Margarita Chavez
Aligos TherapeuticsAbout Margarita Chavez
Margarita Chavez, J.D., age 55, joined the Aligos Therapeutics board in August 2024 and is standing for re‑election as a Class II director in 2025. She is an independent director and a member of the Audit Committee. Chavez’s background spans venture capital leadership at AbbVie Ventures and Wellington Partners and prior practice as a corporate and securities lawyer; she holds both a B.S. and J.D. from Santa Clara University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AbbVie Ventures (corporate VC arm of AbbVie Inc.) | Managing Director | Jan 2016 – Apr 2023 | Led strategic life sciences investments; multiple public/private boards |
| AbbVie | Director, Venture & Early Stage Collaborations | Jan 2013 – Dec 2015 | Corporate development and early stage partnerships |
| Abbott Laboratories / Abbott Biotech Ventures | Various roles; Director, Venture Investments | Mar 2004 – Dec 2013 (Director role Jun 2010 – Dec 2013) | Venture investments in biotech portfolio |
| Brobeck, Phleger & Harrison LLP | Corporate & Securities Lawyer | Not specified | Capital markets and corporate advisory |
| Rosenblum Parish & Isaacs | Corporate & Securities Lawyer | Not specified | Corporate transactions |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Wellington Partners | Venture Partner | Current (since Sep 2023) | VC firm role |
| Newron Pharmaceuticals S.p.A. | Director | Current | Public biopharma board member |
| Santa Clara University | Board of Regents | Current | University governance |
| P33 Chicago | Board member | Current | Non‑profit tech/innovation initiative |
| Carisma Therapeutics Inc. | Director | Prior | Public biotechnology company |
| Various private bioscience/pharma companies | Director | Prior | Multiple boards |
Board Governance
- Committee memberships: Audit Committee member; current Audit Committee composition: James Scopa (Chair), K. Peter Hirth, and Margarita Chavez; all members meet SEC/Nasdaq independence and literacy requirements .
- Independence: Board determined all directors except CEO Lawrence Blatt are independent under Nasdaq rules; independent directors meet in regularly scheduled executive sessions; lead independent director is Carole Nuechterlein .
- Tenure/class: Class II director term expires at 2025 annual meeting; nominated for re‑election to a term through 2028 .
- Attendance: In 2024, each Board member attended at least 75% of Board and applicable committee meetings; Board met 6 times; Audit Committee met 4 times; Compensation Committee met 7 times; Nominating & Corporate Governance met once .
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Annual cash retainer | Program: $40,000/year; pro‑rated actual for Chavez: $18,974.18 | Standard director cash retainer; Chavez joined Aug 7, 2024 |
| Committee cash fees | Audit member: $7,500/year; Audit chair: $20,000/year | Chavez is an Audit Committee member (not chair) |
| Equity – Initial option grant | 4,800 shares (grant‑date fair value $47,930.06) | Initial grant upon appointment; value per ASC 718 |
| Equity – Annual option grant | 2,400 shares (program prior to Apr 2025 amendment) | Annual grant to vest by next annual meeting |
| Program amendment (Apr 2025) | Initial grant increased to 11,720 shares; Annual grant to 5,860 shares | Applies prospectively to non‑employee directors |
| Non‑employee director annual equity value cap | $1,500,000 grant‑date fair value per calendar year | Plan limit for director awards |
Performance Compensation
- No performance‑conditioned director pay disclosed; director equity awards are standard options with time‑based vesting rather than performance metrics .
Other Directorships & Interlocks
| Company | Sector | Public/Private | Potential Interlock/Conflict Note |
|---|---|---|---|
| Newron Pharmaceuticals S.p.A. | Biopharma | Public | No ALGS‑specific related‑party dealings disclosed – |
| Carisma Therapeutics Inc. | Biotechnology | Public (prior) | No ALGS‑specific related‑party dealings disclosed – |
| Various private bioscience firms | Biotech/pharma | Private | Not specified; no related‑party transactions identified – |
| Wellington Partners | Venture capital | Private | External VC affiliation; no ALGS‑specific transactions disclosed – |
Expertise & Qualifications
- Venture capital leadership across AbbVie Ventures and Wellington Partners; multiple board experiences in public and private life sciences .
- Legal training and practice in corporate and securities law; B.S. and J.D. from Santa Clara University .
- Audit Committee service at ALGS (financial literacy affirmed for Audit Committee members generally) .
Equity Ownership
| Metric (as of Mar 6, 2025) | Amount | Ownership % |
|---|---|---|
| Outstanding shares beneficially owned | 0 | * |
| Shares exercisable within 60 days | 1,066 | * |
| Total beneficially owned (per SEC rules) | 1,066 | * (less than 1%) |
Notes:
- Insider Trading Compliance Policy prohibits hedging, short sales, and pledging by directors and employees, supporting alignment and risk controls .
- Awards under the equity plan are subject to ALGS’s clawback policy and may be recovered in the event of accounting restatements per SEC/Nasdaq rules .
Governance Assessment
- Strengths:
- Independent director on the Audit Committee with relevant investment and legal experience; independence affirmed under Nasdaq rules .
- Board/committee attendance disclosure indicates at least 75% participation; presence of lead independent director and executive sessions supports oversight quality .
- Hedging/pledging prohibited; clawback policy in place for equity awards enhances investor alignment and accountability .
- Watch items / potential investor confidence risks:
- Equity plan allows repricing or cash‑out of options/SARs without stockholder approval, which many investors view as a governance red flag if used imprudently .
- Elevated equity overhang (41.87% as of Mar 31, 2025; 24.78% including pre‑funded warrants) and proposals to materially increase authorized voting and non‑voting shares raise dilution concerns; oversight focus on capital allocation and grant discipline is warranted .
- Baker Brothers PIPE investor nomination rights to the Board (one or two seats subject to ownership thresholds) may affect board dynamics over time; continued independence and robust Nominating Committee process are important .
- Related parties:
- No related‑party transactions involving Ms. Chavez are disclosed in the proxy’s related‑person transactions section covering 2023–2025 –.
Overall, Chavez brings venture and legal expertise and serves on the Audit Committee with independence; investors should monitor use of equity plan repricing authority and dilution from share authorizations while expecting continued adherence to hedging/pledging prohibitions and clawback compliance .