Yingli Ma
About Yingli Ma
Yingli Ma, Ph.D., age 51, is Chief Technology Officer (CTO) of Structure Therapeutics (GPCR) since August 2022. She previously led structural biology and discovery modalities at Amgen and GSK, and completed a Ph.D. in Biochemistry and Molecular Biophysics (University of Pennsylvania) plus a postdoc at Rockefeller University . Company performance context during her tenure: cumulative TSR from IPO baseline shows $100 invested equated to $156.77 in 2023 and $104.31 in 2024, with net losses of $89.6M and $122.5M respectively, reflecting clinical-stage investment and pipeline scaling .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Basecamp Bio (wholly-owned subsidiary) | General Manager & President | May 2021 – Aug 2022 | Led subsidiary operations prior to promotion to CTO, bridging platform tools and discovery execution |
| Amgen (Shanghai R&D) | General Manager, Biopharm R&D (Shanghai); Executive Director, Structural Biology & China Research Platforms; Director, Head of Discovery Modalities; Principal Scientist | 2014 – 2021 | Built structural biology and discovery modalities capabilities; led platform and site operations in Shanghai |
| GSK | Senior/Principal Scientist, Structural Chemistry Lead | 2009 – 2014 | Led structural chemistry initiatives supporting modality discovery |
Fixed Compensation
| Metric | 2022 | 2023 |
|---|---|---|
| Base Salary (RMB; USD) | RMB 2,533,680; $376,544 | RMB 2,676,930; $382,420 (effective Feb 2, 2023) |
| Target Bonus % of Salary | 35% | 40% (approved Feb 2, 2023) |
Performance Compensation
| Year | Component | Metric/Weighting | Target | Actual/Payout |
|---|---|---|---|---|
| 2022 | Annual Bonus | Corporate goals 90%; Individual goals 10% | 35% of base salary | $120,117 paid (RMB 808,244 converted) |
The company’s 2024 program emphasized research/clinical/regulatory goals (67%) and strategic objectives (33%) for NEOs; while Ma was not a 2024 NEO, this illustrates current pay design centered on measurable milestones .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (ordinary shares + options exercisable within 60 days) | 7,356 ordinary shares via ADSs + 428,590 options exercisable within 60 days of Apr 17, 2025 |
| Ownership % of outstanding shares | ~0.25% (435,946 ÷ 172,610,249) based on record-date shares outstanding |
| Hedging/Pledging | Company prohibits hedging and pledging by directors and officers |
| Clawback | Dodd‑Frank compliant incentive compensation recoupment policy in place |
Vesting Schedules and Key Grants
| Grant Date | Instrument | Shares | Strike | Vesting Commencement | Vesting Schedule | Expiration |
|---|---|---|---|---|---|---|
| Jan 20, 2022 | Option | 400,000 ordinary shares | $2.60 | May 11, 2021 | 25% at 1-year; remaining 75% monthly over 36 months, subject to service | Jan 19, 2032 |
| Feb 2, 2023 | Option | 250,000 ordinary shares | $5.00 | Feb 2, 2023 | 4-year vest; subject to achievement of specified clinical milestones in first year; service-based thereafter | Feb 1, 2033 |
Employment Terms
| Provision | Regular Termination | Change-in-Control Termination | Other Key Terms |
|---|---|---|---|
| Cash Severance | 9 months base salary | 12 months base salary | Requires effective release; “regular termination” = involuntary without cause or resignation for good reason outside CIC window |
| Bonus Severance | None | 100% of target bonus | |
| COBRA | Up to 9 months | Up to 12 months | |
| Equity Acceleration | Time-vesting awards that would vest within 6 months accelerate | Full acceleration of time-vesting awards; performance awards deemed at target unless otherwise specified | If awards are not assumed/continued/substituted in certain CIC transactions, full acceleration applies immediately prior to closing |
| Plan Framework | Covered under Severance & Change in Control Plan adopted Jan 2023 | Covered under Severance & Change in Control Plan adopted Jan 2023 |
Company-wide award treatment under the 2023 Equity Incentive Plan also provides for full acceleration if awards are not assumed/continued/substituted in certain corporate transactions; performance awards typically accelerate at target .
Summary Compensation (Historical; when a NEO)
| Year | Salary ($) | Bonus ($) | Option Awards ($) | All Other ($) | Total ($) |
|---|---|---|---|---|---|
| 2022 | $374,421 | $120,117 | $744,738 | $3,047 | $1,242,323 |
Expertise & Qualifications
- Education: B.S. Clinical Medicine (China Medical University); Ph.D. Biochemistry & Molecular Biophysics (UPenn); Postdoctoral Fellowship in Molecular Biology (Rockefeller University) .
- Technical scope: Structural biology, structural chemistry, discovery modalities, and platform leadership across Amgen and GSK; subsidiary leadership at Basecamp Bio .
Compensation Structure Analysis
- Increased at-risk pay and equity mix: Transition to larger equity grants aligned to milestone achievement (e.g., 2023 option contingent on clinical milestones) reflects pay-for-performance design .
- Governance safeguards: Clawback policy plus strict anti-hedging/pledging improve alignment and reduce misaligned risk-taking .
- Severance/CIC economics: Moderate CIC severance (12 months base + 100% target bonus) with full equity acceleration may lower exit friction but also dilutes retention if a sale is imminent; regular termination benefits (9 months base; partial equity acceleration) offer baseline stability .
Risk Indicators & Red Flags
- Pledging/Hedging: Prohibited for executives and directors (mitigates alignment risk) .
- Option performance triggers: 2023 grant required first-year clinical milestones—strong alignment; missed milestones can lead to termination of performance-tied awards as seen with another executive’s 2023 performance option (illustrative of enforcement rigor) .
Investment Implications
- Alignment: Ma’s ownership (options plus shares) and milestone-conditioned awards indicate meaningful skin-in-the-game; anti-hedging/pledging and clawback policies further align incentives with long-term outcomes .
- Retention risk: Severance plan offers balanced protection; CIC acceleration could modestly increase turnover risk in M&A scenarios but also ensures continuity incentives pre-close .
- Trading pressure: Monthly vesting on large option grants can create ongoing potential supply; however, blackout, insider trading policies, and anti-hedging reduce opportunistic trading risk .
- Performance linkage: Company-wide pay versus performance signals are mixed given negative net income typical of clinical-stage firms; TSR whipsaw underscores pipeline and financing sensitivity—continued execution on GLP‑1 and amylin programs will be key to value creation during Ma’s CTO tenure .