Shelly Pinto
About Shelly Pinto
Shelly Pinto, 49, is Senior Vice President, Finance and Chief Accounting Officer at ALX Oncology; she has served as CAO since May 2021, SVP Finance since July 2023, and was Interim CFO from November 2024 to January 2025. She began her career in Deloitte’s audit practice and holds a B.S.B.A. in Accounting from Montana State University; prior roles include finance leadership at Tizona Therapeutics, InSite Vision, Bare Escentuals, and Dreyer’s Grand Ice Cream . Company pay-versus-performance disclosures show challenging shareholder returns recently (value of $100 investment: $17.27 in 2023; $7.77 in 2024) alongside continuing net losses, important context for incentive alignment .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| ALX Oncology | SVP, Finance; Chief Accounting Officer; Interim CFO | SVP Finance since Jul 2023; CAO since May 2021; Interim CFO Nov 2024–Jan 2025 | Led finance and accounting, bridged interim CFO role during transition |
| Tizona Therapeutics | VP Finance & Operations; VP Finance & Controller | Jul 2016–Apr 2021 (most recent roles Oct 2020–Apr 2021; Jan 2019–Oct 2020) | Scaled finance ops at oncology biotech |
| InSite Vision | Controller | Dec 2008–Jul 2016 | Corporate accounting leadership |
| Bare Escentuals | Assistant Controller | May 2007–Nov 2008 | Public-company reporting support |
| Dreyer’s Grand Ice Cream | Director Corp. Accounting & Reporting | Mar 2002–May 2007 | Led reporting/process controls |
| Deloitte & Touche | Audit (start of career) | n/d | Public accounting foundation |
External Roles
- No external public company directorships disclosed for Ms. Pinto in the 2025 proxy .
Fixed Compensation
| Component | FY 2024 | FY 2025 |
|---|---|---|
| Base Salary ($) | 378,776 | 435,592 (set for 2025) |
| Target Bonus (% of salary) | 40% | 40% |
| Actual Bonus Paid ($) | 122,420 (paid under 2024 plan) | n/a |
Additional historical reference: on hire (May 2021) base salary was $340,000 with 40% target bonus and a $75,000 signing bonus, later reflected as $350,200 “current” salary in the 2022 proxy .
Performance Compensation
Annual Cash Incentive (2024)
| Metric | Weighting | Target (calc.) | Actual | Payout factor | Payout ($) |
|---|---|---|---|---|---|
| Corporate goals | 80% | Part of 40% target bonus | 76% achievement | 60.8% (=80%×76%) | |
| Individual goals | 20% | Part of 40% target bonus | 100% achievement | 20.0% (=20%×100%) | |
| Total | 100% | Target bonus = 40% × $378,776 = $151,510 | 80.8% total | $122,420 (matches approved) |
Notes:
- NEO weighting: 80% corporate / 20% individual; corporate pool funded at 76% of target; individual goals at 100% .
- CEO uses 100% corporate weighting (for context) .
Equity Awards and Vesting (selected 2024 grants)
| Award type | Grant date | Shares/Options | Grant-date terms | Vesting |
|---|---|---|---|---|
| Stock options | 02/14/2024 | 35,000 options (7,291 exercisable; 27,709 unexercisable at 12/31/24) | Strike $15.84; 10-year term | 48 equal monthly installments beginning 03/14/2024 |
| RSUs | 02/14/2024 | 10,000 | 8 equal semiannual installments beginning 08/14/2024 | |
| PSUs | 02/14/2024 | 13,125 | Performance-based | 30% vests 1-year after positive ASPEN‑06 data; 70% vests 1-year after positive ASPEN‑03 or ‑04 data (if achieved) |
| Stock options | 12/02/2024 | 150,000 | Strike $1.66; 10-year term | 30 equal monthly installments beginning 01/02/2025 |
| 2024 grant-date fair value totals (equity) | Stock awards $396,000; Option awards $582,965 | As reported in SCT |
Additional outstanding awards with schedules:
- RSUs granted 07/25/2023: 8 equal semiannual installments beginning 12/28/2023 .
- Options granted 07/25/2023: 48 equal monthly installments beginning 08/03/2023 .
- RSUs granted 08/05/2022: 8 equal semiannual installments beginning 12/28/2022 .
- Options granted 08/05/2022: 48 equal monthly installments beginning 08/01/2022 .
- RSUs granted 01/28/2022: 3/8 vested 07/03/2023; remaining 5 equal semiannual installments thereafter .
- Options granted 07/30/2021: 48 equal monthly installments beginning 08/30/2021 .
- Options granted 05/03/2021: 25% on 05/03/2022; remainder monthly over 36 months .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 279,455 shares (43,227 shares held directly + 236,228 options exercisable within 60 days; 210,852 of those options vested) |
| % of shares outstanding | Below 1% as disclosed (“*” in table); 53,384,145 shares outstanding at 03/31/2025 |
| Unvested RSUs (as of 12/31/2024) | 10,000 (2/14/24 RSUs); 16,250 (7/25/23); 4,125 (8/05/22); 18,750 (1/28/22). PSUs: 13,125 (performance-contingent) |
| Options unexercisable (as of 12/31/2024) | 27,709 (2/14/24); 23,250 (7/25/23); 14,250 (8/05/22); 3,646 (7/30/21); 13,021 (5/03/21) |
| Hedging/pledging | Prohibited by the company’s Insider Trading Policy; preclearance required for certain insiders |
| Ownership guidelines | Not disclosed in the proxy for executives (no guideline section identified) |
Vesting cadence and potential selling pressure:
- RSUs vest in semiannual tranches per schedules above; options vest monthly across multiple grants. Trading remains subject to the company’s insider trading policy (blackouts and preclearance) .
Employment Terms
| Aspect | Terms (Shelly Pinto) |
|---|---|
| Employment status | At-will; confirmatory employment letter effective May 3, 2021 |
| 2025 base salary | $435,592; target cash bonus 40% of salary |
| 2024 base salary | $378,776; target cash bonus 40% of salary |
| Standard severance (non‑CIC) | If terminated without cause or resigns for good reason (outside CIC period): lump sum equal to 100% of base salary + prorated 100% of target bonus + up to 12 months COBRA |
| Change‑in‑control (CIC) severance | If terminated without cause/for good reason during CIC period: lump sum equal to 100% of base salary + 100% of target bonus; up to 12 months COBRA; 100% acceleration of time-based equity (performance-based awards excluded) |
| Clawback | Compensation Recovery Policy adopted July 2023; awards subject to clawback per SEC/Nasdaq rules |
| Hedging/pledging | Hedging and pledging prohibited |
| Non‑compete/non‑solicit | Not disclosed in the proxy |
Compensation Structure Analysis
- Pay mix and alignment: For 2024, Ms. Pinto’s total comp ($1.51M) was balanced between cash (salary + bonus) and significant equity (stock awards $396k; options $583k), reinforcing longer-dated alignment via monthly/semiannual vesting .
- Performance sensitivity: 2024 annual bonus funded at 76% on corporate goals and 100% on individual goals (80/20 weighting for NEOs), yielding an 80.8% payout of target; actual bonus $122,420, consistent with formulaic performance funding .
- Equity instrument mix: Continued use of time-based options and RSUs, with performance-based RSUs tied to program milestones (ASPEN studies), linking equity outcomes to value-critical pipeline readouts .
- Governance safeguards: Clawback policy in place; hedging/pledging prohibited; severance includes double-trigger CIC equity acceleration for time-based awards; no excise tax gross-ups .
Say‑on‑Pay & Shareholder Feedback
- 2024 say‑on‑pay approval: 97% support, indicating broad investor acceptance of the program structure at that time .
Risk Indicators & Retention Considerations
- Organizational changes: A 30% workforce reduction announced in March 2025 underscores cost-preservation and pipeline-prioritization—potentially elevating retention risk across functions despite existing severance/CIC protections .
- Leadership transitions: Pinto served as Interim CFO (Nov 2024–Jan 2025) amid CFO turnover, then returned to CAO/SVP Finance with a 2025 salary adjustment, supporting continuity in finance leadership .
Investment Implications
- Incentive alignment: Pinto’s incentives are linked to company/pipeline execution—cash bonus funding reflects corporate goal attainment; performance-based RSUs hinge on key ASPEN data events, sharpening alignment with value inflection points .
- Vesting-driven flow: Semiannual RSU and monthly option vesting create periodic supply overhang potential, though actual sales are constrained by blackout/preclearance policies; net selling pressure depends on tax withholding and personal decisions .
- Retention risk vs. safeguards: The 2025 RIF elevates retention risk; however, standard severance and double-trigger CIC terms reduce downside for key executives, while increased 2025 salary supports retention .
- Governance quality: Prohibitions on hedging/pledging and an adopted clawback policy are shareholder-friendly; strong 2024 say-on-pay support signals investor comfort with pay design .
Appendix — Key Tables
Summary Compensation (select years)
| Year | Salary ($) | Bonus ($) | Stock Awards ($) | Option Awards ($) | Non‑Equity Incentive Plan Comp ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2024 | 378,776 | 25,000 | 396,000 | 582,965 | 122,420 | 1,505,161 |
| 2021 | 340,000 target base on hire; $90,542 earned bonus (prorated) | 75,000 sign‑on bonus | — | Options: 125,000 (5/3/21); 25,000 (7/30/21) | — | — |
Outstanding Equity (as of 12/31/2024) — Shelly Pinto
| Type | Grant date | Exercisable | Unexercisable | Strike | Expiry | RSUs/PSUs unvested | Notes |
|---|---|---|---|---|---|---|---|
| Option | 12/02/2024 | — | 150,000 | 1.66 | 12/01/31 | — | 30 monthly installments from 01/02/2025 |
| RSU | 02/14/2024 | — | — | — | — | 10,000 | 8 semiannual installments from 08/14/2024 |
| PSU | 02/14/2024 | — | — | — | — | 13,125 | Vests on ASPEN milestones (time-lagged) |
| Option | 02/14/2024 | 7,291 | 27,709 | 15.84 | 02/13/34 | — | 48 monthly from 03/14/2024 |
| RSU | 07/25/2023 | — | — | — | — | 16,250 | 8 semiannual from 12/28/2023 |
| Option | 07/25/2023 | 12,750 | 23,250 | 5.86 | 07/24/33 | — | 48 monthly from 08/03/2023 |
| RSU | 08/05/2022 | — | — | — | — | 4,125 | 8 semiannual from 12/28/2022 |
| Option | 08/05/2022 | 21,750 | 14,250 | 11.47 | 08/04/32 | — | 48 monthly from 08/01/2022 |
| RSU | 01/28/2022 | — | — | — | — | 18,750 | 3/8 vested 07/03/2023; then 5 semiannual |
| Option | 07/30/2021 | 21,354 | 3,646 | 58.56 | 07/29/31 | — | 48 monthly from 08/30/2021 |
| Option | 05/03/2021 | 111,979 | 13,021 | 62.83 | 05/03/31 | — | 25% at 05/03/2022; then 36 monthly |
Beneficial Ownership (as of 03/31/2025)
| Holder | Shares held | Options exercisable ≤60 days | Total beneficial ownership | % of outstanding |
|---|---|---|---|---|
| Shelly Pinto | 43,227 | 236,228 (210,852 vested) | 279,455 | “*” (less than 1%) |
Governance/Policies (selected)
- Hedging/pledging prohibited; insider preclearance required for certain individuals
- Compensation Recovery (clawback) policy adopted July 2023
- Say-on-pay: 97% approval in 2024
- Compensation consultant: Compensia engaged; peer benchmarking utilized historically (e.g., 2021 options approach)
Organizational Updates Relevant to Retention
- 30% workforce reduction announced Feb 28, 2025, to be substantially completed by end of May 2025 (severance/benefits cost est. ~$2.2M) .
All data above is drawn from ALX Oncology’s 2025 DEF 14A (filed Apr 21, 2025) and ALXO Form 8-Ks as cited.