Robert Blaustein
About Robert Blaustein
Robert Blaustein, M.D., Ph.D., is Chief Development Officer of Edgewise Therapeutics (appointed January 2025). He previously spent 15+ years at Merck leading late‑phase cardiovascular development, including chairing the vericiguat product development team through Phase 3 VICTORIA, regulatory filing, and global approval, and serving as Atherosclerosis and Heart Failure Section Head roles (2014–2025) . He holds a B.A. in mathematics (Wesleyan), M.D. and Ph.D. in neuroscience (Albert Einstein College of Medicine), completed residency at Brigham and Women’s, cardiology fellowship at MGH, an HHMI post‑doctoral fellowship at Brandeis, and was on Tufts faculty prior to Merck . Company performance context: Edgewise’s cumulative TSR (fixed $100 investment) rose to 307.34 in 2024 (from 127.81 in 2023), while net income remained negative per pay‑versus‑performance disclosure .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Merck & Co., Inc. | Associate VP, Atherosclerosis Section Head (Atherosclerosis & Metabolism Clinical Research) | Jun 2023–Jan 2025 | Led all late‑phase development in atherosclerosis |
| Merck & Co., Inc. | Associate VP, Heart Failure Section Head | Jan 2021–Jun 2023 | Led HF clinical development programs |
| Merck & Co., Inc. | Merck Chair, Vericiguat Product Development Team | Dec 2018–Sep 2022 | Guided Phase 3 VICTORIA to global approval (with Bayer) |
| Merck & Co., Inc. | Merck Chair, Merck‑Bayer sGC Joint Development Committee | Oct 2017–Jun 2023 | Oversight of JV cardiovascular program governance |
| Merck & Co., Inc. | Executive Director, Clinical Research, Cardiovascular | Sep 2014–Jan 2021 | Led CV clinical programs across multiple targets |
| Tufts Medical Center | Attending cardiologist; R01‑funded lab; Co‑Director, MD‑PhD MSTP | Pre‑Merck (years not disclosed) | Academic leadership, ion channel research |
| Training (BWH/MGH/Brandeis) | Residency (BWH), Cardiology fellowship (MGH), HHMI post‑doc (Brandeis) | — | CV medicine & translational research foundation |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Merck–Bayer Collaboration (sGC) | Merck Chair, Joint Development Committee | 2017–2023 | Cross‑company governance in CV program |
| Vericiguat Program | Merck Chair, Product Development Team | 2018–2022 | Led through Phase 3 VICTORIA and approval |
Fixed Compensation
- Base salary and target bonus for Dr. Blaustein were not individually disclosed in the latest proxy or 8‑Ks as of the dates reviewed. Edgewise discloses NEO pay (CEO, CMO, COO) and program design, but Blaustein was not an NEO for FY2024 .
Performance Compensation
- Executive annual bonus framework (companywide plan) includes goals in: Clinical Development, Regulatory, Financing, Business Development, and Personnel (illustrated for 2024 bonuses; Blaustein joined in 2025) .
- The Incentive Compensation Plan allows objective and discretionary adjustments; awards are generally cash, subject to employment through payment, with potential equity settlement at committee discretion .
| Metric (Illustrative company framework) | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Clinical Development Goals | Not disclosed | Committee‑set | Company met/exceeded most 2024 goals; NEO payouts at 130% (Blaustein not an FY2024 NEO) | Cash bonus; timing per plan |
| Regulatory Goals | Not disclosed | Committee‑set | Included in 2024 assessment | — |
| Financing | Not disclosed | Committee‑set | Included in 2024 assessment | — |
| Business Development | Not disclosed | Committee‑set | Included in 2024 assessment | — |
| Personnel | Not disclosed | Committee‑set | Included in 2024 assessment | — |
Clawback: Compensation Recovery Policy adopted Oct 2023 in line with SEC/Nasdaq rules .
Hedging/Pledging: Prohibited for directors and officers (limited exceptions require approvals) .
Equity Ownership & Alignment
| Instrument | Grant date | Quantity | Price/Valuation | Vesting | Expiration | Post‑grant holdings |
|---|---|---|---|---|---|---|
| RSUs | 08/12/2025 | 17,500 | — | 25% annually on 8/12 in 2026–2029, subject to service | — | 17,500 RSUs (direct) after grant |
| Stock Options | 08/12/2025 | 105,000 | $13.39 strike | 1/48 monthly beginning 09/12/2025, subject to service | 08/12/2035 | 105,000 options (direct) after grant |
Additional alignment and restrictions:
- Company policy prohibits hedging and pledging of company stock by officers; also bars transactions in derivatives on company securities (alignment positive; reduced liquidity flexibility) .
Vesting schedule and potential selling pressure:
- Options: Monthly vesting from 09/12/2025 (approx. 2,188 options per month), creating steady incremental vesting‑related liquidity over 48 months; exercise requires cash and implies market‑dependent incentive .
- RSUs: Annual vesting dates on or about 08/12/2026–2029 could create episodic settlement‑related supply once trading windows permit .
Employment Terms
Edgewise maintains an Executive Change in Control and Severance Plan (ERISA welfare plan) covering C‑suite officers such as the CDO (with individual participation agreements) .
| Scenario | Cash severance | Bonus | COBRA/health | Equity acceleration | Triggers/notes |
|---|---|---|---|---|---|
| Non‑CIC Qualifying Termination (C‑team) | 9 months base salary | — | 9 months (reimbursed or taxable lump sum) | Acceleration of portion of first new‑hire equity award equal to what would vest in 12 months | Requires separation release; plan administration per ERISA |
| CIC Qualifying Termination (C‑team) within CIC period | 12 months base salary | 100% of target annual bonus | 12 months | 100% acceleration; performance awards at 100% of target | CIC period: from 3 months before to 12 months after a CIC ; Good Reason materially defined |
| 280G excise mitigation | Best‑net cutback (no tax gross‑up) | — | — | Reduction order specified, reverse grant‑date order for equity if needed | — |
| CIC definition | >50% voting power change; Board turnover majority in 12 months; or ≥50% asset sale (with exclusions); must meet 409A CIC standard | — | — | — | — |
At‑will employment is company policy; individual offer letters (e.g., other executives) reiterate at‑will status and participation in the severance plan via a signed participation agreement .
Performance & Track Record
- Merck achievements: Led vericiguat through Phase 3 and global approval; chaired key JV committees (sGC collaboration with Bayer) and directed multiple CV programs, indicating deep late‑stage execution experience .
- Edgewise role: As CDO, publicly leads EDG‑7500 development strategy and dose‑optimization plans heading to Phase 3; he provides trial design commentary in investor events and 8‑K materials .
- Company performance framing: Pay‑versus‑performance table shows cumulative TSR of 307.34 in 2024 and 127.81 in 2023, with negative net income in both years .
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited by policy (reduces alignment risk from pledging) .
- Clawback: Policy adopted in 2023 (mitigates restatement or misconduct risk) .
- Option repricing/tax gross‑ups: No repricing noted; CIC plan uses best‑net cutback (no gross‑up) .
- Related‑party: No Blaustein‑specific related‑party transactions disclosed; related‑party policies are overseen by the Audit Committee .
Equity Ownership & Alignment (detail)
| Category | Detail |
|---|---|
| Beneficial ownership (post‑grant) | 17,500 RSUs and options for 105,000 shares (direct), granted 08/12/2025 |
| Options terms | $13.39 strike; 1/48 monthly vest from 09/12/2025; expire 08/12/2035 |
| RSU terms | 4 equal annual tranches starting 08/12/2026 |
| Ownership guidelines | Not disclosed; but hedging and pledging prohibited for officers |
Employment Terms (additional governance)
- Good Reason and Cause definitions, CIC period, eligibility, and Section 409A standards are codified in the plan; benefits require execution of a separation and release .
- Plan includes ERISA disclosures and administration details .
Investment Implications
- Alignment and retention: Equity‑heavy new‑hire package with four‑year RSUs and four‑year monthly option vesting creates multi‑year retention hooks; policy bans on hedging/pledging and a 2023 clawback enhance governance quality .
- Selling pressure: Expect steady, modest monthly option vesting‑related capacity and larger annual RSU settlements around mid‑August 2026–2029, subject to trading windows and tax withholding mechanics .
- Change‑of‑control economics: Standard biotech C‑suite terms (1x salary + 1x target bonus and full equity acceleration on double‑trigger CIC; 9‑month cash outside CIC) are competitive without shareholder‑unfriendly gross‑ups; this balances retention with transaction alignment .
- Execution capability: Blaustein’s late‑phase CV track record (vericiguat approval) is directly relevant to Edgewise’s EDG‑7500 Phase 3 trajectory, potentially improving probability of execution on trial design and regulatory strategy .