Jung Choi
About Jung E. Choi
Independent Class II director at Annexon (ANNX) since June 2020; age 55 as of April 8, 2025. She is Chief Executive Officer and a director of Alterome Therapeutics (appointed April 2025). Prior roles include Chief Business & Strategy Officer at Global Blood Therapeutics (2015–2023; acquired by Pfizer in Oct 2022), SVP Corporate Development at InterMune (2014–2015; adviser 2013–2014), corporate/business development leadership at Chimerix (2011–2013) and Gilead Sciences (2001–2010). Education: B.A. Human Biology and M.B.A., Stanford University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Global Blood Therapeutics | Chief Business & Strategy Officer | Apr 2015 – Apr 2023 (GBT acquired by Pfizer Oct 2022) | Led corporate strategy, BD, R&D portfolio strategy, program management, patient advocacy, and government affairs . |
| InterMune | SVP, Corporate Development; Adviser (strategy/BD) | SVP Apr 2014 – Mar 2015; Adviser Mar 2013 – Apr 2014 | InterMune was acquired by Roche in 2014 . |
| Chimerix | Consultant and SVP, Corporate Development | Feb 2011 – Mar 2013 | Led corporate and business development . |
| Gilead Sciences | Various management roles (BD, licensing, M&A) | Aug 2001 – Aug 2010 | Built/oversaw corporate development; led U.S. launch of Hepsera for HBV . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alterome Therapeutics | Chief Executive Officer; Director | Since Apr 2025 | External operating role; adds oncology/BD expertise . |
Board Governance
| Item | Detail |
|---|---|
| Independence | Board determined all directors other than the CEO are independent; Choi qualifies as an independent director under Nasdaq rules . |
| Board tenure (ANNX) | Director since June 2020; Class II nominee at the 2025 annual meeting (term through 2028 if elected) . |
| Committee assignments (current) | Compensation Committee (Chair); Science & Technology Committee (member) . |
| Committee assignments (historical) | Served part of 2023 on the Audit Committee (transitional coverage) . |
| Committee activity (2024) | Meetings: Audit 4x, Compensation 4x, Nominating 2x, Science & Technology 5x . |
| Attendance | Board met 6 times in 2024; each director attended at least 85% of Board and committee meetings; all directors attended the 2024 annual meeting; independent directors met regularly in executive sessions . |
| Board leadership | Chair (Thomas G. Wiggans) separate from CEO; structure reviewed periodically . |
Fixed Compensation
| Component | Amount/Structure | Source |
|---|---|---|
| 2024 cash fees earned (Choi) | $57,250 | |
| Director annual cash retainer | $40,000 | |
| Committee chair fees | Audit $20,000; Compensation $12,000; Nominating $10,000; Science & Technology $12,000 | |
| Committee member fees | Audit $10,000; Compensation $6,000; Nominating $5,000; Science & Technology $6,000 | |
| Non-executive chair retainer | $35,000 (not applicable to Choi) |
Performance Compensation
| Item | Detail | Source |
|---|---|---|
| 2024 option award (grant-date fair value) | $239,238 (non-employee director equity) | |
| Equity program – Initial Grant | 110,000 options upon initial appointment/election; monthly vesting over 3 years; accelerates fully at change in control | |
| Equity program – Annual Grant | 55,000 options at each annual meeting; vests by next annual meeting or first anniversary; accelerates fully at change in control | |
| Director equity type and metrics | Time-based stock options (no performance metrics disclosed for director equity) |
Compensation Committee governance: Uses independent consultant (Alpine Rewards); committee assessed consultant independence; no consultant conflicts disclosed . Compensation Committee interlocks: none .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company directorships | None disclosed for Choi in ANNX proxy biography |
| Private company boards | Alterome Therapeutics (director) |
| Interlocks | No compensation committee/board interlocks with ANNX executives reported |
Expertise & Qualifications
- Business development/M&A leadership across large-cap and emerging biopharma; led product launch (Hepsera) at Gilead; senior strategy roles at GBT and InterMune .
- Governance experience as Compensation Committee Chair and S&T Committee member at ANNX .
- Stanford B.A. (Human Biology) and M.B.A. underpin strategic and operating breadth .
Equity Ownership
| Metric | Value | As-of | Source |
|---|---|---|---|
| Beneficial ownership (shares) | 94,322 (exercisable options within 60 days) | Mar 31, 2025 | |
| Percent of shares outstanding | <1% | Mar 31, 2025 | |
| Options outstanding (exercisable + unexercisable) | 138,322 | Dec 31, 2024 | |
| Hedging/Pledging | Company prohibits hedging and pledging by directors (no pledging allowed) | Policy in effect | |
| Ownership guidelines | Not disclosed in proxy | — | — |
Insider Trades
| Filing Date | Document Date | Form | Description/Notes | Link |
|---|---|---|---|---|
| Jun 9, 2025 | Jun 5, 2025 | Form 4 | Statement of changes in beneficial ownership (annual meeting date; director equity grants are governed by the Amended Director Compensation Program) | |
| Jun 7, 2024 | Jun 5, 2024 | Form 4 | Statement of changes in beneficial ownership (annual meeting date) |
As a reference point for amounts, the Amended Director Compensation Program provides for an Annual Grant of 55,000 options on the date of each annual meeting, subject to vesting and change-in-control acceleration terms .
Governance Assessment
- Board effectiveness: Choi chairs the Compensation Committee and serves on the Science & Technology Committee, indicating broad governance engagement across pay design and R&D oversight. Committee activity and Board attendance were robust in 2024 (Comp 4x; S&T 5x; Board 6 meetings; ≥85% attendance per director) supporting active oversight .
- Independence and interlocks: The Board classifies Choi as independent; Compensation Committee interlocks were affirmatively reported as none, reducing conflict risk in pay decisions .
- Alignment and incentives: Director pay balances cash ($57,250 in 2024) with equity (2024 grant-date fair value $239,238), with time-based vesting and anti-hedging/anti-pledging policies that support alignment; no director performance metrics are disclosed for equity, which is typical for small-cap biotech boards .
- Ownership and skin-in-the-game: Beneficial ownership comprises primarily vested options (94,322 shares exercisable within 60 days as of March 31, 2025; total options outstanding 138,322 at year-end 2024), representing <1% of shares outstanding; no pledging allowed by policy, mitigating collateralization risk .
- Conflicts/related-party exposure: No related-party transactions disclosed for Choi; the company has a formal related-person transaction policy overseen by the Audit Committee. Notable related transactions involve another director’s affiliated entities (Satter), not Choi .
- RED FLAGS: None apparent from filings. Potential time-commitment watch item as she became CEO of Alterome in April 2025, though her ANNX attendance in 2024 met thresholds; continue to monitor future attendance and any potential competitive overlaps; no specific conflicts disclosed to date .
Additional governance context: Independent directors meet in executive sessions; Board chair is separate from CEO; clawback policy adopted in Nov 2023 enhances accountability; say-on-pay support for NEOs exceeded 97% in prior cycle, signaling constructive shareholder feedback dynamics .