Jun Yoon
About Jun Yoon
Jun Yoon, 47, is Chief Financial Officer of Structure Therapeutics (GPCR) since May 2022, after serving as co‑founder and Chief Operating Officer (Feb 2019–May 2022). He holds a B.A. in Molecular Cell Biology from UC Berkeley and previously served as director of the GPCR Consortium . Company performance over his tenure shows cumulative TSR of 156.77 for 2023 and 104.31 for 2024, with net losses of $89.6 million (2023) and $122.5 million (2024) per the SEC “pay versus performance” disclosure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Structure Therapeutics | Co‑founder & Chief Operating Officer | 2019–2022 | Built operating foundation pre‑IPO and early pipeline scale‑up |
| Cellerant Therapeutics | VP, Corporate Development | 2010–2016 | Led BD for immunotherapy pipeline in hematologic malignancies |
| VIA Pharmaceuticals | Sr. Director, Licensing & BD | 2004–2010 | Cardiovascular licensing and partnerships |
| Sagres Discovery | Business Development | pre‑2004 | BD until acquisition by Chiron in 2004 |
| Syrrx, Inc. | Business Development | 2000–2002 | Structure‑based discovery BD; company acquired by Takeda |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| GPCR Consortium | Director | Prior to 2024 | Public‑private collaboration advancing GPCR research |
Fixed Compensation
| Component | 2023 Value | Notes |
|---|---|---|
| Base Salary ($) | $445,200 | Increased from $400,000 effective Feb 2, 2023 |
| Target Bonus (%) | 40% of base | Set Feb 2, 2023 |
| Actual Cash Bonus ($) | $173,183 | Based on corporate goals achieved at 93% plus individual goals weighting |
Performance Compensation
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Annual Bonus Design (2023)
- Weighting: 90% corporate, 10% individual for CFO
- Corporate Achievement: 93% overall (approved Jan 2024)
- Payout: $173,183 cash to CFO
-
Long‑Term Equity Awards (CFO)
Award Type Grant Date Size Strike/Value Vesting Notes Stock Options Feb 2, 2023 750,000 ordinary shares $5.00 per share 25% on Feb 2, 2024; remainder monthly over 36 months 4‑year schedule; in‑the‑money if ordinary share price >$5 (ADS >$15 given 3 ordinary per ADS) Stock Options Sept 23, 2021 100,000 ordinary shares (56,238 ex., 43,762 unex.) $1.21 per share 48 monthly installments Outstanding as of 12/31/2023 Stock Options Jan 22, 2020 100,000 ordinary shares $0.39 per share 25% on May 1, 2020; remainder monthly over 36 months Outstanding as of 12/31/2023 -
PSU/RSU Program (Company context, not CFO): In 2024 the company introduced RSUs and PSUs for NEOs with three equally weighted goals and a 15‑month performance period ending June 30, 2025; half vests on certification, remaining half 18 months later . CFO was not a Named Executive Officer in 2024 disclosure; structure shown for program context .
Equity Ownership & Alignment
| Date | Total Beneficial Ownership (ordinary shares) | % Outstanding | Breakdown |
|---|---|---|---|
| Apr 19, 2024 | 3,038,775 | 2.17% | 1,065,464 direct; 1,554,586 Yoon Family Trust; 418,725 options exercisable within 60 days |
| Apr 17, 2025 | — | — | 1,063,664 direct; 1,554,586 Yoon Trust; 15,270 ordinary underlying ADSs; 677,497 options exercisable within 60 days (group footnote) |
- Hedging/Pledging: Company prohibits hedging and pledging by directors and officers; no margin accounts allowed, strengthening alignment .
- Insider trading policy and clawback: Dodd‑Frank compliant recoupment policy implemented; CEO/CFO subject to SOX 304 reimbursement upon misconduct‑related restatement .
Employment Terms
| Provision | Terms (CFO) | Source |
|---|---|---|
| Employment Agreement | Executive employment agreement (2019; amended 2022); at‑will; eligible for annual bonus | |
| Severance (Regular Termination) | Lump sum of 12 months base salary; COBRA up to 12 months; partial acceleration of time‑vesting equity (12 months) | |
| Severance (Change‑in‑Control Termination) | Lump sum of 12 months base salary; 100% of annual target bonus; COBRA up to 12 months; full acceleration of time‑vesting equity; PSUs deemed at target unless otherwise specified | |
| Non‑compete / Non‑solicit | Standard restrictions in agreements; enforceability may be limited under applicable law |
Governance and Committees (relevant to compensation administration)
- Equity Grant Committee: Delegated authority (since June 2023) to CEO and CFO (acting together or separately) to grant stock options/RSUs to non‑executive employees under the 2023 Plan within limits; exercised authority over 1,616,724 ordinary share options in 2024 .
- Compensation Peer Group: Used Aon review; peer set of Phase 2 pre‑commercial biopharma with ~$0.8–$7B market caps (e.g., ETNB, AKRO, ARWR, BHVN, CRNX, DNLI, IDYA, MDGL, PCVX, RCUS, RAPT, RVMD, VTYX, etc.) .
- Say‑on‑Pay & Frequency: Advisory vote scheduled for 2025 AGM along with frequency vote (Board recommends 1 year) .
Risk Indicators & Red Flags
- Internal Controls: Material weaknesses disclosed for 2023 and through June 30, 2024 (control environment, segregation of duties, IT general controls) during the auditor transition from PwC to EY .
- Related Party Agreements: CFO is party to legacy investor rights agreements (terminated at IPO except registration rights) alongside other executives/directors .
- Hedging/Pledging ban: Alignment positive signal; reduces collateralization risk .
Vesting Schedules and Potential Selling Pressure
- The 2023 CFO option grant (750,000 ordinary shares at $5.00) vested 25% on Feb 2, 2024 with monthly vesting thereafter, increasing exercisable options from 418,725 (as of Apr 19, 2024) to 677,497 (exercisable within 60 days as of Apr 17, 2025, per group footnote), which can create incremental supply if exercised and sold. Options are in‑the‑money if ordinary share price exceeds $5 (ADS >$15), potentially increasing monetization incentives .
Compensation Structure Analysis
- Cash vs. Equity Mix: 2023 compensation for CFO was equity‑heavy (option grant fair value $3.05M vs. $445k salary and $173k bonus), indicating high at‑risk pay tied to share price appreciation .
- Performance Metrics: Bonus tied to corporate milestones (93% achievement) plus individual goals; no evidence of discretionary overrides beyond disclosed methodology .
- Equity Instruments: Shift at company level to include RSUs/PSUs in 2024 for NEOs increases certainty of value and retention; CFO’s disclosed awards are options (higher risk‑reward) .
Investment Implications
- Ownership alignment: Material personal stake (2.17% as of Apr 2024) and significant in‑the‑money options align CFO with shareholders; hedging/pledging prohibitions reduce misalignment risk .
- Overhang/flow dynamics: Ongoing monthly vesting of 2023 option grant adds potential sellable supply; monitor Form 4 filings for exercise/sales cadence around blackout windows to gauge pressure. The $5.00 strike (ADS equivalent $15.00) sets a clear monetization threshold .
- Retention/COC protection: Severance terms (12 months base; 100% target bonus; full equity acceleration on COC termination) mitigate retention risk during strategic inflection points, but increase transaction‑related dilution/overhang if accelerated .
- Execution and controls: Prior internal control weaknesses through mid‑2024 warrant continued monitoring of remediation under CFO oversight; governance steps (clawback, tightened insider policies) are positives .