Srinivas Akkaraju
About Srinivas Akkaraju
Srinivas Akkaraju, M.D., Ph.D., age 57, has served as an independent director of Alumis Inc. since March 2024. He is the founder and managing member of Samsara BioCapital (since March 2017) and holds M.D. and Ph.D. degrees in Immunology from Stanford University, with undergraduate degrees in Biochemistry and Computer Science from Rice University, bringing deep scientific and investment expertise to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Samsara BioCapital | Founder & Managing Member | Mar 2017–present | Life sciences VC leadership; board service across biopharma |
| Sofinnova Ventures | General Partner | Apr 2013–Feb 2016 | Biotech investing and portfolio oversight |
| New Leaf Venture Partners | Managing Director | Jan 2009–Apr 2013 | Biotech investing and portfolio oversight |
External Roles
| Company | Role | Status |
|---|---|---|
| vTv Therapeutics Inc. | Director | Current |
| Scholar Rock Holding Corporation | Director | Current |
| Mineralys Therapeutics, Inc. | Director | Current |
| Inventiva S.A. | Director | Current |
| Syros Pharmaceuticals, Inc. | Director | Current |
| Chinook Therapeutics, Inc.; Jiya Acquisition Corp.; Aravive, Inc. (formerly Versartis); Intercept Pharmaceuticals, Inc.; Principia Biopharma Inc.; Seagen, Inc. | Director | Past (last five years as listed) |
Board Governance
- Independence: Board affirmatively determined all directors other than the CEO to be independent under Nasdaq rules; Akkaraju is independent and serves on fully independent committees .
- Committee assignments: Audit Committee member (appointed June 21, 2024); Audit Chair is Patrick Machado; committee qualifies under SEC Rule 10A-3; Machado designated “financial expert” .
- Board/committee engagement: Board met 12 times in fiscal 2024; each director attended ≥75% of Board and committee meetings; independent directors held 4 executive sessions in 2024 .
- Risk oversight: Audit Committee oversees financial reporting, internal controls, legal/regulatory and cybersecurity; reviews related-person transactions; Compensation Committee monitors comp-related risk .
| Committee | Role | Chair? | Meetings in FY2024 |
|---|---|---|---|
| Audit | Member | No | 3 |
| Compensation | — | — | 7 |
| Governance | — | — | 0 |
Fixed Compensation
| Metric | FY2024 |
|---|---|
| Annual director cash fees (earned) | $25,549 |
| Option awards (grant date fair value) | $0 |
| Total director compensation | $25,549 |
Non-Employee Director Compensation Policy (effective Feb 2025; structure for all non-employee directors):
- Annual cash retainer: $40,000; additional $30,000 for non-executive Chair
- Committee member retainers: Audit $10,000; Compensation $7,500; Governance $5,000
- Committee chair retainers (in lieu of member retainer): Audit $20,000; Compensation $15,000; Governance $10,000
- Equity: Initial option grant (52,000 shares) on appointment; annual option grant (26,000 shares) at each annual meeting; 10-year term
Performance Compensation
Director equity grants are time-based (not tied to financial/ESG metrics):
| Grant Type | Shares | Vesting | Acceleration |
|---|---|---|---|
| Initial option grant | 52,000 | 1/36 monthly over 3 years; full vest on 3rd anniversary if in service | Vests upon Change in Control (as defined) if in service |
| Annual option grant | 26,000 | Vests by earlier of 1 year or next annual meeting if in service | — |
Note: Akkaraju received no option awards in FY2024 per the proxy; FY2025 grants under the policy are not individually disclosed in the DEF 14A .
Other Directorships & Interlocks
- Fund affiliations: Managing member of Samsara BioCapital (5.0% holder of ALMS voting common at record date via Samsara LP) .
- Large holders on board: Entities affiliated with Foresite Capital (15.8%)—director James Tananbaum; AyurMaya Capital (15.8%)—Alan Colowick affiliate—heightens potential influence of major shareholders in governance and transactions .
- Voting/support agreements: In connection with ACELYRIN merger (Feb 6, 2025), affiliates of Foresite, AyurMaya, Samsara, and CEO Babler (≈62% combined) agreed to vote in favor—coordination among major holders .
Expertise & Qualifications
- Scientific credentials: M.D./Ph.D. in Immunology (Stanford) .
- Investment/board experience: Extensive venture investing and multiple public/private biopharma boards; complements Audit Committee oversight with sector context .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Voting Power | Notes |
|---|---|---|---|
| Srinivas Akkaraju (through Samsara LP) | 4,801,370 | 5.0% | As of June 4, 2025; managed via Samsara GP; disclaims except to pecuniary interest |
| ALMS voting common outstanding (record date) | 96,004,357 | — | Record date for 2025 meeting |
Insider Trades (Form 4):
| Date | Type | Shares | Price | Entity | Post-transaction holdings | Notes |
|---|---|---|---|---|---|---|
| Nov 13, 2025 (filed Nov 17, 2025) | Indirect purchase | 276,179 | $5.25 | Samsara Opportunity Fund, L.P. | 276,179 via Samsara Opportunity Fund; 4,491,731 via Samsara LP | Privately negotiated; transfer between Samsara entities; reporting person disclaims beyond pecuniary interest |
Policy Alignment:
- Hedging/pledging prohibited (no margin, prepaid forwards, swaps, collars, exchange funds, or pledging) under Insider Trading Policy—positive alignment .
Governance Assessment
- Board effectiveness: Akkaraju adds domain and investing expertise, sits on Audit Committee (independent, with a designated financial expert as chair), and the Board demonstrated strong engagement (12 meetings; ≥75% attendance; independent executive sessions). This supports robust oversight .
- Ownership alignment: Significant beneficial ownership via Samsara (≈5%), plus additional insider purchase in Nov 2025, supports alignment—but as a fund manager, interests can include portfolio-level considerations distinct from single-issuer minority holders .
- Potential conflicts/related-party exposure:
- Coordinated voting agreements among major holders (Foresite, AyurMaya, Samsara, CEO) in the ACELYRIN merger could concentrate influence; audit committee oversees related-person transactions, and the company maintains a formal related-person transaction policy requiring recusal and independent approvals .
- Foresite Labs services agreement (affiliated with a major holder) totaled $0.9M in 2024; although not tied to Akkaraju, it signals ongoing related-party engagements that require rigorous oversight .
- Compensation signals: 2024 non-employee director pay was modest and primarily cash for Akkaraju; policy introduces standardized equity grants to align directors over time; no director performance metrics are used (appropriate for independence) .
- RED FLAGS (monitor):
- Company-wide March 2024 option repricing (included board members and NEOs) can be shareholder-unfriendly if repeated or insufficiently justified; company cited retention and cash preservation rationale tied to IPO timing—requires continued scrutiny by compensation committee .
- Concentrated ownership and multiple board members affiliated with >5% holders (Foresite, AyurMaya) heighten interlock risk; independence framework and related-person policy mitigate but consistent enforcement is key .
- Ensure strict compliance with no-hedging/no-pledging policies for directors and affiliates to maintain alignment .
Overall, Akkaraju’s scientific-investor profile and audit committee role strengthen board oversight; his material beneficial ownership is a positive alignment signal, while fund affiliation and coordinated major-holder actions should remain an ongoing focus for conflict-management discipline and transparent governance processes .