Jacob Chacko
About Jacob Chacko
Jacob Chacko, M.D., MBA, age 46, has served as an independent director of 4D Molecular Therapeutics (FDMT) since March 2019. He is the Chair of the Audit Committee and a member of the Nominating & Corporate Governance Committee; the Board has determined he is independent under Nasdaq rules and an “audit committee financial expert.” He is currently CEO of ORIC Pharmaceuticals (since May 2018), and previously served as CFO of Ignyta, investor at TPG Capital, and consultant at McKinsey; he earned an M.D. (UCLA), MBA (Harvard), and M.Sc. (Oxford, Marshall Scholar). His attendance met the company’s minimum standard (each director attended at least 75% of Board/committee meetings in 2024), and independent directors meet in regular executive sessions.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ORIC Pharmaceuticals, Inc. | Chief Executive Officer | May 2018–present | Public biotech operator; operational and capital allocation experience |
| Ignyta, Inc. | Chief Financial Officer | May 2014–Feb 2018 | Took company through sale to Roche; public markets/M&A experience |
| TPG Capital | Investor | Aug 2008–May 2014 | Life sciences investing background |
| McKinsey & Company | Consultant (Healthcare) | 2002–2003 | Strategy/operations exposure |
External Roles
| Organization | Role | Tenure | Notes/Committees |
|---|---|---|---|
| Bright Peak Therapeutics | Chairman of the Board | Nov 2021–present | Oncology company (private) |
| Turning Point Therapeutics, Inc. | Director | Nov 2018–Mar 2021 | Public biotech (acquired) |
| RentPath Inc. | Director | 2011–2014 | Digital media |
| Envision Pharmaceutical Services, LLC | Director | 2013–2014 | PBM/healthcare services |
| Bonti, Inc. | Director | Feb 2018–Oct 2018 | Biotech |
| Packard Children’s Health Alliance (LPCH Stanford) | Director | 2013–Jun 2017 | Non-profit healthcare |
| Marshall Scholarship | Western Regional Selection Committee Chair | Current | Academic governance |
Board Governance
- Board class: Class II director; nominee in 2025 to serve through 2028, originally joined in 2019. Independent under Nasdaq; Board majority independent (all except CEO).
- Committees and roles:
- Audit Committee: Chair; determined to be financially literate and an “audit committee financial expert.”
- Nominating & Corporate Governance Committee: Member.
- Attendance: Board met 7x in 2024; Audit 5x; Nominating 3x; company states each director attended at least 75% of meetings of Board/committees served in 2024.
- Independent director executive sessions occur regularly.
- Hedging prohibited for directors (and officers/employees).
- Related party transactions: None disclosed involving Dr. Chacko; related-party items in 2023–2024 involved other individuals/entities.
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Annual cash retainer | $40,000 |
| Audit Committee Chair fee | $20,000 |
| Nominating & Corporate Governance Committee member fee | $5,000 |
| Total cash actually earned (Chacko) | $65,000 |
Notes:
- Cash fees paid quarterly in arrears.
Performance Compensation
| Equity Component | 2024 Grant Policy | 2024 Value/Grants | Vesting | Change-in-Control |
|---|---|---|---|---|
| Annual stock option (non-employee director) | 22,500 options automatically at annual meeting (Exec Chair different) | Chacko option award grant-date fair value: $417,236 | 33.3% on 1st anniversary; thereafter 1/36 monthly; service-based | Unvested director options accelerate in full upon a change in control |
Additional context:
- Chacko’s aggregate option awards outstanding at 12/31/2024: 145,000 options (exercisable and unexercisable total).
Other Directorships & Interlocks
- Current public company executive role: CEO, ORIC Pharmaceuticals (public). No FDMT-disclosed supplier/customer/competitor interlocks tied to Dr. Chacko.
- Prior public company board roles include Turning Point Therapeutics (public; exited 2021).
- No Compensation Committee interlocks: FDMT discloses none among committee members and other issuers’ executives. Dr. Chacko is not on FDMT’s Compensation Committee.
Expertise & Qualifications
- Professional: CEO/operator, former public-company CFO, private equity investor; significant finance and capital markets background.
- Education: M.D. (UCLA), MBA (Harvard Business School), M.Sc. (Oxford, Marshall Scholar).
- Governance: Audit Committee Chair; “audit committee financial expert” with financial sophistication designation.
Equity Ownership
| Measure | Amount/Status |
|---|---|
| Beneficial ownership (includes options exercisable within 60 days) | 122,500 shares; <1% of outstanding |
| Options exercisable within 60 days (included above) | 122,500 |
| Total option awards outstanding (exercisable + unexercisable) at 12/31/2024 | 145,000 |
| Unexercisable (derived: 145,000 – 122,500) | 22,500 (derived from and ) |
| Shares pledged as collateral | Not disclosed; hedging prohibited by policy |
Reference base: 46,324,642 shares outstanding as of April 21, 2025 (table reports “<1%” for his ownership).
Governance Assessment
-
Strengths
- Independent director with deep finance and operating experience; serves as Audit Committee Chair and designated “audit committee financial expert,” supporting robust financial oversight.
- Attendance met company thresholds; independent directors hold executive sessions.
- Director pay structure leans toward at-risk equity (time-based options), aligning with shareholder outcomes; no hedging allowed.
- No related-party transactions disclosed involving Dr. Chacko.
-
Watch items
- External CEO role (ORIC) implies meaningful time commitments; however, attendance met expectations in 2024. Monitor ongoing capacity given Audit Chair responsibilities.
- Director options accelerate on change-in-control (typical, but can reduce retention incentives during transactions).
-
RED FLAGS
- None identified specific to Dr. Chacko (no related-party dealings, no Section 16 delinquencies noted for him, no hedging).