Hardean Achneck
Aligos TherapeuticsAbout Hardean Achneck
Hardean E. Achneck, M.D., is Executive Vice President and Chief Medical Officer (CMO) at Aligos Therapeutics (ALGS), serving since September 2024; age 48 as of April 28, 2025. He previously led clinical development at Pliant Therapeutics (SVP, Head of Clinical Development, 2022–2024), held senior clinical roles at Dicerna (2019–2022; continued post-acquisition at Novo Nordisk’s Dicerna Transformational Research Unit), Haemonetics (2016–2019), and Hemostemix; earlier, he was Assistant Professor of Surgery and Pathology at Duke University (2010–2014) and trained in General Surgery at Duke (2005–2010). Dr. Achneck holds an M.D. and a B.A. in Molecular Biophysics & Biochemistry from Yale University; company-level executive TSR/revenue/EBITDA metrics tied specifically to his tenure are not disclosed due to Aligos’ emerging growth company status limiting compensation detail.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Pliant Therapeutics, Inc. | SVP & Head of Clinical Development | 2022–2024 | Oversaw all clinical programs across hepatic, pulmonary, immuno-oncologic, and neuromuscular indications. |
| Dicerna Pharmaceuticals, Inc. / Novo Nordisk TRU | VP Clinical Development & Clinical Research; continued post-acquisition in Novo Nordisk Dicerna TRU | 2019–2022 (Dicerna); 2021–2022 (Novo TRU) | Led clinical development; continuity through acquisition ensured program execution. |
| Haemonetics Corporation | Director, Medical Affairs & Clinical Development | 2016–2019 | Directed medical affairs and clinical development for global healthcare products. |
| Hemostemix Inc. | Vice President & Chief Medical Officer | Prior to 2016 (year not specified) | CMO leadership at a cell therapy company. |
| Duke University School of Medicine / Duke-NUS | Assistant Professor of Surgery and Pathology; co-appointment in Cardiovascular & Metabolic Disorders | 2010–2014 | Academic research and clinical leadership; foundation for translational execution. |
| Duke University (Residency) | General Surgery Training | 2005–2010 | Clinical training in surgery. |
External Roles
| Organization | Board/Committee role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships disclosed in Aligos’ proxy or 10-K. |
Fixed Compensation
| Component | Terms | Notes |
|---|---|---|
| Base salary | $495,000 per year | Set in CMO offer letter. |
| Target annual bonus | 40% of base salary | Discretionary; based on company-set performance metrics and/or individual objectives. |
| Bonus timing | Paid within 2.5 months following the year; contingent on employment through year-end | Payout at company discretion; may be zero based on attainment. |
| Benefits | Eligible for standard employee benefits (medical/dental/vision, life/disability/AD&D, 401k) | 401k employer match up to $12,000 per year is company policy; PTO accrual 13.33 hours/month plus 40 hours sick leave annually. |
Performance Compensation
Annual Cash Bonus Program
| Metric | Weighting | Target | Actual | Payout mechanics | Vesting |
|---|---|---|---|---|---|
| Corporate/individual performance goals (company-defined) | Not disclosed | 40% of base salary | Not disclosed | Discretionary; paid within 2.5 months after year-end; employment through year-end required | Cash; not subject to vesting beyond employment contingency. |
Equity Incentives (Options)
| Award type | Grant size | Exercise price | Vesting schedule | Grant source/plan | Expiration | Change-in-control treatment |
|---|---|---|---|---|---|---|
| Nonqualified stock option (NSO) | 75,000 shares (recommended; subject to Board approval) | Fair market value on grant date | 25% on first anniversary of employment start; 1/48th monthly thereafter | Inducement award under 2024 Employment Inducement Award Plan | Up to 10 years under plan terms | If successor refuses to assume/substitute, vesting accelerates in full under Inducement Plan; broader plan terms allow acceleration if awards not assumed. |
Note: Achneck signed acceptance on September 4, 2024; employment commencement anticipated on or about September 23, 2024. The option grant is “recommended” and subject to Board approval; the vesting schedule references the employment commencement date.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | Not disclosed among “Named Executive Officers and Directors” in the 2025 proxy beneficial ownership table. |
| Vested vs. unvested | Option award expected to vest 25% at first anniversary of employment commencement and monthly thereafter; actual vested quantities/dates not disclosed in filings. |
| Hedging/pledging | Company’s Insider Trading Compliance Policy prohibits short sales, options/derivatives on company stock, hedging transactions, margin purchases, and pledging of company securities. |
| Rule 10b5-1 plans | Company allows pre-approved Rule 10b5-1 trading plans with cooling-off periods (90–120 days for Section 16 officers/directors) and strict good-faith requirements. |
| Ownership guidelines | Executive stock ownership guidelines not disclosed in proxy/10-K. |
Employment Terms
| Term | Detail |
|---|---|
| Start date | Anticipated on or about September 23, 2024; acceptance signed September 4, 2024. |
| Position/reporting | EVP, Chief Medical Officer; reports to President & CEO; based in South San Francisco with travel as needed. |
| Contract type | At-will employment; company may change duties, compensation, and policies prospectively. |
| Agreements | Covered by Executive Change in Control and Severance Agreement and Indemnification Agreement; required to sign Proprietary Information and Invention Assignment Agreement. |
| Outside services | Must obtain consent before providing services to other entities while employed. |
| Severance (CIC) | Upon Covered Termination during a Change in Control Period: lump-sum severance equal to base salary + target annual bonus; company-paid/reimbursed COBRA up to first anniversary; equity acceleration and options exercisable up to 12 months per agreement. |
| Severance (non-CIC) | Equity awards accelerate to the extent they would have vested during the severance period; options remain exercisable up to 12 months; cash severance terms for non-CIC not disclosed in Achneck’s filings. |
| Clawback | Awards subject to Company’s Policy for Recovery of Erroneously Awarded Compensation consistent with SEC/Nasdaq rules. |
| Non-compete / Non-solicit | Not disclosed in Achneck’s offer letter; confidentiality/IP assignment required. |
Compensation Committee Analysis
- The Compensation Committee comprises Carole Nuechterlein (Chair), K. Peter Hirth, and Bridget Martell; all are independent and non-employee directors. The Committee retained Radford (Aon) as independent compensation consultant after formal conflicts review.
- Committee responsibilities include approving executive compensation (other than CEO, where it recommends to the Board), granting equity awards, evaluating rule compliance, and charter oversight.
Say-on-Pay & Shareholder Feedback
- As an “emerging growth company,” Aligos utilizes reduced executive compensation disclosures and is exempt from non-binding advisory votes on executive compensation (say-on-pay).
Investment Implications
- Alignment signals: Prohibitions on hedging and pledging, pre-approved Rule 10b5-1 plans with cooling-off periods, and a formal clawback policy mitigate misalignment and lower near-term insider selling pressure.
- Retention: The four-year option vesting (25% at year one, then monthly) creates meaningful retention hooks for the CMO; equity acceleration if awards are not assumed in a change in control reduces risk of forfeiture in strategic transactions.
- Incentive mix: Target bonus at 40% of salary and equity options concentrate pay-at-risk around operational milestones and value creation, though specific performance metrics/weights are not disclosed for the CMO.
- Governance caution: The 2020 Plan permits option/SAR repricing or cancellation/regrant without stockholder approval; Aligos conducted an employee option exchange in February 2024. While Achneck’s award post-dates this event, the ability to reprice is a shareholder-unfriendly feature to monitor.
- Disclosure gaps: Executive ownership guidelines and CMO-specific performance scorecards are not disclosed, limiting precision in assessing pay-for-performance alignment and potential sell pressure from vesting events.
Note: No Form 4 insider trading review was performed in this response. If desired, we can scan recent Form 4s to quantify any selling/buying activity and map upcoming vest events to trading windows.