Jason Daly
Executive Vice President, Chief Legal Officer and Corporate Secretary at 
Amneal Pharmaceuticals
Amneal PharmaceuticalsExecutive
About Jason Daly
Jason B. Daly is Executive Vice President, Chief Legal Officer and Corporate Secretary at Amneal (AMRX), serving in the EVP role since March 2025; previously SVP, Chief Legal Officer and Corporate Secretary from January 2022 . He is age 51 as of March 14, 2025; holds degrees from the University of Pennsylvania Law School and the University of Rhode Island; licensed in NJ, MA, and RI; with prior leadership roles at Teva (SVP, U.S. Market Access; General Counsel – U.S. Generics & North American Commercial) and The Straumann Group; and certificates from Kellogg, Wharton, and Boston University . Compensation decisions for Amneal executives explicitly reference non-GAAP measures such as adjusted EBITDA, adjusted EPS, and net leverage; the compensation committee uses these measures to evaluate management performance and set compensation . Company performance in Q3 2025 included net revenue of $785M (+12% YoY) and adjusted EBITDA of $160M (+1% YoY) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Teva Pharmaceuticals, Inc. | Senior Vice President, U.S. Market Access; General Counsel – U.S. Generics & North American Commercial | — | Led legal and commercial strategies for large-scale pharma operations |
| The Straumann Group (Swiss medical device) | Legal and international commercial leadership roles | — | Nearly a decade shaping legal and commercial strategies internationally |
| Private practice | Attorney | — | Legal practice experience supporting corporate strategy |
| U.S. District Court (Rhode Island) | Law Clerk to Hon. Mary Lisi | — | Federal judiciary experience strengthening legal expertise |
External Roles
No external public company board roles disclosed for Mr. Daly in the 2025 proxy .
Fixed Compensation
| Item | 2024 | 2025 (as contracted) |
|---|---|---|
| Base Salary ($) | $510,000 | $575,000 (Employment Agreement effective March 1, 2025) |
| Target Bonus (% of base) | 55% | 55% |
| Actual Annual Incentive Paid ($) | $339,405 (121% of target: 110% company x 110% individual) | |
| 401(k) Match ($) | $17,250 | |
| Insurance Premiums Paid by Company ($) | $1,671 | |
| Perquisites | None disclosed beyond above items |
Performance Compensation
Annual Incentive Plan (AIP) – FY2024
| Metric | Target | Actual | Company Multiplier | Individual Multiplier | Payout ($) | Notes |
|---|---|---|---|---|---|---|
| Adjusted EBITDA | $600M | $627.4M | 110% (Committee discretion from 109.2%) | 110% (M&A/collaborations/legal overhangs) | $339,405 | Target bonus 55% of base; calculation per formula in proxy |
2024 Equity Grants (Grant date: March 4, 2024; closing price $5.40)
| Award Type | Target Units (#) | Grant Date Fair Value ($) | Vesting | Performance Measure | Payout Range |
|---|---|---|---|---|---|
| RSUs | 143,519 | $775,003 | Four equal installments on Mar 4, 2025/2026/2027/2028 | Time-based retention | n/a |
| PSUs | 143,519 (target) | $747,734 | 3-year period; market-based; 3/1/2023–2/28/2026 | Stock price growth (NASDAQ) | 50% threshold; 200% maximum |
Outstanding Equity as of Dec 31, 2024 (select awards pertinent to vesting pressure)
| Award | Unvested Units (#) | Market/Payout Value ($) | Key Dates / Notes |
|---|---|---|---|
| RSUs (granted prior to 2024) | 45,290 | $358,697 | Vest on Mar 3, 2025 & Mar 3, 2026 |
| RSUs (granted prior to 2024) | 114,679 | $908,258 | Vest on Mar 3, 2025/2026/2027 |
| RSUs (2024 grant) | 143,519 | $1,136,370 | Vest on Mar 4, 2025/2026/2027/2028 |
| PSUs (2022–2025 period) | 90,580 (target) | $717,394 | Vest after period ends; payout estimated at 100% of target |
| PSUs (2023–2026 period) | 305,810 (maximum) | $2,422,015 | Market-based vesting after performance period |
Performance metrics are aligned with adjusted EBITDA for annual incentives and stock price growth for PSUs, with committee explicitly using non-GAAP measures in performance evaluation and compensation setting .
Equity Ownership & Alignment
| Ownership Component | Value |
|---|---|
| Shares of Common Stock owned | 32,606 |
| Options | None |
| RSUs counted as beneficial (within 60-day window) | None disclosed in beneficial ownership table |
| Total beneficial ownership (SEC definition) | 32,606 |
| Shares outstanding (Class A) | 313,382,260 (as of Mar 14, 2025) |
| Ownership as % of shares outstanding | ~0.0104% (32,606 / 313,382,260) |
| Executive stock ownership guideline | 2x base salary for executives |
| Guideline compliance status | All NEOs in compliance (includes Daly) |
| Hedging policy | Prohibits hedging and short sales for executives/directors |
| Pledging policy | Directors/executive officers (non-Amneal Group Members) prohibited from pledging company stock |
| Clawback | SEC-compliant clawback for erroneously awarded incentive-based comp |
Employment Terms
| Term | Detail |
|---|---|
| Role | EVP, Chief Legal Officer & Corporate Secretary (since March 2025); previously SVP CLO & Corporate Secretary (Jan 2022–Feb 2025) |
| Employment Agreement | Effective March 1, 2025 |
| Base Salary | $575,000 |
| Target Bonus | 55% of base, with personal performance multiplier 0–150% |
| Severance (no CIC) | 150% of then-current base salary; prorated AIP based on actual performance; 18 months benefits; 12 months outplacement |
| Severance (double-trigger CIC) | Same severance; plus acceleration of vesting/exercisability for all equity awards; performance conditions measured based on actual achievement at termination; exercisability at least 12 months post-termination |
| Potential Payments (as of 12/31/2024) | Cash: $818,550 (no CIC); $936,242 (with CIC). Accelerated RSUs: $2,403,625 (with CIC). PSUs: $3,707,744 (all term scenarios). Health care & outplacement: $61,100 (no CIC); $72,200 (with CIC). Total: $4,587,394 (no CIC); $7,119,811 (with CIC) |
| Severance Plan (pre-2025) | Daly participated in Severance Plan during 2024 due to no individual agreement at that time |
Investment Implications
- Pay-for-performance alignment is evident: AIP tied to adjusted EBITDA with documented targets and multipliers; PSUs tied to stock price growth over multi-year windows; committee explicitly references non-GAAP measures for evaluating and setting compensation .
- Vesting calendar creates periodic supply from RSUs and PSUs: meaningful RSU tranches in March (2025–2028) and PSUs across 2022–2025 and 2023–2026 periods; monitor potential insider selling pressure around vest dates and change-in-control acceleration risk .
- Ownership alignment is modest in absolute terms (~0.01% of shares), but policy safeguards are strong: 2x salary ownership guideline, anti-hedging/anti-pledging, and clawback policy reduce misalignment and governance risk .
- Retention and transition risk is contained via severance economics (150% salary plus benefits) and robust CIC protections (double-trigger acceleration); however, equity-heavy compensation mix and large PSU opportunity can incentivize focus on stock price outcomes, with potential volatility around performance windows .