Ryan Daws
About Ryan Daws
Ryan Daws, age 51, is Chief Financial Officer (and Head of Business Development at appointment) of enGene, serving since November 27, 2023; he holds a B.Sc. in Finance and an International MBA from the University of South Carolina . His cash bonuses (like other executives) are tied to company-wide operational goals (clinical progress of detalimogene, manufacturing, financing activity, organizational build), aligning incentives with near-term execution milestones rather than pure TSR; enGene’s compensation committee judged 2024 corporate goals achieved for NEOs, illustrating emphasis on operational delivery over market outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact/Notes |
|---|---|---|---|
| Obsidian Therapeutics, Inc. | Chief Financial Officer & Head of Business Development | Jul 2019 – Nov 2023 | Led finance, BD, IT, IR, and facilities functions . |
| Robert W. Baird & Co. | Managing Director, Healthcare Investment Banking | Jun 2017 – Mar 2019 | Executed IPOs, follow-ons, private placements and M&A for life sciences clients . |
| Concert Pharmaceuticals, Inc. | Chief Financial Officer & Head of Business Development | Jan 2014 – Jun 2017 | Finance and BD leadership at a public biotech . |
| Stifel, Nicolaus & Company | Investment Banker (Life Sciences) | Sep 2010 – Jun 2013 | Life-sciences-focused investment banking . |
| Cowen & Company | Investment Banker (Life Sciences) | Not disclosed | Earlier life-sciences investment banking experience . |
External Roles
No public company directorships or external board roles for Mr. Daws are disclosed in the 2025 proxy or executive bio materials .
Fixed Compensation
| Component | Detail |
|---|---|
| Base Salary | $440,000 annual base salary (effective upon start) . |
| Target Annual Bonus | 40% of base salary . |
| Signing Bonus | $143,500 cash, paid in first payroll period of 2024; deemed earned after one full year of active employment . |
| Effective Date | Employment agreement effective November 27, 2023 . |
Performance Compensation
| Element | Metric | Weighting | Target | Actual/Payout | Notes | Source |
|---|---|---|---|---|---|---|
| Annual Cash Incentive | Company operational goals: clinical development of detalimogene, potential indications/DDX platform, manufacturing of detalimogene, financing activity, and corporate organization/brand | Not disclosed | 40% of base salary (CFO target) | Not disclosed (CFO-specific payout not reported) | Performance measured on calendar-year basis; committee judged 2024 corporate goals achieved for NEOs in aggregate |
Long-Term Incentives (Equity)
| Grant Type | Grant Date | Shares/Units | Exercise Price | Vesting | Term | Source |
|---|---|---|---|---|---|---|
| Stock Options | Nov 30, 2023 | 232,000 options | Fair market value on grant date | 25% on 1-year anniversary, remainder vests monthly over next 36 months | Options under the incentive plan have a term up to 10 years |
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership | Mr. Daws does not appear with an individual line item in the 2025 proxy share ownership table; aggregate insiders (directors and executive officers as a group, 13 persons) held 5,459,106 shares (10.4%) as of April 25, 2025 . |
| Granted Options | 232,000 options from employment agreement; vesting as above . |
| Hedging/Pledging Policy | Insider Trading Policy prohibits hedging and discourages pledging/margin; quarterly and special blackout periods apply . |
| Lock-up (Nov 2025 follow-on) | Officers, including Ryan Daws, signed a 90-day lock-up from the date of the prospectus (Nov 12, 2025) in connection with the underwritten offering . |
| Ownership Guidelines | No specific executive stock ownership multiple is disclosed in the 2025 proxy . |
Employment Terms
| Term | Without Cause / Good Reason Termination | Change-in-Control (CIC) Termination |
|---|---|---|
| Severance (Cash) | 12 months of base salary . | 12 months of base salary + target annual bonus . |
| Health Benefits | 12 months continued health insurance benefits (COBRA) . | 12 months continued health insurance benefits . |
| Bonus | Prorated portion of annual bonus if termination occurs ≥6 months into the performance period . | Target annual bonus amount included as above . |
| Equity | Acceleration of time-based equity that would have vested during the next 12 months . | Acceleration and vesting of all then-unvested time-based equity awards (double-trigger upon CIC-period termination) . |
| Non-Compete / Non-Solicit | Non-compete and non-solicit during employment and for 12 months post-termination . | Same restrictive covenants apply . |
| Term / At-Will | No fixed term; at-will employment . | |
| Clawback | Company-wide clawback policy adopted Nov 22, 2023, consistent with Nasdaq Listing Rule 5608 (recoupment upon certain restatements) . |
Performance & Track Record
- Financing execution: In November 2025, enGene conducted an underwritten offering during which the CFO signed the Underwriting Agreement and pre-funded warrant documentation, evidencing direct involvement in capital formation .
- Corporate responsibilities: CFO remit includes finance and business development leadership, consistent with his prior roles at Obsidian and Concert, and life-sciences banking background at Baird and Stifel .
Compensation Structure Analysis
- Equity-heavy, time-based alignment: Daws’ initial LTI grant consists of time-vested stock options (no PSU metrics disclosed), aligning him with share price appreciation but without explicit performance hurdles; options vest over four years, supporting retention through the commercialization window .
- Annual bonus tied to operational milestones: Company uses concrete operational objectives (clinical, manufacturing, financing, org build) as the basis for bonus determinations, anchoring pay to near-term execution rather than purely market-based metrics .
- Governance safeguards: Clawback policy in place; hedging prohibited and pledging discouraged under the Insider Trading Policy, which reduces misalignment risk .
Risk Indicators & Red Flags
- Selling pressure window: A 90-day lock-up was signed in connection with the November 12, 2025 offering, limiting insider sales until expiration and potentially influencing near-term trading dynamics after the lock-up ends .
- No individual ownership disclosure: The 2025 proxy’s share ownership table does not show a separate line for Daws, limiting external visibility into his current beneficial ownership level beyond the disclosed option grant .
- Double-trigger CIC protection: Accelerated vesting and cash severance require a qualifying termination within the CIC window (90 days before to 12 months after), which is more shareholder-friendly than single-trigger but still provides meaningful protection .
Investment Implications
- Alignment and retention: Option-heavy, time-vested equity promotes retention and alignment with equity value creation through the key 2026–2027 clinical and regulatory milestones; absence of explicit performance-conditioned equity (e.g., PSUs) means upside is tied primarily to share price appreciation rather than specified KPIs .
- Balanced but protective severance: A double-trigger CIC package (12 months base + target bonus, full acceleration of time-based equity) balances executive protection with shareholder interests; non-compete/nonsolicit extend 12 months post-termination, mitigating transition risk .
- Governance mitigants: A formal clawback policy and prohibitions on hedging (and discouragement of pledging) reduce misalignment and reputational risk, supportive for investors focused on pay governance quality .
- Near-term supply dynamics: The Nov 2025 follow-on included a 90-day lock-up for officers; monitor the lock-up expiry for any incremental insider liquidity that could affect trading flows .