David Quigley
About David Quigley
David Quigley, age 58, was appointed as a non-employee director of CervoMed (CRVO) on October 27, 2025; he is a 25+ year veteran of McKinsey & Company where he served as Senior Partner (2010–2025) and held leadership roles including Global Head of Private Capital (Private Equity), North America Head of Life Sciences, and Global Lead of Life Sciences Commercial. He holds a B.A. (University College Dublin), an M.Sc. (Queen’s University Belfast), and an M.B.A. (INSEAD). The Board expanded from seven to eight members upon his election; Quigley entered into the company’s standard director indemnification agreement and will receive standard non‑employee director compensation on a pro‑rated basis . He currently does not serve on any Board standing committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| McKinsey & Company | Senior Partner; Global Head of Private Capital; North America Head of Life Sciences; Global Lead of Life Sciences Commercial | 2010–2025 | Led private equity and life sciences practices; commercial leadership in life sciences |
| Columbia University (Mailman School of Public Health) | Guest Lecturer (Life Sciences) | 2010–2017 | Academic engagement in life sciences |
External Roles
- No current public company directorships disclosed in CRVO filings .
Board Governance
- Committee assignments: Quigley was appointed as a director but not to any standing committee (Audit, Compensation, Nominating & Corporate Governance) .
- Current committee leaders (context for Board effectiveness):
- Audit: Chair Jeff Poulton; members Jane H. Hollingsworth, Frank Zavrl .
- Compensation: Chair Frank Zavrl; members Jane H. Hollingsworth, Jeff Poulton .
- Nominating & Corporate Governance: Chair Jane H. Hollingsworth; members Marwan Sabbagh, Frank Zavrl .
- Executive sessions: Independent directors meet in executive session at regular Board meetings .
- Independence/relationships: No arrangements or family relationships with directors or officers were disclosed in connection with Quigley’s appointment; independence determination was not specifically stated in the 8‑K .
- Attendance: The 2024 Board held 10 meetings and directors met the 75% attendance threshold; Quigley joined in 2025 (so 2024 attendance data is contextual) .
Fixed Compensation
| Element | Annual Amount | Notes |
|---|---|---|
| Board Member Retainer (cash) | $40,000 | Paid in installments; Quigley to receive on a pro‑rated basis |
| Chair of the Board Retainer | $25,000 | Not applicable to Quigley |
| Audit Committee Chair | $15,000 | Not applicable to Quigley |
| Compensation Committee Chair | $10,000 | Not applicable to Quigley |
| Nominating & Corporate Governance Chair | $8,000 | Not applicable to Quigley |
| Audit Committee Member (non‑chair) | $7,500 | Not applicable to Quigley |
| Compensation Committee Member (non‑chair) | $5,000 | Not applicable to Quigley |
| Nominating & Corporate Governance Member (non‑chair) | $4,000 | Not applicable to Quigley |
Performance Compensation
| Award Type | Grant Date | Shares/Units | Exercise Price | Vesting/Performance | Notes |
|---|---|---|---|---|---|
| Stock Option (Initial Appointment) | Oct 27, 2025 | 16,200 | $7.02 per share | Vests in 36 equal monthly installments starting Oct 31, 2025 (service‑based; no performance metrics) | Subject to 2025 Equity Incentive Plan and standard option agreement |
| Annual Director Option Grant (Program Design) | Annual | Shares equal to 0.088% of shares outstanding at grant | FMV on grant date | Vests in 12 monthly installments (service‑based) | Initial appointment grant typically 0.176% of shares outstanding (service‑based) |
| Option Term (Plan Constraint) | — | — | — | Options may not remain exercisable beyond 10 years from grant | Applies to grants under the plan |
Performance metrics for director awards: None disclosed; equity awards are service‑based time vesting (not tied to TSR/EBITDA/ESG metrics) .
Other Directorships & Interlocks
- None disclosed; no related-party arrangements pursuant to his appointment were noted .
Expertise & Qualifications
- Strategic and commercial leadership in biopharma and private equity (led McKinsey’s Life Sciences Commercial and Private Capital practices) .
- Deep transaction and partnering experience relevant to Phase 3 planning and commercialization pathways .
Equity Ownership
| Item | Detail |
|---|---|
| Initial Option Grant | 16,200 shares, $7.02 strike; monthly service‑based vesting over 36 months |
| Beneficial Ownership | Not disclosed yet in proxy tables as of the April 24, 2025 record date; appointment occurred Oct 27, 2025 |
| Hedging/Pledging | Company policy prohibits hedging transactions by directors; pledging not specified in the cited policy |
| Clawback | Awards under the 2025 Equity Incentive Plan are subject to forfeiture/clawback aligned with the company’s Clawback Policy |
Governance Assessment
-
Signals supporting investor confidence:
- Independent, non‑employee director with strong life sciences strategy and commercial experience; adds breadth as CRVO moves into Phase 3 planning .
- Director compensation uses at‑risk equity (stock options) with service‑based vesting, aligning incentives with long‑term value creation .
- Plan governance features: no repricing without stockholder approval; fixed share authorization; clawback; director award caps; independent committee administration .
-
Watch items / potential conflicts:
- McKinsey/private capital network breadth may entail external relationships; no related‑party transactions or arrangements were disclosed with Quigley’s appointment, and no family relationships noted .
- No committee assignment at appointment reduces immediate influence on Audit/Comp/NCG processes; monitor future committee placements and attendance .
-
Policy safeguards:
- Hedging prohibition for directors reduces misalignment risk .
- Change‑in‑control and award limitations under the 2025 Plan reduce the risk of shareholder‑unfriendly award modifications .
RED FLAGS
- None disclosed specific to Quigley: no related‑party transactions, no family relationships, no special payments beyond standard director program .
Notes
- All figures and terms cited directly from CervoMed filings: 8‑K appointment and press release (Oct 2025) , 2025 DEF 14A for director program and governance , and 2025 beneficial ownership table context .