Glenn Sblendorio
AMICUS THERAPEUTICSAbout Glenn P. Sblendorio
Independent director of Amicus Therapeutics (FOLD) since June 2006; age 69. Former CEO and director of IVERIC bio (2017–2023) and prior senior finance executive roles at The Medicines Company and Eyetech Pharmaceuticals. Holds a B.B.A. from Pace University, an M.B.A. from Fairleigh Dickinson University, and completed the Harvard Advanced Management Program. Serves as Amicus’s Audit and Compliance Committee Chair and is designated the audit committee financial expert; also a member of the Compensation and Leadership Development Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| IVERIC bio (Nasdaq: ISEE), formerly Ophthotech | Chief Executive Officer; Director | Jul 2017 – 2023 (acquired by Astellas) | Led company through acquisition; biopharma leadership |
| The Medicines Company (Nasdaq: MDCO) | President & Chief Financial Officer | Mar 2006 – Mar 2016 | Financial leadership in commercial-stage pharma |
| The Medicines Company (Nasdaq: MDCO) | Director | Jul 2011 – Dec 31, 2015 | Board governance experience |
| Eyetech Pharmaceuticals | EVP & Chief Financial Officer | Feb 2002 – Nov 2005 (acquired by OSI) | Transactional and finance leadership |
| MPM Capital Advisors | Managing Director | 1998 – 2000 | Life sciences investing experience |
External Roles
| Organization | Role | Status/Tenure | Notes |
|---|---|---|---|
| Mineralys Therapeutics (Nasdaq: MLYS) | Chair of the Board | Current | Public company chair role |
| Nanoscope Therapeutics (private) | Chairman | Current | Private company governance |
| Intercept Pharmaceuticals (Nasdaq: ICPT) | Director | Until Nov 2023 (acquisition) | Board service ended at acquisition |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Board determined Sblendorio is independent under Nasdaq rules |
| Board Class/Term | Class III nominee for re-election at 2025 Annual Meeting; term to 2028 if elected |
| Committee Assignments | Audit & Compliance Committee (Chair); Compensation & Leadership Development Committee (Member) |
| Attendance (2024) | Board met 6 times; committees met 22 times; Sblendorio attended 100% of Board and committee meetings among nominees up for election |
| Audit Committee Meetings (2024) | 5 meetings; Sblendorio is Chair and the Board’s “financial expert” under Item 407(d)(5) |
| Compensation Committee Meetings (2024) | 6 meetings; committee composed of independent directors; Pay Governance retained as independent consultant; no conflicts identified |
| Governance Practices | Corporate Governance Guidelines include majority independence, annual self-evaluation, limits on other boards; charters publicly available |
Fixed Compensation
| Component (2024) | Amount (USD) |
|---|---|
| Fees Earned or Paid in Cash | $90,000 |
Director Compensation Policy Rates (context for structure):
- Board member annual retainer: $50,000
- Audit & Compliance Committee Chair: $30,000 (inclusive of committee membership fee)
- Compensation Committee member: $10,000
Sblendorio’s 2024 cash fees are consistent with policy for a board member who chairs Audit and serves on Compensation .
Performance Compensation
| Equity Component (2024) | Amount (USD) | Vesting/Terms |
|---|---|---|
| Stock Awards (RSUs) | $121,667 | Annual director RSUs vest in full at next Annual Meeting (1-year) |
| Option Awards | $243,333 | Annual director options vest in full at next Annual Meeting; 10-year max term; strike at grant-date fair market value |
| Total Director Equity Granted (policy value) | $365,000 | Annual grant allocated 2/3 options, 1/3 RSUs; grant date is Annual Meeting |
Equity grant policy increased from $325,000 to $365,000 in 2024, reflecting higher equity-based director pay; newly appointed independent directors receive $500,000 initial grants with 4-year vesting (RSUs 25% annually; options 25% at year 1 then monthly over 3 years) .
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Compensation Committee Interlocks | None: 2024 members (Bleil, McGlynn, Roberts, Sblendorio) were not employees; no cross-compensation committee interlocks with Amicus executive officers |
Expertise & Qualifications
- Designated Audit Committee Financial Expert; possesses accounting/financial management expertise per Nasdaq rules .
- Significant corporate leadership and financing experience in global pharmaceuticals; devotes substantial time to Amicus matters including with management and auditors .
Equity Ownership
| Item | Value |
|---|---|
| Beneficial Ownership (as of Apr 12, 2025) | 359,820 shares; less than 1% of outstanding (307,923,069 shares outstanding) |
| Stock Options Outstanding | 257,670 total; 215,203 vested / 42,467 unvested |
| Ownership Guidelines | Directors must hold stock equal to 3× annual retainer; all directors have met or are on track; options and unearned awards excluded from compliance calculation |
| Hedging/Pledging Policy | Directors prohibited from hedging, short sales, transacting in publicly traded options on company stock, and pledging/margin accounts |
Governance Assessment
- Strengths: Long-tenured independent director (since 2006) with deep finance and pharma operating roles; serves as Audit Chair and SEC-defined financial expert; 100% attendance in 2024; robust ownership alignment policies and anti-hedging/pledging restrictions .
- Incentive alignment: Director equity tilted toward options (2/3 options, 1/3 RSUs), vesting aligned to next Annual Meeting, reinforcing near-term accountability while preserving longer-term option exposure; cash fees structure aligns with committee leadership responsibilities .
- Conflicts/interlocks: No compensation committee interlocks disclosed; no related-party transactions disclosed in proxy; multiple external boards in biopharma, but board guidelines include limits on other board service to manage overboarding risk .
- Signals for investors: Elevated equity grant value in 2024 suggests competitive director pay but remains structured as at-risk equity; Audit Committee activity (five meetings) and his financial expert designation support confidence in financial oversight during commercialization and geographic expansion phases .
RED FLAGS: None disclosed in proxy regarding attendance, hedging/pledging, compensation interlocks, or related-party transactions .