Charles Schoch
About Charles Schoch
Charles Schoch is Chief Financial Officer of Candel Therapeutics (effective June 20, 2025), after serving as interim CFO since January 12, 2024; age 40 as of April 29, 2025; he holds an M.B.A. and M.S.A. from Northeastern University and a B.S. in Business Administration (Finance) from Elon University, and is a CPA in Massachusetts . He led investor engagement that culminated in a capital raise with net proceeds of approximately $86 million following positive Phase 3 results in December 2024; he is also cited for advancing BLA preparation for CAN-2409 and building a high-performing finance function . As principal financial and accounting officer, he certifies the company’s SEC filings and disclosure controls; management concluded disclosure controls were effective as of September 30, 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Candel Therapeutics | Chief Financial Officer (permanent) | Jun 2025–Present | Elevated from interim CFO; compensation reset and new option grant to align retention and performance . |
| Candel Therapeutics | Interim Chief Financial Officer, Treasurer & Secretary | Jan 2024–Jun 2025 | Led investor outreach and capital raise (~$86M net) post Phase 3 data; strengthened finance/investor relations functions . |
| Candel Therapeutics | VP Finance & Corporate Controller | Mar 2023–Jan 2024 | Oversaw controllership and FP&A functions . |
| Candel Therapeutics | Corporate Controller | Nov 2021–Mar 2023 | Financial reporting and internal controls . |
| Corbus Pharmaceuticals | Corporate Controller | Sep 2020–Nov 2021 | Public-company controllership in biotech . |
| PricewaterhouseCoopers (Health Industry Assurance) | Senior roles in assurance | Sep 2013–Aug 2020 | Audited life sciences clients from pre-IPO to multinational . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No current public-company board roles disclosed for Mr. Schoch . |
Fixed Compensation
| Component | Value | Period/Effective Date | Notes |
|---|---|---|---|
| Base Salary | $440,000 | Effective Jun 20, 2025 | Upon appointment as permanent CFO . |
| Target Annual Bonus | 40% of base salary | Effective Jun 20, 2025 | Company bonuses generally based on corporate and individual goals . |
| Base Salary (interim CFO) | $325,000 | Effective Jan 12, 2024 (until interim role ended) | Interim CFO pay level . |
| Benefits Eligibility | Standard company plans | Ongoing | Eligible to participate in employee benefit plans . |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting/Terms |
|---|---|---|---|---|---|
| Stock Options (50,000 shares) | Time-based (no performance condition) | — | — | — | Grant on Jun 20, 2025 at FMV; 25% vests on one-year anniversary (Jun 20, 2026), remaining 75% vests in equal monthly installments over 36 months thereafter, subject to continued employment . |
| Annual Cash Bonus (CFO plan) | Corporate and individual goals | Not disclosed | 40% of base salary | Not disclosed (2025 cycle) | Follows company bonus framework; specifics for Schoch not disclosed . |
| Company 2024 Corporate Goal Score (context) | Corporate goals | — | 100% | 105% achievement for 2024 (applied to NEOs) | Indicates strong 2024 payout factor for named executives; Schoch not an NEO in 2024 . |
Equity Ownership & Alignment
| Item | Detail | As of | Notes |
|---|---|---|---|
| Beneficial Ownership (shares) | 87,920 | Apr 21, 2025 | “Less than one percent” of outstanding shares . |
| Shares Outstanding (reference) | 49,269,668 | Apr 21, 2025 | Basis for beneficial ownership percentages . |
| Ownership Guidelines | No formal executive ownership guidelines | Proxy 2025 | Company states no formal ownership guidelines for executives . |
| Hedging/Pledging/Hypothecation | Insider trading policy expressly prohibits short sales, derivatives and hedging; policy highlights risks of pledging/margin | Proxy 2025 | Policy prohibits hedging and derivatives; discussion notes risks of pledging or margin but does not explicitly state a pledging ban in the excerpt provided . |
| Rule 10b5-1 Plans | Permitted under policy | Proxy 2025 | Executives may use 10b5-1 trading plans . |
| Clawback Policy | Implemented (SEC/Nasdaq compliant) | Proxy 2025 | Recovers incentive comp tied to financial reporting measures upon restatement (3-year lookback) . |
Vesting overhang and potential selling pressure: The 50,000-option grant has a one-year cliff on Jun 20, 2026 with monthly vesting thereafter; monitor for any Form 4 filings/10b5-1 plans around these dates. The grant size is de minimis versus ~49.27M shares outstanding .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment | Appointed permanent CFO effective Jun 20, 2025; previously interim CFO from Jan 12, 2024 | |
| Pay Terms at Appointment | $440,000 base salary; 40% target bonus; stock option for 50,000 shares at FMV; time-based vesting (25% at 1 year, remainder monthly over 36 months) | |
| Benefits | Eligible for standard employee benefit plans | |
| Severance/Change-in-Control | Not disclosed for Mr. Schoch in appointment 8-K or 2025 proxy excerpts reviewed | |
| Policies | Clawback policy in place; hedging/derivatives prohibited; 10b5-1 plans permitted |
Context (other executives’ agreements): Company discloses NEO employment agreements (e.g., Dr. Barone and Dr. Tyagarajan) with severance equal to nine months’ base salary plus target bonus, COBRA subsidy, and double-trigger full acceleration of time-based equity within one month before/12 months after a change in control; CEO terms include higher multiples and broader equity acceleration—Mr. Schoch’s specific severance/CIC terms are not disclosed .
Investment Implications
- Alignment and retention: Cash pay reset to market (base $440k, 40% target bonus) and a multi-year, time-based option grant create retention hooks into mid-2029; absence of performance-based equity for the new grant reduces pay-for-performance sensitivity but increases retention certainty .
- Selling pressure watchpoints: A 25% cliff on Jun 20, 2026 followed by monthly vesting can create periodic liquidity events; track any 10b5-1 plan adoption and Form 4 activity around these dates; however, 50,000 options are immaterial versus ~49.27M shares outstanding .
- Governance and risk controls: Clawback policy is in place and hedging/derivative transactions are prohibited, reducing misalignment risks; lack of executive ownership guidelines leaves discretion on “skin in the game,” and Mr. Schoch’s beneficial ownership is <1% .
- Execution track record: Elevated to CFO after leading an ~$86M net capital raise post-Phase 3 data and supporting BLA preparation—positive signals for capital markets access and operational readiness heading into potential commercialization milestones .
Sources
- 2025 Proxy (DEF 14A): executive officers, ownership table, compensation framework, policies .
- 8-K (Jan 12, 2024): interim CFO appointment and base salary .
- 8-K (Jun 23, 2025): permanent CFO appointment; base/bonus; 50,000-option grant and vesting; press release with capital raise and BLA preparation highlights .
- 10-Q (Q3 2025): CFO certifications and controls conclusion .