Julian Symons
Aligos TherapeuticsAbout Julian Symons
Julian A. Symons, D.Phil., age 64, is Executive Vice President and Chief Scientific Officer (CSO) of Aligos Therapeutics (ALGS), a role he has held since May 2018. He previously held R&D leadership roles at Alios BioPharma (Senior Director, Product Development) and Janssen (VP, Disease Area R&D Leader, Respiratory Infections), and earlier positions at Roche and UK academic medical institutions; he holds a D.Phil. in Immunology and Autoimmunity from the University of York and a B.Sc. (Hons) in Biochemistry and Physiology from the University of Central Lancashire . As an emerging growth company, ALGS provides scaled executive compensation disclosures; company-level TSR, revenue growth, and EBITDA growth are not disclosed in the proxy.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Janssen Pharmaceutical Companies (J&J) | VP, Disease Area R&D Leader, Respiratory Infections | Mar 2015 – Apr 2018 | Led respiratory infections program leadership in R&D . |
| Alios BioPharma (acquired by Janssen Nov 2014) | Senior Director, Product Development | Jan 2013 – Mar 2015 | Product development leadership; transition through acquisition . |
| F. Hoffmann-La Roche Ltd (Pharmaceutical Division) | Various positions | Not disclosed | R&D roles prior to Alios tenure . |
| University of Edinburgh; University of Sheffield; University of Oxford (Sir William Dunn School of Pathology) | Department of Medicine/Pathology roles | Not disclosed | Academic medicine and pathology roles prior to industry . |
External Roles
- None disclosed for Dr. Symons in the proxy .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 473,669 | 487,879 |
| Target Bonus % (program) | 40% of base salary (per annual bonus program design) | 40% of base salary (program design reference; actual payout below) |
| Actual Annual Bonus Paid ($) | 215,993 | 177,588 |
Notes:
- 2024 corporate goals were certified at 105% of target; for Dr. Symons (whose individual goals comprise 20% of target bonus), the committee determined a 104% blended annual bonus result; amounts paid are shown above .
Performance Compensation
Annual Cash Incentive (2024)
| Metric | Weighting | Target | Actual | Payout Basis | Vesting/Timing |
|---|---|---|---|---|---|
| Corporate operational goals (aggregate) | 80% (implied from 20% individual) | 100% | 105% | 2024 bonus program determination | Paid in early 2025 |
| Individual goals (Symons) | 20% | 100% | Included in blended 104% outcome | Blended result for Dr. Symons at 104% | Paid in early 2025 |
Equity Awards (grants, pricing, vesting)
| Grant/Action | Grant Date | Type | Shares | Exercise Price | Vesting Terms | Notes |
|---|---|---|---|---|---|---|
| Option exchange (repricing via exchange) | Feb 28, 2024 | Options (new) | 6,100 | $24.00 | Later of 1-year from 2/28/24 or original canceled option schedule | Exchanged 13,247 high-strike options for 6,100 new options at $24.00 . |
| Annual refresh option | Mar 1, 2024 | Options | 2,880 | $28.25 | 1/48th monthly, standard time-based vesting | Annual cycle grant . |
| Prior-year option | Sep 4, 2023 | Options | 10,880 | $11.74 | 1/48th monthly | Outstanding into 2024 . |
Outstanding equity positions (as of 12/31/2024):
| Vesting Start | Exercisable (#) | Unexercisable (#) | Exercise Price | Expiration |
|---|---|---|---|---|
| 9/4/2024 | 680 | 10,200 | $11.74 | 9/4/2034 |
| 3/1/2024 | 540 | 2,340 | $28.25 | 3/1/2034 |
| 9/8/2023 | 679 | 1,240 | $21.00 | 9/8/2033 |
| 3/15/2023 | 1,378 | 1,771 | $33.50 | 3/15/2033 |
| 7/7/2022 | 1,208 | 791 | $35.25 | 7/7/2032 |
| 2/28/2024 (exchanged) | — | 2,352 | $24.00 | 2/28/2034 |
| 2/28/2024 (exchanged) | — | 2,998 | $24.00 | 2/28/2034 |
| 2/28/2024 (exchanged) | — | 750 | $24.00 | 2/28/2034 |
| 2/20/2020 | 580 | — | $86.25 | 2/20/2030 |
| 2/20/2020 | 1,784 | — | $86.25 | 2/20/2030 |
Option-award expense (grant-date/incremental fair value recognized):
- 2024: $157,050
- 2023: $100,804
Plan-level governance note:
- The 2020 Incentive Award Plan permits repricing/cash-out of options or SARs without stockholder approval, a governance risk factor for investors .
Equity Ownership & Alignment
| Ownership Detail (as of March 6, 2025) | Amount |
|---|---|
| Shares owned directly | 15,762 |
| Options exercisable within 60 days | 15,311 |
| Total beneficial ownership (SEC basis) | 31,073 |
| Shares outstanding (voting common) | 5,314,311 |
| Beneficial ownership (% of voting common) | ~0.58% (derived from 31,073 / 5,314,311 using values above) |
Additional alignment and restrictions:
- Hedging, pledging, short sales, and margin purchases of ALGS stock by directors, officers, and employees are prohibited under the Insider Trading Compliance Policy .
- Company-wide clawback (Recovery of Erroneously Awarded Compensation) policy applies to incentive compensation in the event of a qualifying restatement .
- Stock ownership guidelines for executives are not disclosed in the proxy (no mention found) .
Employment Terms
| Provision | Base (Non‑CIC) | Change-in-Control (CIC) Window |
|---|---|---|
| Trigger | Terminated without cause or resigns for good reason | Terminated without cause or resigns for good reason within 3 months before to 12 months after a CIC |
| Cash severance | 9 months of base salary | 1x (base salary + target bonus at 100%) |
| COBRA | 9 months reimbursement | 12 months reimbursement |
| Equity vesting | Acceleration of any awards that would vest within 9 months; performance awards per award terms | Full acceleration; performance awards deemed earned at greater of target or actual (if measurable) |
| Option exercise post-termination | Vested options exercisable for 12 months | Vested options exercisable for 12 months |
| Conditions | Effective release; compliance with restrictive covenants | Effective release; compliance with restrictive covenants |
Notes:
- Definitions of “cause,” “good reason,” and “change in control” are specified; “change in control” aligns with the 2020 Plan and Treas. Reg. 1.409A-3(i)(5) .
Compensation Structure Analysis
- Mix shift and risk: 2024 compensation comprises salary ($487,879), bonus ($177,588), and option awards expense ($157,050), indicating a majority cash mix with material long-term equity; ALGS executed a broad February 2024 option exchange resetting exercise prices to $24 for underwater options, a common retention tool but indicative of prior underwater equity and potentially reduced at-risk leverage for executives .
- Governance considerations: The plan allows option/SAR repricing or cash-outs without stockholder approval, which many investors view as a red flag; investors may scrutinize alignment and potential dilution given ALGS’s burn rate and overhang policies .
Investment Implications
- Alignment and retention: Symons’ ownership (~0.58% of voting common on a beneficial basis) and significant unvested option overhang tied to continued service suggest retention alignment; prohibition on hedging/pledging supports long-term incentive integrity .
- Payout sensitivity: Annual incentive outcomes are driven primarily by corporate goals (80% weight) with an individual component (20%); 2024 certified at 105% corporate and 104% blended result for Symons, indicating pay outcomes are responsive to operational objectives .
- Change-in-control protection: One-times salary-plus-target-bonus CIC cash multiple with full equity acceleration is market-typical for CSO roles in small-cap biotech; outside CIC, protection is 9 months of salary and partial vesting acceleration, balancing retention and shareholder interests .
- Governance risks: Option exchange activity and the plan’s ability to reprice without stockholder approval warrant monitoring for future award practices and dilution; however, the company maintains a compliant clawback and restrictive trading policy, mitigating some governance risk .
Citations:
Executive officer biography (age, education, career history) – ALGS DEF 14A (Apr 28, 2025)
Summary compensation table and amounts for 2023–2024 – ALGS DEF 14A (Apr 28, 2025)
Bonus program design, 2024 results, option exchange and grant details – ALGS DEF 14A (Apr 28, 2025)
Outstanding equity awards table (Symons) – ALGS DEF 14A (Apr 28, 2025)
Plan allows option/SAR repricing without stockholder approval – ALGS DEF 14A (Apr 28, 2025)
Burn rate/overhang methodology and figures (plan-level context) – ALGS DEF 14A (Apr 28, 2025)
– Change-in-control severance agreement terms for Symons – ALGS DEF 14A (Apr 28, 2025)
Insider Trading Compliance Policy (hedging/pledging prohibited) – ALGS DEF 14A (Apr 28, 2025)
Clawback policy summary – ALGS DEF 14A (Apr 28, 2025)
Beneficial ownership table baseline (shares outstanding) – ALGS DEF 14A (Apr 28, 2025)
Beneficial ownership details for Symons – ALGS DEF 14A (Apr 28, 2025)