Vikram Malik
About Vikram Malik
Vikram Malik (age 62) is an independent director of Evolus, Inc. and serves as Chairman of the Board since January 2018 (tenure ~7 years). He sits on the Compensation Committee and the Nominating & Corporate Governance Committee. Malik holds a B.A. in Economics from Delhi University and an M.B.A. from Boston University, and brings extensive investment banking and healthcare aesthetics sector experience to the board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Strathspey Crown Holdings Group, LLC | Managing Partner | May 2013 – Jun 2022 | Growth equity in healthcare/aesthetics; sector expertise |
| Priveterra Acquisition Corp. (SPAC) | President & Director | Dec 2020 – Jul 2023 | Led blank-check M&A platform; public company governance exposure |
| Aeon Biopharma | Director | Apr 2014 – Jul 2023 | Therapeutic neurotoxin strategy; aesthetics/biopharma overlap |
| Deutsche Bank Securities, Inc. | Vice Chairman, Investment Banking | Aug 2011 – May 2013 | Capital markets leadership |
| Merrill Lynch, Pierce, Fenner & Smith | Managing Director, Healthcare CIB | Nov 2010 – Aug 2011 | Healthcare financing expertise |
| Banc of America Securities, LLC | Managing Director | Jun 2000 – Nov 2010 | Investment banking leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Alphaeon Credit Inc. | Chairman of the Board | Current | Consumer credit in aesthetics; private company |
| Crown Sterling Limited, LLC | Director | Current | Social media technology; private |
| Ceyeber Inc. | Director | Current | Ophthalmic medical devices; private |
| Priveterra Acquisition Corp. | Director (Former) | Dec 2020 – Jul 2023 | Public company; de-SPAC/transactional expertise |
| Other public boards | None current | — | No current public company boards reported |
Board Governance
- Independence: The board determined Malik qualifies as an independent director under Nasdaq rules .
- Board leadership: Evolus separates the Chair and CEO roles; Malik is non-executive Chairman, supporting independent oversight .
- Committee assignments: Compensation Committee member; Nominating & Corporate Governance Committee member. Compensation chaired by David Gill; Nom/Gov chaired by Karah Parschauer .
- Meetings and attendance: Board held six meetings in 2024; each director attended at least 75% of board/committee meetings; non‑employee directors meet in executive session during regular meetings .
- Compensation committee interlocks: None—committee members were independent; no relationships requiring related‑party disclosure; no insider participation issues .
- Policies: Code of Conduct; Insider Trading Policy prohibits hedging/pledging and short sales; executive compensation clawback policy compliant with SEC/Nasdaq .
Fixed Compensation (Director)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer (non‑employee director) | $50,000 | Paid quarterly (2024) |
| Additional Chairman retainer | $35,000 | 2024; increases to $50,000 in 2025 |
| Audit Chair / Member | $20,000 / $10,000 | Annualized, paid quarterly |
| Compensation Chair / Member | $15,000 / $7,500 | Annualized, paid quarterly |
| Nominating & Gov Chair / Member | $10,000 / $5,000 | Annualized, paid quarterly |
2024 compensation for Vikram Malik:
| Item | Amount ($) |
|---|---|
| Fees earned (cash) | 112,000 |
| Stock awards (RSUs) | 84,743 |
| Option awards | 84,997 |
| Total | 281,740 |
2024 director equity grants (February 2024): each non‑employee director received 6,464 RSUs (vest in 12 months) and options for 9,377 shares at $13.15 (vest monthly over 12 months); unvested awards fully vest upon certain changes in control .
Performance Compensation (Director)
- No performance-based equity or cash metrics are disclosed for directors; annual director equity grants are time-based RSUs and options with standard vesting schedules .
Other Directorships & Interlocks
| Entity | Relationship to Evolus | Potential Interlock/Comment |
|---|---|---|
| Aeon Biopharma (former director) | AEON is developing ABP‑450 (prabotulinumtoxinA), the same botulinum toxin complex marketed by Evolus as Jeuveau for aesthetics; AEON seeks therapeutic biosimilar pathway in U.S. | |
| Alphaeon Credit / Crown Sterling / Ceyeber | No disclosed transactions with Evolus | Private companies; no related‑party deals disclosed in proxy |
- Related‑party oversight: Audit Committee approves related‑person transactions >$120,000; 2024–2025 disclosures include Medytox settlement payments and Daewoong supply agreement, but no transactions tied to Malik or his affiliated entities .
Expertise & Qualifications
- Core skills: Investment banking leadership, capital markets, healthcare and aesthetics sector knowledge; board and SPAC governance experience .
- Education: B.A. in Economics (Delhi University); M.B.A. (Boston University) .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Notable Components |
|---|---|---|---|
| Vikram Malik | 369,658 | <1% | Includes 103,746 options exercisable within 60 days |
Director outstanding awards as of Dec 31, 2024:
| Award Type | Quantity |
|---|---|
| Options outstanding & unexercised | 99,397 |
| RSUs outstanding | 10,966 |
Insider trading and alignment policies:
- Pledging/hedging prohibited for insiders (including directors) .
Governance Assessment
- Board effectiveness: Independent Chairman structure with Malik enhances separation from management; robust committee activity (Audit: 4 meetings, Comp: 6, Nom/Gov: 2) and ≥75% attendance support governance quality .
- Independence and conflicts: Board affirmatively determined Malik is independent; proxy discloses no related‑party transactions involving Malik or his entities—risk of direct conflicts appears low .
- Compensation alignment: Director pay mix balances cash retainers with time‑based equity; no performance equity for directors—appropriate for non‑employee oversight roles .
- Risk indicators: Company prohibits hedging/pledging and maintains a clawback policy; no stock option repricing or tax gross‑ups; Compensation Committee engaged independent consultant (Radford) and reported no interlocks—favorable governance signals .
- Investor sentiment: 2024 say‑on‑pay approved with ~91% support, suggesting general investor confidence in compensation governance (indirect but relevant signal) .
RED FLAGS: None disclosed specific to Malik. Former AEON Biopharma board role intersects with Evolus’ product complex (Jeuveau/ABP‑450), but current proxy shows no related‑party transactions—monitor for future therapeutic/aesthetic cross‑licensing developments that could introduce perceived conflicts or information asymmetry .
Appendix: Committee Memberships
| Committee | Members | Chair | 2024 Meetings |
|---|---|---|---|
| Audit | David Gill; Simone Blank; Brady Stewart | David Gill | 4 |
| Compensation | David Gill; Vikram Malik; Karah Parschauer; Albert White III | David Gill | 6 |
| Nominating & Corporate Governance | Karah Parschauer; Vikram Malik; Brady Stewart | Karah Parschauer | 2 |