Andrew Saik
About Andrew Saik
Andrew Saik is Chief Financial Officer and Treasurer of Arvinas, appointed June 24, 2024 . He has 20+ years of biopharmaceutical finance experience, including CFO roles at Intercept Pharmaceuticals (June 2021–June 2024), Vyne Therapeutics (2020–2021), PDS Biotechnology/Edge Therapeutics (2017–2020), Vertice Pharma (2015–2017), and Auxilium Pharmaceuticals (2014–2015) . He holds an MBA from the University of Southern California and a BA from UCLA; age 55 . Notable prior outcomes include raising over $135 million at Vyne, managing IR and communications through multiple Phase 3 data releases at Intercept, and helping complete Endo’s acquisition of Paladin Labs and restructuring $3 billion of debt .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Intercept Pharmaceuticals | Chief Financial Officer | Jun 2021–Jun 2024 | Managed investor relations and communications through multiple Phase 3 data releases |
| Vyne Therapeutics | Chief Financial Officer | 2020–2021 | Built U.S. finance function, renegotiated debt, helped raise >$135 million |
| PDS Biotechnology (formerly Edge Therapeutics) | Chief Financial Officer | 2017–2020 | Senior finance leadership as CFO |
| Vertice Pharma | Chief Financial Officer | 2015–2017 | Senior finance leadership as CFO |
| Auxilium Pharmaceuticals | Chief Financial Officer | 2014–2015 | Senior finance leadership as CFO |
| Endo Health Solutions | SVP Finance & Treasurer | 2013–2014 | Completed Paladin Labs acquisition; restructured $3B of debt |
External Roles
No public company board directorships disclosed for Mr. Saik in the proxy .
Fixed Compensation
| Metric | 2024 | 2025 |
|---|---|---|
| Base Salary ($) | 525,000 | 542,063 |
| Target Bonus (% of base) | 45% | 45% |
2024 bonus outcome and calculation:
| Component | Value |
|---|---|
| Target Bonus ($) | 236,250 |
| Corporate Achievement Factor (%) | 104.0% |
| Proration/Ratio (% of target) | 54.0% |
| Actual Bonus Paid ($) | 127,600 |
Performance Compensation
2024 corporate performance framework (payouts for all executives, including CFO, were based solely on corporate goals):
| 2024 Goals | Allocation (%) | Actual Level of Achievement (%) | Calculated Weighting (Rounded %) |
|---|---|---|---|
| Advance Vepdegestrant (VERITAC-2 NDA prep) | 25 | 120 | 30.0 |
| Expand vepdegestrant program (1L/2L) | 10 | 125 | 12.5 |
| Initiate U.S. commercial readiness | 5 | 125 | 6.3 |
| Advance ARV-766 (out-license or value) | 20 | 125 | 25.0 |
| Pipeline: ARV-393 Phase 1 | 5 | 0 | 0.0 |
| Pipeline: ARV-102 SAD completion | 5 | 175 | 8.8 |
| Pipeline: KRAS G12D IND-enabling | 5 | 100 | 5.0 |
| Pipeline: Clinical candidate nomination | 5 | 150 | 7.5 |
| Pipeline: Lead optimization | 5 | 100 | 5.0 |
| Corporate Objectives (cash runway/cost savings) | 15 | 50 | 7.5 |
| Overall corporate goal achievement was 107.5% but bonuses were based on 104.0% after allocating a special bonus pool to employees . |
Equity awards and vesting (CFO-specific):
| Award | Grant Date | Quantity | Exercise Price ($) | Vesting Schedule | Expiration |
|---|---|---|---|---|---|
| Stock Options | 06/24/2024 | 94,418 | 24.97 | 25% on 06/24/2025; remainder monthly to 06/24/2028 | 06/23/2034 |
| RSUs | 06/24/2024 | 61,409 | N/A | 25% on 06/24/2025; remainder annually to 06/24/2028 | N/A |
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Shares Beneficially Owned | — (less than 1%) |
| Ownership as % of Outstanding | <1% |
| Options Exercisable (12/31/24) | 0 |
| Options Unexercisable | 94,418 |
| RSUs Unvested | 61,409 |
| RSUs Market Value at 12/31/24 ($19.17/share) | 1,177,211 |
| Option Intrinsic Value at 12/31/24 | $0; out-of-the-money (strike $24.97 vs $19.17 share price) |
| Hedging/Pledging | Prohibited for executive officers by Insider Trading Policy |
| Clawback | Dodd-Frank compensation recovery policy adopted; applies to all current/former executive officers |
Stock ownership guidelines for executives are not disclosed in the proxy; however, hedging and pledging are explicitly prohibited .
Employment Terms
| Scenario (as of 12/31/24) | Cash Severance | Target Bonus Payout | Equity Vesting | Health Benefits (COBRA) | Total Est. |
|---|---|---|---|---|---|
| Termination by company without cause or for good reason (no CoC) | $393,750 (9 months) | $0 | None | $22,717 (up to 9 months) | $416,467 |
| Termination by company without cause or for good reason within 12 months of CoC (double-trigger) | $525,000 (12 months) | $236,250 (100% target) | Full acceleration of unvested equity; RSUs valued at $1,177,211 | $30,289 (up to 12 months) | $1,968,750 |
Additional terms:
- Severance eligibility requires execution/nonrevocation of a release and continued compliance with proprietary rights, non-disclosure, developments, non-competition and non-solicitation agreements .
- The company prohibits repricing of stock options without stockholder approval and does not provide tax gross-ups .
- Insider Trading Policy and 10b5-1 plan framework in place; executives may adopt 10b5-1 trading plans subject to policy and pre-clearance .
- Mr. Saik signed the June 6, 2025 Form 8-K reporting Ian Taylor’s retirement and consulting arrangement as CFO .
Investment Implications
- Pay-for-performance alignment: Cash incentives are tied to corporate milestones in clinical development and business objectives; 2024 bonus was prorated given mid-year appointment, yielding 54% of target and $127,600 actual payout . Equity awards are time-based and vest over four years, supporting retention through 2028 .
- Near-term selling pressure: First major vest date is June 24, 2025 (25% of options and RSUs); options were out-of-the-money at year-end 2024 ($24.97 strike vs $19.17), reducing immediate exercise pressure, but RSU deliveries may increase sellable float around vest dates; hedging/pledging is prohibited, moderating risk of misalignment .
- Change-in-control economics: Double-trigger acceleration with 1x salary and 1x target bonus plus full equity vesting is moderate relative to biotech norms, balancing retention and alignment without excessive parachutes .
- Governance quality: Robust clawback policy, no option repricing without stockholder approval, and strong say-on-pay support (93% in 2024), indicate shareholder-friendly practices; compensation benchmarking uses a defined peer group across late-stage oncology/neurology biotech, supporting market alignment .