Ali Satvat

About Ali J. Satvat

Ali J. Satvat, age 47, has served as an independent director of Coherus since May 2014; he is a KKR Partner, Co‑Head of Health Care (Americas Private Equity), and Global Head of KKR Health Care Strategic Growth, with prior investing roles at Apax Partners and earlier positions at Johnson & Johnson Development Corporation, Audax Group, and The Blackstone Group . He holds an A.B. from Harvard College and an M.B.A. in Health Care Management and Entrepreneurial Management from Wharton, and is nominated to continue as a Class II director through 2028 . The Board has determined he is independent under Nasdaq rules (and Audit Committee heightened independence) .

Past Roles

External Roles

Board Governance

• Committees and roles: Audit Committee member (current; expected composition post‑2025 AGM: Wahlström, Satvat, Karachun as Chair, and Erbez) . Nominating & Corporate Governance Committee Chair (current; expected to continue as Chair post‑2025 AGM with Wahlström and O’Donnell‑Tormey) .
• Independence: Board determined all directors except CEO are independent; Audit Committee members (including Satvat) meet heightened independence standards .
• Attendance: In 2024, the Board met six times; Audit met four times; Compensation met six times; Nominating did not meet; each director attended at least 75% of meetings of the Board and committees on which they served .
• Lead Independent Director and executive sessions: Wahlström serves as Lead Independent Director; independent directors meet in regularly scheduled executive sessions .

Fixed Compensation

• Director compensation policy: Annual cash retainer $50,000; Audit Committee Chair $20,000/member $10,000; Nominating & Corporate Governance Chair $10,000/member $5,000; Lead Independent Director retainer increased to $40,000 in Apr 2024; Compensation Committee Chair increased to $20,000/member $10,000; Strategic Transaction Committee Chair $25,000/member $12,500 (added Apr 2024) .

Performance Compensation

Other Directorships & Interlocks

• KKR affiliation: Satvat is a KKR Partner and investment committee member; beneficial ownership is attributed through KKR Biosimilar L.P.; he disclaims beneficial ownership except to the extent of his pecuniary interest .
• Related party transactions: The company reports no related‑party transactions meeting Item 404 thresholds since January 1, 2023 .

Expertise & Qualifications

• Sector expertise: Extensive healthcare private equity and board experience (BridgeBio, PRA Health, Eidos, Impel) .
• Education: A.B. (Harvard); M.B.A. in Health Care Management and Entrepreneurial Management (Wharton) .
• Committee qualifications: Audit Committee members (including Satvat) meet financial literacy requirements and heightened independence standards .

Equity Ownership

Governance Assessment

• Positive indicators:
  • Independence and committee oversight: Board determined independent status; Audit Committee heightened independence; Satvat chairs Nominating & Corporate Governance .
  • No related party transactions reported since 1/1/2023 (mitigates conflict risk) .
  • Anti‑hedging and anti‑pledging policies apply to directors (alignment with shareholders; prohibits margin accounts) .
  • Clawback policy adopted effective December 1, 2023 for incentive‑based compensation (restatement recovery framework) .
  • Compensation Committee uses independent consultant (Aon), assessed free of conflicts .
• Watch items / potential red flags:
  • Significant ownership linkage via KKR Biosimilar L.P. (3,036,576 shares) could present perceived conflicts despite disclosed independence; Satvat disclaims beneficial ownership except pecuniary interest .
  • 2025 director election support was notably lower for Satvat versus other nominees (For: 27,759,763; Withheld: 11,168,208 vs. >32.7M For for other nominees), indicating potential shareholder scrutiny .
  • Say‑on‑pay support in 2024 was 68.8% of votes cast, below typical strong approvals, signaling broader investor concerns about compensation practices (context for governance sentiment) .
  • Nominating & Corporate Governance Committee did not meet in 2024 (Board met 6x; other committees met), which may draw questions on board refresh/oversight cadence, though activity can occur outside formal meetings .

Director Compensation Structure Notes

Shareholder Voting Signals (context)

Overall, Satvat brings deep healthcare investing and board experience and serves in key governance roles (Audit; Nominating Chair) with independent status and strong compliance policies in place; investors should monitor KKR‑related ownership optics and relatively lower 2025 election support as potential signals regarding perceived independence or strategic alignment .