Christian Vasquez
About Christian Vasquez
Christian Vasquez is Chief Accounting Officer, Controller and Corporate Secretary at BioAtla (BCAB). He joined BioAtla in 2015 and was promoted to CAO in 2024; prior roles included SVP Finance (2023–2024) and VP Finance/Corporate Controller (2020–2024) . He is 49, holds a BS in Accountancy from San Diego State University, and is a California CPA; earlier roles include Cricket Communications (2008–2015) and KPMG audit . Company performance context: Pay-versus-performance shows TSR deterioration and continued net losses (2022–2024), underscoring a high-risk development profile rather than CAO-specific KPIs (see table below) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| BioAtla, Inc. | Chief Accounting Officer, Controller & Corporate Secretary | 2024–present | Executive finance/accounting leadership; officer status for bonus/RSU programs . |
| BioAtla, Inc. | SVP Finance | 2023–2024 | Elevated finance leadership ahead of promotion to CAO . |
| BioAtla, Inc. | VP Finance & Corporate Controller (Controller since 2015) | 2020–2024 (Controller since 2015) | Built reporting/controls during growth and financing cycles . |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Cricket Communications (acquired by AT&T) | Associate Director of Accounting | 2008–2015 | Led accounting through acquisition by AT&T . |
| KPMG (San Diego) | Audit practice | Not disclosed | Public company audit experience; CPA credentialing . |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base salary ($) | $317,000 | — | — |
| Target bonus (% of base) | 30% (VP level) | — | 40% effective Jan 1, 2024 (upon promotion to CAO) |
| Actual annual bonus ($) | $90,345 (90% payout factoring 75/25 corporate/individual weighting for VP level) | $115,800 (98% of target; paid Feb 2024) | — |
Performance Compensation
Annual bonus design and payout (company-level plans applied to executives; payout to Mr. Vasquez shown where disclosed):
| Year | Plan metrics and weightings | Company payout factor | Mr. Vasquez payout |
|---|---|---|---|
| 2022 | Corporate: Clinical 55%, R&D 25%, Strategic 20%; VP-level weighting 75% corporate/25% individual | 90% | $90,345 |
| 2023 | Corporate: Business 15%, Clinical 45%, R&D 20%, Strategic 20% | 98% | $115,800 |
| 2024 | Corporate: Business 10%, Clinical 40%, R&D 10%, Strategic 40%; evaluated vs detailed 70%/30% goals; committee determined 62.5% payout | 62.5% | Not disclosed (applied to CEO/CFO/CMO in filings) |
Equity mix and design:
- Shift from stock options to RSUs in 2024 to emphasize retention and alignment; RSUs vest over 4 years (one-year cliff then quarterly) .
Equity Ownership & Alignment
- Beneficial ownership (as of March 31, 2023): 119,081 shares; <1% of outstanding .
- Components (within 60 days of 3/31/2023): 1,122 RSUs due to vest; 2,221 options exercisable .
- Ownership and trading policy: Hedging and pledging of company stock prohibited for executives; executives subject to stock ownership guidelines (CEO 3x salary; other executive officers 1x salary; 5-year compliance window) .
| Ownership detail | Amount/Status |
|---|---|
| Beneficial ownership (# shares) | 119,081 (<1%) as of 3/31/2023 |
| RSUs vesting within 60 days (3/31/2023) | 1,122 |
| Options exercisable within 60 days (3/31/2023) | 2,221 |
| Hedging/pledging | Prohibited by policy |
| Exec ownership guidelines | 1x base salary for other execs (5-year window) |
Equity Awards and Vesting Schedule
| Award type | Grant date | Quantity | Key terms |
|---|---|---|---|
| Stock options | Feb 21, 2022 | 44,000 | Exercise price $6.75; 4-year vest (25% at 1-year, then 36 monthly thereafter) . |
| RSUs | Feb 15, 2024 | 70,000 | 25% vests Feb 15, 2025; remainder quarterly over 3 years; standard continued-service requirement . |
Implication for selling pressure:
- The 2024 RSUs begin vesting on Feb 15, 2025 and then in equal quarterly installments, creating periodic potential liquidity events subject to trading windows and policy compliance .
Employment Terms
| Topic | Terms |
|---|---|
| Employment status | At-will; officer compensation and equity determined by Compensation Committee/Board . |
| Change-in-control (CIC) severance plan | Participant in BioAtla Management CIC Severance Plan (double trigger): upon termination without cause or resignation for good reason within 12 months post-CIC: cash severance equal to 0.75x base salary; prorated target bonus; full vesting of outstanding equity (at target for any performance awards if period incomplete); release required . |
| Clawback | Compensation recovery policy implemented Oct 2, 2023; recovery upon restatement and may apply for non-restatement miscalculations/legal violations . |
| Hedging/pledging | Prohibited . |
Company Performance Context (for compensation alignment)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| TSR – Value of $100 investment (year-end) | $42.03 | $12.53 | $3.01 |
| Net loss (millions) | $106.5 | $123.5 | $69.8 |
Additional 2025 YTD context (nine months ended Sep 30, 2025):
- Revenue: $11.0 million (collaboration/other) .
- Net loss: $(49.8) million .
Governance, Compliance, and Signals
- Say-on-pay: 2025 advisory vote passed (votes for exceeded against) .
- Section 16 compliance: Company reported late Form 4 filings in 2023, including for Mr. Vasquez in connection with February 9, 2023 option grants (administrative error) .
- Director/exec ownership policies and guidelines in effect; indemnification agreements standard for officers .
Investment Implications
- Alignment and retention: Promotion to CAO and inclusion in executive bonus/RSU programs, with RSU-heavy mix since 2024, increases retention incentives and aligns wealth with stock price over a multi-year schedule .
- Selling pressure monitor: Quarterly RSU vesting from Feb 2025 onward can create periodic supply; monitor Form 4s and trading windows for sales tied to vesting events .
- Downside protection vs. leverage: Shift from options to RSUs reduces upside leverage but maintains value in low-price environments, favoring retention over high-beta incentives amid negative TSR/net losses .
- Change-in-control economics: Double-trigger severance (0.75x salary plus prorated bonus and full vesting) is moderate; not overly shareholder-unfriendly (no single-trigger acceleration), limiting windfall risk while preserving retention in a transaction .
- Governance/controls: Clawback and anti-hedging/pledging policies lower governance risk; 2023 late Section 16 filing appears administrative, but continued monitoring of insider filings is prudent .