Lori Lyons-Williams
About Lori Lyons-Williams
Lori M. Lyons-Williams (age 48) is an independent director of Contineum Therapeutics (CTNM) serving since August 2020. She is President & CEO of Abdera Therapeutics and was previously President & COO of Neumora Therapeutics, Chief Commercial Officer at Dermira, and held senior commercial roles at Allergan, culminating as VP Sales & Marketing, Urology. Education: B.A. in Interdisciplinary Studies (Virginia Tech) and MBA in Marketing (University of Minnesota – Carlson School of Management). Core credentials: commercial leadership, biotech go-to-market, audit committee financial expertise.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Neumora Therapeutics, Inc. | President & COO | Apr 2021 – Apr 2022 | Executive leadership of biopharma operations |
| Dermira, Inc. | Chief Commercial Officer | Dec 2016 – May 2020 | Led strategic, financial, and operational leadership of product portfolio; company acquired |
| Allergan, Inc. | Various roles; VP Sales & Marketing, Urology (most recent) | Jan 2002 – Aug 2016 | Increasing responsibility across commercial functions |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Abdera Therapeutics Inc. | President & CEO; Director | Current | Executive leadership; board service |
| RAPT Therapeutics, Inc. (public) | Chair of the Board | Current | Board leadership |
| Five Prime Therapeutics, Inc. (acquired) | Director | Jun 2019 – Apr 2021 | Board member until acquisition |
Board Governance
- Independence: Board determined Ms. Lyons-Williams is independent under Nasdaq and SEC rules; only Stengone and Miralles are non‑independent.
- Committees: Audit Committee member; Nominating & Corporate Governance Committee member. Audit chaired by Ignelzi; Nominating chaired by Boyce.
- Financial expert: Board determined she qualifies as an Audit Committee Financial Expert and meets Nasdaq financial sophistication.
- Attendance & engagement: Board met 7 times in 2024; each director attended at least 75% of Board and committee meetings; Audit met 4x, Compensation 6x, Nominating 2x.
- Board leadership: Independent Chair (Schimmelpennink); independent directors meet in regular executive sessions.
Fixed Compensation
- Non‑Employee Director Cash Program (post‑IPO): Annual Board retainer $40,000; Board Chair +$30,000; Audit Chair +$15,000; Comp Chair +$10,000; Nominating Chair +$8,000; Audit member +$7,500; Comp member +$5,000; Nominating member +$4,000.
- 2024 actual cash fees (CTNM): $41,169.
| Component | Amount ($) | Notes |
|---|---|---|
| Board / Committee Fees (2024) | 41,169 | As reported in director compensation table |
Performance Compensation
- 2024 option awards (grant‑date fair value): $390,182. Equity awards for directors are time‑based stock options (no PSUs/RSUs or performance metrics).
- Equity design (program terms): Initial option = 0.090% of total shares outstanding; annual option = 0.045%; standard time‑based vesting; full vesting on change‑in‑control under the 2024 Plan.
| Metric | 2024 Value / Terms |
|---|---|
| Option Awards (Grant‑Date Fair Value) | $390,182 |
| Instrument | Stock options; time‑based vesting (no performance metrics) |
| Initial Award Policy | 0.090% of shares outstanding at grant |
| Annual Award Policy | 0.045% of shares outstanding at grant (post‑AGM) |
| Change‑in‑Control Treatment | Director options vest in full on CoC per 2024 Plan |
Other Directorships & Interlocks
- Current public company directorship: RAPT Therapeutics (Chair). No disclosed business dealings between CTNM and RAPT or Abdera; proxy’s related‑party section does not reference Ms. Lyons‑Williams.
Expertise & Qualifications
- Commercial and operating leadership across biopharma; CEO experience; audit financial expertise designation by CTNM.
- Education: B.A. (Virginia Tech); MBA (Carlson School).
Equity Ownership
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 40,130 shares; represents options exercisable within 60 days of Mar 14, 2025 |
| Ownership % of Class A | <1% (as reported) |
| Shares Outstanding (Class A) | 19,142,377 (record date Apr 28, 2025) |
| Director Options Outstanding (12/31/2024) | 58,978 options |
| Hedging/Pledging | Company policy prohibits hedging; pledging requires approval; short sales prohibited |
| Ownership Guidelines | Not disclosed for directors in proxy |
Governance Assessment
- Board effectiveness: Dual committee service (Audit; Nominating) with audit financial expert status supports oversight of reporting, controls, and board composition—positive for investor confidence.
- Independence & attendance: Independent status and ≥75% meeting attendance in 2024 indicate engagement; independent executive sessions further strengthen oversight.
- Incentive alignment: Director equity is option‑based and time‑vested, with CoC full vesting typical in early‑stage biotech; absence of performance‑linked director equity is standard practice but provides limited pay‑for‑performance signal at the board level.
- Conflicts / related‑party: No related‑party transactions involving Ms. Lyons‑Williams disclosed; broad related‑party policy assigns review/approval to Audit Committee, mitigating conflict risk.
RED FLAGS to monitor
- Multiple external commitments (CEO of Abdera; Chair at RAPT) can create time‑allocation risk; 2024 attendance was at least 75%, but continued monitoring of engagement is prudent.
- Full CoC vesting for director options is customary but can be viewed as a generous protection; ensure independence in evaluating potential strategic transactions.
Appendix: Committee Membership Snapshot (CTNM, as of 12/31/2024)
| Committee | Members | Chair |
|---|---|---|
| Audit | Brady; Ignelzi; Lyons‑Williams | Ignelzi |
| Compensation | Schimmelpennink; Brady; Ware | Brady |
| Nominating & Corporate Governance | Boyce; Lyons‑Williams; Ware | Boyce |
Appendix: 2024 Director Compensation (CTNM)
| Director | Fees Earned ($) | Option Awards ($) | Total ($) |
|---|---|---|---|
| Lori M. Lyons‑Williams | 41,169 | 390,182 | 431,351 |
Related Policies and Signals
- Compensation consultant: Alpine Rewards retained Sep 2024; Compensation Committee assessed independence and no conflicts.
- Clawback policy: Adopted at IPO (Apr 2024) for executive officers’ incentive‑based pay tied to restatements; not applicable to directors.