Anthony E. Altig
ASSEMBLY BIOSCIENCESAbout Anthony E. Altig
Independent director (age 69) with 13 years of board service at Assembly Biosciences (joined January 2012). Former CFO at Biotix Holdings (2008–2017), Diversa/Verenium (2004–2007), and Maxim Pharmaceuticals; inactive CPA with a B.B.A. from the University of Hawaii at Manoa. Recognized by the Board as possessing deep finance, audit and governance expertise and designated an Audit Committee Financial Expert .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Biotix Holdings, Inc. | Chief Financial Officer | 2008–2017 | Led finance through sale to Mettler Toledo (Sept 2017) |
| Diversa Corp. (later Verenium) | Chief Financial Officer | 2004–2007 | Public company CFO |
| Maxim Pharmaceuticals, Inc. | Chief Financial Officer | — | Public biopharma CFO |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TearLab Corporation (formerly OccuLogix) | Director; Audit Committee Chair | — | Public company until taken private July 2020 |
| MultiCell Technologies, Inc. | Director | — | Public company directorship |
| Optimer Pharmaceuticals, Inc. | Director | — | Acquired by Cubist (Oct 2013) |
Board Governance
- Committees: Audit (Chair), Nominating & Governance (Member). Committee meetings held in 2024: Audit 5, Compensation 5, Nominating & Governance 4, Science & Technology 1 .
- Independence: Board determined Altig is independent under Nasdaq rules; independent Chair structure; independent directors held four executive sessions in 2024 .
- Attendance: All directors attended at least 75% of Board and applicable committee meetings in 2024; policy encourages attendance at annual meeting, and all directors at that time attended .
- Audit Committee Expert: Altig designated an “audit committee financial expert” per Item 407(d) of Regulation S‑K .
- Related-party oversight: Audit Committee reviews and approves related person transactions; Gilead (28.9% holder, two designee directors) agreements are subject to governance oversight .
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Cash fees earned | $65,000 |
| Option award grant-date fair value | $31,751 |
| Total | $96,751 |
Cash fee structure (standard rates): Board retainer $40,000; Audit Chair $20,000; Nominating & Governance member $5,000; no per-meeting fees .
Performance Compensation
| Element | 2024 Grant | Vesting | Notes |
|---|---|---|---|
| Non-employee director option grant (re-elected) | 2,750 options (per director) | Vests in full upon earlier of first anniversary or next annual meeting | Exercise price set at fair market value on grant date; 10-year term |
| New director grant (if applicable) | 5,500 options | Vests over 3 years in roughly equal annual installments | Standard director on-boarding award |
No director RSUs/PSUs disclosed; director equity is time-vested options with at-market pricing, aligning value with stock performance .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | 0 (per Board skills matrix) |
| Prior public boards | TearLab (audit chair), MultiCell, Optimer (acquired 2013) |
| Interlocks/potential conflicts | None disclosed; Altig is not a Gilead designee; Audit Committee oversees related-party transactions |
Expertise & Qualifications
- Financial leadership: multi-company public CFO; inactive CPA .
- Audit/governance: Audit Committee Chair; SEC “financial expert” designation .
- Strategic and operational experience across pharma/biotech .
Equity Ownership
| Measure (as of April 8, 2025) | Shares/Units | Notes |
|---|---|---|
| Shares beneficially owned | 11,747 (less than 1%) | |
| Direct common shares | 666 | |
| Options exercisable within 60 days | 11,081 | |
| Unexercised options held at 12/31/2024 | 11,914 | |
| Hedging/pledging | Prohibited by Insider Trading Policy; no pledges known to the company | |
| Stock ownership guidelines | Company does not currently maintain stock ownership guidelines; reviews annually |
Governance Assessment
-
Strengths
- Independent Audit Chair and SEC-designated financial expert; clear oversight of financial reporting, cybersecurity, and related-party transactions—supportive of investor confidence .
- Strong attendance and independent board leadership structure (independent Chair; executive sessions) .
- Director pay is modest and primarily time-vested options at fair market value, aligning incentives with stock performance; no meeting fees .
-
Potential concerns and RED FLAGS
- No stock ownership guidelines (company-wide) may limit formal alignment requirements for directors/executives; committee reviews annually. RED FLAG: absence of ownership guidelines can be viewed as weaker alignment practice in biotech peers .
- Significant strategic relationship and ownership by Gilead (28.9%) with two board designees; while Altig is independent, related-party exposure requires continued robust Audit Committee oversight .
-
Shareholder feedback signal
- Say-on-Pay support at ~99% in 2024 indicates broad investor approval of compensation framework; targeted outreach continued with >1% holders .
Overall: Altig’s deep finance/audit background, independence, and role as Audit Chair bolster board effectiveness and risk oversight. The lack of stock ownership guidelines is a notable alignment gap; however, hedging/pledging prohibitions and option-based director equity partially mitigate alignment concerns .