Sanjay Chanda
About Sanjay Chanda
Sanjay Chanda, Ph.D., is Chief Development Officer at ANTX, a role he has held since November 2019. He is 60 years old and holds a Ph.D. in Pharmacology and Toxicology (Northeast Louisiana University) and M.Pharm/B.Pharm degrees from Birla Institute of Technology, Mesra, India . His background spans senior drug development leadership across anti-infectives and immuno‑oncology. Companywide incentive outcomes show NEO bonuses paid at 120% of target for 2023 and 75% for 2024, indicating variable pay tied to corporate results; however, metric details and Chanda‑specific targets are not disclosed in filings .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Anacor Pharmaceuticals | SVP, Drug Development | 2008–2016 | Led drug development; foundation for anti-infectives expertise |
| Tioma Therapeutics (immuno-oncology) | Chief Development Officer | 2016–2017 | Advanced immuno‑oncology programs |
| Cortene Inc. (biopharma) | Chief Development Officer | 2017–2019 | Guided development planning and execution |
| ANTX | Chief Development Officer | 2019–present | Portfolio leadership in clinical development |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Auration Biotech, Inc. | Co‑Founder & Development Consultant | 2014–present | External development advisory and company building |
| Sanjay Chanda Consulting Services | Principal (drug development advisor) | 2017–2019 | Strategic development consulting across programs |
Fixed Compensation
- Base salary and target bonus specifics for Dr. Chanda are not individually disclosed (ANTX discloses NEOs only). Executive pay is set via market benchmarking (Aon Consulting peer analysis) and annual committee review .
- The company provides standard benefits; a 401(k) match began Jan 1, 2024 (100% of contributions up to 3% of eligible compensation, capped at $7,500; immediate vesting) .
Performance Compensation
Company plan structure (NEO disclosure; non-NEO executives like Chanda participate in corporate objectives but individual targets are not disclosed):
| Element | Metric | Weighting | Target | Actual | Payout | Vesting/Notes |
|---|---|---|---|---|---|---|
| Annual cash bonus (2023) | Corporate objectives | Not disclosed | CEO 50% of salary; other NEOs 40% | Company assessment | 120% of target | Paid Feb 2024 |
| Annual cash bonus (2024) | Corporate objectives | Not disclosed | CEO 55% of salary; other NEOs 40% | Company assessment | 75% of target | Approved Feb 2025 |
| Stock options | Time-based | n/a | n/a | n/a | n/a | Standard vesting 1/48 monthly; grant-date FMV strike |
| RSUs (introduced 2024) | Time-based | n/a | n/a | n/a | n/a | Generally 4 annual tranches; additional schedules per award |
Notes:
- Equity awards are approved by the Board/Comp Committee; options vest monthly over four years; RSUs generally vest annually over two to four years depending on grant .
- Equity grant practices avoid timing around material disclosures; no option-like grants to NEOs in the four business days pre/post major filings in 2024 .
Equity Ownership & Alignment
- Hedging/pledging: ANTX prohibits hedging, short selling, margining, or pledging of company stock by employees and directors, reducing misalignment/forced-sale risk .
- Beneficial ownership progression for Dr. Chanda:
| Metric | 2023 (as of Mar 15, 2023) | 2024 (as of Mar 15, 2024) | 2025 (as of Mar 24, 2025) |
|---|---|---|---|
| Direct shares owned | — | 735 | 12,156 |
| Options exercisable within 60 days | 138,623 | 189,438 | 252,968 |
| Total beneficial (shares + 60‑day options) | 138,623 | 190,173 | 265,124 |
| Shares outstanding (reference date) | 19,402,658 | 29,770,375 | 30,098,720 |
| Beneficial ownership % | ~0.71% | ~0.64% | ~0.88% |
- Vested vs. unvested: The “options exercisable within 60 days” line reflects vested equity. Detailed award-by-award vesting for Chanda is not itemized (NEO tables only) .
Employment Terms
- Severance & Change in Control Plan (applies to NEOs and certain other eligible employees):
- Non‑CoC termination without cause/good reason resignation: CEO 100% base salary + COBRA 12 months; “other named executive officers” 75% base salary + COBRA 9 months; earned but unpaid bonus paid in both cases .
- CoC period (3 months before to 12 months after CoC): CEO 150% base + 150% target bonus + COBRA 18 months; “other named executive officers” 100% base + 100% target bonus + COBRA 12 months; unvested equity vests in full; performance awards vest at target unless otherwise specified .
- 280G cutback to maximize after-tax value if excise tax would apply .
- 2022 Equity Plan also accelerates unassumed awards in a “corporate transaction” (performance at target unless award specifies) .
Implication: If Chanda participates as an “eligible employee,” structure suggests a double‑trigger CoC design with full equity acceleration, supporting retention through a transaction window .
Investment Implications
- Alignment and ownership trend: Chanda’s beneficial stake increased from ~0.64% (2024) to ~0.88% (2025) driven by growth in vested options, signaling rising “skin-in-the-game” while hedging/pledging prohibitions further align incentives .
- Overhang/selling pressure: With 252,968 options exercisable within 60 days as of March 24, 2025, there is a sizable vested option balance that could convert to float upon exercise; actual selling pressure requires Form 4 monitoring (not available in these filings) .
- Pay-for-performance: Company-level bonus outcomes fluctuated (120% of target in 2023 vs. 75% in 2024), indicating responsiveness to operating results; however, a lack of disclosed metric weightings/targets limits external assessment of rigor for non-NEO executives like Chanda .
- Retention/CIC: Double‑trigger severance with equity acceleration during CoC periods appropriately balances retention and shareholder alignment; absence of pledging and presence of an insider trading policy reduce governance risk .
Monitoring to-do: Track Form 4 activity for Chanda for any exercise/sales cadence around vesting dates and blackout windows; watch equity grant cadence and any changes to bonus targets or metrics in future proxies to evaluate evolving pay‑for‑performance calibration.
References: Executive bio and role ; bonus outcomes and targets ; equity plan/vesting ; hedging/pledging policy ; severance/CIC economics ; ownership counts and shares outstanding .