Hollings Renton
ANAPTYSBIOAbout Hollings Renton
Hollings Renton (age 78) is an independent Class III director of AnaptysBio (ANAB), serving since June 2015. He holds an MBA from the University of Michigan and a BS in Mathematics from Colorado State University, and previously served as CEO/President of Onyx Pharmaceuticals and senior executive at Cetus and Chiron, bringing deep biopharma operating and board experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Onyx Pharmaceuticals, Inc. | Chief Executive Officer & President; Chair of Board | CEO/President 1993–2008; Chair 2000–2008 | Led company through growth in oncology; extensive executive leadership |
| Chiron Corporation (post-Cetus acquisition) | President & COO | 1991–1993 | Integrated operations post-acquisition |
| Cetus Corporation | CFO; COO; President | CFO 1983–1987; COO 1987–1990; President 1990–1991 | Senior finance/operations leadership at pioneering biotech |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Zymeworks Inc. | Director | 2017–2024 | Prior public company board service ended in 2024 |
| Portola Pharmaceuticals, Inc. | Director | Mar 2010–Jun 2020 | Prior public company board service |
Board Governance
- Committee assignments: Chair, Nominating & Corporate Governance Committee; members: Oleg Nodelman, John Orwin, J. Anthony Ware .
- Independence: Board affirmatively determined Renton is independent under Nasdaq and SEC rules .
- Attendance/engagement: In 2024, Board held 8 meetings; Audit 4; Compensation 4; Nominating & Corporate Governance 3; no director attended fewer than 75% of applicable meetings; 9 directors attended the 2024 annual meeting; independents meet in regular executive sessions without management .
- Board leadership: ANAB separates CEO (Daniel Faga) and Chairman (John Orwin), supporting independent oversight .
Fixed Compensation
| Item | Policy Detail (2024) | Renton’s 2024 Amount |
|---|---|---|
| Annual cash retainer | $40,000 | Included in fees |
| Nominating & Governance Chair fee | $10,000 | Included in fees |
| Committee member fees | Audit $10,000; Compensation $6,750; Nominating $5,000; R&D $10,000 | N/A (not committee member beyond chair) |
| Non-Executive Chair add’l retainer | $35,000 | N/A (Orwin is Chair) |
| Total cash fees paid | — | $50,000 |
| Notes on policy changes | 2024 increased: Compensation Chair $15,000 (from $12,500), Compensation Member $6,750 (from $6,000), Nominating Chair $10,000 (from $8,000), Audit Member $10,000 (from $9,000) | — |
Performance Compensation
| Component | Vesting / Terms | 2024 Value to Renton |
|---|---|---|
| Annual stock option grant (typical) | 16,510 shares; vests monthly over 1 year, subject to continued service | Option awards fair value: $248,918 |
| Annual RSU grant (typical) | 6,030 RSUs; vest at next annual meeting, subject to continued service | Stock awards fair value: $127,776 |
| Change-in-control terms | All non-employee director equity awards accelerate in full upon a change in control | Applies to Renton’s awards |
| Performance metrics tied to director pay | None disclosed (director equity awards are time-based) | N/A |
Other Directorships & Interlocks
| Company | Overlap with ANAB suppliers/customers/holders | Conflict Risk |
|---|---|---|
| Zymeworks; Portola (prior) | None disclosed with ANAB’s major counterparties | No related-party transactions disclosed |
Expertise & Qualifications
- Former CEO/Chair at Onyx and senior executive at Cetus/Chiron, providing extensive biotech operating, M&A and governance experience .
- Advanced finance/operations background (CFO/COO roles); MBA (University of Michigan); BS Mathematics (Colorado State University) .
- Long-tenured board service at multiple public biopharmas (Zymeworks, Portola) .
Equity Ownership
| Measure (as of April 1, 2025) | Amount | Notes |
|---|---|---|
| Shares owned directly | 1,950 shares | Per beneficial ownership footnote |
| Options exercisable within 60 days | 121,969 shares | Per beneficial ownership footnote |
| RSUs outstanding (as of Dec 31, 2024) | 6,030 RSUs | Per director compensation footnote |
| Total beneficial ownership | 123,919 shares | “*” less than 1% of shares outstanding |
| Hedging/pledging | Prohibited under Insider Trading Policy | Alignment positive |
Governance Assessment
-
Strengths:
- Independent director; chairs the Nominating & Corporate Governance Committee, indicating active role in board composition, governance guidelines, and board performance evaluation .
- Solid attendance and engagement; independent director executive sessions held regularly .
- Director equity is time-based with formal change-in-control treatment; hedging/pledging prohibited, supporting alignment with shareholders .
- No related-party transactions reported involving Renton; Board employs independent compensation consultants (shift from Compensia to Alpine Rewards in Sept 2024) .
-
Watch items:
- Tenure since 2015 (board refresh planning should be part of committee oversight) .
- Age 78 suggests succession/refresh considerations, albeit with valuable experience .
- Full acceleration of director equity upon change-in-control is common in small-cap biotech but can be perceived as shareholder-unfriendly by some investors; investors may prefer double-trigger terms for executives, though director awards are time-based .
-
Red flags:
- None disclosed for conflicts, related-party transactions, hedging/pledging, or attendance shortfalls .
Overall implication: Renton’s profile reflects seasoned governance leadership, independence, and reliable engagement. His chair role in Nominating & Governance and lack of conflicts support investor confidence; succession planning and board refresh are natural focus areas given tenure and age .
Appendix: Director Compensation Table (2024)
| Name | Fees Earned ($) | Option Awards ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|---|
| Hollings Renton | $50,000 | $248,918 | $127,776 | $426,694 |
Appendix: Director Compensation Policy (2023 vs 2024)
| Item | 2023 | 2024 |
|---|---|---|
| Retainer | $40,000 | $40,000 |
| Audit Chair | $20,000 | $20,000 |
| Audit Member | $9,000 | $10,000 |
| Compensation Chair | $12,500 | $15,000 |
| Compensation Member | $6,000 | $6,750 |
| Nominating & Governance Chair | $8,000 | $10,000 |
| Nominating & Governance Member | $5,000 | $5,000 |
| R&D Chair | $15,000 | $15,000 |
| R&D Member | $10,000 | $10,000 |
| Non-Executive Chair | $32,500 | $35,000 |
References
- ANAB 2025 Proxy (DEF 14A): independence; committees; attendance; director comp; equity plan; related-party policy .
- ANAB 2024 Proxy (DEF 14A): governance structure; independence; director roles; prior year comp policy details .