Jack Higgins
About Jack Higgins
Jack Higgins, Ph.D., is Chief Scientific Officer at Immunome (IMNM) since October 2023. He previously served as Morphimmune’s CSO (May 2022–October 2023), and held roles at Molecular Templates including Chief Development Sciences Officer (June 2019–April 2021) and SVP Operations/Head of Manufacturing (August 2017–June 2019); he co‑invented Molecular Templates’ Engineered Toxin Body platform. Dr. Higgins completed a fellowship in tumor immunology at the National Cancer Institute and earned a Ph.D. and M.S. from the University of Arkansas and a B.S. from Texas A&M University . Age: 46 as of the 2025 proxy . The company ties executive bonuses to research, development and corporate goals rather than TSR or EBITDA metrics; 2023 bonuses were paid on a 150% achievement factor for corporate goals .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Immunome (IMNM) | Chief Scientific Officer | Oct 2023–present | Leads discovery/development across oncology pipeline |
| Morphimmune | Chief Scientific Officer | May 2022–Oct 2023 | Transitioned scientific leadership through merger with Immunome |
| Molecular Templates (MTEM) | Chief Development Sciences Officer | Jun 2019–Apr 2021 | Led discovery and development for multiple clinical candidates; co‑invented ETB platform |
| Molecular Templates (MTEM) | SVP Operations, Head of Manufacturing | Aug 2017–Jun 2019 | Built manufacturing capabilities supporting clinical programs |
| National Cancer Institute | Tumor Immunology Fellow | Not disclosed | Advanced immuno‑oncology expertise |
External Roles
No public company board service or external directorships disclosed for Dr. Higgins in Immunome’s proxy filings .
Fixed Compensation
Current compensation terms (per Higgins Amended & Restated Offer Letter):
| Component | Terms | Notes |
|---|---|---|
| Base Salary | $460,000 | Set by Board in Nov 2023 |
| Target Bonus % | 40% of base | Based on individual and company goals |
| Relocation Bonus | $250,000 (one‑time) | Paid in advance; earned on 90th day after permanent relocation to Bothell, WA (required by July 1, 2024) |
| Housing Bonus | $750,000 (one‑time) | Paid in advance upon entering home purchase contract; earned ratably over 3 years from closing |
| Equity Grant | 200,000 stock options | Additional grant; vesting detailed below |
Historical compensation (actuals):
| Metric | 2023 |
|---|---|
| Salary ($) | $107,916 |
| Bonus ($) | $250,000 (relocation bonus) |
| Non‑Equity Incentive Plan Compensation ($) | $266,800 |
| Option Awards ($) | $1,212,900 (grant‑date fair value per ASC 718) |
| All Other Compensation ($) | $3,238 (401(k) match, etc.) |
| Total ($) | $1,840,854 |
Performance Compensation
Annual cash incentive mechanics and payout:
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| 2023 Annual Bonus (Corporate/Individual Goals) | Corporate goals used for payout; individual goals eligible | 40% of base salary | 150% achievement factor on corporate goals | $266,800 | Cash (annual) |
Equity awards and vesting schedules:
| Grant Date | Shares | Exercise Price ($) | Expiration | Vesting |
|---|---|---|---|---|
| 6/24/2022 (Morphimmune option adjusted at merger) | 78,598 exercisable; 119,966 unexercisable (as of 12/31/2023) | 1.35 | 6/23/2032 | 25% at 1‑year cliff (May 1, 2023), then monthly over 36 months |
| 12/01/2023 (IMNM) | 200,000 | 7.80 | 12/01/2033 | 100,000: 25% on Nov 17, 2024, then monthly over 3 years; 100,000: vesting starts upon permanent relocation to Bothell; 25% at 1‑year cliff from that date, then monthly over 36 months |
Notes:
- Immunome option grants generally vest over four years (one‑year cliff then monthly) and have 10‑year terms .
- Annual option refresh grants occur in Q3 Compensation Committee meetings from 2024 onward .
Equity Ownership & Alignment
| Ownership Item | Amount | As of Date | Notes |
|---|---|---|---|
| Common shares owned | 13,529 | Feb 1, 2025 | Listed in ownership footnote (group breakdown) |
| Options exercisable within 60 days | 158,595 | Feb 1, 2025 | Included in beneficial ownership calculation |
| Total beneficial shares (shares + options) | 172,124 (computed from 13,529 + 158,595) | Feb 1, 2025 | SEC methodology includes options exercisable within 60 days |
| Shares outstanding (denominator) | 86,796,919 | Feb 1, 2025 | Ownership table base |
| Beneficial ownership % | ~0.20% (172,124 / 86,796,919) | Feb 1, 2025 | Computed from disclosed amounts |
Alignment policies:
- Hedging and pledging of company stock are prohibited for directors and officers (no margin purchases or pledging as collateral) .
- Compensation Committee has clawback authority over incentive compensation .
Employment Terms
| Term | Provision |
|---|---|
| Employment Status | At‑will; may be terminated at any time |
| Severance (non‑CIC) | 12 months base salary, 12 months COBRA, and pro‑rated portion of target annual bonus (subject to release) |
| Change‑in‑Control (CIC) Severance | 12 months base salary, 12 months COBRA, 100% of target annual bonus, and full acceleration of unvested equity awards if termination occurs starting 30 days prior to, at, or within 12 months post‑CIC (subject to release) |
| Bonuses tied to relocation/housing | $250,000 relocation bonus (earned on 90th day post‑relocation); $750,000 housing bonus (earned over 3 years from home closing) |
| Equity Terms | Additional 200,000 option grant; vest schedules tied to time and relocation milestones |
| Peer Benchmarking | Target cash comp referenced at 50th percentile; equity at ~75th percentile of peer group (Radford/Aon) |
Investment Implications
- Pay‑for‑performance: 2023 bonus paid at 150% corporate goal achievement, indicating strong internal performance vs. plan; bonus framework emphasizes operational R&D/corporate milestones rather than market‑based TSR/EBITDA metrics .
- Vesting cadence and potential selling pressure: Large time‑based option grants with monthly vesting from late 2024 onward increase regular liquidity events; however, hedging and pledging are prohibited, moderating alignment risk .
- Retention/Relocation incentives: Significant one‑time relocation ($250k) and housing ($750k) bonuses earned over time create retention hooks; CIC terms include full acceleration, which could raise exit‑related dilution risk if a transaction occurs .
- Ownership alignment: Beneficial ownership of ~0.20% (including near‑term exercisable options) provides skin‑in‑the‑game, though not a controlling stake; company‑wide clawback policy adds governance discipline over incentives .