Pharis Mohideen
Chief Medical Officer at DBVT
Executive
About Pharis Mohideen
Dr. Pharis Mohideen is DBV Technologies’ Chief Medical Officer (CMO) since July 2019; age 60 as of April 25, 2025. He holds an M.D., M.S. in human physiology, and B.A. in biology from the University of Hawaii, and an M.S. in clinical investigation from Vanderbilt University . DBV’s pay-vs-performance disclosure shows three-year TSR decline ($95.63 → $59.55 → $19.31 per $100 invested in 2022–2024) and net losses widening in 2024, framing a challenging environment for pay-for-performance alignment . Company revenues rose in 2023 but fell in 2024; EBITDA was negative in 2022–2023, underscoring continued cash burn typical of clinical-stage biotech * .
Company performance metrics (context for CMO role)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $4.844M | $15.728M | $4.151M |
| EBITDA ($USD) | ($83.469M)* | ($63.271M)* | — |
| Net Income ($USD) | ($96.274M) | ($72.710M) | ($113.918M) |
| TSR ($ value of initial $100) | $95.63 | $59.55 | $19.31 |
Values with asterisks (*) retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Millendo Therapeutics, Inc. | Chief Medical Officer | Oct 2014 – Jul 2019 | Senior clinical leadership at a U.S. public biopharma; CMO responsibilities |
| Shionogi Inc. | Vice President, Clinical Development | Jun 2012 – Oct 2014 | Led clinical development at Japanese public pharmaceutical subsidiary |
External Roles
No public company board directorships for Dr. Mohideen are disclosed in Item 10; his biography lists executive roles and education only .
Fixed Compensation
- Policy: Named executive officers (including CMO) participate in annual variable compensation; executive bonuses range between 40% and 150% based on Board-set objectives . Fixed annual CMO remuneration set at $567,787 for 2024 and expected to be maintained for 2025, payable monthly .
Mohideen – Summary compensation (reported)
| Component ($USD) | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Salary | $515,000 | $540,750 | $567,787 |
| Bonus | $210,120 | $222,356 | $150,804 |
| Stock Awards (grant-date FV) | $93,243 | $62,067 | $18,724 |
| Option Awards (grant-date FV) | $258,444 | $288,058 | $83,447 |
| All Other Compensation | — | $166,293 | — |
| Total | $1,076,807 | $1,279,518 | $820,762 |
Performance Compensation
- Annual bonus structure: For named executive officers (CFO and CMO), annual variable compensation is determined by the Board on Compensation Committee recommendation; specific metric weightings and targets for the CMO are not disclosed . Executives’ bonus policy range is 40–150% based on yearly objectives .
Equity awards and vesting
- Vesting schedule: Prior to Nov 2022, options/RSUs vest 25% at 12 months, then in six equal semi-annual installments; from Nov 2022 onward, 4-year grants with 25% vesting each year. Some 2019 options are subject to clinical performance conditions .
| Grant Date | Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price (EUR) | Expiry | Unvested RSUs (#) | RSU Market Value ($) |
|---|---|---|---|---|---|---|---|
| 07/22/2019 | Options | — | 75,000 | 17.90 | 07/22/2029 | — | — |
| 11/24/2020 | Options | 95,400 | — | 4.16 | 11/24/2030 | — | — |
| 11/22/2021 | Options | 71,550 | 23,850 | 5.87 | 11/22/2031 | 2,177 | $1,424.9 |
| 07/29/2022 | Options | 62,500 | 37,500 | 4.72 | 07/29/2032 | 3,750 | $2,454.4 |
| 11/21/2022 | Options | 57,500 | 57,500 | 3.00 | 11/21/2032 | 8,750 | — |
| 11/20/2023 | Options | 53,750 | 161,250 | 2.00 | 11/20/2033 | 26,250 | $17,180.8 |
| 11/21/2024 | Options | 215,000 | — | 0.71 | 11/21/2034 | 35,000 | $22,907.7 |
Equity Ownership & Alignment
- Beneficial ownership (as of April 15, 2025): 441,533 shares beneficially owned, comprising 25,833 shares and 415,700 options exercisable within 60 days; less than 1% of outstanding shares .
- Outstanding equity plan capacity at 12/31/2024: RSUs outstanding 2,883,082 and 876,250 remaining available; stock options outstanding 2,496,803 with weighted-average exercise price €33.99 .
- Pledging/hedging: No pledging or hedging by Mohideen is disclosed. Company clawback policies compliant with Sarbanes-Oxley 304 and Dodd-Frank adopted Nov 20, 2023 per Nasdaq rules .
Ownership snapshot
| Item | Detail |
|---|---|
| Total beneficially owned | 441,533 shares; <1% of outstanding |
| Shares | 25,833 |
| Options exercisable within 60 days | 415,700 |
| RSUs unvested (select grants) | 2,177; 3,750; 8,750; 26,250; 35,000 |
Employment Terms
| Term | Provision |
|---|---|
| Employment start | July 2019 (CMO) |
| Standard severance | 12 months base salary for termination “without cause” or for “good reason” |
| Change-in-control (CoC) severance – employment agreement | 12 months base salary + target bonus at 100% if CoC separation |
| Enhanced CoC amendment (Dec 16, 2024) | 24 months base salary + 1x target annual bonus, lump-sum within 60 days post CoC separation; COBRA premiums up to 24 months; equity “cash bonus” equal to intrinsic value of unvested continued awards if not accelerated |
| Bonus plan policy | 40–150% range; objectives set annually by Board |
| Clawback | SOX 304 reimbursement if misconduct-related restatement; Dodd-Frank compliant clawback policy adopted Nov 20, 2023 |
| Non-compete / non-solicit | Not disclosed in filings reviewed |
Risk Indicators & Red Flags
- Late Section 16(a) filings: Late Form 4s filed for transactions on May 22, 2024 and Nov 22, 2024, indicating minor compliance lapses .
- Ongoing losses and TSR decline: Net losses and TSR trend highlight investor sensitivity to regulatory and clinical milestones during Mohideen’s tenure .
- Option-heavy equity mix: Significant unvested options/RSUs with clinical and time-based vesting tie executive outcomes to development progress; performance-conditioned grants exist (2019) .
Compensation Committee Analysis
- Committee composition: Compensation Committee members include Michel de Rosen, Daniel B. Soland, and Julie O’Neill (Chair) .
- Equity timing policy: Annual grants typically in Q4; Committee does not time awards around MNPI disclosures; no policy to time release of MNPI to affect compensation value .
Performance & Track Record
- Clinical/regulatory execution: Mohideen highlighted DBV’s line-of-sight to a potential BLA filing for Viaskin Peanut for toddlers ages 1–3 under Accelerated Approval Pathway and broader presence at ACAAI, reflecting focus on early intervention and pipeline progression .
- Company outcomes: Pay-vs-performance table shows declining TSR and net losses over 2022–2024, setting high stakes for near-term regulatory milestones .
Investment Implications
- Alignment: Equity-heavy incentives, vesting tied to clinical timelines, and enhanced CoC severance including equity value replacement suggest strong retention but potentially elevated change-of-control cost; absence of pledging and presence of clawbacks support governance quality .
- Retention risk: Enhanced CoC package (24 months salary + 1x bonus, COBRA, equity value cash bonus if awards are continued) materially lowers exit friction under M&A scenarios, aligning Mohideen with deal closure but increasing transaction-related compensation outflows .
- Trading signals: Late Form 4s in 2024 warrant monitoring of future insider transactions; equity award cadence and clinical performance triggers imply that positive regulatory events could reduce insider selling pressure via improved in-the-money values, while delays can increase pressure as options remain out-of-the-money .
- Execution risk: Company-wide TSR and losses point to outcome dependency on Viaskin Peanut regulatory path and trial readouts; Mohideen’s role central to value creation via timely filings and data quality, making compensation outcomes sensitive to FDA alignment and milestone execution .