Michael White
About Michael White
Michael A. White, Ph.D., age 60, is Chief Scientific Officer (CSO) of IDEAYA Biosciences since October 2021, with prior roles as CSO at Biosplice Therapeutics (2020–2021), CSO/Head of Tumor Biology at Pfizer (2016–2020), and Professor of Cell Biology and founding Director of the Cancer Intervention & Prevention Discovery Program at UT Southwestern (1995–2016). He holds a Ph.D. in Biology from the University of North Carolina at Chapel Hill, completed a postdoctoral fellowship at Cold Spring Harbor Laboratory, and earned a B.S. in Biology from the University of Iowa . Company-level performance context: IDEAYA reported cumulative TSR values of 168.86 (2021), 129.79 (2022), 254.14 (2023), and 183.57 (2024), net losses of $(49.8)M, $(58.7)M, $(113.0)M, and $(274.5)M, respectively, and cash/cash equivalents/marketable securities of $368.1M, $373.1M, $623.6M, and $1,082.2M, respectively .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| UT Southwestern Medical Center | Professor of Cell Biology; Founding Director, Cancer Intervention & Prevention Discovery Program | 1995–2016 | Led discovery program in cancer intervention and prevention |
| Pfizer Inc. | Chief Scientific Officer; Head of Tumor Biology | 2016–2020 | Led tumor biology; early oncology discovery leadership |
| Biosplice Therapeutics, Inc. | Chief Scientific Officer | 2020–2021 | CSO overseeing R&D at preclinical/clinical interface |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company directorships or external board roles disclosed |
Fixed Compensation
Multi-year compensation for Michael A. White (CSO):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | $440,000 | $462,000 | $489,500 |
| Target Bonus % of Salary | — | — | 40% |
| Actual Annual Bonus Paid ($) | $169,840 | $184,800 | $223,300 |
| Option Awards Grant-Date Fair Value ($) | $880,637 | $2,096,919 | $4,650,996 |
| All Other Compensation ($) | $4,009 | $15,000 | $15,600 |
Notes:
- 2024 target bonus percentages remained at 2023 levels; Michael’s target = 40% of base salary .
Performance Compensation
2024 annual bonus framework and outcomes:
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Corporate objectives (clinical & preclinical) | 70% of corporate score | Company-defined (not publicly disclosed) | 100% achievement | Included in $223,300 cash bonus | Cash (N/A) |
| Corporate development objectives | 30% of corporate score | Company-defined (not publicly disclosed) | 100% achievement | Included in $223,300 cash bonus | Cash (N/A) |
| Individual performance | 30% of executive’s bonus formula | Role-specific qualitative metrics | 100% achievement for NEOs | Included in $223,300 cash bonus | Cash (N/A) |
Equity incentives (options):
- Annual option grants vest 25% on first anniversary of vesting commencement date, then 1/48 monthly thereafter; annual grants use January 1 as vesting commencement date; exercise price = closing price on grant date .
Grant detail (2024):
- 140,000 options granted on 3/1/2024 at $46.22 exercise price; grant-date fair value $4,650,996 .
Equity Ownership & Alignment
Beneficial ownership as of March 31, 2025:
| Item | Value |
|---|---|
| Shares owned (outstanding) | 0 |
| Options exercisable within 60 days | 207,392 |
| Total beneficially owned | 207,392 |
| Percent of shares outstanding | <1% (on 87,565,252 shares outstanding) |
Outstanding equity awards at FY-end (12/31/2024):
| Vesting Commencement Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration Date |
|---|---|---|---|---|
| 10/25/2021 | 158,332 | 41,668 | 22.01 | 10/25/2031 |
| 3/1/2022 | 38,944 | 25,056 | 12.86 | 3/1/2032 |
| 2/24/2023 | 79,057 | 85,943 | 17.04 | 2/24/2033 |
| 3/1/2024 | — | 140,000 | 46.22 | 3/1/2034 |
Option exercises (2024):
| Metric | 2024 |
|---|---|
| Shares acquired on exercise (#) | 28,500 |
| Value realized ($) | $670,890 |
Alignment policies:
- Anti-hedging and anti-pledging: Directors, officers, and employees are prohibited from hedging or pledging IDEAYA securities (including margin accounts) .
- Clawback (compensation recovery) policy for erroneously awarded incentive compensation upon accounting restatement .
Employment Terms
Severance and change-in-control (CIC) economics for Michael A. White (as of 12/31/2024):
| Scenario | Cash Severance | Target Bonus | Healthcare Continuation | Equity Acceleration | Total |
|---|---|---|---|---|---|
| Involuntary termination or resignation for good reason outside CIC window | $367,125 | — | $41,036 | — | $408,161 |
| Involuntary termination or resignation for good reason within CIC window | $489,500 | $195,800 | $54,715 | $2,988,660 | $3,728,675 |
Structure and definitions:
- Non-CIC severance generally = 75% of base salary + up to 9 months healthcare continuation .
- CIC severance generally = base salary + target bonus + up to 12 months healthcare + full equity vesting acceleration (double-trigger: requires termination during the CIC protection period) .
- “Cause,” “Change in Control,” and “Good Reason” are defined; includes 3-month pre-/12-month post-CIC protection period and a “good reason process” with cure period .
Other policies:
- No tax gross-ups under Sections 280G/4999; committee may award non-deductible compensation under 162(m) as needed .
Performance & Track Record (Company context during tenure)
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| TSR (Value of $100 investment) | 168.86 | 129.79 | 254.14 | 183.57 |
| Peer Group TSR (Nasdaq Biotechnology Index) | 100.02 | 89.90 | 94.03 | 93.49 |
| Net Loss ($ thousands) | (49,762) | (58,655) | (112,961) | (274,477) |
| Cash, Cash Equivalents & Marketable Securities ($ millions) | 368.1 | 373.1 | 623.6 | 1,082.2 |
Selected 2024–early 2025 R&D milestones (relevant to CSO remit):
- IDE397: Phase 2 monotherapy expansion dose selected; preliminary efficacy in MTAP-deleted UC/NSCLC; Trodelvy combo first patient dosed (Gilead) and NSCLC combo expansion .
- IDE161: Phase 1/2 monotherapy expansion dose selected; ongoing enrollment; KEYTRUDA combo initiated with first patient dosed .
- IDE275 (WRN helicase) and IDE705 (Pol Theta) programs with GSK advanced; $7.0M milestone earned for IND clearance .
- New ADC assets: IDE849 (DLL3 TOP1i ADC) worldwide ex-Greater China license and U.S. IND filed; IDE034 bispecific ADC candidate and IDE892 PRMT5 candidate selected .
- Capital raised with year-end 2024 cash/cash equivalents/marketable securities ≈ $1.1B .
Compensation Committee & Say-on-Pay
- Peer group methodology (pre-commercial oncology biopharma, market cap/headcount/geography); committee references 25th/50th/75th percentile; 2024 peer group includes 20+ names (e.g., Arvinas, Relay, Revolution Medicines, Syndax, Xencor, Vaxcyte) and updated from prior year .
- 2024 say-on-pay approval ~91% favorable; committee considers ongoing investor feedback in pay decisions .
Investment Implications
- Incentive alignment: Michael’s pay mix is heavily equity option-based with multi-year vesting tied to retention and long-term value; annual cash bonus driven by corporate/individual outcomes that scored 100% in 2024, resulting in a $223,300 payout .
- Retention risk: Double-trigger CIC provides full equity acceleration upon qualifying termination within CIC window; outside CIC, severance is modest (75% salary + 9 months healthcare), suggesting balanced retention incentives without excessive guaranteed protections .
- Insider selling pressure: 2024 exercises of 28,500 options realized $670,890; outstanding unexercised options remain sizable, including a 2024 grant at $46.22 strike with long-dated expiry, implying ongoing exposure to share price performance and potential future supply depending on vesting/exercise cadence .
- Alignment safeguards: Strict anti-hedging/anti-pledging policy and an explicit clawback for restatements support governance quality and alignment; no 280G/4999 tax gross-ups .
- Skin-in-the-game: Beneficial ownership is <1% (options exercisable within 60 days = 207,392; no direct share holdings), so alignment is primarily via options rather than substantial outright share ownership .