Paula Hammond
AlectorAbout Paula Hammond
Paula T. Hammond, Ph.D., age 61, has served as an independent Class I director of Alector since March 2020; she is Institute Professor and Vice Provost for Faculty at MIT, and formerly headed MIT’s Department of Chemical Engineering (2015–2023). Her credentials include election to the National Academies of Science (2019), Engineering (2017), and Medicine (2016), with research leadership in targeted nanoparticle drug/gene delivery and biomedical thin-film coatings. She holds an S.B. and Ph.D. in Chemical Engineering from MIT and an M.S. in Chemical Engineering from Georgia Tech .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MIT Department of Chemical Engineering | Department Head | 2015–2023 | Led departmental strategy; recognized for advances in nanoparticle drug delivery and biomaterials . |
| MIT (School of Engineering) | Faculty member | Since 1995 | Research on electrostatic polymers for targeted drug/gene delivery; bone regeneration/wound healing thin films . |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| MIT (Institute Professor; Vice Provost for Faculty) | Senior academic leadership | Academic | Current leadership position at MIT . |
| MIT Koch Institute for Integrative Cancer Research | Member | Academic | Cancer research affiliation . |
| MIT Institute for Soldier Nanotechnology | Founding member | Academic | Founding member; nanotechnology applications . |
| Sail Biomedicines, Inc. (formerly Senda Biosciences, Inc.) | Director | Private | Board service disclosed; not a public company in filing . |
| The Engine (MIT Engine) | Director | Private | Board service disclosed . |
| Moderna, Inc. | Scientific Advisory Board member | Public | SAB role; not a corporate director . |
| LayerBio, Inc. | Co-founder; Scientific Advisory Board | Private | Founder/SAB role . |
| Catalio Capital Management | Advisor | Private | Advisor role . |
| U.S. President’s Council of Advisors on Science and Technology (PCAST) | Member | Governmental advisory | Selected in 2021 . |
Board Governance
- Independence: The Board determined Hammond is independent under Nasdaq rules; Alector’s Board has a majority of independent directors .
- Committees: Member, People, Culture, and Compensation Committee; Member, Corporate Governance and Nominating Committee. She is not a chair (chairs: Compensation—Dr. Garofalo; Governance—Dr. Yaffe) .
- Attendance and engagement: In 2024, all directors attended at least 75% of Board and applicable committee meetings; the Board held seven meetings, with executive sessions of independent directors typically after each regular Board meeting .
- Leadership: Board chaired by independent director Louis J. Lavigne, Jr.; therefore, no Lead Independent Director is designated .
| Committee | Hammond Role | Meetings in 2024 | Key Oversight Areas |
|---|---|---|---|
| People, Culture, and Compensation | Member | 7 | Executive/director pay, equity plans, succession, engagement . |
| Corporate Governance and Nominating | Member | 4 | Board composition, governance practices, evaluations, ESG oversight . |
Fixed Compensation (Director)
| Component (2024) | Amount (USD) | Notes |
|---|---|---|
| Cash Fees | $57,500 | Reported total cash fees for Hammond in 2024 . |
| Policy Benchmark (cash) | $45,000 director retainer; $7,500 Compensation Committee member; $5,000 Governance Committee member | Schedule under Outside Director Cash Compensation; her memberships align with $57,500 total . |
Performance Compensation (Director)
| Equity Component (2024) | Grant | Units / Value | Vesting | Notes |
|---|---|---|---|---|
| Annual RSU Award | 6/12/2024 | 35,000 RSUs; grant-date fair value included in $164,500 stock awards total | Vests on earlier of one-year anniversary or next annual meeting | RSU vesting under Outside Director policy . |
| Option Awards | — | $0 | — | No option grant to Hammond in 2024 per director comp table . |
Director equity awards are time-based under the Outside Director Compensation Policy; no performance metrics apply to director awards .
Additional Outstanding Awards (as of 12/31/2024):
- Options: 29,443 (3/20/2020, $29.31); 25,709 (6/17/2021, $21.37); 18,918 (6/16/2022, $8.07); 12,360 (6/14/2023, $7.71) .
- RSUs: 35,000 unvested (6/12/2024 annual award) .
- Vesting schedules: Options generally monthly with full vest by one year/next annual meeting; RSUs vest at one year or next annual meeting; older option grant (3/20/2020) vested 25% at one year, then monthly .
Change-in-control treatment: All director equity awards fully vest upon a change in control under the policy .
Other Directorships & Interlocks
- Compensation Committee Interlocks: In 2024 the Compensation Committee comprised Drs. Garofalo, Lavigne, Hammond, and (from March 20, 2024) Dr. De Souza; none were officers or employees, and no interlocks with other issuers’ executive officers were disclosed .
- Related-party transactions: No related-party transactions involving Hammond were disclosed; the only director-related consulting arrangements disclosed were with Dr. Richard Scheller .
Expertise & Qualifications
- Technical expertise: Internationally recognized expert in chemical engineering; research in polymer systems for targeted nanoparticles and biomedical thin films .
- Honors: Elected to NAS (2019), NAE (2017), NAM (2016); Franklin Institute Benjamin Franklin Medal in Chemistry; Margaret H. Rousseau Pioneer Award; member of American Academy of Arts & Sciences and National Academy of Inventors .
- Education: S.B. and Ph.D. (MIT); M.S. (Georgia Tech) .
- Policy expertise: Member of PCAST (2021), advising on national science/technology policy .
Equity Ownership
| Measure | Amount | As-of | Notes |
|---|---|---|---|
| Total beneficial ownership | 111,639 shares; <1% | 3/31/2025 | As reported in beneficial ownership table . |
| Direct common shares | 25,209 | 3/31/2025 | Direct holdings . |
| Options exercisable within 60 days | 86,430 | 3/31/2025 | Included in beneficial ownership under SEC rules . |
| Unvested RSUs | 35,000 | 12/31/2024 | Annual RSU award (2024) . |
| Shares outstanding (reference) | 99,992,600 | 4/15/2025 | Record date shares outstanding . |
| Hedging/Pledging | Prohibited | Policy | Company prohibits hedging and pledging by directors and employees . |
Governance Assessment
- Independence and committee breadth: Hammond is an independent director serving on two core committees (Compensation; Governance & Nominating), supporting board effectiveness in pay oversight, succession, and ESG/governance .
- Attendance and oversight cadence: Board met seven times in 2024, with independent director executive sessions typically after each meeting; all directors met at least 75% attendance, indicating baseline engagement .
- Compensation alignment: Director pay mix combines modest cash retainers and annual RSUs consistent with peer-benchmarked policy; Hammond’s 2024 cash fees ($57,500) and equity ($164,500) align with committee memberships and the Outside Director Compensation Policy .
- Ownership and alignment: Hammond holds 111,639 shares (<1%), including 86,430 options exercisable within 60 days; anti-hedging/pledging policy strengthens alignment; unvested RSUs provide continuing stake .
- Shareholder signals: 2024 say‑on‑pay received ~98% support, reflecting favorable investor sentiment toward compensation governance (contextual signal for board oversight quality) .
- Conflicts and red flags: No related‑party transactions disclosed for Hammond; Section 16(a) filings were timely except for a single late filing by another director (Dr. Scheller), limiting conflict concerns; note that all director equity awards accelerate on change in control, a common feature but one that some investors monitor for potential misalignment .
Overall, Hammond’s profile reflects deep technical and academic leadership, active service on key governance and compensation committees, independence, and baseline attendance, with compensation and ownership structures generally aligned with investor expectations and company policy .