Corinne Savill
About Corinne Savill
Corinne Savill, Ph.D., age 65, has served as Chief Business Officer of Cullinan Therapeutics since February 2017, bringing extensive global business development, pricing/market access, and search/evaluation leadership from Novartis Pharma and prior CEO experience at Imutran, with earlier research roles at AstraZeneca . Education: B.S. in Biochemistry (University of Manchester) and Ph.D. (University College & Middlesex School of Medicine and the Charing Cross Sunley Research Centre, London) . Company-level TSR/revenue/EBITDA performance metrics tied specifically to Savill are not disclosed in the proxies reviewed .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Novartis Pharma AG | Global Head, Business Development & Licensing | 2013–2017 | Led global BD&L; transactions evaluation and execution |
| Novartis Pharma AG | Global Head, Pricing & Market Access | 2010–2013 | Global P&MA strategy; market access leadership |
| Novartis Pharma AG | Global Head Search & Evaluation, BD&L | 2005–2010 | Sourced and evaluated external opportunities |
| Novartis Pharma AG | Regional Manager Europe, Transplantation & Immunology BU | 2002–2005 | Regional commercial/operational leadership |
| Imutran Ltd. | Chief Executive Officer | Not disclosed | Led UK biotech acquired by Novartis Pharma |
| AstraZeneca plc | Research roles | Not disclosed | Early-stage R&D experience |
External Roles
No external public company board roles for Savill are disclosed in company proxy biographies reviewed (2022–2025) .
Fixed Compensation
| Year | Compensation vehicle | Base (USD) | Target bonus % | Actual bonus paid |
|---|---|---|---|---|
| 2021 | Services Agreement (consulting) | $380,000 | 40% | Not disclosed |
| 2022 | Services Agreement (consulting) | $391,400 | 40% | Not disclosed |
Effective Jan 12, 2021, the Services Agreement compensated Savill with the stated annual consulting fee and 40% bonus eligibility, subject to board approval; term expires on the last date she provides services to the company .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed for Savill | — | — | — | — | — |
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Beneficial ownership | Not enumerated for Savill in principal stockholder tables excerpted; broader tables list directors/NEOs but do not provide Savill’s totals in reviewed chunks |
| Insider transactions | Form 4 filed July 21, 2022 reporting sale of 5,042 shares on July 18, 2022 (demonstrates some liquidity) |
| Hedging/derivatives | Insider trading policy expressly prohibits derivative transactions and purchases of derivative securities providing economic equivalent of ownership |
| Pledging/margin | Policy describes risks of margin or pledged stock potentially being sold without consent; explicit prohibition of pledging is not stated in the excerpt reviewed |
| Ownership guidelines | No executive ownership guideline compliance details for Savill disclosed in reviewed proxy sections |
Employment Terms
| Element | Terms |
|---|---|
| Agreement type | Services Agreement with Cullinan (consulting) |
| Effective date | January 12, 2021 |
| Base compensation | $380,000 (2021); increased to $391,400 for 2022 |
| Bonus eligibility | 40% annual performance bonus, subject to board approval |
| Term | Expires on last date Savill provides services to the company |
| Severance | Not disclosed for Savill |
| Change-of-control | Not disclosed for Savill; company discloses CIC terms for other NEOs (e.g., Ahmed, Fenton) but not for Savill in reviewed materials |
| Indemnification | Company has entered into indemnification agreements with directors and executive officers |
Compensation Committee Analysis
- The compensation committee engages Compensia as independent consultant (since Nov 2022) for program design, peer group, and market pay data; independence assessed with no conflicts found .
- Executive compensation program emphasizes base salary plus equity under the 2021 Stock Plan; options priced at market on grant date; multi-year vesting to promote retention .
Risk Indicators & Red Flags
- Delinquent Section 16(a) report notes Savill’s Form 4 was filed late (reported on July 21, 2022 for a July 18, 2022 sale), indicating minor compliance slippage but not a material proceeding .
- Company insider trading policy prohibits derivative transactions; policy highlights risk of margin/pledging but does not state a prohibition in the excerpt reviewed .
- No disclosed related-party transactions involving Savill beyond her consulting agreement, which is explicitly disclosed .
Past Compensation Program Context (Company-Level)
- Equity compensation plans as of Dec 31, 2024: 11,633,371 securities to be issued upon exercise of outstanding awards; weighted-average exercise price $16.35; 3,604,676 shares remaining available; annual evergreen increases to the 2021 Stock Plan and ESPP in 2025 .
Investment Implications
- Alignment: Savill’s compensation is structured via a consulting Services Agreement with fixed annual fees and a 40% performance bonus subject to board approval, suggesting a significant guaranteed component and at-risk pay tied to qualitative/board-determined outcomes rather than disclosed hard operational metrics; lack of disclosed individual equity grants or ownership totals limits assessment of “skin-in-the-game” alignment .
- Retention risk: Multi-year tenure (since 2017) and ongoing Services Agreement indicate stability; however, absence of disclosed severance/CIC protections for Savill suggests less formalized retention economics compared to NEOs, which could reduce golden handcuff effects in a strategic transaction .
- Trading signals: The 2022 sale of 5,042 shares is modest and isolated; with derivative transactions prohibited and unclear pledging policy enforcement, insider selling pressure appears limited based on available disclosures .
- Governance: Use of an independent compensation consultant (Compensia) and standard indemnification agreements support baseline governance quality, though pay-for-performance transparency for non-NEOs like Savill is limited in public filings, constraining quantitative benchmarking .