Julie Krop
About Julie Krop, M.D.
Independent director since February 2021 (Class III; term expiring at 2027 AGM). Age 58. Educated at Brown University (B.A. and M.D.). Background as Chief Medical Officer across multiple biopharma companies and leadership of clinical development, regulatory, PV, and medical affairs functions.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| AMAG Pharmaceuticals (Nasdaq:AMAG) | Chief Medical Officer & EVP, Development | 2015–2020 | Led clinical development, medical affairs, program management, PV, regulatory. |
| Vertex Pharmaceuticals (Nasdaq:VRTX) | Vice President, Clinical Development | 2012–2015 | Clinical development leadership. |
| Stryker Biotech (NYSE:SYK) | Vice President, Clinical Development & Regulatory Affairs | 2006–2012 | Clinical dev and regulatory leadership. |
| Freeline Therapeutics (Nasdaq:FRLN) | Chief Medical Officer | Apr 2020–Aug 2021 | Gene therapy clinical leadership. |
| PureTech Health plc (Nasdaq:PRTC) | Chief Medical Officer | Most recent prior role | CMO; psychiatric & neurological focus. |
External Roles
| Organization | Role | Status |
|---|---|---|
| JSK Consulting | President | Current |
Board Governance
- Independence: Board determined all directors other than CEO are independent; Compensation and Audit Committee members meet heightened independence standards. Dr. Krop is an independent director.
- Board and committee attendance: Board met 7 times in 2024; all directors then serving attended ≥75% of Board and committee meetings; all directors attended the 2024 AGM except one excused absence (not Dr. Krop).
- Committee memberships and chair roles (2024):
- Science & Technology Committee – Chair; 4 meetings.
- Compensation Committee – Member; 5 meetings.
- Nominating & Corporate Governance Committee – Member; 4 meetings.
- Audit Committee – Not a member; Audit held 8 meetings.
- Executive sessions: Independent directors meet without management periodically.
- Hedging/Pledging: Company policy prohibits hedging and pledging; short sales and margin accounts also prohibited.
Fixed Compensation (Director)
| Component (FY2024) | Amount ($) | Detail |
|---|---|---|
| Board annual retainer (cash) | 50,000 | Standard non-employee director retainer. |
| Committee membership fees | 8,750 (Comp), 5,000 (Nominating) | Membership retainers. |
| Committee chair fee | 17,500 (Science & Technology) | Chair additional retainer. |
| Total cash fees earned | 90,000 | Sum of above as reported. |
| Reimbursed travel (All Other Comp) | 413 | Reported other compensation. |
| Total reported compensation | 167,344 | Cash + options fair value + other. |
| FY2024 annual option grant | 38,000 options | Granted June 20, 2024; 1-year vest; grant-date fair value $2.50/share. |
Performance Compensation (Director)
- Structure: Annual equity in the form of stock options; one-year vesting; no disclosed director performance metrics (e.g., TSR, EBITDA) tied to director pay.
Other Directorships & Interlocks
- No other public company directorships disclosed for Dr. Krop; prior roles were executive positions (CMO/VP) at PureTech Health, Freeline, AMAG, Vertex, and Stryker Biotech, not board roles.
Expertise & Qualifications
- Deep clinical development leadership from early stage through FDA approval; senior roles across clinical development, regulatory, PV, medical affairs, and program management.
- Medical background (M.D.) with broad therapeutic area experience; aligns with Science & Technology oversight.
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial ownership | “—” (<1%) | Listed in beneficial ownership table as less than 1%; no common shares disclosed. |
| Options outstanding (12/31/2024) | 136,500 | Director outstanding options at year-end. |
| Rights to acquire within 60 days (as of 3/21/2025) | 98,500 | Included in footnote for rights to acquire beneficial ownership. |
| Shares pledged | None | Company policy prohibits pledging. |
Governance Assessment
- Strengths: Independent director with strong domain expertise; chairing Science & Technology aligns board oversight to clinical strategy; active committee engagement (Compensation and Nominating) and confirmed independence; attendance ≥75% supports engagement; anti-hedging/pledging policy enhances alignment.
- Alignment considerations: Beneficial common share ownership not disclosed (listed as “—”), though meaningful option holdings exist; investors may prefer increased outright share ownership to strengthen “skin in the game.”
- Conflicts/related-party exposure: No related-party transactions disclosed involving Dr. Krop; no registration rights listed for Dr. Krop; no Section 16(a) delinquent filings noted for Dr. Krop in 2024.
- Compensation governance: Compensation Committee uses independent consultant (Aon); Krop serves on the Compensation Committee, which oversees executive and director compensation, equity plans, and independence assessments.
RED FLAGS: None disclosed specific to Dr. Krop (no related-party transactions, no hedging/pledging, attendance ≥75%, independence affirmed).
