Renee Tannenbaum
ANI PHARMACEUTICALSAbout Renee P. Tannenbaum
Renee P. Tannenbaum, Pharm.D., 73, has served as an independent director of ANI Pharmaceuticals since March 2022. She is Chair of the Nominating & Corporate Governance Committee (since May 2024) and a member of the Compensation Committee. Her background includes senior operating and partnering roles in biopharma (Halozyme VP Global Partnering; AbbVie Head of Global Customer Excellence), and she holds a Pharm.D. (Philadelphia College of Pharmacy and Sciences), an MBA (Temple University), and a B.S. in Pharmacy (University of Connecticut) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Halozyme, Inc. | Vice President, Global Partnering | Aug 2016 – Jul 2021 | Led BD and alliance management |
| AbbVie | Head, Global Customer Excellence | Oct 2012 – Jan 2016 | Built commercial capabilities |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Cardiff Oncology, Inc. | Director | Current | Public company board |
| Bench International | Head of Corporate Development | Since Mar 2024 | Executive search firm focused on biotech/life sciences |
| Zogenix, Inc. | Director | Prior | U.S. public company (prior) |
| Nordic Nanovector ASA | Director | Prior | Foreign public company (prior) |
| Cipher Pharmaceuticals, Inc. | Director | Prior | Foreign public company (prior) |
| Sharps Compliance Inc. | Director | Prior | Private company (prior) |
| Immune Pharmaceuticals, Inc. | Director | Prior | Private company (prior) |
Board Governance
- Independence: The Board determined Dr. Tannenbaum is independent under SEC and Nasdaq rules .
- Meetings/Attendance: The Board held 15 meetings in 2024; no current director attended below 75% of Board and committee meetings in 2024. Compensation Committee met 7 times; Nominating & Corporate Governance met 4 times .
| Committee | Role | Independent | 2024 Meetings |
|---|---|---|---|
| Nominating & Corporate Governance | Chair (since May 2024) | Yes | 4 |
| Compensation | Member | Yes | 7 |
- ESG Oversight: As Chair, her committee oversees ESG programs/policies and annual board/committee evaluations .
Fixed Compensation
Policy (non-employee directors; 2024):
- Annual cash retainer: $59,250; Committee Chair retainers: Audit & Finance $25,000; Compensation $20,000; Nominating & Corporate Governance $15,000; Committee member retainers: Audit & Finance $12,500; Compensation $10,000; Nominating & Corporate Governance $7,500; No meeting fees .
| Year | Fees Earned (Cash) | Notes |
|---|---|---|
| 2023 | $71,908 | As director and committee member (no meeting fees) |
| 2024 | $79,449 | Reflects chair/member retainers per policy |
Performance Compensation
Policy (equity):
- Annual equity grant to incumbent non-employee directors upon re-election with grant-date fair value of $290,000; 2024 grant sized at 4,410 RS shares, vesting on first anniversary. New director initial grant at $435,000 grant-date value vests in three equal annual installments .
| Grant Date/Year | Instrument | Shares | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| 2024 (May) | Restricted Stock | 4,410 | Company policy equals $290,000; CD&A value recorded for Tannenbaum: $272,141 | 100% on first anniversary |
| 2023 (May) | Restricted Stock | 6,865 | $320,458 (ASC 718) | 100% on first anniversary |
| 2022 (Mar, initial) | Restricted Stock | 13,346 | Initial grant (policy $435,000); Tannenbaum initial award disclosed; vests 1/3 annually on first, second, third anniversaries of appointment |
- Option awards: None granted to Dr. Tannenbaum in 2023–2024 (Option Awards $0) .
Other Directorships & Interlocks
- Compensation Committee Interlocks: In 2024 the Compensation Committee comprised Antonio Pera (Chair), Dr. Tannenbaum, and Jeanne Thoma; none were officers/employees and none had relationships requiring Item 404 disclosure; no executive officer of ANI served on another board’s compensation committee with any ANI executive (no interlocks) .
- Related-Party Transactions: Item 404 disclosures relate to Novitium founder relationships; no Item 404 related-party transactions disclosed involving Dr. Tannenbaum .
Expertise & Qualifications
- Degrees: Pharm.D. (Philadelphia College of Pharmacy and Sciences); MBA (Temple University); B.S., Pharmacy (University of Connecticut) .
- Skills: Executive leadership in biopharma partnering and commercial excellence; current governance experience across U.S. and foreign public companies .
- Board Role Fit: Governance chairmanship with ESG oversight and nomination processes; compensation oversight experience as committee member .
Equity Ownership
| Metric | Detail |
|---|---|
| Beneficial ownership (as of Mar 14, 2025) | 22,621 common shares; less than 1% of outstanding |
| Unvested restricted stock (as of Dec 31, 2024) | 8,859 shares |
| Options outstanding | 0 |
| Pledged shares | Anti-pledging policy prohibits margining/pledging by directors |
| Hedging | No standalone hedging policy; insider trading policy prohibits derivatives and short sales |
| Ownership guidelines | Minimum 4× annual cash retainer; 5-year compliance period; includes vested/unvested RS; all directors have achieved required levels (amended Nov 2024) |
Governance Assessment
- Strengths: Independent director with deep biopharma partnering/commercial pedigree; Chair of Nominating & Corporate Governance with ESG oversight; active committee structure and meeting cadence; attendance at or above 75% threshold; robust ownership guideline with confirmed compliance; anti-pledging and prohibitions on short sales/derivatives support alignment .
- Pay and alignment: Director pay is predominantly equity via RS; no options; 2024 total of $351,590 (cash $79,449; stock $272,141) and 2023 total of $392,366 (cash $71,908; stock $320,458), indicating high equity weighting and standard time-based vesting; no performance metrics or discretionary bonuses for directors disclosed .
- Conflicts/Related parties: Compensation Committee interlocks expressly none; Item 404 disclosures do not identify transactions involving Dr. Tannenbaum; governance controls require Audit & Finance Committee review of related-party transactions >$10,000 .
- Watch items: While hedging policy is not standalone, insider trading policy bans derivatives and short sales; continued monitoring for any engagements with Bench International would be prudent if the company were to retain that firm, though no such related-party transaction is disclosed .