Brendan Gibbons
About Brendan Gibbons
Brendan M. Gibbons is Chief Legal Officer and Secretary of Allurion Technologies (ALUR), serving since January 2024. He previously held top legal roles at Acushnet (NYSE: GOLF), Wolverine Worldwide (NYSE: WWW), and Carter’s (NYSE: CRI), and began his career at Ropes & Gray. He holds a B.A., magna cum laude, from the University of Pennsylvania, and a J.D., magna cum laude, from Boston College Law School . He is one of ALUR’s named executive officers for 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Acushnet Company (NYSE: GOLF) | EVP, Chief Legal Officer & Corporate Secretary | Dec 2017–Dec 2021 | Led legal, governance and corporate secretary functions for a global consumer brand company . |
| Wolverine Worldwide (NYSE: WWW) | SVP, General Counsel & Corporate Secretary | 2014–2017 | Oversaw legal and corporate governance at an international footwear/apparel company . |
| Carter’s, Inc. (NYSE: CRI) | SVP, Legal & Corporate Affairs; General Counsel & Secretary | 2004–2013 | Managed legal affairs and governance for a leading children’s apparel company . |
| Ropes & Gray LLP | Attorney | — | Early career in private practice . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | No public company directorships disclosed in ALUR’s executive officer biographies | — | — |
Fixed Compensation
| Item | 2024 | Notes |
|---|---|---|
| Current Base Salary ($) | $400,000 | Per employment agreement . |
| Target Annual Bonus (% of salary) | 50% | Per employment agreement . |
| Salary Paid in 2024 ($) | $371,282 | Prorated from Jan 29, 2024 start . |
| Cash Bonus Paid for 2024 ($) | $0 | No performance bonus earned/paid for 2024 . |
| Perquisites/All Other Compensation 2024 ($) | $0 | None disclosed for Gibbons in 2024 “All Other Compensation” . |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual cash bonus | Company/individual performance (not disclosed) | Not disclosed | 50% of base salary | $0 paid for 2024 | Annual cash, at Board/Comp Committee discretion |
Equity Awards (2024 grants)
| Grant Date | Instrument | Shares/Units | Exercise/Grant Terms | Vesting Schedule | Expiration | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|---|
| Feb 8, 2024 | Stock Options | 10,153 unexercisable at 12/31/24 | $74.00 strike | 25% on first anniversary of 1/29/2024; remainder in 36 equal monthly installments | Feb 7, 2034 | $500,000 (2024 option awards) |
| Nov 8, 2024 | RSUs | 12,270 unvested at 12/31/24 (MV $131,903) | Service-based | 50% on first anniversary; 50% on second anniversary of grant | — | $226,381 (2024 stock awards) |
Notes:
- Equity grant values reflect ASC 718 grant-date fair value; counts shown reflect year-end outstanding/unvested status .
Equity Ownership & Alignment
| Item | Amount | Detail/Source |
|---|---|---|
| Beneficial Ownership (as of Feb 28, 2025) | 3,175 shares (options exercisable within 60 days) | Footnote states consists solely of options exercisable within 60 days; less than 1% of outstanding . |
| % of Shares Outstanding | <1% | Based on 5,961,714 shares outstanding as of Feb 28, 2025 . |
| Options – Exercisable (near-term) | 3,175 | Within 60 days of Feb 28, 2025 . |
| Options – Unexercisable (12/31/24) | 10,153 | From outstanding awards table . |
| RSUs – Unvested (12/31/24) | 12,270 | From outstanding awards table . |
| Pledging/Hedging | Not disclosed | No explicit policy reference found in cited filings. |
Vesting and potential selling pressure:
- Options: 25% vested on 1/29/2025; remaining 75% vests in 36 equal monthly installments thereafter, creating steady monthly unlocks through early 2028 .
- RSUs: 50% scheduled to vest on 11/08/2025 and 50% on 11/08/2026, representing two annual supply events .
Employment Terms
| Term | Detail |
|---|---|
| Start Date/Role | Chief Legal Officer and Secretary since Jan 2024 . |
| Employment Type | At-will . |
| Base Salary | $400,000 . |
| Target Bonus | 50% of base salary . |
| Severance (Non-CIC) | 9 months base salary continuation; company-paid COBRA until earliest of 12 months, other coverage, or COBRA period expiration; subject to release . |
| Change-in-Control (Double Trigger) | If terminated without cause/for good reason within 12 months following a “sale event”: cash equal to 1x (base salary + target bonus), full acceleration of time-based equity, and company-paid COBRA up to 12 months; subject to release . |
| Death/Disability | Pro-rated annual bonus at Board/Comp Committee discretion; subject to release . |
Performance & Track Record
- Executive officer signing authority on multiple ALUR 8-Ks and proxy materials (indicating central role in disclosure and governance processes) .
- No material legal proceedings involving executive officers disclosed by the company .
Compensation Structure Analysis
- 2024 pay mix emphasizes equity over cash (options $500,000; RSUs $226,381; salary earned $371,282; no cash bonus), aligning a meaningful portion of compensation to long-term equity value appreciation and retention via time-based vesting .
- No performance-based equity (PSUs) disclosed for Gibbons; annual cash bonus plan exists but paid $0 for 2024, suggesting tight linkage to non-disclosed goals/outcomes or conservatism in early post-hire period .
- Double-trigger CIC protection (1x salary+target bonus plus equity acceleration) provides standard market-aligned retention without excessive parachute multiples .
Investment Implications
- Near-term unlocks: 25% of options vested in Jan 2025 with ongoing monthly vesting; RSU cliffs in Nov 2025 and Nov 2026 may create defined windows of incremental share supply depending on trading plans and market conditions .
- Alignment: Ownership is modest (<1%); equity is entirely time-based, so retention is incentivized but there is limited explicit performance-equity leverage; absence of a 2024 cash bonus payment suggests pay-for-performance discipline or underperformance versus undisclosed goals .
- Governance/Retention: Double-trigger CIC terms and standard non-CIC severance reduce flight risk while avoiding outsized parachutes; no pledging or ownership guideline disclosures found, which investors may monitor as the compensation program matures .