Sherry Korczynski
About Sherry Korczynski
Sherry Korczynski is Chief Commercial Officer at Aquestive Therapeutics (AQST), having joined the company in February 2024 as Senior Vice President – Sales and Marketing and later serving as CCO by late 2025. She is 55, holds a B.S. in Marketing from Pennsylvania State University and an M.B.A. from West Virginia University, and brings extensive allergy market expertise, including leadership across EpiPen brand marketing, PR, and advocacy at prior employers (ANI Pharmaceuticals, Eagle Pharmaceuticals, Mylan/Viatris, Eli Lilly) . For performance context during her tenure, AQST has grown revenues through 2024 while continuing to invest in commercial readiness for Anaphylm; see multi-year financials below.
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $47,680,000 | $50,583,000 | $57,561,000 |
| EBITDA ($USD) | -$39,512,000* | -$13,730,000* | -$30,030,000* |
*Values retrieved from S&P Global
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ANI Pharmaceuticals | Sales & Marketing leadership | Not disclosed | Commercial leadership across specialty pharma |
| Eagle Pharmaceuticals | Sales & Marketing leadership | Not disclosed | Launch and commercialization execution |
| Mylan (now Viatris) | Sales & Marketing leadership, EpiPen brand | Not disclosed | Led EpiPen advocacy, PR, and marketing in allergy market |
| Eli Lilly | Sales & Marketing leadership | Not disclosed | Big-pharma commercial experience |
External Roles
No public company board roles or external directorships disclosed in AQST’s proxy for this executive .
Fixed Compensation
Not individually disclosed for Sherry Korczynski in AQST’s proxy (she is not a Named Executive Officer for 2024). Company-level program for executives consists of:
- Base salary reviewed annually against market medians by the Compensation Committee with Aon as independent consultant .
- Annual cash incentive with target bonus set as a % of salary, based on financial, strategic, and operational goals approved by the Compensation Committee; payouts determined against achievement .
- Long-term equity with RSUs and stock options; awards typically vest 25%/25%/50% on the first, second, and third anniversaries of grant (standard cycle) .
Performance Compensation
Not individually disclosed for Sherry Korczynski. Company-level design (for executives):
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Financial, strategic, and operational objectives set annually by Compensation Committee | Not disclosed | Not disclosed | Assessed by Committee | Annual incentive bonus payout based on achievement | RSUs and options vest 25%/25%/50% over three years |
Notes:
- The proxy outlines the framework but does not publish her specific targets, weightings, or payouts .
Equity Ownership & Alignment
| Item | Status |
|---|---|
| Total beneficial ownership | Not disclosed for Korczynski in the proxy’s beneficial ownership table (covers directors and 2024 NEOs) . |
| Vested vs. unvested breakdown | Not disclosed for Korczynski . |
| Options – exercisable vs. unexercisable | Not disclosed for Korczynski . |
| Hedging/pledging | Company policy prohibits hedging transactions, short sales, and pledging/margin accounts for directors, officers, and employees . |
| Insider trading controls | Pre-clearance required for certain individuals and blackout periods enforced; policy filed with 2024 10-K as Exhibit 19.1 . |
| Ownership guidelines | Not disclosed for executives in the 2025 proxy . |
Employment Terms
| Term | Detail |
|---|---|
| Employment start date | Joined AQST in February 2024 as SVP – Sales & Marketing . |
| Current role | Chief Commercial Officer (participant in management fireside chat Nov 3, 2025; listed in leadership materials) . |
| Contract term / auto-renewal | Not disclosed for Korczynski . |
| Severance & change-of-control | NEO terms disclosed broadly (salary+bonus multiples, equity acceleration) but Korczynski’s specific terms are not disclosed; NEO CIC terms include 1.0x salary+target bonus, continued benefits, immediate vesting at target for performance awards . |
| Non-compete / non-solicit / garden leave | Not disclosed for Korczynski . |
| Clawbacks / tax gross-ups | Company discloses general compensation governance but no Korczynski-specific clawback or gross-up terms; NEO CIC tax provisions addressed for CEO and CLO . |
Performance & Track Record
- Pre-commercial leadership for Anaphylm: led awareness campaigns across CME/non-CME, posters, and conference presence; positive HCP and patient feedback that Anaphylm could improve carry rates and reduce barriers to use .
- Payer engagement: her team has “done a great job of engaging on the payer landscape”; pre-approval activities focus on awareness; copay buy-down expected as part of access strategy balanced with coverage after approval .
- Commercial readiness: listed among senior leadership in multiple 8-K investor materials throughout 2H25 as Chief Commercial Officer, underscoring role in launch planning .
- Pipeline milestone context: Anaphylm PDUFA action date scheduled for January 31, 2026, framing near-term commercial execution risk/opportunity .
Compensation Committee Analysis
- Committee independence and chartered responsibilities (approving executive pay, incentive plans, equity programs); Aon engaged as independent consultant; program designed to attract/retain talent and align pay with performance .
- Equity grant policy: annual grants typically in Q1; off-cycle grants follow open trading windows; RSUs and options generally vest 25%/25%/50% .
- Hedging/pledging prohibitions strengthen alignment by constraining risk-reducing strategies that could impair shareholder alignment .
Investment Implications
- Management confidence and role elevation: Presence as CCO in late 2025 press and investor materials signals central responsibility for Anaphylm’s launch, suggesting internal alignment on commercial strategy .
- Execution levers: Pre-commercial awareness and payer engagement under Korczynski’s remit will heavily influence early market adoption; constraints exist pre-approval, but post-approval tactics (coverage, copay support) are planned .
- Data gaps: Lack of individual compensation and ownership disclosure limits analysis of pay-for-performance alignment, vesting-driven selling pressure, and personal “skin-in-the-game.” Hedging/pledging restrictions reduce alignment red flags at the policy level .
- Near-term catalyst risk: Anaphylm PDUFA on Jan 31, 2026 puts emphasis on Korczynski’s launch readiness; revenue trend is improving, but EBITDA remains negative, highlighting the importance of disciplined commercialization and access management to drive margin trajectory post-approval plus table above.
Note: Where Sherry Korczynski’s specific compensation, vesting schedules, or ownership are not disclosed, company-level policies and frameworks are provided for context; no individual Form 4 trading data was found in the documents queried.
