Merdad Parsey
About Merdad Parsey
Merdad Parsey, M.D., Ph.D., age 62, joined ArriVent BioPharma’s board as a Class III director effective April 28, 2025; the Board affirmed his independence under Nasdaq and SEC rules and appointed him to the Compensation Committee . He previously served as EVP and Chief Medical Officer at Gilead Sciences (Nov 2019–Apr 2025), with prior senior clinical development roles at Genentech, CEO of 3‑V Biosciences (now Sagimet), and earlier positions at Merck, Regeneron, and Sepracor; his education includes a B.S. (Microbiology & Biochemistry), M.D., and Ph.D. (Immunology) from University of Maryland, plus residency at Stanford and fellowship at the University of Colorado . As of April 21, 2025, he had no beneficial ownership in AVBP common stock; his appointment became effective after that record date .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Gilead Sciences, Inc. | EVP & Chief Medical Officer | Nov 2019 – Apr 2025 | Led global clinical development; executive leadership |
| Genentech, Inc. | SVP, Early Clinical Development; previously Respiratory lead | 2006–2015 (SVP Oct 2015–Nov 2019) | Oversaw clinical development, quality, compliance, informatics, clinical operations |
| 3‑V Biosciences (Sagimet Biosciences) | Chief Executive Officer; Director | CEO 2010–2015; Director since 2010 | Operating leadership; board service |
| NYU School of Medicine | Assistant Professor; Director of Critical Care Medicine | Not specified | Academic leadership |
| Merck; Regeneron; Sepracor (Sunovion) | Clinical development roles | Not specified | Drug development experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Sagimet Biosciences, Inc. | Director | Since 2010 | Formerly 3‑V Biosciences; continuing board service |
| Arcus Biosciences, Inc. (NYSE: RCUS) | Director | Jul 2020 – Feb 2025 | Ended prior to AVBP appointment |
Board Governance
- Classification and term: Class III director; term runs to the 2027 annual meeting; current board comprises three classes with Parsey in Class III alongside Chris Nolet .
- Independence: Board determined all non-employee directors except the two executives are independent; Parsey specifically affirmed independent under Nasdaq and Exchange Act standards .
- Committee assignments: Member, Compensation Committee; composition currently includes John Hohneker (member), Merdad Parsey (member), and Kristine Peterson (Chair) .
- Engagement/attendance context: In FY2024, the board met six times and committees met twelve times; no director attended fewer than 75% of applicable meetings (Parsey joined in 2025) .
- Lead Independent Director: Kristine Peterson appointed as Lead Independent Director (Apr 2025) with responsibilities for independent sessions and liaison functions per charter .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board Cash Retainer | $45,000 | Paid to non-employee directors; prorated for 2025 service start |
| Compensation Committee Member Retainer | $7,500 | Additional annual cash fee; prorated for 2025 |
| Other Committee Retainers (for reference) | Audit Chair $20,000; Audit Member $10,000; Comp Chair $15,000; N&CG Chair $10,000; N&CG Member $5,000; Lead Independent Director $30,000 | Policy amounts for non-employee directors generally; Parsey currently only on Compensation Committee |
Performance Compensation
| Grant | Grant Date | Grant Date Fair Value | Vesting | Term |
|---|---|---|---|---|
| Initial Non-Qualified Stock Option | Apr 28, 2025 | $352,000 | Vests annually over 3 years (service-based) | 10 years (plan standard) |
| Annual Non-Qualified Stock Option | First business day after 2025 annual meeting | $235,000 | Vests on first anniversary of annual grant date (service-based) | 10 years (plan standard) |
- No performance-conditioned metrics (e.g., TSR, revenue, ESG) are disclosed for director equity awards; awards are service-vested options under the Non‑Employee Director Compensation Policy .
Other Directorships & Interlocks
| Entity | Relationship to AVBP | Potential Interlock/Conflict Assessment |
|---|---|---|
| Sagimet Biosciences | External director role | No AVBP related-party transactions disclosed; no Item 404(a) transactions involving Parsey . |
| Arcus Biosciences | Former external director (ended Feb 2025) | Tenure ended before AVBP appointment; no Item 404(a) transactions . |
Expertise & Qualifications
- Clinical development leadership across large-cap pharma and biotech; executive-level oversight of quality, compliance, and clinical operations .
- Medical and scientific credentials: M.D./Ph.D. in Immunology; Internal Medicine residency and Pulmonary/Critical Care fellowship; prior academic leadership at NYU .
- Relevance to AVBP strategy: Company cited his experience as firmonertinib progresses toward registration and ADC pipeline advancement .
Equity Ownership
| Item | Value | As of | Notes |
|---|---|---|---|
| Beneficially owned common shares | 0 | Apr 21, 2025 | Listed as “—”; appointed Apr 23, 2025; <1% ownership . |
| Ownership % of outstanding | <1% | Apr 21, 2025 | Company had 34,045,193 shares outstanding . |
| Options granted (director policy) | Initial FV $352,000; Annual FV $235,000 | Apr 28, 2025; post-annual meeting | Service-based vesting; number of option shares not disclosed in filings . |
- Hedging/pledging: Company insider trading policy prohibits hedging, short sales, pledging/margin arrangements and requires pre-clearance and blackout compliance for directors and designated insiders .
Governance Assessment
-
Positive signals:
- Independence affirmed; no related-party transactions or arrangements disclosed with Parsey; no family relationships; appointed directly without third-party arrangements .
- Compensation structure emphasizes equity via options alongside modest cash retainers, supporting alignment with shareholder value creation; insider policy restricts hedging/pledging .
- Relevant domain expertise aligned to AVBP’s near-term regulatory and ADC goals, potentially strengthening board effectiveness in clinical and commercial strategy oversight .
-
Watch items / RED FLAGS:
- Very low near-term ownership: zero beneficial shares at record date; equity alignment will depend on option vesting over time .
- Director equity is service-vested options with no disclosed performance conditions; standard for directors but lacks explicit pay-for-performance link .
- Auditor transition (KPMG to PwC) and prior material weaknesses (remediated by Dec 31, 2024) are broader governance context to monitor though not tied to Parsey .
-
Board process and engagement:
- Compensation Committee responsibilities include CEO goal-setting, executive/director pay review, plan administration, and advisor retention with independence assessments—Parsey participates directly in these governance levers .
- Lead Independent Director structure in place to ensure independent sessions and oversight; supports board effectiveness .
Appendix: Committee Activity Context (FY2024)
| Committee | Meetings in FY2024 | Current Composition (2025) | Chair |
|---|---|---|---|
| Audit | 5 | Healy; Nolet; Peterson | Nolet |
| Compensation | 4 | Hohneker; Parsey; Peterson | Peterson |
| Nominating & Corporate Governance | 3 | Healy; Hohneker; Nolet | Hohneker |
All facts and figures cited from company filings: DEF 14A (Apr 28, 2025) and 8‑K (Apr 28, 2025) .