Hamid Khoja
About Hamid Khoja
Hamid Khoja, Ph.D., is FibroBiologics’ Chief Scientific Officer (CSO) since August 2021; he is 57 and holds a B.S. in Molecular Biology from USC and a Ph.D. in Molecular Biology from Boston University . His 2024 bonus was tied to R&D execution objectives (manufacturing process, clinical prep, pre-clinical studies, regulatory filings), not to TSR, revenue or EBITDA; he achieved 78% of personal objectives and 60% of stretch goals, resulting in a $150,000 cash incentive for 2024 . The company’s clawback and anti-hedging policies apply to executive incentives and prohibit pledging or hedging of company stock .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Covaris, LLC | Principal Scientist | Mar 2009–Aug 2021 | Led adoption of Covaris tech in Illumina NGS protocols (>15,000 citations); developed ChIP methodology (>3,000 citations); NCI collaborations; synthetic cfDNA workflow . |
| Genomic Solutions | Senior Applications Scientist | Mar 2002–Mar 2009 | Developed high-throughput protein crystallization platform; managed applications; scouted technologies . |
| Sequenom, Inc. | Scientist | Jan 2000–Mar 2003 | Established multiplexed PCR for massEXTEND; built diagnostic MS assays (hemochromatosis, CF, genetic diseases) . |
| Eli Lilly and Company | Scientist | Nov 1998–Sep 1999 | High-throughput PCR/sequencing enabling first complete S. pneumoniae genome sequence . |
| Chiron Corporation | Scientist | Oct 1995–Oct 1998 | Developed HTP binding assays (FGFR, VEGF, PDGF, EPO); identified GPCRs and TNF pathway proteins . |
External Roles
No public company directorships or disclosed external governance roles for Khoja .
Fixed Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Base Salary ($) | 325,000 | 325,000 |
| Target Bonus % of Salary | 35% | 35% |
| Actual Cash Bonus Paid ($) | 113,750 (paid in 2024 for 2023 performance) | 150,000 (paid in 2025 for 2024 performance) |
| All Other Compensation ($) | 50,908 (healthcare) | 36,751 (healthcare) |
| Total Compensation ($) | 1,307,758 | 853,646 |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting/Notes |
|---|---|---|---|---|---|
| 2024 Personal Objectives (manufacturing, clinical prep, pre-clinical, regulatory) | Not disclosed | 35% of salary ($113,750) | 78% achievement | Included in $150,000 total non-equity incentive | Annual cash, paid in 2025 . |
| 2024 Stretch Goals (R&D, BD, financings) | Additional 50% of bonus opportunity | Not applicable | 60% achievement | Included in $150,000 total non-equity incentive | Annual cash . |
The company engages Anderson Pay Advisors as compensation consultant and uses competitive assessments and equity grant guidelines; no specific peer group targets (e.g., 75th percentile) are disclosed .
Equity Ownership & Alignment
| Metric | As of Jul 1, 2024 | As of Dec 31, 2024 | As of Apr 21, 2025 |
|---|---|---|---|
| Common Shares Owned | 1,250 | 11,250 | 11,250 |
| Vested Stock Options | 196,875 | 225,281 (7,500 + 217,781) | 282,093 |
| Unvested Stock Options | 454,500 (2023 grant, as of 12/31/23) | 412,919 (236,719 from 2023; 176,200 from 2024) | Not disclosed |
| Ownership % of Common Stock | <1% | <1% | <1% |
| Anti-Hedging/Pledging Policy | Hedging and pledging prohibited | Hedging and pledging prohibited | Hedging and pledging prohibited |
Upcoming vesting and potential selling pressure:
- 176,200 options granted Dec 27, 2024 at $2.36; 1/4 vests Dec 27, 2025, remainder monthly over 36 months, creating a continuous vest schedule through 2028 . Insider trading policy governs sale windows; no hedging or pledging permitted .
- 2023 grant continues monthly vesting through end-2026 from a 1/4 cliff at Jan 1, 2024 .
Employment Terms
| Term | Detail |
|---|---|
| Employment Agreement | Dated July 20, 2021; “at-will” . |
| Base Salary | Initial $290,000; increased to $325,000 in 2022 . |
| Target Annual Bonus | Up to 35% of base salary; based on company/individual goals . |
| Sign-on/Relocation | $15,000 sign-on bonus; up to $45,000 relocation . |
| Severance | If terminated without cause: nine months’ base salary . |
| Change-of-Control Equity Acceleration | 2022 options accelerate in full upon change-in-control (single-trigger for that award) . |
| Vesting Schedules | 2022: 1/3 at 1st anniversary, then 1/36 monthly ; 2023: 1/4 on Jan 1, 2024 then monthly ; 2024: 1/4 on Dec 27, 2025 then monthly . |
| Options—Strike/Expiry (Dec 31, 2024) | 7,500 at $3.28 expiring Sep 25, 2032; 217,781/236,719 (exercisable/unexercisable) at $2.28 expiring Feb 16, 2033; 176,200 unexercisable at $2.36 expiring Dec 26, 2034 . |
| IP/Restrictive Covenants | Proprietary inventions assignment; non-solicit of employees/consultants for one year post-termination . |
| Clawback | Nasdaq/Exchange Act Section 10D-compliant recoupment policy for erroneously awarded incentive comp upon restatement . |
| Insider Trading | Policy in place; anti-hedging and anti-pledging . |
Equity Awards Detail
| Grant Year | Grant Size | Exercise Price | First Vest Date | Vest Pattern | Expiration | Change-of-Control |
|---|---|---|---|---|---|---|
| 2022 (hire) | 7,500 | $3.28 | 1st anniversary of hire | 1/3 then 1/36 monthly | Sep 25, 2032 | Accelerates in full (single-trigger) . |
| 2023 (annual) | 454,500 | $2.28 | Jan 1, 2024 | 1/4 then monthly over 36 months | Feb 16, 2033 | Not specifically disclosed. |
| 2024 (annual) | 176,200 | $2.36 | Dec 27, 2025 | 1/4 then monthly over 36 months | Dec 26, 2034 | Not specifically disclosed. |
Governance and Related Signals
- Compensation committee independence and oversight; consultant engaged; equity plan administration and grant timing disclosures (no MNPI timing) .
- Delinquent Section 16(a) reports: late Form 3 filings in 2024 due to administrative errors (including Khoja) .
- Anti-takeover voting structure is primarily via Series C super-voting owned by CEO; not directly related to Khoja but influences control context .
Investment Implications
- Alignment: Khoja’s low direct shareholdings (<1%) are offset by substantial, multi-year options exposure with staggered vesting to 2028, aligning incentives to share price appreciation over time; hedging/pledging prohibited, reducing misalignment risks .
- Retention risk: At-will employment but with nine months’ salary severance and meaningful unvested equity suggests moderate retention risk; the 2024 grant’s 1/4 cliff in Dec 2025 is a near-term retention anchor .
- Trading signals: No Form 4 selling disclosed here; expected vesting blocks (Dec 27, 2025 and monthly thereafter) may create periodic liquidity events subject to trading windows and policy, but anti-hedging/pledging limits leverage or pre-sold strategies .
- Change-of-control: Single-trigger acceleration on the 2022 award could increase realized value in an M&A scenario; later awards’ acceleration terms are not explicitly disclosed, limiting visibility on full COC economics .