Lori Kunkel
About Lori Kunkel
Lori Kunkel, M.D., age 67, is an independent Class III director at Enliven Therapeutics (ELVN) since April 2024; her current term runs through the 2026 annual meeting. She holds a B.A. from UC San Diego and an M.D. from the University of Southern California; she is board-certified in internal medicine and previously held certifications in hematology and oncology, bringing deep clinical and biotech board experience to ELVN’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Loxo Oncology, Inc. | Director; Acting Chief Medical Officer | Director: 2014–2019; Acting CMO: 2013–2014 | Oversaw clinical strategy; oncology focus |
| Tocagen Inc. | Director; Acting Chief Medical Officer | Director: Sep 2015–Jun 2020; Acting CMO: Nov 2018–Apr 2019 | Clinical leadership; transition period |
| Curis, Inc. | Director | Nov 2016–Sep 2022 | Board oversight at public biotech |
| Maverick Therapeutics, Inc. | Director | Jan 2017–Apr 2021 | Private biotech governance |
External Roles
| Organization | Role | Tenure | Public/Private | Committees/Notes |
|---|---|---|---|---|
| Nurix Therapeutics, Inc. | Director | Since Aug 2019 | Private (per ELVN proxy) | Not disclosed |
| ORIC Pharmaceuticals, Inc. | Director | Since Jun 2020 | Public | Not disclosed |
| K36 Therapeutics, Inc. | Director | Since Dec 2021 | Private | Not disclosed |
| LAK505-CA, LLC | Principal/Owner | Since Jun 2016 | Private consultancy | Biotech consulting |
Board Governance
- Independence: ELVN’s board determined Dr. Kunkel is independent under Nasdaq rules; six of eight directors are independent .
- Committee assignment: Member, Nominating & Corporate Governance Committee; chair is Andrew Phillips .
- Attendance: In 2024, the board held 4 meetings; each director attended at least 75% of board and applicable committee meetings. The Nominating & Corporate Governance Committee held 3 meetings; Audit Committee held 4; Compensation Committee held 3 .
- Class/term: Class III director; current term expires at the 2026 annual meeting .
Fixed Compensation
| Component | 2024 Amount | 2025 Policy (if changed) | Notes |
|---|---|---|---|
| Board annual cash retainer | $35,000 | $40,000 (effective Jan 2025) | Paid quarterly, prorated |
| Nominating & Governance committee member fee | $4,000 | $5,000 (effective Jan 2025) | Member fee; chair receives $8,000→$10,000 |
| Total cash paid to Dr. Kunkel (2024) | $33,379 | — | Prorated due to April 2024 appointment |
| Director Compensation – 2024 Actuals | Cash Fees ($) | Option Awards ($) | Total ($) |
|---|---|---|---|
| Lori Kunkel, M.D. | $33,379 | $499,989 | $533,368 |
- Mix: Equity comprised ~94% of Dr. Kunkel’s 2024 director compensation (option grant value $499,989 vs. cash $33,379) .
Performance Compensation
| Equity Award Type | Grant Value | Vesting | Caps/Notes |
|---|---|---|---|
| Initial Award (upon becoming director) | $500,000 Value in 2024 | 36 equal monthly installments (time-based) | Cap: ≤64,923 shares (subject to adjustments) |
| Annual Award (Q1 each year) | $250,000 Value (raised to $325,000 in Jan 2025) | Vests fully by next annual meeting or 1-year anniversary, whichever earlier | Cap: ≤32,461 shares (chair higher cap; adjustments) |
| Change-in-Control (CIC) | — | Full acceleration of outstanding director awards immediately prior to CIC (if serving through date) | Single-trigger acceleration for directors |
- Performance metrics: None disclosed for director equity (time-based vesting only; no TSR/ESG metrics for directors) .
Other Directorships & Interlocks
| Potential Interlock | Details | Governance Consideration |
|---|---|---|
| ORIC Pharmaceuticals | Dr. Kunkel is a current ORIC director ; ELVN Chair Richard Heyman has served as an ORIC director and executive, including director since March 2015 | Network ties may aid info flow; board should monitor for conflicts on overlapping industry matters |
Expertise & Qualifications
- Clinical and oncology expertise: Board-certified internist with prior hematology/oncology certifications; multiple acting CMO roles at oncology biotechs .
- Biotech governance: Service on public and private biotech boards (ORIC, Loxo, Curis, Tocagen, Nurix, K36) evidences broad boardroom experience .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Breakdown |
|---|---|---|---|
| Lori Kunkel, M.D. | 79,304 | <1% (*) | 45,926 shares held of record; 33,378 options exercisable within 60 days |
| Shares Outstanding (denominator) | 49,038,730 | — | — |
- Hedging/pledging: ELVN prohibits hedging and pledging of company stock by directors and related persons, supporting alignment with shareholders .
Governance Assessment
- Strengths: Independent status; strong clinical/oncology background; service on Nominating & Governance Committee; solid attendance norms; heavy equity-based pay encourages alignment; strict anti-hedging/pledging policy .
- Compensation structure signals: 2025 increases to cash retainers and annual option award values (Initial $500k→$650k; Annual $250k→$325k), modestly raising guaranteed cash while maintaining equity-heavy mix for directors .
- Conflicts/related-party: No related-party transactions disclosed involving Dr. Kunkel; board’s audit committee reviews and pre-approves related-party deals per policy .
- Watch items / RED FLAGS:
- Single-trigger acceleration of director equity upon change-in-control could be viewed as less shareholder-friendly in some governance frameworks; transparency mitigant exists via clear policy disclosure .
- Historical option repricing at Former Enliven (Aug 9, 2022) lowered exercise prices to $2.48 for outstanding options; not tied to directors and predates Dr. Kunkel’s tenure, but remains a governance practice worth monitoring for future precedent .
Net: Dr. Kunkel’s independence, domain expertise, and equity-forward pay design support investor confidence; limited conflict exposure is positive. Continued monitoring of interlocks and CIC equity acceleration terms is advisable .