Steen Knudsen
Allarity TherapeuticsAbout Steen Knudsen
Dr. Steen Knudsen is Chief Scientific Officer (CSO) of Allarity Therapeutics, Inc. (NASDAQ: ALLR) since July 2021, a co‑founder of the company’s predecessor (Allarity Therapeutics A/S) and inventor of its DRP companion diagnostics platform; he previously served as CSO of the predecessor since 2006, CEO from 2004–2006, and director from 2016–2020 . He holds an M.Sc. in Engineering (Technical University of Denmark) and a Ph.D. in Microbiology (University of Copenhagen), with postdoctoral training in computational biology at Harvard Medical School; he is also the CEO of MPI, Inc., Allarity’s U.S. operating subsidiary . The proxy does not disclose TSR, revenue growth, or EBITDA growth tied to his tenure; pay‑for‑performance metrics specific to Knudsen are not detailed .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Allarity Therapeutics A/S (predecessor) | Chief Executive Officer | 2004–2006 | Co‑founded company; early leadership establishing DRP platform |
| Allarity Therapeutics A/S (predecessor) | Chief Scientific Officer | 2006–2021 | Led development of DRP® companion diagnostic platform |
| Allarity Therapeutics A/S (predecessor) | Director | 2016–2020 | Board oversight during platform development |
| Allarity Therapeutics, Inc. | Chief Scientific Officer | Since July 2021 | Scientific leadership for clinical development and DRP strategy |
| Academic | Professor of Systems Biology (former) | Not disclosed | Systems biology expertise underpinning DRP®/bioinformatics capability |
| Harvard Medical School | Postdoctoral training (Computational Biology) | Not disclosed | Computational foundations for drug response prediction |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| MPI, Inc. (Allarity U.S. operating subsidiary) | Chief Executive Officer | Current | Operational leadership of U.S. subsidiary supporting DRP® and clinical execution |
| Academic (institution not specified) | Professor of Systems Biology (former) | Not disclosed | External scientific leadership and domain expertise |
| Harvard Medical School | Postdoctoral researcher | Not disclosed | External research training in computational biology |
Fixed Compensation
Multi-year summary of disclosed compensation for Dr. Knudsen:
| Metric (USD) | 2023 | 2024 |
|---|---|---|
| Salary | $266,215 | $140,937 |
| Bonus | — | — |
| Stock Awards (grant-date fair value) | — | — |
| Non-Equity Incentive Plan Compensation | — | $56,374 (company notes this column reflects cash incentive bonuses) |
| All Other Compensation | — | — |
| Total | $266,215 | $140,937 |
Notes:
- The proxy states no option awards were granted to named executive officers in 2023 or 2024 .
- Footnote (10) clarifies that the non‑equity incentive plan compensation column reflects cash incentive bonuses; specific performance metrics are not provided .
Performance Compensation
- The company did not disclose specific performance metrics, weightings, targets, or vesting terms tied to Dr. Knudsen’s non‑equity incentive payout in 2024; footnote indicates the column reflects cash incentive bonuses without detailing metrics .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Beneficial ownership (as of record date) | None; the proxy reports that none of the directors or executive officers, including Steen Knudsen, beneficially owned shares as of the record date (17,075,338 shares outstanding) |
| Outstanding RSUs/options (as of 12/31/2024) | Not listed for Knudsen; outstanding RSUs disclosed only for CFO (55,555) and President/CDO (118,483) with 1/3 annual vesting; no entry for Knudsen |
| Shares pledged as collateral | Not disclosed |
| Hedging policy | Board has not adopted specific practices/policies restricting hedging or offsetting of decreases in market value by officers/directors |
| Clawback policy | Adopted compensation recovery policy covering erroneously paid incentive compensation, applicable to Section 16 officers, recoverable from time‑vesting or performance‑vesting equity |
Implication: As of the record date, Knudsen held no reported company equity and is not listed with outstanding RSUs, limiting direct equity alignment and reducing insider selling/vesting pressure signals in the near term .
Employment Terms
Key terms of the Knudsen Employment Agreement (Danish law governed):
- Termination mechanics: Governed by Danish Salaried Employees Act; special provision allows termination with 1 month’s notice to end of calendar month if 120 sick leave days occur within 12 months, with notice served immediately upon expiry while still sick .
- Post‑termination restrictive covenants: Non‑compete/non‑solicit compensation paid monthly during the restrictive period at 60% of final base salary, pension, bonus, and taxable fringe benefits; lump sum compensation for first 2 months on resignation date; reduced to 24% for months 3–6 if suitable new employment is obtained; company may terminate the restriction clause at any time with 1 month’s notice, ending payment obligation .
- Severance/change‑of‑control economics: The agreement details post‑termination restrictive‑covenant payments but does not disclose U.S.‑style severance multiples or change‑of‑control acceleration or cash multiples specific to Knudsen .
Board Governance and Policies Relevant to Compensation
- Compensation Committee: Comprised of McLaughlin, Vazzano, Benjamin; one meeting held in 2024 .
- Emerging Growth Company: Exempt from say‑on‑pay vote and CEO pay ratio disclosure .
- Insider trading and hedging: Insider trading policy exists; Board has not adopted specific anti‑hedging policies for officers/directors .
Investment Implications
- Alignment risk: No reported beneficial ownership and no outstanding equity awards for Knudsen as of the record date materially limit equity‑based alignment; the absence of explicit anti‑hedging policies further weakens alignment safeguards .
- Retention dynamics: Danish restrictive‑covenant compensation (60% for the initial period, then 24% if employed) provides some post‑termination economic bridge but is not equivalent to U.S. severance/change‑of‑control packages; lack of disclosed CoC terms for Knudsen suggests limited golden‑parachute risk but also fewer retention levers if strategic transactions occur .
- Pay‑for‑performance opacity: 2024 non‑equity incentive payout is disclosed as cash but without performance metric detail, reducing transparency on how scientific milestones or corporate KPIs drive pay outcomes for the CSO role .
- Selling pressure: With no disclosed holdings or outstanding RSUs/options for Knudsen, near‑term insider selling pressure appears low from his account; broader executive equity tables show vesting schedules for CFO and President/CDO, but not for CSO .