Sean Jeffries
About Sean Jeffries
Sean Jeffries, Ph.D., is Chief Operating Officer of Design Therapeutics, Inc. (DSGN), a role he has held since January 2021 after serving as Chief Business Officer from May 2019 to January 2021; he is 45 years old as of April 24, 2025 . He holds a B.A. in Computer Science from the College of Wooster and a Ph.D. in Physiology, Development and Neuroscience from the University of Cambridge . In 2024, management goals for executive bonuses were achieved at 100% (R&D, pipeline, and operating objectives), and the company set Jeffries’ target annual bonus at 40% of base salary (actual bonus paid: $173,060 for 2024; $124,803 for 2023) . DSGN prohibits pledging, hedging, short sales, margin accounts, and options trading in company stock, supporting alignment with long-term shareholders .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Design Therapeutics, Inc. | Chief Operating Officer | Jan 2021–present | Senior operating leadership for pipeline and corporate objectives |
| Design Therapeutics, Inc. | Chief Business Officer | May 2019–Jan 2021 | Business leadership prior to COO appointment |
| Marlinspike Group, Inc./LLC | Principal | Feb 2018–Feb 2020 | Strategy and business consulting roles prior to joining DSGN; historical related-party ties noted in company disclosures |
| The Boston Consulting Group | Management Consultant (Healthcare/PE core member) | Apr 2014–Jan 2018 | Led biopharma R&D strategy projects |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Boston Consulting Group | Management Consultant | 2014–2018 | Biopharma R&D strategy leadership (external to DSGN) |
| Marlinspike Group, Inc./LLC | Principal | 2018–2020 | Consulting and business development support (external to DSGN) |
Fixed Compensation
Multi-year compensation summary (Sean Jeffries):
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | 416,010 | 432,650 |
| Bonus ($, discretionary) | — | 26,940 |
| All Other Compensation ($) | 13,200 | 13,852 |
| Total ($) | 1,283,615 | 1,315,002 |
Base salary history and targets:
| Item | 2023 | 2024 | Notes |
|---|---|---|---|
| Annual Base Salary ($) | 416,010 | 432,650 | Approved via Compensation Committee |
| Target Bonus (% of Salary) | 40% | 40% | Target set by Compensation Committee |
Performance Compensation
Annual cash incentive outcomes:
| Year | Target Bonus % | Corporate Goal Achievement | Non-Equity Incentive Paid ($) | Notes |
|---|---|---|---|---|
| 2023 | 40% | 75% | 124,803 | Goals: R&D, pipeline, operating objectives |
| 2024 | 40% | 100% | 173,060 | Goals: R&D, pipeline, operating objectives |
Key equity awards and vesting:
| Grant Date | Type | Shares | Exercise Price | Vesting/Conditions | Expiration |
|---|---|---|---|---|---|
| Jan 2, 2024 | Stock Option | 350,000 | $2.54 | 20% on Jan 1, 2025; then 20%/30%/30% in equal monthly installments over each subsequent 12 months | Jan 1, 2034 |
| Jan 1, 2025 | Stock Option | 260,000 | $6.17 | 20% one year from Jan 1, 2025; then 20%/30%/30% in equal monthly installments over each subsequent 12 months | 10-year term typical under plan; grant made in 2025 |
| Feb 1, 2023 | Stock Option | 140,000 (unexercisable as of 12/31/23) | $7.97 | 20% after 1 year; then 20%/30%/30% monthly thereafter | Jan 31, 2033 |
| Feb 1, 2022 | Stock Option | 350,000 (227,500 ex.; 122,500 unex.) as of 12/31/24 | $12.77 | 20% after 1 year; then 20%/30%/30% monthly thereafter | Jan 31, 2032 |
Outstanding equity as of Dec 31, 2024 (Jeffries):
| Exercisable Options (#) | Unexercisable Options (#) | Notes |
|---|---|---|
| 278,833 (51,333 from 2023 grant; 227,500 from 2022 grant) | 561,167 (350,000 from 2024 grant; 88,667 from 2023 grant; 122,500 from 2022 grant) | 2024 grant begins vesting in 2025 |
Equity plan change-in-control framework: no automatic acceleration on “change in control”; in a “corporate transaction,” if awards are not assumed, time-based vesting accelerates for current participants prior to closing; performance awards accelerate at 100% of target unless otherwise provided .
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Beneficial Ownership (Shares) | 1,243,836 total; includes 809,703 common; 431,083 options exercisable within 60 days; 3,050 held by a household member |
| Ownership (% of Outstanding) | 2.2% based on 56,768,678 shares outstanding |
| Hedging/Pledging | Prohibited: no pledging, margin accounts, short sales, options, or hedging |
| Insider Filing Note | Form 4 for Jan 2, 2024 option grant filed on Jan 5, 2024 (company disclosed under Section 16(a)) |
Employment Terms
- Agreement: Letter agreement initially established base salary and eligibility for performance bonus; target bonus set at 40% of base salary by Compensation Committee .
- Severance/Change in Control: No individual severance or change-in-control cash benefits for Jeffries are disclosed in the 2024–2025 proxies; company-level equity plan governs award treatment in transactions/change in control (see above) .
- Clawback: DSGN implemented a Dodd-Frank-compliant clawback policy and notes potential SOX 304 reimbursement where applicable .
- Perquisites/Benefits: Participates in standard employee benefit plans; 401(k) match included in “All Other Compensation” ($13,852 in 2024; $13,200 in 2023) .
Compensation Structure Analysis
- Mix and trend: For 2024, cash compensation included $432,650 salary and $173,060 performance bonus plus $26,940 discretionary bonus; equity grant-date fair value was $668,500, indicating meaningful at-risk pay via equity . In 2023, salary was $416,010 with $124,803 bonus and $729,602 equity value .
- Performance rigor: Corporate goals achieved at 75% in 2023 and 100% in 2024; metrics include R&D, pipeline, and operating objectives (weights not disclosed) .
- Equity design: Options vest 20/20/30/30 with annual cliffs then monthly vesting; recent grants at exercise prices $2.54 (2024) and $6.17 (2025) with 10-year terms, aligning value with stock appreciation and spreading potential selling pressure over time .
- Governance: Compensation Committee uses FW Cook for benchmarking and has updated peer assessments; board independence requirements met .
Risk Indicators & Red Flags
- Related-party context: Historical consulting relationships involving Marlinspike (CEO-affiliated) and Jeffries’ prior officer role at Marlinspike disclosed by the company (contract now expired) .
- Section 16(a) note: Company disclosed the Jan 2, 2024 option grant Form 4 was filed Jan 5, 2024 (administrative timing note) .
- Pledging/hedging: Prohibited by policy (mitigates misalignment risk) .
- Golden parachute/tax gross-ups: No Jeffries-specific severance disclosed; CEO has excise tax gross-up—Jeffries not indicated to have similar terms .
Director/Governance Items Relevant to Pay-for-Performance
- Compensation Committee members and independence, with chartered responsibilities including goal-setting, benchmarking, and risk assessment of pay practices .
- No automatic acceleration on change-in-control under the 2021 Equity Incentive Plan; treatment depends on assumption/continuation and plan administrator discretion .
Investment Implications
- Alignment: Jeffries’ 2.2% beneficial ownership and multi-year option schedules (with strikes at $2.54, $6.17, $7.97, and $12.77) tie realized pay to execution and share price over time; company policy banning pledging/hedging further supports alignment .
- Execution signals: 100% achievement on 2024 corporate goals and continued sizable option refresh in 2025 (260,000 options) suggest retention focus and confidence in pipeline milestones; however, lack of disclosed weighting/metric calibration limits external assessment of target rigor .
- Selling pressure/vesting overhang: Large unvested option balance (561,167 options unexercisable at 12/31/24) vests monthly after initial cliffs, moderating single-date selling pressure but creating a steady vesting cadence; monitoring Form 4s around vest dates is warranted .
- Retention risk: No disclosed individual severance or CIC cash protections for Jeffries; retention relies on ongoing equity grants and bonus opportunities under corporate goals .
Appendix — Additional Tables
Summary Compensation Details (Sean Jeffries)
| Year | Salary ($) | Bonus ($) | Option Awards ($) | Non-Equity Incentive ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|---|
| 2023 | 416,010 | — | 729,602 | 124,803 | 13,200 | 1,283,615 |
| 2024 | 432,650 | 26,940 | 668,500 | 173,060 | 13,852 | 1,315,002 |
Beneficial Ownership (as of Mar 31, 2025)
| Holder | Shares | % Outstanding |
|---|---|---|
| Sean Jeffries, Ph.D. | 1,243,836 (incl. 431,083 options exercisable within 60 days; 3,050 by household member) | 2.2% |
Company Shares Outstanding Reference
- Shares outstanding entitled to vote on Apr 15, 2025: 56,768,678 .