June Lu
About June Lu
June Lu, Ph.D., is Chief Scientific Officer of BeyondSpring, appointed effective April 1, 2024, following her March 2024 appointment announcement and earlier internal promotions in 2023 and 2021 . She is 59 years old, holds a Ph.D. in chemistry (biochemistry division) from Purdue University and a B.S. in analytical chemistry from Zhejiang University of Technology, with nearly 25 years of industry experience at Endocyte, Advanced Accelerator Applications (a Novartis company), and Novartis Institute for Biomedical Research . Her expertise spans translational and strategic analysis across R&D pipelines, macrophage-targeting, drug resistance, and IO combinations, with ~30 peer‑reviewed publications and multiple patents . Company‑level TSR, revenue, and EBITDA performance targets tied to her compensation are not disclosed; annual incentives are determined by a corporate performance rate and individual rate atop her 25% bonus eligibility .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BeyondSpring U.S. | Senior Director of Pre‑Clinical | Oct 2021–Jul 2023 | Built preclinical and translational foundations for pipeline assets . |
| BeyondSpring U.S. | Executive Director of Translational Medicine | Jul 2023–Apr 2024 | Led cross‑functional translational efforts across pipeline projects . |
| BeyondSpring | Chief Scientific Officer | Apr 2024–Present | Oversees scientific strategy; deep expertise in oncology IO combinations and target selection . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Endocyte | Various Director positions | Not disclosed | Worked on 177Lu‑PSMA‑617 (now Pluvicto) development; oncology strategy . |
| Advanced Accelerator Applications (Novartis) | Various Director positions | Not disclosed | Oncology radioligand portfolio exposure . |
| Novartis Institute for Biomedical Research | Various Director positions | Not disclosed | Small‑molecule strategies in cancer and autoimmunity . |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus % | All Other Compensation ($) | Notes |
|---|---|---|---|---|
| 2023 | 234,000 | Up to 25% of base salary | 9,147 | Eligibility per offer letter; at‑will employment . |
| 2024 | 253,008 | Up to 25% of base salary | 9,691 | 2024 base salary policy disclosed as $253,500; paid amount shown in SCT . |
Performance Compensation
| Year | Retention Bonus ($) | Non‑Equity Incentive Plan Compensation ($) | Bonus Mechanics | Payment Status |
|---|---|---|---|---|
| 2023 | 28,125 | 40,131 | Annual incentive = target bonus % × corporate rate × individual rate . | Paid/scheduled per SCT disclosure . |
| 2024 | – | 57,798 | Same mechanics as 2023 . | 2024 annual incentives earned but not yet paid as of 10‑K date . |
Equity Ownership & Alignment
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 39,889; less than 1% of outstanding . |
| Direct ownership (shares) | 100 shares purchased before joining . |
| Vested options (shares) | 39,789 vested options under 2017 Omnibus Incentive Plan . |
| Unvested options outstanding (shares) | 58,894 unexercisable options as of 12/31/2024 (50,000; 6,394; 2,500) . |
| Shares outstanding reference | 40,316,320 as of 2/28/2025 . |
| Ownership guidelines / pledging | Insider Trading Policy applies to officers; no explicit pledging/hedging disclosure identified in filings reviewed . |
Performance Compensation – Equity Awards Detail
| Grant Date | Type | Shares/Options | Strike ($) | Expiration | Vesting Schedule |
|---|---|---|---|---|---|
| 3/1/2024 | ISO | 19,180 options | 1.33 | 3/1/2034 | Vests in 3 equal tranches on 6/30/2024, 12/31/2024, 6/30/2025 . |
| 4/1/2024 | ISO | 50,000 options | 3.57 | 4/1/2034 | 12,500 annually on each anniversary of grant from 2025–2028 . |
| 9/1/2023 | Option | 5,000 options (exercisable) | 0.90 | 9/1/2033 | Fully vested status indicated . |
| 1/11/2022 | Option | 2,003 options (exercisable) | 4.26 | 1/11/2032 | Fully vested status indicated . |
| 10/18/2021 | Option | 7,500 exercisable; 2,500 unexercisable | 16.55 | 10/18/2031 | 2,500 vest on 10/18/2025 . |
Upcoming vesting/supply windows include 4/1/2025–2028 for the 50,000‑share grant, 6/30/2025 for 6,394 remaining on the 3/1/2024 grant, and 10/18/2025 for 2,500 from the 10/18/2021 grant .
Employment Terms
| Term | Detail |
|---|---|
| Offer letter | BeyondSpring U.S. offer letter dated 9/17/2021, amended effective 4/1/2024 upon promotion to CSO . |
| Employment type | At‑will; terminable by either party at any time for any reason . |
| Bonus eligibility | Annual bonus of up to 25% of base salary; subject to company performance and terms established by the Company . |
| Change‑in‑control treatment (restricted shares) | If terminated without cause within 12 months of change in control, unvested time‑based restricted shares fully vest; death/disability: next tranche vests; otherwise unvested forfeited; all unvested performance‑based restricted shares forfeited upon termination . |
| Change‑in‑control treatment (options) | If options assumed/substituted, termination without cause within 12 months → unvested options vest and are exercisable for 90 days; if not assumed/substituted, unvested options vest upon change of control; death/disability: next time‑based tranche vests; for cause: all options forfeited; other termination: vested options exercisable for 3 months; unvested performance‑based options forfeited upon termination . |
Governance and Say‑on‑Pay Context
- Compensation Committee: Matthew Kirkby (Chair) and Jiangwen Majeti; responsibilities include executive compensation plan oversight, advisor retention, and review of equity plans .
- 2025 AGM voting: Only auditor ratification was on the agenda; CBIZ CPAs P.C. ratified with 21,831,390 For, 14,265 Against, 6,610 Abstain; no say‑on‑pay resolution disclosed at the 2025 AGM .
Investment Implications
- Alignment and ownership: Beneficial ownership is <1%, with most of her exposure via options; this suggests limited direct equity alignment relative to total shares outstanding, typical of smaller reporting companies using option‑heavy compensation to conserve cash .
- Vesting cadence and potential selling pressure: Multiple upcoming vest tranches (April 1 annually through 2028; June 30, 2025; October 18, 2025) could create predictable windows for insider‑initiated liquidity subject to trading policy and blackouts; monitor Form 4 filings around these dates .
- Pay‑for‑performance mechanics: Annual incentive payouts are driven by committee‑determined corporate and individual rates atop a 25% bonus target; absence of disclosed quantitative performance metrics (TSR, revenue/EBITDA targets) reduces external visibility into pay‑for‑performance rigor .
- Change‑of‑control economics: Double‑trigger acceleration applies to time‑based restricted shares and options when assumed/substituted; single‑trigger vesting applies to options not assumed; exercise windows are short (90 days or 3 months), limiting extended monetization .