Richard Peters
About Richard Peters
Richard Peters, M.D., Ph.D., age 62, is an independent director of Aprea Therapeutics and the current Chairman of the Board; he has served on the Board since June 2020 . A Harvard-trained physician-scientist and former faculty member at Massachusetts General Hospital, he holds M.D. and Ph.D. degrees from the Medical University of South Carolina and completed a Howard Hughes Medical Institute fellowship in biophysics at Harvard Medical School . His executive background spans rare diseases and oncology, including prior CEO roles at Yumanity Therapeutics (2019–2022) and Merrimack Pharmaceuticals (2017–2019), and SVP/Head Global Rare Diseases at Genzyme (Sanofi) (2014–2017) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Yumanity Therapeutics, Inc. | President, CEO, Director | Sep 2019–Dec 2022 | Led neurodegenerative R&D and corporate strategy as public company CEO |
| Merrimack Pharmaceuticals, Inc. | President & CEO | Feb 2017–Jun 2019 | Oncology drug development leadership and corporate transition |
| Genzyme (Sanofi) | SVP & Head, Global Rare Diseases | Apr 2014–Jan 2017 | Oversaw rare disease portfolio globally |
| Massachusetts General Hospital / Harvard Medical School | Faculty; HHMI Biophysics Fellow | Prior to corporate roles | Clinical/scientific training; biophysics fellowship |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| Pharming Group N.V. | Director | Current | Publicly held rare disease company |
| Kineta, Inc. | Director | Current | Public immuno-oncology company |
| TellBio, Inc. | Director | Current (private) | Private liquid biopsy company |
Board Governance
- Role: Chairman of the Board; CEO and Chair roles are separated (Chairman: Richard Peters; CEO: Oren Gilad) .
- Independence: Board determined Dr. Peters is independent under Nasdaq rules; 8 of 9 directors are independent (88%) .
- Committees: Compensation Committee Chair; not listed as a member of Audit, NCGC, or R&D .
- Meeting cadence and attendance: Board met 4 times in 2024; each director attended at least 75% of Board/committee meetings; all current directors attended the 2024 annual meeting .
- Executive sessions: Independent directors regularly meet without management present .
- Committee meetings in 2024: Audit (4), Compensation (1), NCGC (0), R&D (5) .
Fixed Compensation
| Year | Fees Earned or Paid in Cash ($) | Option Awards ($) | Stock Awards ($) | Total ($) |
|---|---|---|---|---|
| 2024 | 81,000 | 12,178 | 4,253 | 97,431 |
Director program elements (non-employee directors):
- Annual cash retainer: $40,000; committee chair retainers: Audit $7,500, Compensation $5,000, NCGC $4,000, R&D $4,000; committee member retainers: Audit $7,500, Compensation $6,000, NCGC $4,000, R&D $4,000; Lead Independent Director retainer: $20,000 .
- 2024 equity retainer was calibrated materially below target due to share usage and market context; approximate annual equity retainer value was ~$16,431 .
Performance Compensation
| Equity Component | 2024 Grant Design | Vesting | 2024 Value |
|---|---|---|---|
| Annual Equity Retainer | Options (80%) + RSUs (20%) awarded post annual meeting | Both vest on first anniversary of grant date | ~$16,431 aggregate (company-wide calibration) |
| Aggregate 2024 Awards (as of 12/31/2024) | Options | Outstanding count | 4,185 (Richard Peters) |
| Aggregate 2024 Awards (as of 12/31/2024) | RSUs | Outstanding count | 1,045 (Richard Peters) |
| Performance Metrics Tied to Director Pay | Not disclosed in director program | N/A | Not disclosed |
Initial equity grant policy: up to $185,000 targeted value in stock options vesting in three equal annual installments, subject to continued Board service .
Other Directorships & Interlocks
| Company | Relationship to APRE | Potential Interlock/Conflict |
|---|---|---|
| Pharming Group N.V.; Kineta, Inc. | Richard Peters serves as director at each | No related-party transactions above threshold involving directors/executives disclosed since Jan 1, 2024; Audit Committee reviews RPTs per policy . |
Expertise & Qualifications
- Physician-scientist (Harvard-trained) with deep oncology and rare disease leadership; prior CEO roles and global portfolio oversight .
- Corporate governance experience as independent Chairman and Compensation Committee Chair; qualified under Nasdaq/SEC independence standards .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Breakdown |
|---|---|---|---|
| Richard Peters, M.D., Ph.D. | 5,994 | Less than 1% | 1,029 shares held + 4,965 options exercisable within 60 days |
- Shares outstanding at record date: 5,525,172 .
- Hedging/pledging: Company policy prohibits hedging and pledging of company securities by directors, officers, and employees .
- Ownership guidelines: Corporate Governance Guidelines exist, but director stock ownership guideline specifics are not detailed in the proxy .
Governance Assessment
- Independence and separation of powers: Independent Chairman separate from CEO; Peters is also Compensation Committee Chair, concentrating pay oversight with Board leadership; mitigated by committee independence and regular executive sessions of independent directors .
- Attendance and engagement: Board met 4 times in 2024; all directors met minimum attendance expectations; current directors attended the 2024 annual meeting .
- Pay structure: Director compensation primarily fixed cash plus time-based equity; no performance-based metrics disclosed for directors; 2024 equity retainer was materially down-calibrated (~$16.4k), signaling equity conservatism amidst share usage constraints .
- Ownership alignment: Peters’ beneficial ownership is <1% with exercisable options; anti-hedging/pledging policy supports alignment; no pledged shares disclosed .
- Conflicts/related parties: Company reports no related party transactions above SEC thresholds involving directors/executives for 2024; Audit Committee oversight is active .
- Shareholder oversight signals: 2025 proxy includes Say-on-Pay and frequency vote proposals; governance framework includes annual independence review and periodic Board self-evaluation .