Thomas Trimarchi
BridgeBio PharmaAbout Thomas Trimarchi
Thomas Trimarchi, Ph.D., age 40, is President and Chief Financial Officer of BridgeBio Pharma (since March 17, 2025), following roles as President & COO (July 2024–March 2025) and Chief Product Officer (January 2022–July 2024), with prior positions from 2018–2022 leading portfolio intelligence and product functions at BridgeBio . He previously worked in corporate strategy at Regeneron (2017–2018) and as an equity analyst at Goldman Sachs (2015–2017), and holds a B.S. in Biology (University of Vermont) and a Ph.D. in Molecular Oncology and Immunology from NYU Grossman School of Medicine . Company performance in 2024 included achieving all corporate goals across commercial launch (Attruby), multiple Phase 3 enrollments, positive data, and securing up to $1.5B in financings; his 2024 bonus payout was 125% of target, reflecting leadership across core service functions enabling R&D and commercial success .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BridgeBio Pharma | President & Chief Operating Officer | Jul 2024–Mar 2025 | Led broad core service functions supporting R&D and commercial execution; promotion aligned with multi-program progress . |
| BridgeBio Pharma | Chief Product Officer | Jan 2022–Jul 2024 | Drove product strategy and portfolio execution during key clinical and BD milestones . |
| BridgeBio Pharma | SVP/VP Product; Director, Portfolio Intelligence | Apr 2018–Jan 2022 | Built product and portfolio intelligence capabilities; increased responsibilities over time . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ML Bio Solutions, Inc. (BridgeBio subsidiary) | Director | Since Nov 2021 | Governance oversight for subsidiary portfolio asset(s) . |
| Regeneron Pharmaceuticals | Corporate Strategy | 2017–2018 | Strategic projects and analysis in large-cap biopharma . |
| Goldman Sachs | Equity Analyst, Global Investment Research | 2015–2017 | Covered sector equities; analytical foundation for later operating roles . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary | $600,000 | $658,000 effective May 1, 2024; actual paid $638,786 |
| Target Bonus % | 50% | 60% effective May 1, 2024 (50% Jan–Apr), target bonus $363,395 |
| Actual Bonus Paid | — | $454,200 (125% of target) |
| All Other Compensation | — | $27,558 (401k match $13,800; imputed partner health benefits $13,758) |
Performance Compensation
| Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Annual performance-based cash bonus (discretionary) | Discretionary; no formula metric disclosed | Target $363,395 | $454,200 (125% of target) | Paid following year, subject to continued employment |
2024 Equity Grants (time-based; no PSUs disclosed):
| Grant Type | Grant Date | Shares/Options | Strike | Grant-date Fair Value | Vesting Terms |
|---|---|---|---|---|---|
| RSU (annual refresh) | Mar 18, 2024 | 121,951 | N/A | $3,391,457 | Equal quarterly over four years, first vest May 16, 2024 |
| Stock Options (promotion) | Aug 6, 2024 | 3,160 | $24.87 | $60,584 | Equal quarterly over four years, first vest Aug 16, 2024 |
| RSU (promotion) | Aug 6, 2024 | 19,003 | N/A | $472,605 | Equal quarterly over four years, first vest Aug 16, 2024 |
| RSU (retention) | Dec 10, 2024 | 50,000 | N/A | $1,452,000 | Equal annual installments on Dec 12, 2025 and Dec 12, 2026 |
Additional program design notes:
- 2024 refresh split for NEOs: 90% RSUs / 10% options; Trimarchi received 100% RSUs in March pre-executive status; promotion grant followed 90/10 split .
- No performance-based equity used for NEOs in 2024 .
Equity Ownership & Alignment
Beneficial ownership and current equity posture (as of April 1, 2025):
| Component | Amount |
|---|---|
| Common shares held | 79,172 |
| Options exercisable (vested or vesting within 60 days) | 289,420 |
| RSUs vested and releasable within 60 days | 38,545 |
| Options outstanding (unexercisable at 12/31/24) | 923 (2/10/2021), 39,532 (12/2/2021), 2,765 (8/6/2024) |
| Unvested RSUs outstanding at 12/31/24 | 4,171 (12/2/2021), 196,875 (2/7/2023), 99,086 (3/18/2024), 16,628 (8/6/2024), 50,000 (12/10/2024) |
| Anti-hedging/pledging policy | Hedging and pledging prohibited for Insiders |
| Clawback policy | Effective Oct 2, 2023; compliant with Nasdaq Rule 10D-1 |
Vesting cadence and 2024 realized vesting:
- Quarterly vesting of major RSU blocks (2019–2024 grants), creating regular release schedule; no option exercises by NEOs in 2024; RSU vesting value realized by Trimarchi in 2024: 135,072 shares, $3,980,311 .
- Retention RSUs vest annually on Dec 12, 2025 and Dec 12, 2026 .
Employment Terms
| Provision | Details |
|---|---|
| Employment offer letter date | April 16, 2018 (with Oct 9, 2024 letter agreement) |
| At-will status | Yes |
| Severance (no CiC) | Lump sum equal to 9 months base salary; up to 9 months COBRA reimbursements; release required |
| Severance (CiC; double-trigger) | 12 months base salary + lump sum target bonus + up to 12 months COBRA; release required; termination without cause or for good reason within 12 months post-sale event |
| Equity acceleration (CiC policy) | Full acceleration of time-based equity upon qualifying termination within 12 months after sale event |
| Plan-level acceleration (not assumed in sale) | Full acceleration of time-based awards if awards are not assumed/substituted/continued in sale event (plan-wide) |
| Non-compete / non-solicit | Not specifically disclosed in proxy beyond proprietary information/inventions agreement |
| Potential payments (illustrative as of 12/31/24) | Non-CiC total $528,266; CiC total $11,189,473 (includes equity acceleration $10,090,318, cash severance $1,052,800, health benefits $46,355) |
Compensation Program Governance and Policies
- Pay components: base salary, annual discretionary bonus, long-term equity (time-based RSUs and options) .
- No excise tax gross-ups for CiC; no hedging/pledging; clawback policy maintained; independent compensation consultant; annual say-on-pay .
- Amended and Restated Plan prohibits option/SAR repricing without shareholder approval; awards subject to clawback; no plan-related tax gross-ups .
Compensation Committee Context
- Compensation Committee members include directors marked (3): Jennifer E. Cook, Ronald J. Daniels, Fred Hassan, Ali J. Satvat .
Investment Implications
- Alignment and retention: Large time-based RSU inventory with equal quarterly vesting and two-year retention RSUs likely create a steady release cadence, which can lead to periodic sell-to-cover activity and predictable supply events (structural observation; vesting terms documented) .
- Incentive design: Absence of performance-based equity in 2024 reduces direct linkage to specific financial metrics (e.g., TSR, revenue/EBITDA) and relies on discretionary bonus tied to holistic corporate achievements; governance mitigants include clawback and anti-hedging/pledging .
- Change-in-control economics: Double-trigger cash plus full acceleration of time-based equity produces significant CiC value ($11.19M illustrative), which can incentivize executive continuity through a sale event but also represents meaningful potential dilution upon termination in a transaction .
- Execution track record: Board credited 2024 achievements across commercial, clinical, BD, and financing; Trimarchi received 125% of bonus target for leadership across core functions—supportive of management confidence but with discretionary determinations rather than formulaic metrics .
- Risk flags: No hedging/pledging (positive), no excise tax gross-ups (shareholder friendly), prohibition on repricing (positive); retention awards in late 2024 indicate emphasis on retention amidst high strategic activity and may modestly increase equity overhang over 2025–2026 .
Note: Ownership as a percentage of shares outstanding and explicit stock ownership guideline compliance are not disclosed in the proxy; insider Form 4 trading detail not covered here.
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