Richard Glickman
About Richard M. Glickman
Founding Chairman of ESSA Pharma’s Board since October 2010, Dr. Richard M. Glickman is a veteran healthcare entrepreneur best known for co-founding and leading Aspreva Pharmaceuticals and later serving as CEO/Chairman of Aurinia Pharma until his retirement in 2019. He currently serves on external biotech boards (enGene Holdings Inc. and Eupraxia Pharmaceuticals) and has received notable industry awards (Ernst & Young Entrepreneur of the Year; Corporate Leadership Award from Lupus Foundation of America). Tenure on ESSA’s board: since October 2010. Education and age are not disclosed in the company’s filings.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ESSA Pharma Inc. | Founding Chairman of the Board | Oct 2010 – Present | Oversees Board operations; independent director on Compensation Committee; prior Audit Committee membership (stepped down Oct 17, 2019) |
| Aurinia Pharmaceuticals Inc. | Chairman; CEO | Chairman Feb 2014 – Apr 2019; CEO Feb 2017 – Apr 2019 | Led strategic transformation; retired in 2019 |
| Aspreva Pharmaceuticals Inc. | Co‑founder; Chairman; CEO | Prior to acquisition by Galenica | Built and sold for $915M; major biotech exit |
| StressGen Biotechnologies | Co‑founder; CEO | Prior | Early biotech operator track record |
| Cardiome/Correvio Pharma Corp. | Director; Lead Independent Director; Committee member | Sept 2013 – May 2019 | Compensation & Audit Committee member; lead independent director |
| Life Sciences B.C.; Canadian Genetic Diseases Network, National Biotechnology Advisory Committee | Board/Advisory roles | Various | Industry leadership; policy influence |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| enGene Holdings Inc. | Director/Chairman of the Board | Present | Current public company board service |
| Eupraxia Pharmaceuticals Inc. | Director | Mar 2021 – Present | Current public company board service |
| Lumira Ventures | Venture Partner | Mar 2016 – Present | Venture investing role |
| Prior boards (selection) | Various Director roles | Historical | Atreca, Kezar, Atea, Bellus, Proteostasis, Rain, Satellos et al. (Glickman’s biography primarily lists Berger’s boards; Glickman’s current external roles are enGene and Eupraxia) |
Board Governance
- Independence: Considered independent under NI 52‑110 and Nasdaq rules for compensation committee service; historically independent committee member.
- Committee assignments:
- Compensation Committee member (with chair typically Scott Requadt).
- Corporate Governance & Nomination Committee member (appointed Jan 15, 2020).
- Former Audit Committee member (stepped down Oct 17, 2019).
- Attendance:
- FY2024: Board 4/4; Compensation 2/2; Corporate Governance 1/1.
- FY2022: Board 5/5; Compensation 1/1; Corporate Governance 3/3.
- FY2021: Board 5/5; Compensation 2/2; Corporate Governance 1/1.
- FY2020: Board 6; Compensation 1; committee attendance summarized per table.
- Overboarding policy: Limits non‑CEO directors to ≤5 public boards; Glickman currently appears within limits (ESSA + enGene + Eupraxia).
Fixed Compensation
| Fiscal Year (ended Sep 30) | Cash Retainer/Fees ($) | Notes |
|---|---|---|
| 2024 | 75,000 | Includes chairman retainer; no “other” compensation disclosed |
| 2023 | 70,000 | No option awards in FY2023 except for a new director; RSUs none outstanding as of 9/30/2023 |
| 2022 | 70,000 | Standard director cash fees |
| 2021 | 70,000 | Standard director cash fees |
| 2020 | 70,000 | Standard director cash fees |
Performance Compensation
- Structure: Directors receive stock options (no RSUs historically); initial board grant and annual grant; no non‑equity incentive plan compensation for directors.
- Vesting mechanics:
- Initial grants: 50,000 stock options vest ratably in 36 monthly installments.
- Annual grants: options vest in full at the next AGM following grant date (22,500 in 2022).
- RSUs: None outstanding as of Sept 30, 2023; equity plan balances disclosed.
| Fiscal Year (ended Sep 30) | Option Awards – Grant Date Fair Value ($) | Notes |
|---|---|---|
| 2024 | 632,644 | Largest recent option FV; total director remuneration $4,469,556 aggregate |
| 2023 | — | No option awards reported for Glickman in FY2023 table |
| 2022 | 33,109 | Annual director option grant FV |
| 2021 | 145,432 | Annual director option grant FV |
| 2020 | 148,873 | Annual director option grant FV; valuation assumptions disclosed |
| Equity Award Mechanics | Detail |
|---|---|
| Initial grant | 50,000 options; 36‑month ratable vesting |
| Annual grant | 22,500 options in 2022; vests at next AGM |
| RSUs outstanding (as of 9/30/2023) | None |
| Options held (as of 9/30/2024) | 203,250 options (Glickman) |
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict |
|---|---|---|
| enGene Holdings Inc. | Director/Chairman of the Board | No ESSA‑disclosed related party transactions with enGene |
| Eupraxia Pharmaceuticals Inc. | Director | No ESSA‑disclosed related party transactions with Eupraxia |
| Historical: Cardiome/Correvio | Lead Independent Director; committees | Historical role; no current ESSA RPT disclosed |
Expertise & Qualifications
- Entrepreneurial leadership: Co‑founder/CEO of Aspreva; led sale to Galenica for $915M; CEO/Chairman of Aurinia until 2019; multiple biotech board experiences.
- Industry recognition: Ernst & Young Entrepreneur of the Year; Lupus Foundation of America Corporate Leadership Award.
- Board leadership: Long‑tenured independent chairman with committee experience spanning audit (historic), compensation, and governance.
Equity Ownership
| Record Date | Shares Beneficially Owned | % of Outstanding | Breakdown/Notes |
|---|---|---|---|
| Jan 8, 2025 (FY2025 proxy) | 188,700 | Less than 1% | Nominees table confirms 188,700; low ownership percentage |
| Jan 16, 2024 (FY2024 proxy) | 193,410 | Less than 1% | Footnote: 47,950 common; 137,000 options exercisable within 60 days; 8,460 indirectly via spouse |
| Jan 10, 2023 (FY2023 proxy) | 149,950 | Less than 1% | Composition shown at group level; director‑level totals stated |
| Jan 13, 2021 (FY2021 proxy) | 103,268 | Less than 1% | Footnote: 47,950 common; 55,318 options; 5,000 via spouse |
| Options and Equity Context | Detail |
|---|---|
| Options held (as of 9/30/2024) | 203,250 |
| Equity plan pool (as of 9/30/2023) | 8,112,774 outstanding options; WAEP $4.97; 506,969 shares remaining available; no RSUs outstanding |
Governance Assessment
- Board effectiveness and engagement: Near‑perfect attendance over multiple years (FY2024 100% across assigned committees; FY2022/2021 full attendance), indicating high engagement and reliability.
- Independence: Serves as independent director on key committees; independence affirmed under NI 52‑110/Nasdaq standards—supports objective oversight of pay and governance.
- Ownership alignment: Beneficial ownership consistently <1% with meaningful option exposure (203,250 options as of FY2024), but direct share ownership is modest; no pledging or hedging disclosures observed.
- Compensation signals: Cash retainer stable at $70–75k; option grant FV fluctuated materially (no option FV in FY2023; large FV in FY2024), suggesting episodic use of equity vs steady annual grants. No director performance metrics or non‑equity incentives disclosed—standard for non‑employee directors.
- Conflicts/Related parties: Only standard director fees/expense reimbursements disclosed; no loans or business dealings tied to Glickman identified—low conflict risk. Amounts due to related parties noted historically in payables, routine in nature.
- Overboarding risk: Company policy caps at five boards; Glickman’s disclosed current public boards (ESSA, enGene, Eupraxia) are within limits.
RED FLAGS: None material disclosed specific to Glickman (no related‑party transactions beyond director fees; no attendance issues; no pledging). Monitor the unusually large FY2024 option award FV for directors as a potential signal of shifting pay mix or retention objectives.
Committee Assignments Snapshot
| Committee | Role | Period |
|---|---|---|
| Compensation | Member | Ongoing (independent) |
| Corporate Governance & Nomination | Member | Appointed Jan 15, 2020 |
| Audit | Former Member | Stepped down Oct 17, 2019 |
Director Compensation (Annual)
| FY | Cash Fees ($) | Option Awards FV ($) | Total ($) |
|---|---|---|---|
| 2024 | 75,000 | 632,644 | 707,644 |
| 2023 | 70,000 | — | 70,000 |
| 2022 | 70,000 | 33,109 | 103,109 |
| 2021 | 70,000 | 145,432 | 215,432 |
| 2020 | 70,000 | 148,873 | 218,873 |
Attendance (Board and Committees)
| Fiscal Year | Board | Audit | Compensation | Governance/Nominating |
|---|---|---|---|---|
| 2024 | 4 of 4 | N/A | 2 of 2 | 1 of 1 |
| 2022 | 5 of 5 | N/A | 1 of 1 | 3 of 3 |
| 2021 | 5 of 5 | N/A | 2 of 2 | 1 of 1 |
| 2020 | 6 | N/A | 1 | N/A |
Equity Ownership Details (FY2024 Proxy Footnote)
| Component | Shares/Options |
|---|---|
| Common Shares (direct) | 47,950 |
| Options exercisable ≤60 days | 137,000 |
| Indirect (spouse) | 8,460 |
| Total beneficial ownership | 193,410 |
Related Party Transactions (Summary)
| Item | Disclosure |
|---|---|
| Director fees | Routine fees disclosed; e.g., quarterly/semiannual director fees including Glickman |
| Payables to related parties | Periodic balances due to directors for compensation/reimbursements |
| Loans/Business dealings | None disclosed involving Glickman |
Equity Ownership
- Beneficial ownership <1% across years; options provide equity exposure; no RSUs outstanding as of 9/30/2023.
- Options held: 203,250 as of 9/30/2024; exercisable within 60 days at record date were 137,000 (FY2024 proxy).
Governance Assessment
- High engagement with consistent attendance and independent committee service strengthens investor confidence in board oversight.
- Ownership alignment is moderate via options; direct share ownership is limited; no pledging/hedging disclosures observed—neutral alignment signal.
- No material conflicts or related‑party transactions disclosed beyond standard fees; external boards are within the company’s overboarding policy.