Tyler Korman
About Tyler Korman
Tyler Korman, PhD (age 46), is Vice President of Research at eXoZymes Inc. (EXOZ), serving in this role since February 1, 2024; he previously served as Director of Research & Development from August 2019 to January 2024 and was a Project Scientist at UCLA’s Department of Chemistry & Biochemistry from 2014 to 2019 . Dr. Korman holds a PhD in Molecular Biology & Biochemistry from UC Irvine (2008) and MS (2003) and BS (2001) in Chemistry from UC San Diego . Recent filings do not disclose executive-specific TSR, revenue growth, or EBITDA growth metrics attributable to Korman; the company’s bonus program for NEOs is discretionary rather than tied to fixed formulaic performance metrics .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| eXoZymes Inc. | Director of Research & Development | Aug 2019 – Jan 2024 | Not disclosed |
| UCLA, Dept. of Chemistry & Biochemistry | Project Scientist | 2014 – 2019 | Not disclosed |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 165,000 | 191,220 |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual Incentive Bonus | Discretionary; no fixed formula disclosed | Not disclosed | Not disclosed | $0 (2023) ; $54,450 (2024) | n/a |
| Option Awards (Grant-date FV) | n/a | n/a | n/a | $20,276 (2023) ; $20,279 (2024) | Options vest over time based on continued service |
| RSU/Stock Awards (Grant-date FV) | n/a | n/a | n/a | $75,191 (2023) ; $0 (2024) | All RSUs were fully vested as of 12/31/2024 ; conversion to shares at lockup expiration on 11/11/2025 |
Equity Award Detail
| Grant Date | Type | Shares/Units | Exercise Price ($) | Expiration | Status as of 12/31/2024 |
|---|---|---|---|---|---|
| 2/1/2021 | Stock Option | 41,552 total; 32,549 exercisable; 9,003 unexercisable | 2.44 | 1/31/2028 | Time-based vesting; continued service required |
| 3/28/2022 | RSU/Stock Award | 56,456 | n/a | n/a | Fully vested; converts to shares at 11/11/2025 lockup expiration |
| 5/1/2023 | RSU/Stock Award | 22,648 | n/a | n/a | Fully vested; converts to shares at 11/11/2025 lockup expiration |
Equity Ownership & Alignment
| As-of Date | Beneficial Ownership (Shares) | % of Class | Notes |
|---|---|---|---|
| March 31, 2025 | 756,928 | 9.01% | Based on 8,367,810 shares outstanding |
| June 9, 2025 | 761,303 | 9.04% | Based on 8,367,810–8,387,250 shares outstanding per table footnotes |
| Dec 31, 2024 (Options) | 32,549 exercisable; 9,003 unexercisable | n/a | Exercise price $2.44; expiration 1/31/2028 |
| Dec 31, 2024 (RSUs) | 56,456; 22,648 fully vested | n/a | Converts to shares upon lockup expiration 11/11/2025 |
- Insider Trading Policy: Insiders must pre-clear trades, are subject to blackouts, prohibited from short sales and from buying/selling puts or calls; six-month short-swing restrictions are enforced . The company disclosed no adoption/termination of Rule 10b5-1 plans during the last fiscal quarter of FY 2024 .
Employment Terms
- Role & Tenure: Vice President of Research since February 1, 2024; previously Director of R&D (Aug 2019–Jan 2024) .
- Clawback Policy: Company will recover “excess” incentive compensation (cash/equity) based on financial reporting measures in the event of an accounting restatement; applies to current/former executive officers for the prior three fiscal years, regardless of misconduct .
- Indemnification: Company provides indemnification and has indemnification agreements for executive officers, including advancement of expenses subject to undertakings and limitations .
- Equity Plans: 2020 Equity Incentive Award Plan in effect through FY 2024; as of 12/31/2024, all employee RSUs were fully vested and set to convert at lockup expiration on November 11, 2025 . A new 2025 Equity Incentive Plan reserves up to 1,250,000 shares and permits options, RSUs, SARs, and performance awards; definitions for Cause and Change in Control are included .
- Compensation Governance: Compensation Committee (Lon Bell, James Bowie, James Lalonde) oversees executive pay; philosophy emphasizes competitive total compensation and heavier weighting toward equity, periodically reassessed based on financial condition and cash resources .
Investment Implications
- Alignment via Ownership: Korman’s ~9% beneficial ownership indicates strong alignment; high insider ownership can reduce free float and increase sensitivity to insider actions .
- Potential Selling Pressure: Fully vested RSUs convert to common shares at lockup expiration on November 11, 2025, a supply overhang event that may create selling pressure or increased liquidity around that date .
- Option Exercise Timeline: Options with $2.44 strike expiring 1/31/2028 present a multi-year exercise window; monitor incremental exercises and associated sales for signals around liquidity needs or confidence .
- Pay-for-Performance Signal Quality: Annual bonuses for NEOs are discretionary without disclosed formulaic KPIs for Korman, reducing transparency of pay-performance alignment; equity-heavy philosophy partially offsets by linking long-term value to share price .
- Trading Policies: Strict prohibitions on shorts and derivatives, pre-clearance requirements, and blackouts mitigate opportunistic trading; absence of 10b5-1 plan adoption in last fiscal quarter of FY 2024 suggests trades, if any, may be more event-driven than pre-scheduled .