Ramiro Ribeiro
EyePoint PharmaceuticalsAbout Ramiro Ribeiro
Ramiro Ribeiro, M.D., Ph.D., is EyePoint’s Chief Medical Officer, serving since March 1, 2024; he is 42 years old . He previously led Apellis’s ophthalmology clinical development, including the global Phase 3 GA program culminating in NDA submission and FDA approval of SYFOVRE; earlier roles include leadership positions at Acucela, Ophthotech (Iveric Bio), Alcon, Replenish, and 1Co, and he trained/practiced as a retinal specialist; he holds an M.D. from Pontifical Catholic University and a Ph.D. in stem cell therapy for retinal degenerative diseases from Federal University of São Paulo, and was a research fellow at USC . In 2024, EyePoint’s corporate performance score was 123% and Ribeiro’s individual score was 138%, which drove his annual incentive payout; he received $276,359 in non‑equity incentive compensation for 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Apellis Pharmaceuticals (NASDAQ: APLS) | Vice President & Head of Clinical Development (Ophthalmology) | 2018–Mar 2024 | Led global Phase 3 GA program from protocol to NDA and FDA approval of SYFOVRE |
| Acucela Inc. | Senior Medical Director & Head of Digital Health | — | Led multiple retina programs |
| Ophthotech (Iveric Bio) | Leadership roles | — | Retina program leadership |
| Alcon (NYSE: ALC) | Leadership roles | — | Ophthalmic program leadership |
| Replenish, Inc.; 1Co Inc. | Leadership roles | — | Early-stage and device/health roles |
| Clinical practice | Retinal specialist | — | Applied clinical expertise to development |
External Roles
No public-company board or external governance roles disclosed in EyePoint’s proxy biographies for Ribeiro .
Fixed Compensation
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Base Salary (Annual Rate) ($) | — | 485,000 | 511,675 (effective Apr 1, 2025; +5.5%) |
| Salary Paid ($) | — | 404,167 | — |
| Target Bonus (% of Base) | — | 45% | — |
| Non-Equity Incentive Plan Compensation ($) | — | 276,359 | — |
| Sign-on Bonus ($) | — | 60,000 | — |
| Perquisites (summary) | — | Group term life and LTD; supplemental LTD eligibility; standard employee benefits | — |
Performance Compensation
Annual Cash Incentive (2024)
| Metric | 2024 |
|---|---|
| Target Bonus (% of Base) | 45% |
| Bonus Weighting | 75% corporate / 25% individual |
| Corporate Performance Score | 123% |
| Individual Performance Score | 138% |
| Non-Equity Incentive Paid ($) | 276,359 |
| Sign-on Bonus ($) | 60,000 |
| Corporate Goal Themes | Wet AMD pivotal trial advancement; technology/manufacturing thresholds |
Equity Awards and Vesting
| Grant Date | Instrument | Shares | Exercise Price ($) | Expiration | Vesting Schedule | Notes |
|---|---|---|---|---|---|---|
| Mar 1, 2024 | Stock Options | 125,000 | 28.00 | Mar 1, 2034 | 25% on first anniversary; remainder vests monthly through Mar 1, 2028 | First 31,250 options vest Mar 1, 2025; then monthly thereafter |
| Jan 3, 2025 | Stock Options | 104,000 | 8.26 | — | 25% after one year; remainder vests monthly over 36 months | First 26,000 options vest Jan 3, 2026 |
| Jan 3, 2025 | RSUs | 52,000 | — | — | Pro rata annual vesting over 3 years | Aligns retention; equity vehicle mix RSUs+options |
Equity Ownership & Alignment
| As-of Date | Shares Beneficially Owned | % of Shares Outstanding | Shares Acquirable Within 60 Days | Hedging/Pledging Policy | Ownership Guidelines | Compliance Status |
|---|---|---|---|---|---|---|
| Apr 23, 2025 | 41,784 | <1% | 39,062 | Prohibits short sales, derivatives, hedging/monetization, and pledging/margin accounts | 1x base salary for executive officers | In compliance; deadline Mar 1, 2029 |
Employment Terms
| Scenario | Cash Severance | Bonus Treatment | COBRA | Equity Treatment | Payment Form | Restrictive Covenants / Conditions |
|---|---|---|---|---|---|---|
| Termination without Cause or for Good Cause | 12 months base salary | 100% of target bonus for year of termination, pro-rated; plus 100% of target bonus paid over salary continuation period | Company-paid portion of health premiums until end of salary continuation or COBRA ineligibility | Unvested awards that would have vested by first anniversary vest at termination; options exercisable up to 3 months post-termination (or option term end) | Salary/bonus in equal installments during salary continuation | 12‑month non‑compete and non‑solicits; execution/non‑revocation of separation agreement with general release |
| Change of Control + termination (60 days before to 18 months after) | 18 months base salary | 100% of target bonus for year of termination, pro‑rated; plus 150% of target bonus | Company-paid portion of health premiums for up to 18 months or COBRA ineligibility | Immediate full acceleration/vesting of all outstanding equity (or at CoC if later); options exercisable up to 3 months post-termination (or option term end) | Lump sum for salary and bonuses | Same restrictive covenants and release condition |
Performance & Track Record
- As Apellis’s Head of Clinical Development in ophthalmology, Ribeiro led the GA Phase 3 program through FDA approval of SYFOVRE, evidencing end‑to‑end development execution capability .
- As EyePoint CMO, he publicly articulated Phase 2 VERONA data for DURAVYU in DME, highlighting significant visual and anatomical improvements and confidence to progress into Phase 3, consistent with advancing pipeline milestones tied to corporate goal achievement in 2024 .
Compensation Structure Analysis
- Mix emphasizes at‑risk pay via annual bonus and multi‑year equity (RSUs vesting over three years; options over four years), aligning with long‑term shareholder outcomes and retention .
- 2024 corporate goals achieved at 123% and individual at 138% drove payout; objectives centered on pivotal trial advancement and manufacturing/tech thresholds, suggesting rigorous operational targets linked to clinical execution .
- Company maintains clawback policy compliant with Exchange Act Rule 10D‑1, enabling recoupment of excess incentive‑based compensation after restatements, strengthening pay‑for‑performance governance .
Related Party Transactions, Hedging/Pledging, and Policies
- Hedging, derivative trading, short sales, and pledging/margin use of EyePoint stock are prohibited for executives and insiders, reducing misalignment and leverage risk .
- Stock ownership guidelines require Ribeiro to achieve at least 1x base salary in company stock within five years; he is currently in compliance, with a deadline of March 1, 2029 .
- No related‑party transactions disclosed involving Ribeiro in the proxy materials reviewed .
Vesting Schedules and Potential Insider Selling Pressure
- Upcoming cliffs: 31,250 options from the Mar 1, 2024 grant vest on Mar 1, 2025; the remaining 93,750 vest monthly through Mar 1, 2028, creating a steady stream of potential option-based liquidity thereafter . For the Jan 3, 2025 grant, 26,000 options vest on Jan 3, 2026 with monthly vesting thereafter for 78,000 over the following 36 months .
- RSUs: 52,000 granted Jan 3, 2025 vest pro rata annually over three years, adding periodic share delivery and potential selling capacity tied to vest dates .
- Note: Insider trading windows and prohibitions on hedging/pledging remain in force; any dispositions would be subject to company trading policy and regulatory constraints .
Equity Ownership & Options Detail (Year‑End 2024)
| Instrument | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration |
|---|---|---|---|---|
| Options (aggregate) | — | 125,000 | 28.00 | 03/01/2034 |
Employment Start and Tenure
- Appointed CMO on March 1, 2024, under an employment agreement providing base salary, discretionary annual cash bonus tied to corporate and individual goals, discretionary equity incentives, and severance protections .
Investment Implications
- Alignment: Strong linkage of annual bonus to corporate clinical and manufacturing milestones and multi‑year equity vesting supports alignment with long‑term value creation; governance is bolstered by robust clawback, prohibition on hedging/pledging, and ownership guidelines .
- Retention risk: Material unvested equity through 2028 and ownership guideline compliance reduce near‑term departure risk; change‑of‑control acceleration introduces event‑driven optionality and retention economics typical for C‑suite leaders .
- Trading signals: Anticipated vest cliffs (Mar 2025, Jan 2026) and ongoing monthly vesting create potential for periodic insider sales; however, policy constraints and window controls may temper immediate selling pressure .
- Execution credibility: Prior FDA approval track record at Apellis and public articulation of EyePoint’s Phase 2 data support confidence in trial execution—key to EyePoint’s value inflection tied to pivotal programs and 2024 corporate goal over‑achievement .