Christian Hassig
About Christian Hassig
Christian “Chris” Hassig, Ph.D., age 53, is Chief Scientific Officer of Boundless Bio (BOLD), a role he has held since November 2019. His background spans senior R&D leadership in precision oncology, including prior roles as CSO and SVP of Research at Sierra Oncology, VP of Drug Discovery at Sanford Burnham Prebys, and discovery roles at Kalypsys; he holds a B.A. (UC San Diego), a Ph.D. in Molecular and Cellular Biology (Harvard), and completed a postdoctoral fellowship at UC Berkeley . The proxy discloses 2024 annual cash bonus funding at 90% of target based on corporate product/pipeline and corporate development goals, but does not quantify TSR or financial performance linkages for executive pay .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Sierra Oncology, Inc. | Chief Scientific Officer; SVP, Research | Jun 2016–Nov 2019 | Led research leadership; precision oncology focus |
| Sanford Burnham Prebys Medical Discovery Institute | Vice President, Drug Discovery | Not disclosed | Led discovery and development of novel small molecules against innovative targets |
| Kalypsys, Inc. | Biology and Lead Discovery roles | Not disclosed | Multiple discovery positions in small molecule drug discovery |
External Roles
- No public company directorships or external board roles for Dr. Hassig are disclosed in the executive officer biographies section of the 2025 proxy .
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | Actual Bonus Paid ($) |
|---|---|---|---|
| 2024 | 453,118 | 40% of base salary | 158,276 |
| 2023 | 415,000 | — | 145,250 |
- 2024 base salary progression: increased from $415,000 to $431,600 effective Jan 1, 2024, then to $460,000 effective Apr 1, 2024 (in connection with the IPO) .
Performance Compensation
Annual Incentive (Cash)
| Metric | Weighting | Target | Company Funding | Individual Payout | Timing |
|---|---|---|---|---|---|
| Corporate goals: product development/pipeline and corporate development | Not disclosed | 40% of annual base salary | 90% of target funded for 2024 | $158,276 for 2024 | Bonuses usually determined/paid in Q1 following year |
Equity Awards (2024 Grants and Repricing)
| Grant Date | Instrument | Shares | Exercise Price ($) | Vesting | Notes |
|---|---|---|---|---|---|
| Feb 15, 2024 | Stock Options (2018 Plan) | 76,172 | 8.19 | 4 years, equal monthly installments from vesting commencement | Subject to Severance Plan acceleration terms |
| Mar 27, 2024 | Stock Options (2024 Plan) | 48,703 | 16.00 | 4 years, equal monthly installments from vesting commencement | Granted in connection with IPO |
| Aug 19, 2024 | Option Repricing | — | Reset to 3.56 (closing price on repricing date) | Existing vesting schedules unchanged | “Premium End Date” through earlier of Aug 19, 2026, CIC, or qualifying termination; early exercise before premium end reverts to original strike (e.g., 4.10/8.19/16.00 as applicable) |
- 2024 option award fair value includes incremental value from Aug 2024 repricing: $70,290 for Dr. Hassig (ASC 718) .
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Total beneficial ownership (Apr 25, 2025) | 234,093 shares; 1.0% of outstanding |
| Direct/common shares | 25,641 |
| Options exercisable or exercisable within 60 days | 208,452 |
- Anti-hedging and derivatives: Company policy prohibits hedging (e.g., prepaid forwards, swaps, collars, exchange funds) and trading in derivative options on Company stock .
- Pledging/margin: Company policy prohibits pledging Company securities as collateral and purchasing on margin or placing in margin accounts, absent pre-approved exceptions .
- Insider trading controls: Preclearance required for directors/officers; blackout periods may be imposed .
Outstanding Equity Awards at 12/31/2024 (Options)
| Grant Date | Vesting Commencement | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|---|
| 12/3/2019 | 10/28/2019 | 38,461 | — | 3.56 (repriced; see note) | 12/2/2029 |
| 12/2/2020 | 1/1/2021 | 10,042 | 214 | 3.56 (repriced; see note) | 12/1/2030 |
| 6/7/2021 | 6/7/2021 | 54,965 | 7,854 | 3.56 (repriced; see note) | 6/6/2031 |
| 6/13/2023 | 6/13/2023 | 35,572 | 59,299 | 3.56 (repriced; see note) | 6/12/2033 |
| 2/15/2024 | 2/15/2024 | 15,866 | 60,306 | 3.56 (repriced; see note) | 2/14/2034 |
| 3/27/2024 | 3/27/2024 | 9,131 | 39,572 | 3.56 (repriced; see note) | 3/26/2034 |
Note: Repriced on Aug 19, 2024; if exercised before the “Premium End Date,” exercise prices revert to original levels: legacy grants $4.10; Feb 15, 2024 grants $8.19; Mar 27, 2024 grants $16.00 .
Employment Terms
| Term | Summary |
|---|---|
| Role/Start | Chief Scientific Officer since November 2019 |
| Target bonus | 40% of base salary (2024) |
| Severance Plan Tier | Tier 2 Covered Employee |
| Termination (outside CIC) | Cash severance lump sum: 9 months base pay; COBRA paid for 9 months; no time-based equity acceleration for Tier 2 (only Tier 1 receives 12-month acceleration) |
| Termination within 12 months after CIC (double trigger) | Lump sum: 12 months base pay + 1.0× target bonus; COBRA for 12 months; 100% acceleration of time-based equity; performance awards vest at target unless award agreement provides otherwise |
| Definitions | Good Reason (material diminution of role/comp, relocation >35 miles, material breach; notice/cure windows apply) ; Cause (fraud/illegality, willful misconduct, gross negligence, material policy breach with process) |
| Clawback | Nasdaq-compliant clawback policy adopted (see 2024 10-K for policy access) |
| Restrictions | Non-solicitation and non-disparagement covenants apply as conditions for severance |
Investment Implications
- Pay mix and leverage: Hassig’s compensation skews heavily to equity options, with sizeable 2024 grants and broad historical option overhang; 2024 option repricing lowered strike to $3.56 with a Premium End Date mechanic, improving retention incentives but signaling prior underwater awards and adding ASC 718 incremental value ($70,290) to 2024 comp .
- Bonus-performance linkage: Annual bonuses are tied to company-wide R&D and corporate development objectives; 2024 plan funded at 90% (Hassig paid $158,276), indicating partial achievement but limited disclosure on metric weighting targets—typical of development-stage biotech .
- Alignment and trading risk: Beneficial ownership of ~1.0% (234,093 shares including 208,452 options within 60 days) provides moderate alignment; stringent insider policies (no hedging, no pledging/margin) reduce misalignment and forced-sale risk, though monthly vesting could create ongoing drift of saleable shares as options vest .
- Change-in-control dynamics: Double-trigger CIC terms (12 months base + 1× target bonus; full acceleration of time-based equity) can concentrate executive liquidity at deal close, potentially adding sell pressure post-transaction; outside CIC, Tier 2 lacks equity acceleration, supporting retention in normal course .
- Governance signals: Use of an independent compensation consultant (Alpine Rewards) and adoption of a Dodd-Frank compliant clawback are positives; however, the August 2024 option repricing is a governance red flag to some investors, albeit structured with a “Premium End Date” to discourage opportunistic early exercises .