Nancy S. Lurker
AlkermesAbout Nancy S. Lurker
Independent director at Alkermes plc since March 2024; age 67 as of April 1, 2025. Former CEO of EyePoint Pharmaceuticals (2016–2023), now Vice Chair of EyePoint’s board; extensive commercial and operating experience across big pharma and specialty biopharma. Education: B.S. Biology (Seattle Pacific University); M.B.A. (University of Evansville). Current committee assignment: Compensation Committee member since September 2024; Board-determined independent under Nasdaq/SEC rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| EyePoint Pharmaceuticals (EYPT) | Chief Executive Officer; President (until Jan 2023) | CEO: Sep 2016–Jul 2023; President: Sep 2016–Jan 2023 | Led commercial and governance transition; now Vice Chair (see External Roles) |
| PDI, Inc. (now Interpace Diagnostics) | President & Chief Executive Officer | 2008–2015 | Commercialization leadership |
| Novartis Pharmaceuticals Corp. | SVP & Chief Marketing Officer | 2006–2007 | Global marketing leadership |
| ImpactRx, Inc. | Executive and senior roles | Not specified | Healthcare information/analytics leadership |
| Pharmacia (now Pfizer) | Executive roles | Not specified | Product development/commercialization |
| Bristol-Myers Squibb | Senior roles | Not specified | Product development/commercialization |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| EyePoint Pharmaceuticals (EYPT) | Vice Chair; Director | Director since Sep 2016; Vice Chair since Jul 2023 | Public company board |
| Collegium Pharmaceutical (COLL) | Director | Since Feb 2025 | Public company board |
| Altasciences, LLC | Director | Current | Private CRO |
| National Sanitation Foundation | Director | Current | Non-profit |
| Aquestive Therapeutics (AQST) | Director | 2018–Apr 2022 | Prior public board |
| Cancer Treatment Centers of America | Director | 2016–2020 | Prior board |
| Auxilium, X4, Mallinckrodt, PDI, Elan, ConjuChem | Director (various) | 2004–2018 (various) | Prior public/privately held board roles |
Board Governance
- Independence: Board determined Ms. Lurker (and all standing committee members) independent under Nasdaq/SEC rules; only the CEO is non-independent. No family relationships among directors/officers.
- Committees: Compensation Committee member; committee is 100% independent; 9 meetings in 2024; Ms. Lurker joined in Sep 2024. No compensation committee interlocks or insider participation reported.
- Attendance: The Board held four regularly scheduled meetings in 2024; each director attended ≥75% of aggregate Board and committee meetings during their service.
- Lead Independent Director framework, executive sessions of independent directors, and declassified annual elections in place.
- Overboarding policy: Non-employee directors may serve on up to three outside public boards (in addition to ALKS); all directors were in compliance in 2024.
Fixed Compensation (Director)
| Component | Amount/Terms | Notes |
|---|---|---|
| Annual Board retainer (cash) | $74,000 | Includes first five regularly scheduled Board meetings; $3,500 per meeting above five. |
| Lead Independent Director | $40,000 | If applicable. |
| Committee Chair retainers | Audit & Risk $25,000; Compensation $25,000; Nominating & Corporate Governance $20,000; Financial Operating $20,000 | 2024 increased by $2,000 for Nominating and Financial Operating Chairs. |
| Committee Member retainers | Audit & Risk $15,000; Compensation $15,000; Nominating & Corporate Governance $12,000; Financial Operating $12,000 | 2024 increases for Nominating and Financial Operating Members. |
| Expense reimbursement / D&O insurance | Provided | Standard non-employee director coverage. |
2024 actual cash fees earned by Ms. Lurker: $65,595 (prorated for her March 2024 appointment and September committee assignment).
Performance Compensation (Director Equity)
- Program design: Annual equity grant target $375,000; New Director Grant $562,500; mix 50% RSUs / 50% stock options; Annual and Pro-Rata grants vest in full at 1 year; New Director Grants vest in three equal annual installments. Equity values unchanged from 2018. Options expire 10 years from grant (or 3 years after service end).
- Grant mechanics: RSU share count = approved value / grant date closing price; option share count via Black-Scholes using grant-date price.
| Grant Date | Award Type | Shares/Units | Grant-Date Value/Share | Vesting/Terms |
|---|---|---|---|---|
| Apr 11, 2024 | RSU (Pro-Rata Annual) | 2,323 | $24.99 | Vests 1-year from grant; for Ms. Lurker’s April grants (Pro-Rata and New Director), any unvested portion vests upon any termination of service. |
| Apr 11, 2024 | RSU (New Director) | 11,255 | $24.99 | Vests in 3 equal annual installments starting 1-year from grant; acceleration on any termination (for these April grants). |
| Apr 11, 2024 | Option (Pro-Rata Annual) | 4,833 | $12.01 (grant-date fair value per option) | Vests 1-year from grant; 10-year term; acceleration on any termination (for these April grants). |
| Apr 11, 2024 | Option (New Director) | 22,103 | $12.70 (grant-date fair value per option) | Vests in 3 equal annual installments; 10-year term; acceleration on any termination (for these April grants). |
| May 31, 2024 | RSU (Annual Grant) | 8,013 | $23.40 | Vests 1-year from grant; since May 2024, director RSUs accelerate upon death or permanent disability. |
| May 31, 2024 | Option (Annual Grant) | 17,492 | $10.72 (grant-date fair value per option) | Vests 1-year from grant; 10-year term; since May 2024, director options accelerate upon death or permanent disability. |
2024 equity compensation reported for Ms. Lurker: Stock awards $526,818; Option awards $526,147; Total 2024 compensation $1,118,560 (including cash).
Note: The acceleration on “any termination of service” is specific to Ms. Lurker’s April 2024 Pro-Rata Annual and New Director grants; subsequent policy provides acceleration only upon death or permanent disability. Governance-sensitive investors may view broad acceleration features as less performance-aligned for director equity.
Other Directorships & Interlocks
| Type | Company | Role | Interlock/Notes |
|---|---|---|---|
| Public | EyePoint Pharmaceuticals (EYPT) | Vice Chair; Director (since 2016) | Current; ophthalmology specialty; no ALKS interlock disclosed. |
| Public | Collegium Pharmaceutical (COLL) | Director (since Feb 2025) | Current; no ALKS interlock disclosed. |
| Private | Altasciences, LLC | Director | Current. |
| Non-Profit | National Sanitation Foundation | Director | Current. |
| Prior Public | Aquestive (2018–Apr 2022); Mallinckrodt; Auxilium; X4; PDI; Elan; ConjuChem | Director | Prior roles; no current interlocks disclosed. |
- Compensation Committee interlocks: None reported for 2024; Ms. Lurker served on the Compensation Committee, which was entirely independent.
Expertise & Qualifications
- Executive leadership and commercialization expertise with track record of U.S./global product launches; strategic planning and governance experience across public companies.
- Brings industry knowledge and insights in product development, launch, and commercialization relevant to ALKS’s neuroscience portfolio.
Equity Ownership
| Measure | Detail |
|---|---|
| Beneficial ownership (Record Date Mar 14, 2025) | No issued or issuable shares within 60 days were reported for Ms. Lurker in the beneficial ownership table. |
| Outstanding unvested RSUs (Dec 31, 2024) | 21,591 shares (reflects April and May 2024 grants outstanding at year-end). |
| Outstanding stock options (Dec 31, 2024) | 44,428 shares (outstanding options as of year-end). |
| Hedging/Pledging | Prohibited for directors under Insider Trading Policy. |
| Director stock ownership guideline | 3x annual cash retainer; first measurement 5 years from initial election; compliance assessed annually. |
| Compliance status | As of Jan 2, 2025, the Nominating & Corporate Governance Committee determined the CEO and all other directors/officers were in compliance with the Share Ownership and Holding Guidelines. |
Related-Party Transactions & Conflicts
- Policy: Audit & Risk Committee reviews related-party transactions; quarterly related-party screening across director/officer affiliations.
- Disclosures: No related-person transactions >$120,000 since Jan 1, 2024.
- Independence safeguards: Independent directors do not receive consulting/advisory fees that would impair independence; directors affiliated with counterparties undertake to ensure compensation isn’t tied to ALKS payments.
Governance Assessment
- Strengths: Independent director with deep operating/commercial expertise; active Compensation Committee member; robust governance framework (declassified board, executive sessions, ownership guidelines, hedging/pledging ban); no related-party transactions disclosed; attendance expectations met across the board in 2024.
- Alignment: Director pay balanced between cash and equity; equity vesting and ownership guidelines support long-term alignment; broad acceleration on Ms. Lurker’s April 2024 initial grants is a potential alignment caveat vs. later-standard death/disability acceleration.
- Overboarding: Holds two other public boards; compliant with ALKS policy limit (≤3 outside public boards).
- Red flags observed: None material from filings; no related-party ties; no hedging/pledging; committee interlocks absent; note the broader acceleration on initial director grants as a governance nuance to monitor.