Alex Levit
Context TherapeuticsAbout Alex Levit
Chief Legal Officer and Corporate Secretary of Context Therapeutics (CNTX); joined in April 2021. Age 46 as of the 2025 proxy. Previously VP, Deputy General Counsel and Assistant Corporate Secretary (and earlier Associate General Counsel and Assistant Secretary) at OptiNose; Associate General Counsel at Teva Pharmaceuticals (2010–2017); corporate and life sciences attorney at Reed Smith LLP. Board member at Strados Labs. JD (Temple University Beasley School of Law); BA in Labor & Industrial Relations (Penn State, Schreyer Honors College) .
Performance context during his tenure: CNTX initiated its first CTIM-76 Phase 1 trial (first patient dosed January 2025), and is advancing CT-95 (Phase 1) and CT-202 (preclinical); cash and equivalents were $76.9M as of Sept 30, 2025; Q3 2025 net loss was $9.7M vs $17.5M in Q3 2024; the 2025 proxy also sought shareholder approval for a reverse stock split to address Nasdaq minimum bid price noncompliance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OptiNose | VP, Deputy General Counsel & Assistant Corporate Secretary; Associate General Counsel & Assistant Secretary | — | Negotiated in-/out-licenses, collaborations, M&A, supply agreements; handled public and private financings |
| Teva Pharmaceuticals | Associate General Counsel | 2010–2017 | Negotiated licenses, collaborations, M&A, supply agreements |
| Reed Smith LLP | Corporate and life sciences attorney | — | Legal counsel to life sciences clients |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Strados Labs (medical device company) | Board member | — | External board experience in med-tech ecosystem |
Fixed Compensation
| Component | 2023 | 2024 | 2025 (current terms) |
|---|---|---|---|
| Base Salary ($) | $369,963 | $381,062 | $400,000 (effective Feb 17, 2025) |
| Target Annual Bonus (% of base) | 40% | 40% | 40% |
Performance Compensation
| Metric/Plan | Weighting | Target | Actual Payout | Payout Detail | Vesting/Timing |
|---|---|---|---|---|---|
| Company-wide goals (clinical development, financial, business development, other corporate objectives) | Not disclosed | 40% of base salary | 98% of target | $149,922 total 2024 bonus (comprised of $143,803 non-equity incentive + $6,119 discretionary bonus) | Paid in Q1 2025 |
Equity Ownership & Alignment
| Ownership Detail | Amount |
|---|---|
| Total beneficial ownership (shares) | 324,609 (includes direct, spouse, and options exercisable within 60 days) |
| Ownership as % of shares outstanding | <1% (out of 89,704,194 shares outstanding as of Mar 1, 2025) |
| Direct shares | 9,000 |
| Spouse’s shares | 52,983 |
| Options exercisable within 60 days | 262,626 |
Outstanding option awards at 12/31/2024:
| Grant Date | Exercisable (#) | Unexercised/Unearned (#) | Exercise Price ($) | Expiration | Vesting Terms (summary) |
|---|---|---|---|---|---|
| 5/2/2020 | 833 | — | 5.70 | 5/2/2030 | Prior plan grant; time-based |
| 4/30/2021 | 52,754 | — | 4.94 | 4/30/2031 | 36 equal monthly installments from grant date |
| 2/25/2022 | 76,408 | 31,462 | 1.79 | 2/24/2032 | 25% on 2/25/2023; remainder monthly over 3 years |
| 2/13/2023 | 69,440 | 82,065 | 0.84 | 2/12/2033 | 25% on 2/13/2024; remainder monthly over 3 years |
| 3/21/2024 | — | 153,515 | 1.07 | 3/20/2034 | 25% on 3/21/2025; remainder monthly over 3 years |
Notes: All listed awards granted under Context Therapeutics Inc. 2021 Long-Term Performance Incentive Plan unless otherwise indicated; time-based vesting; potential acceleration on certain terminations (see Employment Terms) .
Employment Terms
| Topic | Terms |
|---|---|
| Employment status | At-will |
| Base/bonus eligibility | Base most recently increased to $400,000 effective Feb 17, 2025; target annual bonus 40% of base; discretionary determination by Board based on individual and company performance |
| Severance (without cause or for good reason) | 9 months base salary continuation; up to 12 months medical/vision/dental benefits; immediate vesting of any unvested options or incentive equity awards scheduled to vest within 12 months after termination |
| Change-in-Control (CIC) provisions (termination within 12 months post-CIC) | Double-trigger: 100% of annual base salary (paid over 12 months); 100% of target bonus (paid over 12 months); up to 12 months benefits; full acceleration of all then-outstanding equity awards |
| Clawback/ownership guidelines | Compensation Committee has authority to consider adoption and oversee any stock ownership guidelines, share retention, or clawback policies (specific policy terms not disclosed) |
| Non-compete / non-solicit | Not disclosed in proxy |
Compensation and Pay Mix (Disclosure Summary)
| Year | Salary ($) | Discretionary Bonus ($) | Option Awards ($) | Non-Equity Incentive Plan ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2023 | $369,963 | — | $98,317 | $103,968 | $9,900 | $582,148 |
| 2024 | $381,062 | $6,119 | $129,319 | $143,803 | $10,350 | $670,653 |
2024 variable cash payout equaled 98% of target, reflecting 94% achievement against company goals plus a 4% discretionary component; bonuses paid in Q1 2025 .
Governance and Committee Context (for incentive-setting)
- Compensation Committee members: Andy Pasternak; Karen Smith (Chair from Jan 2025); Linda West. The Committee engaged Cannae HR Solutions in 2024 as independent consultant to provide market data, peer group analysis, and compensation assessments .
- 2025 Annual Meeting ballot: Auditor ratification and reverse stock split proposal; no say‑on‑pay proposal listed .
Performance & Risk Context (Company-level, during tenure)
- Pipeline progress: CTIM-76 Phase 1 underway with early signs of antitumor activity and no ≥Grade 2 CRS; CT-95 Phase 1 dose escalation ongoing; CT-202 preclinical, first-in-human targeted for 2026 .
- Financials: Cash/equivalents $76.9M (Sep 30, 2025); Q3 2025 net loss $9.7M; company expects runway into 2027 .
- Listing risk: Received Nasdaq minimum bid price deficiency notice; board sought authority for a 1-for-5 to 1-for-50 reverse split to facilitate compliance .
Investment Implications
- Alignment: Levit’s pay includes a meaningful option component with multi-year, monthly time-based vesting across 2022–2024 grants—supporting retention but offering limited direct performance linkage beyond cash bonus plans tied to company milestones .
- Retention/CIC risk: Non-CEO severance provides 9 months salary and partial (12-month look-forward) vesting acceleration; double-trigger CIC terms include full equity acceleration and one year of salary and target bonus—standard for small-cap biotech, but could increase turnover incentives upon a sale .
- Ownership: Beneficial ownership is <1% (324,609 shares including options within 60 days and spouse holdings), implying modest personal economic exposure; no pledging disclosed in the proxy; no related party transactions since Jan 1, 2023 .
- Selling pressure timing: Ongoing monthly vesting from 2022, 2023, and 2024 option grants, with 25% annual cliffs followed by monthly vesting, creates recurring potential windows for liquidity events (subject to trading windows and insider policy) .
- Company risk/return: Operational momentum in TCE pipeline and cash runway into 2027 are positives, while Nasdaq bid price deficiency and need for reverse split underscore equity volatility and financing risk typical of early-stage biotech .