Daniel Burgess
Cidara TherapeuticsAbout Daniel Burgess
Daniel Burgess (63) is an independent director and Chairman of the Board at Cidara Therapeutics (CDTX), serving since April 2014. He is Chair of the Audit Committee, a member of the Nominating & Governance Committee, and is designated an “audit committee financial expert.” He holds a B.A. in economics from Stanford University and an M.B.A. from Harvard Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rempex Pharmaceuticals, Inc. | Co‑founder; President & CEO | Jun 2011–Dec 2013 | Company acquired by The Medicines Company (now Novartis subsidiary) |
| Mpex Pharmaceuticals, Inc. | President & CEO | May 2007–Apr 2011 | Company acquired by Aptalis Pharma (now part of AbbVie) |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pulmocide Ltd. (private) | Chairman & CEO | Since May 2021 | Executive leadership |
| Tripex Pharmaceuticals LLC (private) | President & CEO | Since Dec 2014 | Executive leadership |
| SV Health Investors | Venture Partner | Since Jun 2014 | Investment oversight |
| Therini Bio, Inc. | Part‑time President & CEO (then Director) | May 2019–Dec 2021; now Board member | Continuity in governance |
| CARB‑X | Chairman, Joint Oversight Board | Ongoing | Global antibacterial product acceleration |
| Life Science Cares San Diego | Board of Advisors | Ongoing | Community engagement |
| Biocom (California life sciences) | Board Member | Ongoing | Industry governance |
| Nabriva Therapeutics plc (public) | Chairman (prior) | Jun 2017–Jan 2025 | Exited board Jan 2025 |
| Arbutus Biopharma Corporation (public) | Director (prior) | Mar 2017–Feb 2025 | Exited board Feb 2025 |
Board Governance
- Independence: Board determined Burgess is independent under Nasdaq rules; CEO Jeffrey Stein is the only non‑independent director .
- Board leadership: Burgess is the independent Chairman; roles are separated from the CEO to reinforce oversight .
- Committee memberships (2024): Audit (Chair), Nominating & Governance (member). Committee meetings held in 2024: Audit 8; Compensation & Human Capital 4; Nominating & Governance 2 .
- Attendance: Board met six times in 2024; all directors attended at least 75% of Board and committee meetings. Independent directors held five executive sessions in 2024 .
Fixed Compensation
| Component | Policy Rate (effective pre‑Dec 2024) | 2024 Amount (Burgess) |
|---|---|---|
| Board Chair annual cash retainer | $70,000 (unchanged) | $92,000 total cash fees |
| Audit Committee Chair cash retainer | $18,000 (changed to $20,000 in Dec 2024) | — (included in total) |
| Nominating & Governance Committee member retainer | $4,000 (changed to $5,000 in Dec 2024) | — (included in total) |
Notes:
- The Company amended the Director Compensation Policy in Dec 2024: Audit/Nominating/Comp committee member retainers became $10,000/$5,000/$7,500 (from $9,000/$4,000/$7,500); Chair retainers became $20,000/$10,000/$15,000 for Audit/Nominating/Comp (from $18,000/$8,000/$15,000) .
Performance Compensation
| Award/Term | Burgess Detail | Vesting | Valuation/Terms |
|---|---|---|---|
| Option awards (aggregate 2024) | $359,511 grant‑date fair value | As granted in 2024 | ASC 718 FV; see 2024 Director Compensation table |
| One‑time additional option (Dec 2024) | 20,500 options | Vests over 3 years in equal monthly increments | As disclosed for selected directors |
| Options held (as of Dec 31, 2024) | 30,450 options | Various schedules per grants | Aggregate options outstanding |
| Annual option grant policy (post‑Dec 2024) | 11,100 options per year to each non‑employee director on meeting date | Vests in one installment by earlier of 1‑year anniversary or day before next annual meeting; accelerates on change of control | Policy terms |
| Initial appointment option policy (post‑Dec 2024) | 22,200 options on initial appointment | 1/3 at first anniversary; remainder monthly over next 2 years; accelerates on change of control | Policy terms |
Plan governance features:
- No option/SAR repricing without shareholder approval; fixed‑share plan (no evergreen); clawback applies; detailed CIC acceleration if awards not assumed .
Other Directorships & Interlocks
| Company | Role | Public/Private | Tenure/Notes |
|---|---|---|---|
| Nabriva Therapeutics plc | Chairman | Public (formerly) | Jun 2017–Jan 2025; departed Jan 2025 |
| Arbutus Biopharma Corporation | Director | Public | Mar 2017–Feb 2025; departed Feb 2025 |
| RA Capital participation (CDTX financing) | Investor in 2024 private placements | External investor | RA Capital purchased preferred/common/pre‑funded warrants; RA Capital affiliate has a director (Josh Resnick) on CDTX board |
- Related‑party review: CDTX maintains a formal related‑person transactions policy overseen by the Audit Committee; disclosures since Jan 1, 2023 list executive employment/separation arrangements, with no related‑party transactions involving Burgess disclosed .
Expertise & Qualifications
- Designated Audit Committee Financial Expert by the Board (education and financial roles support designation) .
- Extensive CEO experience in anti‑infectives and biopharma; venture capital and governance roles across private/public entities .
Equity Ownership
| Holder/Type | Shares | % of Common | Notes |
|---|---|---|---|
| Daniel Burgess – total beneficial ownership | 13,067 | <1% | As of Apr 21, 2025 |
| Of which: options exercisable within 60 days | 12,917 | — | Options exercisable (component of beneficial) |
| Of which: spouse holdings | 150 | — | Included in beneficial total |
| Pledging/hedging | Prohibited | — | Company policy bans pledging, short sales, and hedging for directors |
Governance Assessment
- Strengths: Independent Chairman separate from CEO; Burgess chairs Audit and is a designated financial expert; robust committee activity (Audit met 8x in 2024); attendance thresholds met; independent director executive sessions held; clawback and no‑repricing plan features; hedging/pledging prohibited—positive alignment and risk oversight .
- Alignment: Director pay moderately equity‑heavy—annual options plus a one‑time 2024 option grant; beneficial ownership includes exercisable options; policy accelerates vesting upon change of control if awards not assumed (standard in life sciences) .
- Potential watch‑items (not flagged by CDTX disclosures): Multiple external leadership roles (Pulmocide, Tripex, venture partner) necessitate continued monitoring of time commitments; no CDTX‑disclosed related‑party transactions involving Burgess, and Board confirms independence .
Appendix: Director Compensation Policy Reference
- Non‑employee director cash retainers: Board Chair $70,000; committee member Audit/Comp/NomGov $10,000/$7,500/$5,000; committee chair Audit/Comp/NomGov $20,000/$15,000/$10,000 (chair retainer in lieu of member retainer) .
- Equity: Annual option grant 11,100 shares at each annual meeting; initial appointment option grant 22,200 shares; vesting terms and CIC acceleration as above .