Yujiro Hata
ENANTA PHARMACEUTICALSAbout Yujiro Hata
Independent Class II director at Enanta Pharmaceuticals since August 2021; age 50. He is CEO and founder of IDEAYA Biosciences (oncology precision medicine), holds a B.A. in Chemistry (Colorado College) and an MBA from The Wharton School. Prior roles span corporate development, M&A, and early-stage company building across Onyx Pharmaceuticals, Flexus/FLX Bio, Genome Therapeutics, ImClone, and prior business development at Enanta before 2011 . Enanta’s board deems him independent under Nasdaq rules via Compensation Committee membership .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| IDEAYA Biosciences | Chief Executive Officer; Founder | 2015–present | Built oncology precision medicine platform; founded while Executive-in-Residence at 5AM Ventures . |
| 5AM Ventures | Executive-in-Residence | 2015–2018 | Sourced/formed IDEAYA . |
| Flexus Biosciences / FLX Bio | Chief Operating Officer | 2014–Aug 2015 | Led through Flexus sale to Bristol-Myers Squibb (Apr 2015) . |
| Onyx Pharmaceuticals | VP, Corporate Development & Strategy | 2010–2013 | Corporate development roles until Onyx sale to Amgen (Oct 2013) . |
| Enanta Pharmaceuticals | Business development executive (prior) | before 2011 | Pre-2011 business development at Enanta . |
| Genome Therapeutics; ImClone Systems | Business/corporate development roles | n/a | Early-career BD roles . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| IDEAYA Biosciences | CEO | 2015–present | Public biotech; oncology-focused precision medicine . |
| Xencor, Inc. | Director | 2015–2022 | Prior public company directorship (no current public boards disclosed) . |
Board Governance
- Board committees: Compensation Committee member; Nominating & Corporate Governance Committee member; not on Audit Committee .
- Leadership: Non-executive Chairman is Dr. Bruce L.A. Carter; CEO Dr. Jay R. Luly is not independent .
- Independence: Compensation Committee members (including Hata) are independent and “non-employee directors” under Rule 16b-3 .
- Attendance: Board met 11 times in 2024; each director attended ≥75% of Board and committee meetings; independent directors held executive sessions at 4 meetings; all directors attended the 2024 annual meeting .
- Nominating process: Hata served on the 2025 Nominating Subcommittee (with Vance, Carter, Peterson) that approved director nominees .
Fixed Compensation
| Element | FY 2024 Amount |
|---|---|
| Annual retainer (cash) | $50,000 |
| Committee fees (cash) | Compensation member $7,500; Nominating member $5,000 → total $12,500 |
| Total cash fees earned | $62,500 |
Director cash policy schedule: Audit Chair $20,000 / member $10,000; Compensation Chair $15,000 / member $7,500; Nominating Chair $10,000 / member $5,000 . Non-employee director aggregate annual cap: $600,000 (or $900,000 in initial election year) .
Performance Compensation
| Equity Award | Grant Date | Units/Strike Structure | Fair Value | Vesting |
|---|---|---|---|---|
| Stock options (annual) | Mar 6, 2024 | 15,700 options; exercise prices across outstanding director options range $15.66–$102.54 (varies by grant) | $256,406 | Vests monthly until next annual meeting |
- Director equity is time-based; no director PSUs/rTSRUs disclosed. Options are granted annually and vest over the service year; no performance metrics tied to director equity .
- Context: As of Dec 31, 2024, Enanta stated all outstanding options under its plans were out-of-the-money (closing price $5.75), limiting incentive impact—an alignment consideration for all option holders, including directors .
Other Directorships & Interlocks
| Type | Details |
|---|---|
| Current public company boards | None disclosed beyond Enanta . |
| Prior public boards | Xencor, Inc. (2015–2022) . |
| Compensation Committee interlocks | During 2024, Compensation Committee members were Peterson (Chair), Carter, Hata, Vance; none were officers/employees of Enanta—except Hata historically before 2011 (no current employment) . |
| Related-party transactions | None since start of FY2024 (Audit Committee oversees related-party reviews) . |
Expertise & Qualifications
- Executive management, corporate/business development, M&A across public and private biotech; start-up formation and strategic partnering .
- Education: BA Chemistry (Colorado College), MBA (Wharton) .
- Board-level qualifications: Independent director; active on Compensation and Nominating & Governance Committees .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Composition |
|---|---|---|---|
| Yujiro Hata | 45,835 | * (<1%) | All options exercisable within 60 days of Dec 16, 2024 . |
- Director option inventory: 47,144 option shares outstanding as of Sept 30, 2024 (aggregate), with exercise prices ranging widely across historical grants .
- Hedging & pledging: Company policy prohibits hedging and pledging by directors and employees .
- Section 16: Company reports directors complied with Section 16(a) reporting in FY2024 (no Hata delinquencies noted) .
Governance Assessment
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Strengths:
- Independent status; active roles on key committees (Compensation; Nominating & Governance), supporting board effectiveness .
- Strong transactional and BD background (Onyx, Flexus/FLX Bio, IDEAYA) valuable for pipeline partnering and M&A oversight .
- Attendance and engagement standards met (≥75% attendance; executive sessions held; annual meeting attendance) .
- No related-party transactions; formal related-person policy administered by Audit Committee .
- Use of independent compensation consultant (Alpine) for director and executive pay; consultant affirmed independent .
-
Alignment considerations:
- Director compensation mix balances cash retainer/committee fees ($62,500 in FY2024) with annual at-risk option grants ($256,406 fair value), vesting with service rather than performance .
- Company-wide option overhang and out-of-the-money status as of Dec 31, 2024 may diminish equity alignment incentives; equity plan increases pursued to sustain retention and incentives .
-
RED FLAGS:
- None disclosed regarding related-party transactions, hedging, pledging, or option repricing (policy against repricing without stockholder approval) .
-
Shareholder sentiment:
- Say-on-pay support at 79% in 2024; Compensation Committee adjusted equity awards more modestly for FY2025—indicative of responsiveness to investors (executive comp context) .
Overall: Hata’s independent status, committee participation, and deep BD/M&A expertise bolster board effectiveness. Equity alignment exists via annual options, but broad out-of-the-money dynamics suggest limited near-term incentive value, mitigated by ongoing equity program management and prohibition of hedging/pledging .