Robert Renninger
About Robert Renninger
Robert Renninger, 41, is Senior Vice President, Finance and Accounting at Athira Pharma (ATHA). He became an executive officer in October 2024 and assumed the SVP role in February 2025 after serving as VP Finance, Senior Director, and Director of Finance since joining Athira in 2020 . He previously held finance and accounting roles at Infobip (formerly OpenMarket), Baker Hughes, and Ernst & Young (EY). He holds a Master of Accounting from the University of Michigan (2007) and a B.A. in Accounting from Seattle University (2006) . Company performance context during his tenure: Athira reported 2024 net loss of $96.9M, with cash/investments of $51.3M; R&D expenses were $70.7M and G&A $26.1M .
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Cash, cash equivalents and investments ($M) | $147.4 | $51.3 |
| R&D expenses ($M) | $93.8 | $70.7 |
| G&A expenses ($M) | $33.3 | $26.1 |
| Net loss ($M) | $117.7 | $96.9 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Athira Pharma | SVP, Finance & Accounting | Feb 2025–present | Leads finance/accounting post-strategic shift to ATH‑1105; principal finance oversight |
| Athira Pharma | VP Finance; Principal Financial & Accounting Officer | Jan 2022–Feb 2025 | Stewarded finance through program pivot and RIF; implemented retention incentives mechanics |
| Athira Pharma | Senior Director of Finance | Sep 2020–Jan 2022 | Built finance processes as company matured |
| Athira Pharma | Director of Finance | Jul 2020–Sep 2020 | Early finance leadership post‑IPO scaling |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Infobip (formerly OpenMarket) | Financial Controller | Jul 2019–Jul 2020 | Led finance at global communications platform |
| Baker Hughes | Technical Controller | Sep 2017–May 2019 | Controlled technical accounting in energy sector |
| Ernst & Young (EY) | Various roles (Senior Manager most recent) | Sep 2007–Sep 2017 | Auditing/assurance across pharma/tech/energy clients |
Fixed Compensation
Not disclosed for Mr. Renninger in available filings. Athira’s named executive officers’ base salary and target bonus details are disclosed; Renninger is not among those named executives for 2024 .
Performance Compensation
Retention and annual bonus structure signal alignment and near-term vesting cadence.
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Retention equity awards granted Oct 2024:
- RSUs: 37,077 units; vest 1/3 on Dec 31, 2024; 1/3 on Jun 30, 2025; 1/3 on Dec 31, 2025; subject to acceleration upon certain change-of-control transactions .
- Stock options: 37,077 shares at $0.4499 strike; same 1/3 vesting cadence; subject to acceleration upon certain change-of-control transactions .
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2024 cash retention adjustment:
- Company’s 2024 Corporate Goals achievement percentage was automatically increased by 25 percentage points for retention participants (including Renninger) .
- Corporate Goals outcomes (company level): base achievement 90% determined by compensation committee; with retention boost, effective achievement was 115% .
| Incentive element | Metric/terms | Weighting/target | Actual outcome/payout basis | Vesting |
|---|---|---|---|---|
| RSUs (2024 retention) | 37,077 units | Time-based (no explicit performance metric) | N/A | 1/3 on 12/31/2024; 1/3 on 6/30/2025; 1/3 on 12/31/2025; CoC acceleration |
| Options (2024 retention) | 37,077 @ $0.4499 strike | Time-based | N/A | Same cadence; CoC acceleration |
| Annual bonus program (company) | Clinical analyses completion | 70% weighting | Contributed to 90% base achievement; 115% with retention boost | Paid post year-end subject to plan rules |
| Annual bonus program (company) | Clinical activities completion | 15% weighting | As above | As above |
| Annual bonus program (company) | Scientific program achievements | 5% weighting | As above | As above |
| Annual bonus program (company) | Financial/business achievements | 10% weighting | As above | As above |
Notes: Executive Incentive Compensation Plan permits broad performance goals (R&D milestones, cash flow, revenue, TSR, etc.) and discretionary adjustments; awards are subject to Athira’s clawback policy .
Equity Ownership & Alignment
- Current awards: RSUs (37,077) and options (37,077) from Oct 2024 retention package, with specified vesting cadence and CoC acceleration; options priced at $0.4499 .
- Insider trading policy prohibits short sales, options/derivatives (other than compensatory awards), hedging, pledging, and margin accounts—reducing misalignment risks from pledging/hedging .
- Companywide anti-repricing: 2024 Inducement Plan does not permit option exchange programs; 2020 Equity Plan permits certain exchanges without stockholder approval; directors receive full CoC acceleration; executives have plan-level CoC provisions on certain awards .
| Award type | Quantity/terms | Vesting schedule | CoC treatment |
|---|---|---|---|
| RSUs (Retention 2024) | 37,077 units | 1/3 on 12/31/2024; 1/3 on 6/30/2025; 1/3 on 12/31/2025 | Accelerated upon certain change-of-control transactions |
| Stock options (Retention 2024) | 37,077 @ $0.4499 strike | Same 1/3 cadence | Accelerated upon certain change-of-control transactions |
| Insider policy | Prohibits pledging/hedging/margin | Ongoing | Policy enforcement reduces forced selling or misalignment |
Employment Terms
- Role/title: SVP, Finance & Accounting (executive officer since Oct 2024; SVP since Feb 2025). Previously served as VP Finance and as principal financial and accounting officer .
- Clawback: Executive compensation recovery policy aligned with Nasdaq listing standards; expanded to cover scientific retractions or corrections due to misconduct/gross negligence .
- Executive Incentive Compensation Plan: Administrator can set broad performance goals; awards payable in cash (or equity) post-year; discretion to adjust awards; employment through payment date typically required .
- Change-of-control economics: His Oct 2024 retention RSUs/options include full acceleration upon certain change-of-control transactions; broader plan-level rules provide acceleration for service-based awards upon change in control if not assumed/substituted .
Investment Implications
- Near-term unlocking cadence: RSUs and options vest one-third on June 30, 2025 and one-third on December 31, 2025, creating potential incremental selling windows; however, insider policy prohibits pledging/hedging, and any sales would be subject to trading windows and disclosure .
- Retention alignment: The 25‑point boost to 2024 Corporate Goals achievement and time‑based retention grants suggests management’s emphasis on continuity through ATH‑1105’s ALS clinical path; change‑of‑control acceleration adds sensitivity to strategic transactions .
- Execution risk context: Company shifted focus to ATH‑1105 after fosgonimeton’s LIFT‑AD miss; DOJ settlement and SEC matter concluded without enforcement against Athira; Nasdaq minimum bid compliance regained in Oct 2025—reducing listing risk but highlighting historic volatility .
- Pay-for-performance structure: Company bonus framework weighted heavily to clinical milestones (70%+), with partial achievement in 2024, indicates linkage to scientific execution; clawback coverage (including scientific integrity) tightens governance and reduces adverse incentive risk .