Christopher Horan
About Christopher Horan
Christopher P. Horan, 58, has served as Artiva Biotherapeutics’ Chief Technical Operations Officer (CTO) since December 2021. He previously held senior technical operations and global supply roles at Genentech (SVP, Global Product and Supply Chain Management), Merck, Dermira (CTO), and SanBio (CTO), and holds a B.E. from Stevens Institute of Technology . As context on company stage/performance during his tenure, FY 2024 revenue was $0.251 million and net loss was $65.4 million, reflecting clinical-stage investment intensity .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SanBio Co., Ltd. | Chief Technical Operations Officer | 2020–2021 | Led technical operations at a private biopharma prior to joining Artiva . |
| Dermira, Inc. | Chief Technical Operations Officer | 2018–2020 | Oversaw CMC/operations at a biotech later acquired by Lilly . |
| Genentech, Inc. | SVP, Global Product & Supply Chain Mgmt. | 2004–2018 | Ran global biologics product and supply chain management . |
| Merck & Co., Inc. | Director/Business Partner and other roles | 1988–2004 | Various leadership roles in manufacturing/supply . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public company board or external directorships disclosed for Horan . |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Bonus ($) | Notes |
|---|---|---|---|---|
| 2023 | 450,000 | 40% (effective since 1/1/2022) | 162,000 | Corporate goals achieved at 90%; individual multiplier 100%, yielding 90% of target . |
| 2024 | 465,750 (effective 1/1/2024) | 40% | — | Paid 2024 NEO bonuses disclosed for other officers; Horan not an NEO in 2024 proxy . |
| One-time | — | — | — | $100,000 sign-on bonus at hire with repayment provisions through 24 months . |
Performance Compensation
- Annual bonus framework and 2023 payout:
- Metric set: corporate program milestones (R&D/clinical/regulatory), manufacturing capacity, capital raising; 2023 corporate achievement at 90%; Horan multiplier 100% → payout at 90% of target ($162,000) .
| Metric (Year) | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Corporate goals (2023) | Not disclosed | 100% | 90% corporate, 100% individual multiplier | 90% of target bonus ($162,000) | Paid early 2024 . |
- Equity awards (service-based unless noted):
- Option repricing: Company repriced certain outstanding options in April 2023 (including Horan’s) to restore retention incentives; S-1 shows repricing to $1.14 on eligible grants, while FY 2024 10-K notes repricing to $5.00 (reflecting updated company valuation) . Extended post-termination exercise periods were also adopted (see Employment Terms) .
| Grant Date | Instrument | Shares | Exercise Price | Vesting | Expiration | Source |
|---|---|---|---|---|---|---|
| 02/02/2022 | Stock Option | 340,000 (170,000 vested; 170,000 unvested as of 12/31/2023) | $1.14 (repriced) | 25% on 12/31/2022; then monthly over 36 months (1/48 monthly total) | 02/01/2032 | S-1. |
| 05/24/2023 | Stock Option | 40,000 (5,833 vested; 34,167 unvested as of 12/31/2023) | $1.14 (repriced) | 48 equal monthly installments from 05/24/2023 | 05/23/2033 | S-1. |
| 05/2024 | Stock Option | 90,000 | $3.07 | 25% on first anniversary of Nasdaq listing (IPO), then 36 monthly installments | 10-year term standard under plan | S-1. |
Note: The company’s 2024 10-K states an April 6, 2023 option repricing to $5.00 per share for 1,168,651 options; the S-1 (June 28, 2024) shows Horan’s grants reflecting a $1.14 exercise price as of 12/31/2023. Differences reflect filing timing/valuation updates .
Equity Ownership & Alignment
- Beneficial ownership (pre-IPO): 231,249 shares beneficially owned (primarily options exercisable within 60 days) as of May 31, 2024; less than 1% of outstanding shares .
- Outstanding and vesting (as of 12/31/2023):
| Grant Date | Exercisable (Vested) | Unexercisable (Unvested) | Exercise Price | Market Value Basis | Source |
|---|---|---|---|---|---|
| 02/02/2022 | 170,000 | 170,000 | $1.14 | — | S-1. |
| 05/24/2023 | 5,833 | 34,167 | $1.14 | — | S-1. |
- Hedging/pledging: Company policy prohibits hedging; pledging requires prior Board approval and pre-clearance from the Chief Legal Officer; margin accounts are prohibited .
- Ownership guidelines: No executive stock ownership guideline disclosure identified in the 2025 proxy .
Employment Terms
- Start date and role: Joined as CTO December 31, 2021; remote role with travel expense reimbursement to/from San Diego per policy .
- Signing bonus: $100,000 with repayment provisions through 24 months from start date .
- Severance and change-in-control protection (offer letter; post-IPO):
- Termination without cause or resignation with good reason: 9 months base salary continuation; up to 9 months COBRA premiums; accelerated vesting as if 3 additional months of service .
- Double-trigger within 3 months prior/12 months after a change in control: 12 months base salary; up to 12 months COBRA premiums; full target annual bonus; full acceleration of all outstanding and unvested service-based equity awards .
- Pre-IPO protection: if terminated without cause, 6 months salary and up to 6 months COBRA .
- Option exercise flexibility: For executives remaining employed through December 31, 2024, post-termination option exercise extended to 3 years for vested options; however, the extended window terminates 90 days after a “conflict” (joining/assisting competitors in NK cell therapies or lymphoma therapies) .
- Trading arrangements: No adoptions or terminations of Rule 10b5-1 or non-Rule 10b5-1 trading plans by directors or officers during Q3 2025 .
- Clawbacks: Company implemented a Dodd-Frank–compliant clawback policy; Sarbanes-Oxley 304 reimbursement obligations apply to CEO/CFO for certain restatements (company-level policy noted) .
Investment Implications
- Alignment and incentives: Horan’s compensation emphasizes service-based equity options (not PSUs), aligning value creation with share price; upcoming vesting milestones (e.g., 25% of the 90,000-share grant on first IPO anniversary, then monthly) could create incremental selling capacity, though hedging/pledging prohibitions and required pre-clearance mitigate risk of opportunistic trading .
- Retention: Post-IPO severance plus double-trigger change-in-control protections and extended option exercise windows support retention but are moderately shareholder generous (full bonus and full acceleration on double trigger) .
- Governance red flags: The April 2023 option repricing (broad-based) is a governance watch item; while intended to retain/motivate employees during a private-company period, such repricing can weaken pay-for-performance optics for senior executives .
- Company-stage risk context: FY 2024 financials show minimal revenue and significant operating investment, consistent with clinical-stage biotech profiles; execution in manufacturing capacity (a 2024 corporate goal area) is critical to value creation under Horan’s remit .
Sources: Company DEF 14A (Apr 29, 2025), FY 2024 10-K (Mar 24, 2025), S-1/S-1A (Jun 28/Jul 15, 2024), Q3 2025 10-Q (Nov 12, 2025) as cited above.