Adam Savitz
About Adam Savitz
Adam Savitz, M.D., Ph.D., is Alto Neuroscience’s Chief Medical Officer, serving in the role since July 2021; he is 59 years old . He holds an M.D. and Ph.D. in Molecular Biology from UCLA and a B.S./M.S. in Molecular Biophysics and Biochemistry from Yale; he completed psychiatry training and served on staff at Massachusetts General Hospital and was full‑time faculty in Psychiatry at Weill Cornell Medicine . Prior to Alto, Savitz led clinical strategy and late‑stage CNS programs at Janssen R&D, including development pathways that culminated in approvals for oral Invega in adolescents and Invega Trinza in adults with schizophrenia, and advanced seltorexant through multiple late‑stage trials in depression . Company‑level TSR, revenue growth, and EBITDA growth metrics tied to his tenure are not disclosed in company documents.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Janssen Research & Development, LLC | Senior Director, Clinical Research; Clinical Strategy Leader for Mood Disorder DAS | Senior Director: Jul 2017–Jun 2021; Janssen tenure: May 2011–Jun 2021 | Led late-stage CNS programs; approvals for oral Invega (adolescents) and Invega Trinza (adults); progressed seltorexant through multiple late-stage depression trials |
| Weill Cornell Medicine | Full‑time Faculty, Dept. of Psychiatry; Unit Chief (inpatient unit) | 2001–2011 | Academic leadership and inpatient psychiatry unit management |
| Massachusetts General Hospital | Psychiatry training and staff | Not disclosed | Clinical training; staff service in psychiatry |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Weill Cornell Medicine | Clinical Assistant Professor (clinical appointment) | Not disclosed | Maintains a clinical appointment; complements industry leadership |
Fixed Compensation
Compensation summary for FY 2023 (as disclosed when Savitz was a named executive officer):
| Metric | FY 2023 |
|---|---|
| Base Salary ($) | $374,269 |
| Non‑Equity Incentive Plan Compensation ($) | $194,693 |
| Option Awards (grant‑date fair value, $) | $766,686 |
| All Other Compensation ($) | $10,607 |
| Total Compensation ($) | $1,346,255 |
Post‑IPO compensation changes (effective Feb 2024):
- Base salary increased to $495,000; target cash bonus remains 40% of base salary .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout Form | Vesting |
|---|---|---|---|---|---|
| Corporate and individual objectives (discretionary annual bonus) | Not disclosed | 40% of base salary | $194,693 for FY 2023 | Cash | N/A (cash bonus) |
Notes:
- Company discloses that bonus design is based on corporate and individual objectives; specific FY 2023 metrics and weightings for Savitz are not disclosed .
Equity Ownership & Alignment
Outstanding Equity Awards (as of Dec 31, 2023)
| Grant Date | Exercisable Options (#) | Unexercisable Options (#) | Exercise Price ($) | Expiration Date | Vesting Notes |
|---|---|---|---|---|---|
| 7/30/2021 | 81,493 | 53,393 | 2.32 | 7/29/2031 | Not disclosed in footnotes for this grant |
| 8/02/2022 | 22,481 | — | 6.23 (repriced from $7.06 in Apr 2023) | 8/01/2032 | 1/48 monthly from 9/21/2022 commencement; repriced to FMV $6.23 in Apr 2023 |
| 4/14/2023 | — | 33,008 | 6.23 | 4/13/2033 | 25% at 1‑year from 1/01/2023, then 1/48 monthly |
| 12/20/2023 | — | 123,645 | 5.30 | 12/19/2033 | 1/3 vested upon IPO completion; remaining time‑based portion 25% at 1‑year from 12/20/2023, then 1/48 monthly |
Trading, hedging, and pledging policy:
- Company policy prohibits hedging, short selling, derivative transactions, holding in margin accounts, and pledging of Alto shares by directors, officers, employees, and agents .
Related party transactions involving Savitz family:
| Counterparty | Relationship to Savitz | Security | Shares | Price/Share ($) | Total ($) |
|---|---|---|---|---|---|
| Robert L. Friedman 2003 LT Trust f/b/o Lisa Savitz | Spouse is beneficiary | Series B Pref (Apr 2022–Jan 2023) | 16,666 | 6.00 | 99,996 |
| Robert L. Friedman 2003 LT Trust f/b/o Lisa Savitz | Spouse is beneficiary | IPO (Feb 2024) | 17,000 | 16.00 | 272,000 |
| Alison Savitz & David Glass | Sibling | IPO (Feb 2024) | 625 | 16.00 | 10,000 |
Observations:
- Family participation in financings/IPO aligns household exposure with equity outcomes; no pledging is permitted by policy, and there is no disclosure of any pledged shares by Savitz .
Option repricing context:
- Savitz’s 2022 options were repriced to $6.23 in April 2023 to reflect then‑current FMV; company rationale was to motivate retention for underwater options .
- The Board approved a broader option repricing on July 3, 2025 for underwater options of employees/consultants down to $2.35 (closing price on effective date), with retention requirements; named examples included CEO, CFO, COO (Savitz not specifically listed), and non‑employee directors excluded .
Employment Terms
- Start date: Chief Medical Officer since July 2021 .
- Employment offer letter: Company discloses an offer letter for Savitz with base salary, target annual bonus, and severance/change‑in‑control benefits framework (months not disclosed in DRS redactions) .
- Severance/change‑in‑control framework: The 2025 proxy details terms for the 2024 named executive officers (CEO/CFO/COO): salary continuation for 9 months (12 for CEO) upon termination without cause; COBRA premiums paid; under change‑in‑control with termination/good reason, 12 months salary (18 for CEO) and bonus target, full acceleration of equity awards (target or actual for performance awards), and COBRA premiums paid; Savitz’s specific terms are not enumerated in the 2025 proxy .
Performance & Track Record
- Janssen leadership: Led mood disorder pipeline transition from early to late development; oversaw multiple programs to approval (Invega oral/Trinza LAI) and advanced seltorexant through late‑stage trials in depression, reflecting depth in CNS clinical execution .
- Alto clinical operations model: Company highlights insourced clinical operations leadership led by Savitz and CDO Jessica Powell to improve quality and efficiency across Phase 2a programs, enabling simultaneous studies and biomarker rigor—indicative of execution focus in Alto’s platform .
Investment Implications
- Pay‑for‑performance alignment: Savitz’s 2023 pay includes a meaningful at‑risk cash component tied to corporate/individual objectives and substantial option‑based equity with multi‑year vesting, implying alignment with clinical execution and value creation milestones .
- Retention risk and selling pressure: Multi‑year time‑based vesting across 2021–2023 grants creates continued retention hooks; the April 2023 option repricing for underwater grants (and the July 2025 broader repricing program) signals prior equity value compression and Board willingness to reset incentives—investors should monitor potential post‑vesting exercises and any Form 4 activity to gauge selling pressure, noting policy bans pledging/hedging .
- Alignment and related parties: Family trust and sibling participation in financings/IPO increases household exposure to Alto equity, potentially strengthening alignment; however, related‑party involvement requires ongoing governance vigilance despite small relative transaction sizes .
- Change‑of‑control economics: While Savitz’s specific severance terms aren’t itemized in the 2025 proxy, the company framework for NEOs includes cash severance, bonus, and full equity acceleration on a double‑trigger—this could incentivize support for strategic transactions if clinical data is favorable; confirm Savitz’s individual letter terms when available .
- Execution capability: Savitz’s track record in advancing CNS assets to approval and leading precision approaches to depression suggests strong clinical stewardship at Alto; investor focus should remain on biomarker‑guided readouts and Phase 2/3 progression where compensation triggers likely tie to milestones .