Sue Hohenleitner
ARDELYXAbout Sue Hohenleitner
Sue Hohenleitner, age 55, was appointed Chief Financial Officer and principal financial officer of Ardelyx effective November 4, 2025. She is a CPA (Pennsylvania) and Certified Management Accountant with a B.S. in Accounting (La Salle University) and an MBA (Villanova University) . Prior to Ardelyx, she led financial strategy for Johnson & Johnson Innovative Medicine North America, a $36 billion commercial business, and held senior finance roles across J&J Innovation, Acquisition & Divestiture Operations, and Supply Chain Deliver . As performance context, Ardelyx delivered 2024 net product sales revenue of $319.2 million across IBSRELA and XPHOZAH , total revenue of $334 million, cumulative TSR of 78 (base $100), and net loss of $39 million .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Johnson & Johnson Innovative Medicine NA | Vice President & CFO | Aug 2022–Oct 2025 | Led financial strategy for ~$36B commercial business |
| Johnson & Johnson Innovation | Vice President of Finance | Apr 2019–Aug 2022 | Finance leadership across innovation portfolio |
| Johnson & Johnson Acquisition & Divestiture Operations | Vice President of Finance | May 2018–Apr 2019 | Led finance for A&D execution |
| Johnson & Johnson Supply Chain Deliver | Vice President of Finance | Dec 2015–May 2018 | Finance leadership for global supply chain deliver |
External Roles
- No public company directorships disclosed; no related-party transactions or family relationships reported .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base salary | $550,000 | Eligible for merit cycle increases at Board discretion |
| Target bonus | 45% of base | 2025 bonus prorated based on service and goals set by Board |
| Sign-on bonus | $180,000 | Payable within 30 days of start |
| Housing consideration | $150,000 | Expectation of regular presence in Company offices |
Performance Compensation
New-Hire Equity Awards (Grant date October 13, 2025)
| Award | Shares/Units | Exercise Price | Vesting Schedule | Grant Details |
|---|---|---|---|---|
| Stock Options | 578,104 | $5.01 per share | 25% on 1st anniversary of start; remaining 75% monthly over 36 months; full vest at 4th anniversary, service-based | Granted at last reported sale price on grant date |
| RSUs | 146,896 | N/A | 25% on first Company quarterly RSU vest date after 1st anniversary; remaining quarterly over next 3 years, service-based | One share of common stock per RSU at vest |
- Annual cash bonus metrics will be established by the Board; specific 2025 CFO metrics not disclosed .
Equity Ownership & Alignment
| Security | Amount | Ownership Form | Notes |
|---|---|---|---|
| Common Stock (via RSUs) | 146,896 | Direct (D) | One share issued per RSU at vest |
| Stock Options (right to buy) | 578,104 | Direct (D) | $5.01 strike; 25% vest on 10/13/2026, then monthly thereafter |
| Hedging/pledging | Prohibited for officers under Insider Trading Compliance Policy | — | Short sales, derivatives, margin purchases, pledging are prohibited |
- Insider selling pressure may increase around first vest dates (options at 1-year cliff, RSUs at first quarterly vest after the anniversary), subject to trading windows and policy compliance .
Employment Terms
- Offer Letter: Standard indemnification and entry into Company’s Change in Control Severance Agreement upon start; at-will employment .
- Company NEO severance frameworks (2025 updates):
- Outside change-in-control window: 12 months base salary continuation, up to 12 months healthcare, and accelerated vesting equal to 3 months per year of service (capped at 12 months) .
- Within 3 months before to 12 months after change-in-control (double-trigger): 1.5×(base salary + target bonus) lump sum, up to 18 months healthcare, full acceleration of equity, options exercisable up to 12 months post-termination or original expiry .
- Clawback: Company policy to recover erroneously awarded incentive compensation upon qualifying accounting restatement, compliant with SEC/Nasdaq .
Compensation Governance, Benchmarks, and Say-on-Pay
- Independent compensation consultant: Pearl Meyer engaged for market analysis and program design; determined independent; no conflicts .
- Peer group used for market comparisons (20 commercial-stage biotech/pharma peers) with target ~50th percentile positioning .
- 2024 Say-on-Pay approval ~94%; Committee considered feedback in subsequent decisions .
Performance & Track Record
- Company 2024 operating context: net product sales revenue $319.2M (IBSRELA $158.3M; XPHOZAH $160.9M), cash and equivalents $250.1M, extended loan availability and interest-only periods; operational wins in supply agreements; and progress on patient access initiatives . Pay-versus-performance: total revenue $334M, TSR 78, net loss $(39)M .
Investment Implications
- Alignment: Large, multi-year, service-based option/RSU mix reinforces long-term value orientation; anti-hedging/pledging and clawback policies strengthen alignment and risk control .
- Retention and selling pressure: 1-year cliffs for both options and RSUs create retention hooks through October/November 2026; watch 10b5-1 adoption and sales cadence thereafter .
- Change-in-control economics: Double-trigger design with full acceleration supports deal neutrality; outside-CIC partial acceleration limits windfalls; specifics for Ms. Hohenleitner expected to follow Company-standard NEO terms .
- Execution capability: Prior CFO role over a $36B J&J business and broad finance leadership background suggest strong financial stewardship capabilities for scaling IBSRELA/XPHOZAH franchises .
- Governance and shareholder signals: Strong Say-on-Pay support, independent consultant oversight, and structured performance programs reduce pay-risk; monitor 2025–2026 bonus metric design and any revisions to ownership guidelines or severance terms .