K. Peter Hirth
Aligos TherapeuticsAbout K. Peter Hirth
K. Peter Hirth, Ph.D., age 73, has served as an independent director of Aligos Therapeutics since August 2018. He co‑founded Plexxikon, Inc. in 2001 and served as CEO until April 2013; he holds an M.Sc. and Ph.D. in Molecular Genetics from Heidelberg University and completed post‑doctoral work at UC San Diego. He currently serves on the public company boards of IO Biotech, Inc. and Vaxcyte, Inc., as well as several private companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Plexxikon, Inc. | Co‑Founder, Chief Executive Officer | 2001 – Apr 2013 | Led company building and development; CEO through company’s first decade+ |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| IO Biotech, Inc. (public) | Director | Current | Public biopharma board seat |
| Vaxcyte, Inc. (public) | Director | Current | Public biotech board seat |
| Various private companies | Director | Current | Several private company directorships in life sciences |
Board Governance
- Committee assignments: Audit Committee member (independent for audit committee purposes) and Compensation Committee member; not a committee chair. Audit Committee chaired by James Scopa; Compensation Committee chaired by Carole Nuechterlein .
- Independence: The Board determined all directors other than the CEO are independent under Nasdaq rules; Hirth is independent. Audit Committee members meet heightened SEC/Nasdaq independence standards .
- Attendance and engagement: In 2024, the Board met 6 times; Audit 4; Compensation 7; Nominating 1. Each director attended at least 75% of Board and relevant committee meetings; all directors attended the 2024 annual meeting .
- Years of service: Director since 2018 (Class II, standing for re‑election in 2025) .
- Leadership/structure: Chair/CEO is Lawrence Blatt; Carole Nuechterlein serves as Lead Independent Director; independent directors meet in regular executive sessions .
Fixed Compensation
- Director compensation structure (2024 program): Base annual cash retainer $40,000; Audit Chair +$20,000 (members +$7,500); Compensation Chair +$12,000 (members +$6,000); Nominating Chair +$10,000 (members +$5,000). Equity: initial option grant 4,800 shares and annual grant 2,400 shares; in April 2025, the Initial Grant was increased to 11,720 shares and the Annual Grant to 5,860 shares .
| Item | Amount/Detail |
|---|---|
| 2024 Fees Earned (cash) – Hirth | $51,250.00 |
| 2024 Option Award Grant Date Fair Value – Hirth | $16,984.10 |
| Program change (Apr 2025) – Annual director option grant | 5,860 options (time‑vest, one‑year) |
Performance Compensation
- Non‑employee directors do not receive performance‑based cash bonuses, PSUs, or performance‑metric‑linked equity; director equity consists of time‑based stock options under the Director Compensation Program .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlocks/Conflicts Disclosed |
|---|---|---|---|
| IO Biotech, Inc. | Director | Not disclosed | None disclosed in related‑party transactions section – |
| Vaxcyte, Inc. | Director | Not disclosed | None disclosed in related‑party transactions section – |
- Related‑party transactions: The proxy details PIPE transactions in 2023 and 2025 (e.g., Baker Brothers, Roche Finance, EcoR1, Alyeska, Adage, etc.) and purchases by certain insiders (e.g., Scopa, Blatt); no related‑person transaction involving Dr. Hirth is listed .
Expertise & Qualifications
- Deep biotech operating experience (former CEO/co‑founder, Plexxikon), public company board experience at IO Biotech and Vaxcyte, and advanced scientific training (M.Sc./Ph.D. Molecular Genetics; post‑doc UCSD). These credentials underpin contributions to Audit and Compensation Committee work and overall governance .
Equity Ownership
| Ownership Detail | Amount |
|---|---|
| Common shares beneficially owned (direct) | 2,380 shares (as of March 6, 2025) |
| Options exercisable within 60 days | 1,576 shares (as of March 6, 2025) |
| Total beneficial ownership (SEC method) | 3,956 shares; “*” <1% of outstanding |
| Director stock options outstanding (12/31/2024) | 3,976 shares underlying options |
| Hedging/pledging policy | Company policy prohibits hedging, pledging, short sales, and derivative transactions in company securities by directors |
Note: The company has a Clawback Policy compliant with SEC/Nasdaq to recover erroneously awarded incentive‑based compensation (executive‑focused) .
Governance Assessment
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Strengths
- Independent director with meaningful operating and scientific expertise; active service on Audit and Compensation Committees; meets heightened audit independence standards .
- Attendance/engagement thresholds met (≥75%) and participation in executive sessions under a Lead Independent Director framework .
- Hedging/pledging prohibitions reduce alignment risks; clawback policy in place (executives) .
-
Watch items / potential red flags (board‑level context that can influence director oversight)
- Equity plan features allow option/SAR repricing or cancellation for cash/lower‑strike awards without shareholder approval; such flexibility can be shareholder‑unfriendly if misused (no director‑specific use disclosed) .
- Share authorization and plan expansion increase potential dilution; total equity “overhang” reported at 41.87% as of March 31, 2025 (24.78% including pre‑funded warrants) .
- Baker Brothers nomination rights (PIPE 2025) can shape board composition; rights persist while ownership thresholds are met, potentially concentrating influence (no indication these affect Hirth’s independence) .
- As an Emerging Growth Company, Aligos does not hold advisory say‑on‑pay votes, limiting direct shareholder feedback on pay practices .
-
Director pay alignment
- 2024 pay mix for Hirth consists of cash retainers and time‑based options; no performance‑conditioned equity for directors, which is typical in early‑stage biotech but provides less explicit pay‑for‑performance linkage than PSUs .
Overall, Dr. Hirth appears to be a credible, independent voice with relevant domain expertise and consistent engagement. Key governance risks relate to company‑level equity plan flexibility and dilution, and investor nomination rights, rather than any director‑specific conflicts or attendance issues. No related‑party transactions involving Dr. Hirth are disclosed –.