Glenn R. Larsen, Ph.D.
Director at ANIK
Board
About Glenn R. Larsen, Ph.D.
Independent director of Anika Therapeutics (ANIK) since February 2015; age 71. Chairman, President, CEO and co‑founder of Aquinnah Pharmaceuticals (neurodegenerative drug development). Education: Ph.D. in Biochemistry (Stony Brook University) and PMD (Harvard University). Career spans leadership in pharmaceutical R&D, device/drug delivery, and biotech operations with documented innovation and product approvals.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Aquinnah Pharmaceuticals, Inc. | Chairman, President & CEO; Co‑founder | Feb 2014 – Present | Neuroscience focus (ALS/Alzheimer’s); drug development leadership |
| 180 Therapeutics L.P. | Chairman, President & CEO | 2013 – 2020 (merged into NASDAQ‑listed 180 LifeSciences in 2020) | Musculoskeletal drug development; transaction culminated in public listing of successor |
| SpringLeaf Therapeutics, Inc. | Chief Scientific Officer & EVP R&D | 2010 – 2013 | Combination drug delivery devices |
| Hydra Biosciences, Inc. | COO; EVP R&D; Director | 2003 – 2010 | Biopharma pain therapeutics; operational and R&D oversight |
| Wyeth (now Pfizer)/Genetics Institute | VP Musculoskeletal Sciences; Global Development Board | Prior to 2003 | Directed Enbrel and Infuse Bone Graft programs; 15 drugs advanced, 5 approvals |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Aquinnah Pharmaceuticals | Chairman, President & CEO | 2014 – Present | Private company; board/management role |
| 180 Therapeutics L.P. | Chairman of Board; CEO | 2013 – 2020 | Predecessor to 180 LifeSciences via merger; historical (not current public directorship) |
| Current public company boards | — | — | None disclosed beyond ANIK |
Board Governance
- Committee assignments: Compensation Committee (member); Governance & Nominating Committee (member). Not a chair. Independent under NASDAQ/SEC standards.
- Attendance and engagement: Board met 16 times in 2024; each director attended ≥75% of Board meetings during their term. Standing committees held 15 meetings; each member attended ≥75%. Independent directors meet in executive session.
- Board leadership: Independent Chair; roles of Chair and CEO separated for oversight effectiveness.
- Independence: Board affirmed independence of all non‑CEO directors.
Fixed Compensation (Director)
| Component | 2024 Policy Amount (USD) | Applied to Larsen (USD) |
|---|---|---|
| Board Director Retainer | $50,000 | $50,000 (member) |
| Compensation Committee – Member | $7,500 | $7,500 |
| Governance & Nominating – Member | $5,000 | $5,000 |
| Total Cash Fees Earned (2024) | — | $62,500 |
Notes:
- Chair premiums not applicable to Larsen (not a committee chair).
- Audit and Capital Allocation fees listed for completeness; Larsen not a member.
Performance Compensation (Director Equity)
| Grant Type | Grant Date | Shares/Units | Grant Date Fair Value (USD) | Vesting |
|---|---|---|---|---|
| Annual RSU (non‑employee director) | Jul 9, 2024 | 5,771 RSUs | $149,988 | Vests in one installment on the earlier of immediately prior to 2025 Annual Meeting or one year from grant |
| RSU award Form 4 reference | Jul 11, 2024 (filed) | — (RSUs represent right to 1 share each) | — | RSUs vest in full on earlier of 2025 annual meeting or Jul 9, 2025 |
Additional equity policy:
- No director stock options outstanding as of Dec 31, 2024.
- Annual director equity was reduced from $175,000 to $150,000 for 2024, signaling share usage discipline.
- Plan limits: annual max total value for non‑employee director awards $425,000; Chair $500,000.
Performance metrics:
- No performance‑conditioned metrics tied to director RSUs; awards are time‑based under the Director Compensation Policy.
Other Directorships & Interlocks
| Area | Details |
|---|---|
| Other public company boards | None disclosed for Larsen beyond ANIK. |
| Committee interlocks | Compensation Committee composed entirely of independent directors; no interlock disclosures impacting independence were noted in retrieved sections. |
| Activism/cooperation context | Company entered Cooperation Agreement with Caligan Partners in May 2024, adding Capper and Jellison and shaping Capital Allocation Committee; governance environment monitored by Board. |
Expertise & Qualifications
- Executive leadership; R&D/innovation; regulatory; manufacturing; M&A/business development; international; public company governance/corporate responsibility; human capital management.
Equity Ownership
| Metric | As of May 17, 2024 | As of Apr 21, 2025 |
|---|---|---|
| Beneficial Shares | 30,323 shares (incl. 6,500 RSUs vesting within 60 days) | Less than 1% of outstanding; includes 5,771 RSUs vesting within 60 days |
| Ownership % | <1% | <1% |
| Options | None (director level) | None (director level) |
Alignment policies:
- Directors in compliance with stock ownership guidelines. Hedging and pledging prohibited (exceptions to pledging only by CFO approval under strict conditions).
Insider Trades (Form 4 summary)
| Date Filed | Transaction Date | Security | Quantity | Notes |
|---|---|---|---|---|
| Jul 11, 2024 | Jul 9, 2024 | RSUs (common stock equivalent) | 5,771 | Annual director RSU grant; vests by 2025 annual meeting or 1‑year anniversary |
| Jun 24, 2025 | Jun 20, 2025 | — | — | Form 4 filed; director transaction reported (details in filing) |
Note: Public trackers show an ANIK insider activity entry of 14,164 shares on Jun 19, 2025 for Larsen (buy classification), but investors should confirm quantities directly from the SEC Form 4 documents.
Say‑on‑Pay & Shareholder Feedback
| Year | Outcome |
|---|---|
| 2023 | ~89% approval of executive compensation program |
| 2024 | ~89% approval of executive compensation program; ongoing direct engagement with holders (~40% of outstanding) |
Governance Assessment
- Independence and engagement: Larsen is independent, active on two key governance committees, and met the ≥75% attendance threshold alongside peers—supports board effectiveness.
- Compensation alignment: Director pay mix emphasizes modest cash retainers and time‑vesting RSUs; annual director equity reduced to $150k in 2024, indicating discipline in equity usage and dilution management.
- Ownership alignment: Compliance with stock ownership guidelines; no options/outstanding director options; prohibition on hedging/pledging enhances alignment.
- Conflicts and related‑party exposure: Company disclosed no reportable related‑party transactions from Jan 1, 2024 to Apr 21, 2025; governance policies mandate Audit Committee review of any potential related‑party transactions. Larsen’s role at Aquinnah (private neurodegenerative firm) presents low overlap with ANIK’s HA/orthopedics focus; no transactions disclosed.
- RED FLAGS: None disclosed for Larsen in retrieved documents (no related‑party transactions, no hedging/pledging, strong attendance). Monitoring points include activism context (Caligan Cooperation Agreement) and continued oversight via Capital Allocation and Compensation Committees.
Implications: Larsen’s deep R&D and regulatory background complements ANIK’s pipeline and HA‑based portfolio. His committee roles (Compensation; Governance & Nominating) and independence, combined with clean related‑party disclosures and ownership policy compliance, are net positives for investor confidence. The reduction in director equity grants and robust attendance further support board credibility.