdaq rules (no relationships impairing judgment) .
- Committees: Audit Committee member and Corporate Governance & Nominating Committee member .
- Chair roles: Will become Audit Committee Chair immediately following the June 11, 2025 annual meeting (succeeding David Wehner) .
- Attendance: Board held 7 meetings in 2024; all directors attended ≥75% of board and applicable committee meetings; independent director executive sessions occur after each regular board meeting .
- Risk oversight: Audit oversees financial reporting, ERM, cybersecurity, conflicts, and related-party transactions; Governance oversees board independence; Compensation oversees pay-related risk .
Fixed Compensation
| Component | Amount | Period/Notes |
|---|---|---|
| Cash fees (Director + committee) | $47,000 | FY 2024 non-employee director cash compensation |
| Outside Director Cash Policy – Board retainer | $45,000/year | Non-employee director annual retainer |
| Outside Director Cash Policy – Non-exec Chair | $30,000/year | Additional retainer for board chair (not applicable to Altmeyer) |
| Outside Director Cash Policy – Audit Chair | $20,000/year | Applies once he assumes Audit Chair after 2025 annual meeting |
| Outside Director Cash Policy – Audit member | $10,000/year | Committee member fee (chair receives chair fee only) |
| Governance & Nominating Chair | $10,000/year | Chair fee (member $5,000/year) |
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Grant-Date Fair Value ($) | Vesting Terms | Key Dates |
|---|---|---|---|---|---|
| Initial RSU | 3/19/2024 | 34,375 | $255,750 | 1/12 per quarter beginning 9/1/2024; service-vesting | Quarterly on 9/1, 12/1, 3/1, 6/1 |
| Initial Stock Option (NSO) | 3/19/2024 | 19,420 | $86,343 | 1/48 monthly starting 4/19/2024; service-vesting | Exercise price $6.20; expires 3/18/2034 |
| Annual Director Equity Limits | — | — | — | Max $750,000/year (initial year limit $1,000,000) | Equity fully accelerates on change in control |
No performance conditions disclosed for director equity; awards are time-based. Single-trigger acceleration of all director equity on change of control is in the Outside Director Compensation Policy .
Other Directorships & Interlocks
| Company | Relationship to ALEC | Transactions/Interlocks Disclosed |
|---|---|---|
| Novaremed A.G.; Aculys Pharma, Inc.; Merz Holdings Therapeutics; AM-Pharma B.V.; Calluna Pharma | External boards | No related-party transactions involving Altmeyer disclosed in ALEC’s proxy |
| Clarion Healthcare, Inc.; Myovant Sciences, Inc.; Arvelle Therapeutics B.V. | Prior boards | No ALEC interlocks disclosed |
Expertise & Qualifications
- Commercial leadership across large-cap and emerging biopharma; EU approval execution; revenue scaling at Otsuka .
- Governance experience across multiple biopharma boards; prepares to chair ALEC’s Audit Committee .
- Education: MBA (Harvard), BA Economics (Middlebury) .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 15,977 | <1% of outstanding |
| Ownership % of outstanding | <1% | 99,992,600 shares outstanding as of 3/31/2025 |
| Shares owned directly | 10,313 | Common shares |
| Options exercisable within 60 days | 5,664 | Included in beneficial ownership |
| Unvested RSUs outstanding | 34,375 | Director RSUs; quarterly vesting |
| Options terms | 19,420 @ $6.20; exp. 3/18/2034 | Monthly vesting 1/48 starting 4/19/2024 |
| Hedging/Pledging | Prohibited by policy | Company insider trading policy bans hedging and pledging |
Governance Assessment
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Strengths:
- Independent director with pending Audit Committee chair role; reinforces controls, financial reporting oversight, and conflict monitoring .
- Adequate engagement: ≥75% attendance; independent director executive sessions held regularly, supporting board effectiveness .
- Compensation structure aligned with standard biotech director practices (cash retainer + time-based equity); anti-hedging/pledging policy enhances alignment .
- No related-party transactions disclosed involving Altmeyer; Audit Committee reviews and pre-approves related-party transactions under formal policy .
-
Potential red flags / watch items:
- Single-trigger acceleration of director equity upon change in control (could be perceived as less shareholder-friendly vs. double trigger) .
- Small personal ownership (<1%); while typical for directors, limited “skin in the game” vs. executives—monitor future equity holdings and guideline adoption (no director ownership guideline disclosed) .
- Multiple concurrent external board commitments; continue to monitor attendance and committee workload as he assumes Audit Chair responsibilities (attendance threshold met in 2024) .
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Signals to investors:
- Elevation to Audit Chair post-annual meeting suggests board confidence in his governance acumen and may strengthen financial oversight and conflict review—a positive for investor confidence .
- Balanced director pay with meaningful RSU grant promotes alignment; anti-hedging/pledging policy reduces misalignment risk .