Thomas Wiggans
About Thomas G. Wiggans
Independent director since February 2017 and Chair of the Board since February 2021, Thomas G. Wiggans (age 73 as of April 8, 2025) is a seasoned biotech operator and board leader with decades of executive and director experience across public and private biopharma companies. He founded Dermira (CEO 2010–2020; Chair 2014–2020) and has led or overseen multiple companies through acquisitions; he holds a B.S. in Pharmacy from the University of Kansas and an M.B.A. from Southern Methodist University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Dermira, Inc. | Founder; CEO; Chair | Founder Aug 2010; CEO Sep 2010–Feb 2020; Chair Oct 2014–Feb 2020 | Acquired by Eli Lilly in Feb 2020 |
| Peplin, Inc. | CEO; Chair | CEO Jul 2007–2009; Chair Oct 2007–2009 | Acquired by LEO Pharma in 2009 |
| Connetics Corporation | CEO; Chair | CEO Jul 1994–Dec 2006; Chair Jan 2006–Dec 2006 | Acquired by Stiefel Labs in Dec 2006 |
| Cyto Therapeutics Inc. | President & COO | 1992–1994 | Operations leadership |
| Ares‑Serono S.A. | Various senior roles | 1980–1992 | President, U.S. pharma ops; Managing Director, U.K. pharma ops |
| Eli Lilly | Early career | — | Began career with Eli Lilly |
| Industry organizations | Chair/Founder roles | — | Chairman of the Association of Biotechnology Companies; founding board member of BIO |
External Roles
| Organization | Role | Status/Tenure | Notes |
|---|---|---|---|
| Annexon, Inc. | Chair of the Board | Feb 2021–Present | Independent Chair; separate from CEO role |
| CymaBay Therapeutics, Inc. | Director | Until Mar 2024 | Acquired by Gilead in Mar 2024 |
| Forma Therapeutics Holdings, Inc. | Director | 2020–Oct 2022 | Acquired by Novo Nordisk in Oct 2022 |
| Onyx Pharmaceuticals | Director | Mar 2005–Oct 2013 | Acquired by Amgen in Oct 2013 |
| Sangamo Biosciences, Inc. | Director | Jun 2008–Jun 2012 | Public biotech director experience |
| Somaxon Pharmaceuticals, Inc. | Director | Jun 2008–May 2012 | Public biotech director experience |
| Excaliard Pharmaceuticals, Inc. | Chair | Oct 2010–Dec 2011 | Acquired by Pfizer in Dec 2011 |
| University of Kansas Endowment Association | Trustee | — | Board of trustees member |
Board Governance
- Structure and independence: Board has an independent Chair (Wiggans) distinct from the CEO; Board determined all directors except the CEO are independent, including committee independence as applicable .
- Committee assignments (2024): Compensation Committee member (Chair: Jung Choi); Nominating & Corporate Governance Committee member (Chair: Muneer Satter). Not on Audit or Science & Technology Committees .
- Attendance/engagement: Board met 6 times in 2024; each director attended at least 85% of Board and committee meetings on which they served; independent directors met regularly in executive session; all directors attended the 2024 annual meeting .
- Risk oversight: Board oversees strategic risk; Audit Committee covers financial and cybersecurity risk; Compensation Committee monitors risk in compensation programs; N&CG oversees board composition/independence .
Fixed Compensation
| Item | Amount/Detail |
|---|---|
| 2024 Fees Earned or Paid in Cash (Wiggans) | $84,250 |
| Director cash retainer (Amended Apr 2025) | $40,000 per year |
| Additional retainer – Non‑Executive Chair | $35,000 per year |
| Committee cash fees (member) | Audit $10,000; Compensation $6,000; Nominating & Corporate Governance $5,000; Science & Technology $6,000 |
| Committee cash fees (chair) | Audit $20,000; Compensation $12,000; Nominating & Corporate Governance $10,000; Science & Technology $12,000 |
Note: Wiggans served as Board Chair and as a member of the Compensation and Nominating & Corporate Governance Committees in 2024 .
Performance Compensation
| Equity Component | Grant Sizing | Vesting | Change‑in‑Control Treatment | 2024 Grant Value (Wiggans) |
|---|---|---|---|---|
| Initial Option Grant (onboard) | 110,000 options | Monthly over 3 years | Vests in full on change in control | — |
| Annual Option Grant (each annual meeting) | 55,000 options | Vests by next annual meeting or first anniversary | Vests in full on change in control | Included in 2024 option value below |
| 2024 Option Awards (aggregate fair value) | — | — | — | $239,238 |
| Options Outstanding (12/31/2024) | — | — | — | 133,745 options (exercisable and unexercisable) |
Director equity awards are time‑vested options; no performance metrics are applied to director equity grants under the Non‑Employee Director Compensation Program .
Other Directorships & Interlocks
- Compensation Committee interlocks: None—no member of the Compensation Committee (including Wiggans) was an officer/employee in the past year; no Annexon executive served on another board’s compensation committee with a reciprocal relationship .
- Related‑party transactions: 2023–2024 transactions involved entities affiliated with director Muneer Satter and certain >5% holders; no related‑party transactions involving Mr. Wiggans were disclosed .
Expertise & Qualifications
- Education: B.S. in Pharmacy (University of Kansas); M.B.A. (Southern Methodist University) .
- Domain expertise: Multi‑decade operating experience as CEO and chair across dermatology and broader biopharma; strategic M&A execution and board leadership through multiple public company acquisitions .
- Industry leadership: Former Chairman of the Association of Biotechnology Companies; founding board member of the Biotechnology Innovation Organization (BIO) .
Equity Ownership
| Measure | Value |
|---|---|
| Beneficial Ownership (as of Mar 31, 2025) | 89,745 shares (options exercisable within 60 days); <1% of shares outstanding |
| Company shares outstanding (record date) | 109,714,404 (for 2025 annual meeting) |
| Options Outstanding (director, 12/31/2024) | 133,745 options (exercisable and unexercisable) |
| Hedging/Pledging | Company policy prohibits hedging and pledging by directors, officers, employees, and consultants |
Governance Assessment
-
Strengths:
- Independent Chair structure with clear separation from CEO; Wiggans provides seasoned oversight and serves on two key governance committees .
- Strong attendance culture (≥85% for all directors), regular independent executive sessions, and full director attendance at the 2024 annual meeting—signals active engagement .
- Robust guardrails: anti‑hedging/anti‑pledging policy, independent compensation consultant (Alpine), and Dodd‑Frank compliant clawback adopted in Nov 2023 .
- Shareholder alignment context: most recent say‑on‑pay support exceeded 97%, indicating broad investor confidence in compensation governance (though this pertains to NEO pay, not director pay) .
-
Watch items (contextual):
- Chair also sits on the Compensation Committee, which can raise optics concerns; mitigated by Board’s independence determinations and fully independent committee membership .
- Director equity is option‑based and time‑vested (no performance conditions); investors may prefer performance‑linked director equity at some companies, but time‑based options are common for small/mid‑cap biotech .
No red flags identified for Mr. Wiggans in related‑party transactions, pledging/hedging, or Section 16(a) compliance based on the latest proxy disclosures .
Director Compensation (2024 detail)
| Component | Amount |
|---|---|
| Cash Fees (Wiggans) | $84,250 |
| Option Awards (grant‑date fair value) | $239,238 |
| Total | $323,488 |
Insider and Beneficial Ownership Snapshot
| Item | Detail |
|---|---|
| Beneficial ownership (Mr. Wiggans) | 89,745 shares (options exercisable within 60 days); <1% |
| Options outstanding (12/31/2024) | 133,745 (exercisable and unexercisable) |
| Section 16(a) compliance | All Section 16(a) filing requirements were timely satisfied in 2024 (company‑wide statement) |
Change‑in‑control: Non‑employee director initial and annual option grants vest in full upon a change in control .