Arthur Kirsch
About Arthur Kirsch
Arthur S. Kirsch is a 73-year-old independent director at Atea Pharmaceuticals (AVIR), appointed in 2025. He brings decades of life sciences and healthcare finance experience, with deep M&A advisory and capital markets expertise; education includes a BA from the University of Rhode Island and an MBA from Baruch College . He serves on the Audit and Nominating & Corporate Governance Committees and is designated an Audit Committee Financial Expert; he joined the Audit Committee in March 2025, and his current director term runs through 2027 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alvarez & Marsal | Senior Advisor (life sciences practice buildout) | 2019–present | Strategic advisory; capital allocation and governance insights |
| GCA Savvian | Managing Director/Senior Advisor (Healthcare IB) | 2005–2018 | Led M&A and equity capital markets activities |
| Vector Securities / Prudential Vector Healthcare | Managing Director; Director of Healthcare Research | 1994–2005 | Oversaw 73 financings in 1999–2000; covered 200+ companies |
| NatWest Markets | CEO | 1990–1993 | Managed global securities business; established U.S. investment bank presence |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Liquidia Technologies, Inc. (LQDA) | Director | 2016–present | Public company board experience |
| Kadmon Holdings, Inc. (KFMN) | Director | 2019–2021 | Prior public board role |
Board Governance
- Independence: The Board affirmatively determined Kirsch is independent under Nasdaq rules; no family relationships among directors/executives .
- Committees: Audit (member; Financial Expert) and Nominating & Corporate Governance (member). Audit Committee members: Barbara Duncan (Chair), Franklin Berger, Arthur Kirsch, Bruno Lucidi .
- Appointment timing: Appointed to the Audit Committee in March 2025 (after FY2024 audit review completion) .
- Committee activity (FY2024): Audit met 5x; Compensation met 4x; Nominating & Corporate Governance met 1x; Strategy & Public Policy met 1x .
- Board attendance: Board met 5x in 2024; all directors serving in 2024 attended ≥75% of Board and committee meetings (Kirsch joined in 2025) .
- Term/class: Listed among current directors with term ending 2027; Board classified into three-year staggered terms .
- Audit Committee remit includes oversight of financial reporting, internal controls, cybersecurity risk, and related person transaction review/approval .
Fixed Compensation
Atea’s non-employee director cash compensation program was reviewed with Aon in May 2024; changes effective June 20, 2024:
| Compensation Type | Prior to June 20, 2024 | As of June 20, 2024 |
|---|---|---|
| Annual Retainer | $40,000 | $45,000 |
| Lead Director Fee | $25,000 | $26,000 |
| Committee Chair – Audit | $20,000 | $20,000 |
| Committee Chair – Compensation | $15,000 | $15,000 |
| Committee Chair – Nominating & Corporate Governance | $10,000 | $10,000 |
| Committee Chair – Strategy & Public Policy | $20,000 | $20,000 |
| Committee Member – Audit | $10,000 | $10,000 |
| Committee Member – Compensation | $7,500 | $7,500 |
| Committee Member – Nominating & Corporate Governance | $5,000 | $5,000 |
| Committee Member – Strategy & Public Policy | $10,000 | $10,000 |
- Cash fees paid quarterly in arrears; prorated for partial quarters .
Performance Compensation
Standard equity awards for non-employee directors (program terms):
| Equity Award | Shares | Grant-Date Valuation Details | Vesting | Other Terms |
|---|---|---|---|---|
| Initial Stock Option (upon appointment) | 164,800 shares | Exercise price = FMV on grant; 10-year term | 36 equal monthly installments | Full vesting acceleration upon change in control |
| Annual Stock Option | 41,200 shares | 2024 grant-date fair value per option: $2.24; exercise price: $3.44/share | 12 equal monthly installments (fully vested at 1 year) | Full vesting acceleration upon change in control |
| Annual RSU | 29,600 shares | 2024 grant-date fair value: $101,824 (29,600 × $3.44) | Single installment at earlier of 1-year post grant or next annual meeting | Full vesting acceleration upon change in control |
- Eligibility: Annual equity awards typically granted at annual meeting if serving ≥6 months and continuing post-meeting .
Note: The 2024 director equity values illustrate program scale; Kirsch was appointed in 2025 and is subject to the program terms applicable upon appointment and future annual meeting timing .
Other Directorships & Interlocks
| Company | Sector | Role | Potential Interlock/Conflict Notes |
|---|---|---|---|
| Liquidia Technologies (LQDA) | Biopharma | Director (2016–present) | No Atea-related transactions disclosed; independence affirmed |
| Kadmon Holdings (KFMN) | Biopharma | Director (2019–2021) | Prior role; no current transactions with Atea disclosed |
Expertise & Qualifications
- Finance/M&A and capital markets leadership spanning healthcare investment banking and global securities management; supports capital allocation rigor and strategic transaction evaluation .
- Audit Committee Financial Expert designation, enhancing financial reporting and control oversight .
- Corporate governance experience across multiple public boards; contributes to Board refreshment and independence .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | As-of Date |
|---|---|---|---|
| Arthur Kirsch | 64,021 | <1% (asterisked in proxy) | April 22, 2025 (85,579,475 shares outstanding) |
- Directors and executive officers are prohibited from pledging or hedging company stock; company maintains a clawback policy covering cash and equity incentives .
- No director stock ownership guideline disclosure was identified in the proxy; beneficial ownership presented above .
Governance Assessment
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Strengths
- Independent director with audit financial expert credential; placed on Audit and Nominating & Corporate Governance Committees, reinforcing oversight of controls, cybersecurity risk, and related-party review .
- Deep healthcare finance/M&A background adds capital allocation discipline during ongoing strategic review and late-stage development financing needs .
- Standard director comp structure blends cash retainer with equity (options and RSUs), supporting long-term alignment; change-in-control acceleration is disclosed and uniformly applied to directors .
-
Watch items and potential conflicts
- New appointee in 2025; no Atea-specific attendance history for 2024, though Board attendance was strong; monitor 2025–2026 engagement .
- Multiple external commitments (Liquidia board; Alvarez & Marsal advisory). No related-party transactions disclosed; Audit Committee reviews and must pre-approve any such transactions, mitigating conflict risk .
- Classified board structure may reduce immediate accountability in contested situations; term continuity through 2027 supports long-term program oversight .
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Shareholder alignment signals
- Equity participation through standard RSU/option grants; prohibitions on pledging/hedging and presence of clawback policy enhance alignment and accountability .
- Annual Say-on-Pay cadence maintained; next vote expected in 2026 (executive pay focus, but reflects compensation governance rigor) .