Angela Cacace
About Angela Cacace
Angela Cacace, Ph.D., is Chief Scientific Officer of Arvinas, appointed effective June 17, 2024, and has been employed by the company since September 4, 2018 . She has three decades of drug discovery experience spanning neuroscience and oncology across modalities; she earned a B.S. in Biology from Fairfield University, a Ph.D. in Pharmacology from Columbia University, and completed postdoctoral research in Oncology at Bristol-Myers Squibb and the National Cancer Institute . For 2024, Arvinas’ corporate goals were achieved at 104%, and named executive officer (NEO) bonuses (including Dr. Cacace) were determined solely by corporate performance; her 2025 annual base salary and target bonus opportunity are $500,763 and 45% of base salary, respectively .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Arvinas | SVP, Neuroscience and Platform Biology | 2018–2024 | Led the evolution of the PROTAC Discovery Engine, including new E3 ligases and blood-brain barrier penetration for neurologic targets . |
| Fulcrum Therapeutics | VP, Biology | 2016–2018 | Built the biology platform, grew scientific teams, delivered first development candidates, and guided translational biomarkers . |
| Bristol-Myers Squibb | Director, Neuroscience and Genetically Defined Diseases | 1998–2006; 2007–2016 | Spearheaded alternative therapeutic modalities; co-inventor on several development candidates; built research-wide teams/functions including Lead Discovery & Optimization . |
| Pfizer | Senior Principal Scientist, Cancer Biology | Not disclosed | Discovered a novel anti-angiogenic antibody development candidate . |
Fixed Compensation
| Metric | 2024 | 2025 |
|---|---|---|
| Base Salary (Annualized) | $485,000 | $500,763 |
| Salary Paid (W-2 “Salary” in SCT) | $464,753 | — |
| Target Bonus % | 40% → 45% upon CSO appointment | 45% |
| Actual Cash Bonus | $217,600 | — |
| Payout vs Target | 99.7% | — |
Performance Compensation
Annual Cash Incentive (2024)
| Metric | Target | Actual | Payout |
|---|---|---|---|
| Corporate goals achievement (company-wide) | 100% | 104.0% (funded from 107.5%) | 99.7% of individual target (Cacace) |
Notes:
- 2024 NEO bonuses were tied solely to corporate goals; Dr. Cacace’s individual target increased from 40% to 45% upon becoming CSO on June 17, 2024 .
Equity Awards (2024)
Annual grants (February 23, 2024)
| Award type | Shares/Options | Exercise Price | Vesting | Grant date |
|---|---|---|---|---|
| RSUs | 15,835 | — | 50% on 2/23/2025; 50% on 2/23/2026 | 2/23/2024 |
| Options | 23,425 | $47.00 | 50% on 2/23/2025; 50% on 2/23/2026 | 2/23/2024 |
Promotional grants (June 17, 2024)
| Award type | Shares/Options | Exercise Price | Vesting | Grant date |
|---|---|---|---|---|
| RSUs | 15,995 | — | 50% on 6/17/2025; 50% on 6/17/2026 | 6/17/2024 |
| Options | 24,632 | $24.94 | 50% on 6/17/2025; 50% on 6/17/2026 | 6/17/2024 |
Program design observations:
- In 2024, annual equity shifted to 50% options / 50% time-based RSUs; promotional grants recognized increased responsibilities upon CSO appointment .
Equity Ownership & Alignment
Beneficial Ownership (as of March 31, 2025)
| Holder | Shares Beneficially Owned | % of Outstanding |
|---|---|---|
| Angela Cacace, Ph.D. | 211,489 | <1% |
Policies:
- Executives are prohibited from hedging or pledging company stock; a Dodd-Frank compliant clawback policy applies to incentive compensation .
- No new or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements by directors or officers during Q3 2025; open-market sales may occur for tax withholding or diversification consistent with policy .
Outstanding Equity (12/31/2024 snapshot)
RSUs unvested
| RSUs Unvested (#) | Market Value ($) |
|---|---|
| 9,581 | $183,668 |
| 15,835 | $303,557 |
| 15,995 | $306,624 |
Options by grant (selected details)
| Grant (Option) | Exercisable | Unexercisable | Exercise Price | Expiration | Vesting status/notes |
|---|---|---|---|---|---|
| Legacy grants (various 2018–2023) | 33,654; 20,470; 26,667; 35,458; 37,116; 17,577 | 1,542; 15,284; 20,773 | $16.00; $19.36; $47.38; $78.30; $64.19; $34.37 | 9/25/2028; 2/28/2029; 2/26/2030; 2/25/2031; 2/22/2032; 2/21/2033 | Remaining monthly vesting per grant footnotes (to 2025–2027) |
| Annual 2024 grant | — | 23,425 | $47.00 | 2/22/2034 | 50% vests 2/23/2025; 50% vests 2/23/2026 |
| Promotional 2024 grant | — | 24,632 | $24.94 | 6/16/2034 | 50% vests 6/17/2025; 50% vests 6/17/2026 |
Employment Terms
- Role, start, and status: CSO since June 17, 2024; employed since September 4, 2018; at-will employment .
- Base salary and bonus: Effective January 1, 2025, base salary $500,763 and target annual bonus up to 45% of base salary; bonus may be paid in cash, equity, or both .
- Good Reason (summary): Material diminution in duties, material cut in base compensation, required relocation >50 miles, or material breach by company following notice and cure; detailed in amended agreement .
- Severance and Change-in-Control (double trigger):
- Without CIC: 9 months’ base salary continuation and up to 9 months COBRA premium subsidy upon termination without cause or resignation for good reason (subject to release and covenants) .
- With CIC (termination within 12 months): 12 months’ base salary, lump sum 100% of target bonus, up to 12 months COBRA premium subsidy, and full acceleration of unvested equity .
| Scenario | Salary Continuation | Target Bonus (lump sum) | Equity | COBRA Subsidy |
|---|---|---|---|---|
| No CIC, qualifying termination | 9 months | — | — | Up to 9 months |
| CIC + qualifying termination | 12 months | 100% of target | Full acceleration | Up to 12 months |
- Governing law and other: Connecticut law; jury trial waiver; agreement supersedes prior terms; confirms board approvals for outside boards (limited exceptions) .
Compensation Structure Analysis
- Equity mix increased in 2024 from prior years to a 50/50 split between options and time-based RSUs for annual grants; promotional awards recognized increased scope at CSO appointment .
- Base salary increased 12.3% on June 17, 2024 (retroactive to May 17) upon becoming CSO; 2024 annualized base salary $485,000 vs. $395,987 in 2023 .
- 2024 bonuses were purely corporate-goal based; company set/funded at 104% performance (from 107.5%), indicating some discretion in pool allocation while maintaining corporate linkage .
- Governance protections: prohibitions on hedging/pledging; no tax gross-ups; no option repricing without shareholder approval; formal clawback policy adopted .
- Peer group and benchmarking: Compensation set using a biotech peer group and Radford survey; peer group includes oncology/neurology-focused, later-stage peers (e.g., Arrowhead, Arcus, Relay, Revolution Medicines; additions/adjustments in 2024) .
- Say-on-pay support remained high (over 93% approval at the 2024 annual meeting) .
Investment Implications
- Alignment and retention: A meaningful portion of pay is equity-based (options and RSUs) with substantial vesting tranches in 1H25 and 1H26, aligning incentives to medium-term value creation and supporting retention; full double-trigger acceleration within 12 months post-CIC reduces change-in-control friction but is within market norms .
- Selling pressure: Policy allows open-market transactions for tax withholding/diversification and prohibits pledging/hedging; no 10b5-1 adoptions/terminations in Q3’25, modestly reducing near-term programmatic selling signals .
- Pay-for-performance construct: Cash bonuses hinge entirely on corporate goals (not TSR/financial metrics), which can concentrate incentives on R&D and BD milestones; 2024 corporate goal achievement at 104% drove a near-target payout for Dr. Cacace .
- Governance risk: No tax gross-ups, no option repricing, and a Dodd-Frank clawback reduce governance red flags; high say-on-pay support suggests low shareholder dissent on pay practices .
Selected operating/strategy context: As CSO, Dr. Cacace publicly highlighted differentiated preclinical data for ARV-806 (KRAS G12D degrader), underscoring leadership in targeted protein degradation with potential best-in-class profile in G12D-mutant cancers .