Rick Artis
About Rick Artis
Rick Artis, Ph.D., is Executive Vice President and Chief Scientific Officer at Annexon, serving since January 6, 2023; he is 65 years old as of April 8, 2025, and holds a B.S. in Chemistry from UC Berkeley and a Ph.D. in Organic Chemistry from Yale . He previously led Annexon’s discovery of small‑molecule classical complement inhibitors, including ANX1502, and is a co‑inventor of vemurafenib; he has co‑authored 45 papers and is a co‑inventor on 45 issued U.S. patents . Company pay‑versus‑performance disclosures show cumulative TSR of 20.5 (value of a fixed $100 investment) and net loss of $138 million for FY2024, providing context for executive incentive calibration . Annexon’s say‑on‑pay support has been strong (97% in 2024; 99% in 2023), indicating shareholder approval of its compensation design .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Octant, Inc. | Chief Scientific Officer | Dec 2021 – Jan 2023 | Led data‑driven therapeutics efforts; returned to Annexon to expand small‑molecule complement pipeline |
| Annexon | SVP, Chemistry | Oct 2016 – Dec 2021 | Led discovery of small‑molecule classical complement inhibitors; nominated ANX1502 |
| Elan Pharmaceuticals | SVP, Research | Not disclosed | Led programs from target validation to early development across neurodegenerative and other diseases |
| Plexxikon Inc. | VP, Lead Generation | Not disclosed | Advanced fragment‑based drug discovery; co‑inventor of vemurafenib |
| Genentech; Syntex | Research roles | Not disclosed | Contributed to multiple molecules reaching clinical development; two received marketing approval |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Not disclosed in filings reviewed | — | — | No public company board roles or committee positions disclosed in Annexon filings; biography highlights publications and patents rather than external directorships |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus Paid ($) | Sign‑on/Retention Bonuses ($) |
|---|---|---|---|---|
| 2023 | 450,000 | 40% | 200,880 | 150,000 sign‑on |
Notes: Actual bonus reflects corporate and individual performance outcomes for 2023; see Performance Compensation .
Performance Compensation
| Year | Metric | Weighting | Target | Actual | Payout ($) | Vesting/Timing |
|---|---|---|---|---|---|---|
| 2023 | Corporate goals (research, clinical, business enabling) | 80% (non‑CEO) | Up to 140% of target | 114.5% achieved | Included in $200,880 non‑equity incentive | Annual bonus; paid after Feb 2024 approval |
| 2023 | Individual goals (Dr. Artis) | 20% | 100% baseline | 100% achieved | Included above | Annual bonus cycle |
2024 company‑level calibration reference (not specific to Artis): corporate goals were capped at 160% and approved at 100%, with individual achievements assessed for other NEOs; Artis was not a 2024 NEO so his bonus detail is not disclosed .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 50,329 shares held directly; 167,293 options exercisable within 60 days of April 8, 2024; beneficial ownership <1% of shares outstanding |
| Options – exercisable vs unexercisable (as of 12/31/2023) | See award‑level table below |
| Pledging/Hedging | Company policy prohibits pledging and hedging for directors, officers, employees, and consultants |
| Ownership guidelines | Not disclosed in filings reviewed |
| Clawback | Compensation recovery policy adopted Nov 2023 per Dodd‑Frank/Nasdaq |
Outstanding equity awards (12/31/2023):
| Vesting Commencement | Exercisable Options (#) | Unexercisable Options (#) | Exercise Price ($) | Expiration | RSUs Unvested (#) | RSU Market Value ($) |
|---|---|---|---|---|---|---|
| 12/12/2018 | 4,833 | — | 5.11 | 1/22/2029 | — | — |
| 7/23/2020 | 18,904 | 3,229 | 17.00 | 7/23/2030 | — | — |
| 2/25/2021 | 49,583 | 20,417 | 30.07 | 2/25/2031 | — | — |
| 1/6/2023 | — | 210,000 | 6.84 | 1/6/2033 | — | — |
Vesting schedules:
- Options generally vest 1/48 monthly from commencement, subject to continued service; the 1/6/2023 grant vests 25% at the first anniversary and the remainder in equal monthly installments over 36 months .
- RSUs are not outstanding for Artis; RSU vesting structures for other executives are three equal annual installments, included here for context .
Indicative option moneyness at 12/31/2023: the closing price used for RSU valuation was $4.54, which was below the $6.84 strike of the 1/6/2023 option grant, implying that grant was out‑of‑the‑money at that date .
Employment Terms
| Provision | EVP/CSO (Artis) |
|---|---|
| Termination without Cause or resignation for Good Reason (outside change‑in‑control window) | Lump‑sum cash equal to 9 months of base salary; COBRA premiums for 9 months, subject to release |
| Termination without Cause or resignation for Good Reason (3 months before to 12 months after change‑in‑control) | Lump‑sum cash equal to 12 months of base salary plus target annual bonus; COBRA premiums for 12 months; full acceleration of all unvested equity awards; double‑trigger required; subject to release |
| Definitions (Cause/Good Reason) | As defined in employment agreements, including material reduction in salary/benefits, material diminution of duties, or relocation >50 miles for Good Reason; specified misconduct for Cause |
| Clawback | Company‑wide compensation recovery policy adopted Nov 2023 |
| Non‑compete / non‑solicit | Not disclosed in filings reviewed |
Investment Implications
- Alignment: Artis’ pay mix for 2023 included a sign‑on cash bonus and predominantly option equity with long‑dated expirations and monthly vesting, tying value realization to sustained share performance; his beneficial ownership is <1%, with anti‑hedging/anti‑pledging and clawback policies reinforcing alignment .
- Vesting and potential supply: The 1/6/2023 option award vests over 3 years with a 25% cliff then monthly, which tends to smooth potential sellable supply; options were out‑of‑the‑money at 12/31/2023 ($4.54 close vs $6.84 strike), limiting near‑term selling pressure unless the stock appreciates .
- Retention and change‑in‑control: Double‑trigger protection (salary+bonus multiples and full equity acceleration) mitigates retention risk during strategic events but creates event‑driven dilution risk if a transaction coincides with acceleration .
- Pay governance: Say‑on‑pay support remained high (97% in 2024; 99% in 2023), and the Compensation Committee engages independent consultants (Aon in 2023; Alpine in 2024) and calibrates corporate goals annually, suggesting disciplined incentive oversight .
- Execution credibility: Track record includes co‑inventing vemurafenib and leading complement‑focused discovery (ANX1502), which supports R&D execution; company‑level TSR and net losses frame incentive targets against challenging biopharma capital cycles .