Peter Rhode
About Peter Rhode
Peter Rhode, Ph.D., age 67, is Chief Scientific Officer and Vice President of Clinical Operations at HCW Biologics and has served in this role since May 2019 . His background includes Senior Scientist at Baxter International (1991–1996), Research Director at Sunol Molecular (1996–2002), VP R&D at Altor BioScience (2002–2017), and SVP R&D at Altor post-acquisition by NantCell/ImmunityBio (2017–2019); education includes a B.S. (UC Davis), Ph.D. in Biochemistry/Biophysics (University of Wisconsin–Madison), and a postdoctoral fellowship at Caltech . No pay-versus-performance TSR, revenue, or EBITDA metrics specific to Dr. Rhode are disclosed in HCWB’s proxy; executive officers serve at the discretion of the Board .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Baxter International Inc. | Senior Scientist | 1991–1996 | Biopharma R&D foundation; upstream scientific execution |
| Sunol Molecular Corporation | Research Director | 1996–2002 | Built and led research team; early biologics discovery |
| Altor BioScience Corporation | VP, Research & Development | 2002–2017 | Scaled platform/product R&D; core oncology/immune programs |
| NantCell/ImmunityBio (post-Altor acquisition) | SVP, Research & Development | 2017–2019 | Post-merger R&D continuity and integration leadership |
External Roles
No current external public-company directorships or committee roles disclosed for Dr. Rhode in HCWB filings reviewed .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | $241,500 | $246,795 |
| Cash Bonus ($) | — | $5,000 |
| Option Awards ($) | — | — |
| Non-Equity Incentive Plan Compensation ($) | — | — |
| All Other Compensation ($) | $9,660 | $9,872 |
| Total ($) | $251,160 | $261,667 |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting Terms |
|---|---|---|---|---|---|---|
| Annual bonus (cash) | Not disclosed (Company references performance-based bonuses in proxy footnotes) | Not disclosed | Not disclosed | $5,000 (FY 2024) | $5,000 | Not disclosed |
Note: HCWB’s proxy describes CEO bonus mechanics and the existence of an Executive Incentive Bonus Plan, but does not provide metric targets or weightings for Dr. Rhode .
Equity Ownership & Alignment
- Post-reverse split beneficial ownership (as of April 22, 2025): Dr. Rhode held 1,939 shares of common stock and 1,061 options exercisable within 60 days; aggregate beneficially owned 3,000 shares (<1%) .
- Filings do not disclose pledging/hedging by Dr. Rhode; stock ownership guidelines and compliance status for executives are not disclosed in reviewed HCWB documents .
| Ownership Snapshot | Common Stock | Options Exercisable ≤60 days | Aggregate Beneficial Shares | % Outstanding |
|---|---|---|---|---|
| Pre-split (Apr 2, 2025) | 77,500 | 42,284 | 119,784 | <1% |
| Post-split (Apr 22, 2025) | 1,939 | 1,061 | 3,000 | <1% |
Context: HCWB effected a 1-for-40 reverse stock split on April 11, 2025; proxy figures reflect post-split shares .
Additional observations:
- Vested vs unvested shares and option strike/exercise/expiry details are not disclosed for Dr. Rhode in the reviewed proxy; “Outstanding Equity Awards” tables were not present for HCWB in retrieved documents .
- Multiple press releases list Dr. Rhode as Company contact and presenter for TRBC/TCE programs, indicating public-facing leadership in pipeline communication .
Employment Terms
- Role basis: Executive officers “serve at the discretion of our board of directors” .
- No employment agreement, severance, change-of-control terms, non-compete, non-solicit, garden leave, or clawback provisions are disclosed for Dr. Rhode in the reviewed proxy; employment agreement narratives provided are specific to the CEO .
- No retention or sign-on bonuses disclosed for Dr. Rhode .
Performance & Track Record
- Program leadership and external communication: Dr. Rhode presented on HCW’s second-generation T-cell engagers (TCEs) and pembrolizumab-based immune checkpoint inhibitor (HCW11-040), highlighting manufacturability and preclinical efficacy/safety claims for oncology applications; he is listed as Company contact across multiple releases .
- Tenure at HCWB: since May 2019, underpinning continuity across platform transition from legacy TOBI to TRBC and preclinical program expansions .
- Quantitative operating or market outperformance measures for his tenure are not disclosed in the proxy material reviewed .
Investment Implications
- Pay mix and incentives: Dr. Rhode’s compensation is primarily cash-based with modest annual bonus and no disclosed equity grants in 2023–2024, limiting direct equity-aligned incentives vs. typical biotech peers that emphasize RSUs/PSUs; specific performance metrics/weightings for his bonus are not disclosed, reducing transparency of pay-for-performance alignment .
- Ownership alignment: Very small personal ownership (<1%) and limited exercisable options suggest low direct equity leverage; pledging/hedging not disclosed, and ownership guideline policy/compliance for executives is not available in filings reviewed .
- Retention and change-of-control risk: Absence of disclosed employment agreement terms (severance, CoC acceleration, non-compete) for Dr. Rhode indicates at-will service at Board discretion; while typical for small-cap biotech, lack of explicit retention economics may modestly elevate transition risk in event-driven scenarios .
- Trading signals: Without Form 4 data or vesting schedules, insider selling/buying pressure cannot be assessed here; available disclosures emphasize Dr. Rhode’s active role in program communications rather than grant-driven vesting events .
Note: For a full insider trading analysis (Form 4 over the last 24 months) and award-level vesting schedules, additional retrieval from insider filings is required; such detail was not present in HCWB’s proxy and 8-K/press releases referenced above .