Eric Loumeau
ANAPTYSBIOAbout Eric Loumeau
Eric Loumeau, J.D., age 61, is Chief Legal Officer at AnaptysBio (since May 2023), previously serving as Chief Operating Officer (July 2020–May 2023), General Counsel (August 2018–May 2023), and Interim Chief Financial Officer (September 2019–July 2020). He holds a J.D. from UC Berkeley’s Boalt Hall and a B.S. in Finance from BYU, with prior leadership roles spanning legal, finance, and operations in biotech and at top law firms . Company performance indicators during 2022–2024 show negative TSR (value of initial $100 investment: $89 in 2022, $62 in 2023, $38 in 2024) and net losses of $(128.7)M, $(163.6)M, and $(145.2)M respectively, framing a challenging shareholder return backdrop for pay-for-performance alignment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| AnaptysBio | Chief Legal Officer | May 2023–present | Leads legal, compliance, and secretary functions; senior advisor to CEO |
| AnaptysBio | Chief Operating Officer & General Counsel | July 2020–May 2023 | Led business strategy, operations, legal; operational continuity through leadership transitions |
| AnaptysBio | Interim Chief Financial Officer | Sep 2019–July 2020 | Bridged finance leadership; reinforced cross-functional executive coverage |
| Otonomy, Inc. | General Counsel & Chief Compliance Officer | May 2015–Mar 2018 | Built legal/compliance infrastructure in commercial-stage biotech |
| Rempex Pharmaceuticals, Inc. | Chief Financial Officer | Jun 2011–Dec 2013 | Finance leadership through acquisition by The Medicines Company |
| Rempex Pharmaceuticals, Inc. | Vice President of Legal Affairs | Dec 2013–May 2015 | Legal integration post-acquisition; supported regulatory/commercial activities |
| Hollis-Eden Pharmaceuticals, Inc. | General Counsel | Over seven years | Long-tenure GC; broad corporate governance and transactional oversight |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Skadden, Arps, Slate, Meagher & Flom LLP | Outside corporate counsel | Various | Securities/corporate law expertise; complex transactions |
| Cooley LLP | Outside corporate counsel | Various | Life sciences corporate practice experience |
| Mintz Levin Cohn Ferris Glovsky & Popeo PC | Outside corporate counsel | Various | Corporate/securities advisory |
| Bass, Berry & Sims PLC | Outside corporate counsel | Various | Corporate law practice |
Fixed Compensation
- Base salary and bonus targets reflect market benchmarking and role changes; his target bonus was reset to 40% when he became CLO on May 8, 2023 (previously 45% as COO/GC) .
- Perquisites disclosed as 401(k) match and group term life insurance .
| Metric | 2022 | 2023 |
|---|---|---|
| Salary ($) | $474,830 | $493,823 |
| Target Bonus % | 45% (as COO/GC) | 40% (as CLO) |
| Non-Equity Incentive ($) | $197,648 | $197,529 |
| All Other Compensation ($) | $13,115 | $30,650 |
| Total Compensation ($) | $3,841,763 | $2,258,185 |
Historical base salary reference: $381,000 in 2019 as GC .
Performance Compensation
- Annual bonus funded entirely by corporate goals; 2023 goals achieved at 100% of target, driving his bonus payout in alignment with plan rules .
- 2023 goal categories emphasize clinical execution, portfolio planning, budget discipline, and talent/culture.
| Metric Category (2023 Plan) | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Rosnilimab: Initiate Phase 2 in RA by Q3’23; second Phase 2 decision by YE’23 | Not disclosed | Qualitative milestones | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| ANB032 BTLA agonist: Initiate Phase 2 in AD in Q2’23 | Not disclosed | Qualitative milestones | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| Portfolio planning & Corp Dev: Align multi-year integrated plan | Not disclosed | Qualitative alignment | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| Imsidolimab: Gemini-1 primary endpoint by 10/31/23 | Not disclosed | Qualitative milestone | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| Early portfolio: ANB033 on track for 2024 Phase 1 | Not disclosed | Qualitative milestone | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| Finance: Manage opex to budget | Not disclosed | Budget adherence | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
| Talent & Culture: Leadership retention/development | Not disclosed | Talent goals | Achieved per committee review | 100% corporate funding | Annual bonus for FY2023 |
Note: 2024 corporate goals funded at 75% due to AD trial not meeting statistical significance and negative shareholder return; Loumeau was not a 2024 NEO and is not in the 2024 SCT, but plan context informs overall performance culture .
Equity Ownership & Alignment
- Beneficial ownership has increased over time, primarily via vested options; no pledging disclosures observed in security ownership tables.
| As-of Date | Shares Beneficially Owned (#) | % of Shares Outstanding | Direct Shares (#) | Options/RSUs Exercisable within 60 days (#) |
|---|---|---|---|---|
| Mar 15, 2020 | 28,438 | <1% | Not disclosed | Not disclosed |
| Apr 11, 2022 | 145,887 | <1% | 523 | 145,364 |
| Mar 24, 2023 | 221,885 | <1% | — | 221,885 |
| Apr 1, 2024 | 301,937 | 1.1% | 3,240 | 298,697 |
Insider selling pressure indicator:
- Rule 10b5-1 plan adopted April 11, 2025 for potential sale of up to 59,828 shares; scheduled to terminate no later than May 20, 2026 .
Outstanding Equity Awards (as of Dec 31, 2022)
| Grant Date | Options Exercisable (#) | Options Unexercisable (#) | Exercise Price ($) | Expiration | RSUs Unvested (#) | RSUs Market Value ($) |
|---|---|---|---|---|---|---|
| 08/06/2018 | 40,000 | — | 78.18 | 08/05/2028 | — | — |
| 02/08/2019 | 33,542 | 1,458 | 68.89 | 02/07/2029 | — | — |
| 08/18/2019 | 14,583 | 2,917 | 49.20 | 08/17/2029 | — | — |
| 12/06/2019 | 58,500 | 24,500 | 14.02 | 12/05/2029 | — | — |
| 07/13/2020 | 3,542 | 3,958 | 20.16 | 07/12/2030 | — | — |
| 02/10/2021 | 10,000 | — | 29.70 | 02/09/2031 | — | — |
| 02/10/2021 | 20,625 | 24,375 | 29.70 | 02/09/2031 | — | — |
| 02/10/2022 | — | 70,000 | 30.44 | 02/09/2032 | — | — |
| 12/15/2022 | — | 15,000 | 28.64 | 12/14/2032 | — | — |
| 12/15/2022 | — | 15,000 | 28.64 | 12/14/2032 | — | — |
| 09/14/2022 | — | — | — | — | 12,000 | $371,880 (at $30.99) |
Vesting:
- Most options vest over 4 years: 25% at first anniversary, then monthly over 36 months, contingent on continued service .
- 07/15/2020 COO appointment grant: 10,000 options, 25% vesting at one-year anniversary, then monthly for 36 months .
Employment Terms
| Term | Loumeau Employment Agreement |
|---|---|
| Current Title/Effective Date | Chief Legal Officer, effective May 8, 2023 |
| Target Annual Bonus % | 40% (set in A&R Agreement May 8, 2023) |
| At-Will Employment | Yes |
| Severance (termination without cause or resignation for good reason) | 9 months salary continuation + up to 9 months COBRA premiums with release |
| Change-in-Control (double trigger within 13 months) | 12 months severance + COBRA; full vesting of outstanding stock options; payment of full target bonus and prorated actual bonus; requires release |
| 280G Treatment | “Better after-tax” cutback (no gross-up) |
| Location | San Diego office; travel as needed |
Clawbacks, non-compete, non-solicit, pledging/hedging policies: not specifically disclosed in cited materials; skip if undisclosed.
Investment Implications
- Alignment: Material personal exposure via significant vested options and incremental direct share ownership (301,937 beneficial shares as of April 1, 2024; 1.1%), with no pledging disclosures—supportive of alignment . 2023 bonus tied fully to corporate goals achieved at 100%, consistent with pay-for-performance mechanics .
- Retention and selling pressure: Standard biotech vesting schedules and a Rule 10b5-1 plan to sell up to 59,828 shares through May 2026 suggest routine liquidity management; not a concentrated near-term overhang, but monitor executions against plan cadence .
- Change-of-control economics: Double-trigger acceleration of options and 12 months severance with target/prorated bonus introduces potential dilution/overhang in an M&A scenario, but 280G “better after-tax” limits gross-up risk .
- Compensation structure trends: 2023 vs 2022 shows lower option grant value and higher RSU value, indicating a shift toward more balanced equity mix; cash compensation relatively stable, which is modest given negative TSR and continuing net losses—mitigates pay inflation concerns but underscores the need for clinical milestones to translate to returns .
- Execution track record: Multi-disciplinary leadership across legal, operations, and finance provides continuity; corporate goals centered on advancing Rosnilimab/ANB032 and portfolio planning were met in 2023, but 2024 AD trial miss and negative TSR highlight ongoing execution and capital allocation risk at the company level .