John Schmid
About John Schmid
Independent Class I director at Design Therapeutics since November 2020 (age 62). Audit Committee Chair and Compensation Committee member; designated Audit Committee “financial expert” under SEC rules, reflecting deep CFO experience across biopharma. Education: B.A. in Economics (Wesleyan University) and M.B.A. (University of San Diego). Re-nominated and re-elected at the June 10, 2025 annual meeting for a term through the 2028 meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Auspex Pharmaceuticals, Inc. | Chief Financial Officer | Sep 2013 – Jun 2015 (until sale to Teva) | Led finance through sale to Teva Pharmaceutical Industries Ltd. |
| Trius Therapeutics | Co-founder; Chief Financial Officer | Jun 2004 – Sep 2013 (until merger with Cubist) | CFO through M&A exit; built public-company finance function. |
| GeneFormatics, Inc. | Chief Financial Officer | 1998 – 2003 | Private biotech CFO. |
| Endonetics Inc. | Chief Financial Officer | 1995 – 1998 | Medtech CFO. |
| Speak, Inc. | Chairman; Co-founder | Since 1989 | Chair of a speakers bureau. |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AnaptysBio, Inc. | Director | Since Jun 2015 | Public company board. |
| Bright Peak Therapeutics | Director | Since Mar 2025 | Board addition in 2025. |
| Helix Acquisition Corp II | Director | Since Feb 2024 | SPAC board. |
| Xeris Pharmaceuticals | Director | Since Sep 2017 | Public company board. |
| Poseida Therapeutics Inc. | Director | Jul 2018 – Jan 2025 | Departed Jan 2025. |
| Blacksmith Medicines (Forge Therapeutics, Inc.) | Director | May 2017 – Apr 2024 | Departed Apr 2024. |
| Neos Therapeutics | Director | Jun 2015 – Mar 2021 | Prior public board. |
| Helix Acquisition Corporation | Director | Oct 2020 – Apr 2022 | Prior SPAC board. |
Board Governance
- Independence: Board determined all directors other than CEO Pratik Shah are independent; Schmid is an independent director.
- Board leadership: Combined Chair/CEO (Pratik Shah) with a Lead Independent Director (Simeon George) structure to balance oversight.
- Committee roles (2024 activity shown):
- Audit Committee: Chair (Schmid); 4 meetings; Schmid designated “financial expert.”
- Compensation Committee: Member (Schmid); 2 meetings.
- Nominating & Corporate Governance: Not a member.
- Research & Development: Not a member.
- Attendance: Board met 4 times in 2024; each director attended ≥75% of Board and applicable committee meetings. Board met 7 times in 2023; each director attended ≥75%.
- 2025 election outcome (signal of investor confidence):
- John Schmid: 42,289,997 For; 458,141 Withheld; 10,833,440 Broker Non-Votes.
Fixed Compensation
| Year | Cash Fees ($) | Option Awards ($) | Total ($) |
|---|---|---|---|
| 2024 | 66,000 | 51,980 | 117,980 |
| 2023 | 55,000 | 51,696 | 106,696 |
- 2024 Director Compensation Policy (effective Jan 1, 2024) driving mix:
- Board annual retainer: $40,000; Audit Committee Chair: $20,000; Compensation Committee member: $6,000; Lead Independent Director additional $35,000 (not applicable to Schmid); annual option grant: 19,000 shares at each annual meeting.
Performance Compensation
| Grant/Plan | Shares/Terms | Vesting | Performance Conditions | Change-in-Control Treatment |
|---|---|---|---|---|
| Annual non-employee director option grant | 19,000 shares (effective 2024 policy) | Monthly over 12 months; vests fully by next annual meeting | None disclosed (time-based only) | Option grants vest in full upon change in control under 2021 Plan terms/policy. |
No director performance metrics (e.g., TSR/EBITDA) are disclosed for non-employee directors; equity awards are time-based per policy.
Other Directorships & Interlocks
- Major shareholders with board ties (context): SR One Capital Fund (11.5%) associated with director Simeon George; Logos Global funds (7.4%) associated with director Arsani William; no related ownership ties disclosed for Schmid.
- Related-party transactions reviewed by the Audit Committee; no Schmid-specific related-party transactions disclosed.
Expertise & Qualifications
- Designated Audit Committee “financial expert” based on formal education and public-company finance experience; regularly meets privately with auditors and management.
- Extensive CFO tenure across biopharma and medtech companies; seasoned public-company director across multiple issuers.
Equity Ownership
| As of | Direct Shares | Trust Shares | Options Exercisable (within 60 days) | Total Beneficial Ownership | % of Shares Outstanding |
|---|---|---|---|---|---|
| Mar 31, 2025 | 30,674 | 26,965 | 62,416 | 120,055 | <1% |
| Mar 31, 2024 | 30,674 | 26,965 | 43,750 | 101,389 | <1% |
- Hedging/pledging: Company policy prohibits pledging, margin, short sales, options, and hedging transactions in company stock for directors.
Governance Assessment
-
Strengths:
- Independent director and Audit Chair with SEC “financial expert” designation—supports credible financial oversight and risk management.
- High shareholder support in 2025 election (≈42.29M For vs 0.46M Withheld), indicating investor confidence.
- Active committee engagement (Audit Chair; Compensation member) and Board attendance ≥75% in 2024 and 2023.
- Director pay aligned with service (cash retainer + time-based options); no performance-conditioned director pay that might distort incentives.
- No disclosed Schmid-related party transactions; insider policy bans hedging/pledging.
-
Watch items / potential RED FLAGS:
- Multiple external board seats (AnaptysBio, Xeris, Helix Acquisition Corp II, Bright Peak) could raise time-commitment risk during periods of heightened DSGN audit or compensation workload.
- Company-level items under Audit Committee purview include related-party arrangements (e.g., CEO-linked lease and consulting), requiring robust independent oversight; continued vigilance mitigates governance risk.
- No disclosed director stock ownership guidelines; alignment relies on option grants and personal holdings.
Overall, Schmid’s independence, audit expertise, and re-election results are positives for investor confidence; ensure continued monitoring of workload across external boards and robust management of company-level related-party transactions through the Audit Committee.