Lawrence Lamb
About Lawrence Lamb
Lawrence Lamb, Ph.D., is Executive Vice President, Chief Scientific Officer, and co-founder of IN8bio (INAB). He has served as EVP & CSO since November 2018 and as Chair of the Scientific Advisory Board since December 2017; his age is 71 as of March 14, 2025 . Dr. Lamb previously served as a Professor of Medicine at the University of Alabama at Birmingham specializing in transplantation immunology and as Director of the UAB Cell Therapy Laboratory (2004–2018), and earlier as faculty at the University of South Carolina School of Medicine (1995–2004); he received postdoctoral fellowships at USC-Columbia and the South Carolina Cancer Center, a Ph.D. and M.S. from USC-Columbia, and a B.S. from the Medical College of Georgia . IN8bio’s recent financial trend remains loss-making, with FY 2024 net loss of $30.4M and EBITDA of -$27.8M; see performance table below.*
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| University of Alabama at Birmingham (UAB) | Professor of Medicine; Director, UAB Cell Therapy Laboratory (Bone Marrow Transplant & Cellular Therapy) | 2004–2018 | Led transplantation immunology and cell therapy operations |
| University of South Carolina School of Medicine | Assistant/Associate Professor | 1995–2004 | Academic leadership in immunology; foundational research experience |
| IN8bio | Chair, Scientific Advisory Board | Dec 2017–present | Scientific governance and advisory oversight |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Various national/international committees (cell & gene therapy) | Committee member | Not disclosed | Contributes domain expertise to broader cell/gene therapy ecosystem |
Fixed Compensation
| Metric | FY 2020 | FY 2021 | FY 2022 |
|---|---|---|---|
| Base Salary ($) | $245,000 | $326,023 | $415,000 (effective Jan 1, 2022) |
| Target Bonus (%) | 40% of base salary | 40% of base salary | 40% of base salary |
| Actual Bonus Paid ($) | $120,000 | $156,450 | — |
Notes:
- Employment agreement amended and restated in December 2020; at-will employment with initial terms and target bonus set therein .
- No subsequent NEO disclosure for Dr. Lamb in 2023–2025 proxies; later annual cash comp not itemized for him .
Performance Compensation
| Incentive | Metric Basis | Weighting | Target | Actual | Payout Form | Vesting |
|---|---|---|---|---|---|---|
| Annual Performance Bonus (FY 2021) | Corporate and individual performance goals (company-defined) | Not disclosed | 40% of base salary | $156,450 | Cash | N/A |
| Annual Performance Bonus (FY 2020) | Corporate and individual performance goals (company-defined) | Not disclosed | 40% of base salary | $120,000 | Cash | N/A |
No explicit revenue/EBITDA/TSR-linked metrics are disclosed for Dr. Lamb’s bonus determinations; the plan references corporate and individual goals without granular targets or weightings .
Equity Ownership & Alignment
| Item | Detail | Date/As of | Amount/Terms |
|---|---|---|---|
| Beneficial Ownership | Shares and derivatives beneficially owned | Apr 11, 2022 | 327,005 shares (1.7% of outstanding) |
| 2023 Private Placement Participation | Common stock purchased | Dec 13, 2023 | 1,639 shares |
| 2023 Private Placement Participation | Series A Warrants purchased | Dec 13, 2023 | 1,639 warrant shares (exercise $1.25, exp. Jun 13, 2025) |
| 2023 Private Placement Participation | Series B Warrants purchased | Dec 13, 2023 | 1,639 warrant shares (exercise $1.50, exp. Dec 13, 2028) |
| Hedging/Pledging Policy | Hedging, margin purchases, and pledging of company stock prohibited for directors, officers, employees, and designated consultants | Policy effective; on file with 2024 10-K | Prohibited activities under Insider Trading Policy |
Outstanding equity awards (as of Dec 31, 2021):
| Grant Date | Exercisable (#) | Unexercisable (#) | Exercise Price ($) | Expiration | Vesting Terms |
|---|---|---|---|---|---|
| 11/12/2018 | 54,750 | — | $1.07 | 11/11/2028 | 36 equal monthly installments |
| 03/12/2019 | 42,938 | 15,949 | $1.07 | 03/11/2029 | 25% vested 1/1/2020; then 36 monthly installments |
| 03/12/2019 | — | 22,082 | $1.07 | 03/11/2029 | Vests 6 months post-offering completion |
| 03/12/2019 | — | 66,248 | $1.07 | 03/11/2029 | Vests upon achievement of milestone events |
| 10/05/2020 | 79,843 | 193,907 | $6.74 | 10/04/2030 | 25% on 10/1/2021; then 36 monthly installments |
| 07/29/2021 | 6,406 | 55,094 | $10.00 | 07/28/2031 | 48 equal monthly installments from 8/28/2021 |
Stock ownership guidelines (required multiples of salary) are not disclosed; compliance status not provided in available filings. Pledging and hedging are prohibited .
Employment Terms
| Provision | Standard Term | Change-in-Control (CiC) Term |
|---|---|---|
| Employment status | At-will; amended & restated employment agreement executed Dec 2020 | N/A |
| Base salary reference | $300,000 initially; increased to $350,000 post-IPO (July 2021); increased to $415,000 effective Jan 1, 2022 | N/A |
| Target bonus | 40% of base salary | 100% of target bonus payable in CiC termination case |
| Severance (termination without cause / good reason) | 9 months of then-current base salary; prorated bonus if performance goals achieved; up to 9 months COBRA continuation | Lump sum: 12 months base salary + 100% of target bonus; full acceleration of all unvested equity; up to 12 months COBRA continuation |
| Equity vesting on termination | Acceleration only as described (none for standard severance; full acceleration for CiC) | Full accelerated vesting of all unvested equity |
| Restrictive covenants | Non-solicit and non-compete provisions in standard employee confidential information and invention assignment agreement | Same |
| Clawback | Incentive Compensation Recoupment Policy adopted Oct 2023 (Rule 10D-1/Nasdaq 5608 compliance) | Applies to incentive comp based on financial reporting measures |
| Hedging/Pledging | Prohibited under Insider Trading Policy | Prohibited |
Company Performance During Tenure
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| EBITDA ($) | -8.5M* | -14.0M* | -27.9M* | -28.5M* | -27.8M* |
| Net Income ($) | -8.6M* | -14.7M* | -28.5M* | -30.0M* | -30.4M* |
*Values retrieved from S&P Global.
Investment Implications
- Alignment and pay mix: Dr. Lamb’s compensation historically combines modest cash (base + 40% target bonus) with significant option-based equity, including milestone- and time-based vesting—supporting long-term alignment but creating potential vesting-driven trading windows rather than immediate selling pressure .
- Retention risk: Severance is nine months of salary in non-CiC scenarios, increasing to 12 months + 100% target bonus with full equity acceleration upon CiC termination; at-will status and standard non-compete/non-solicit apply, suggesting manageable retention risk with enhanced CiC protection .
- Governance safeguards: Company-level prohibitions on hedging and pledging, plus a compliant clawback policy, mitigate misalignment and reputational risk around incentive outcomes .
- Performance backdrop: IN8bio remains pre-revenue in disclosures and has sustained operating losses; option-centric comp ties executive upside to long-term clinical/regulatory and capital market milestones rather than near-term revenue/EBITDA targets .
