Holly Kordasiewicz
IONIS PHARMACEUTICALSAbout Holly Kordasiewicz
Holly Kordasiewicz, Ph.D., is Senior Vice President, Neurology at Ionis and will assume the role of Executive Vice President and Chief Development Officer effective January 2026; she joined Ionis in 2011 and has ~20 years of R&D experience leading an industry‑leading neurology portfolio . She holds a B.A. from SUNY Geneseo and a Ph.D. in Neuroscience from the University of Minnesota, with postdoctoral work at the University of Minnesota and at UC San Diego in Don Cleveland’s lab, where she contributed to foundational CNS antisense oligonucleotide work . Kordasiewicz has played integral roles in Biogen‑partnered programs QALSODY (tofersen) and IONIS‑MAPTRx (BIIB080), and she led Ionis’ positive pivotal study for zilganersen in Alexander disease; she was recognized as a 2025 “Women in Biopharma R&D” honoree by Endpoints News .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ionis Pharmaceuticals | SVP, Neurology | 2011–2025 | Oversees neurology programs (Alexander disease, Angelman syndrome, Alzheimer’s, prion disease, MSA); integral in QALSODY and IONIS‑MAPTRx programs . |
| Ionis Pharmaceuticals | EVP & Chief Development Officer (appointed) | Begins Jan 2026 | Will guide Ionis’ portfolio, including eight wholly owned neurology medicines in clinical development . |
| University of Minnesota | Postdoctoral researcher | Not disclosed | Postdoctoral work in neuroscience; training contributed to CNS ASO expertise . |
| University of California San Diego (Don Cleveland Lab) | Postdoctoral researcher | Not disclosed | Contributed to preclinical work supporting CNS ASO delivery; foundational for SOD1/ALS ASO approach . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Huntington’s Disease Society of America (HDSA) | Scientific Advisory Board member | Not disclosed | Listed as VP of Neurology Research at Ionis; advisory role in HD community . |
| Informa Connect (TIDES RNA Leaders) | Speaker (SVP, Neurology Research) | Not disclosed | Industry conference speaker profile . |
| Endpoints News | 2025 Women in Biopharma R&D honoree | 2025 | Recognition for advancing Ionis’ neurology programs and mentoring . |
Fixed Compensation
- No specific base salary, target bonus %, or actual bonus amounts for Holly Kordasiewicz were disclosed in Ionis’ most recent proxy; Ionis generally reports detailed compensation for named executive officers, and the filing indicates executive officers participate in the Severance Benefit Plan rather than individual employment contracts .
Executive officers “do not have employment contracts with us; however, they are entitled to participate in our Severance Benefit Plan” .
Performance Compensation
- Company policy for executive officers’ long‑term incentives (relevant to the EVP role Holly will assume):
- Performance RSUs (PRSUs) have a single vesting at the end of 3 years; maximum payout requires a higher relative TSR percentile rank increased from 75th to 90th percentile starting with 2023 grants .
- For “other executive officers,” PRSUs account for 20% of annual total equity awards; options and PRSUs are treated as performance‑based compensation .
- Minimum vesting period for equity awards is 12 months .
| Metric | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| Relative TSR vs peer group (PRSUs) | 20% of annual total equity awards for other executive officers | Target level set by Compensation Committee (not publicly quantified) | Maximum payout threshold increased to 90th percentile (from 75th) in 2023+ grants | Single vest at end of three‑year performance period . |
Note: No Holly‑specific annual grant counts or payouts were disclosed in filings; the table reflects Ionis’ framework applicable to executive officers .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 6x base salary; all other executive officers 2x base salary; non‑employee directors 5x annual cash retainer .
- Compliance status (company‑level): As of March 31, 2025, all executive officers met guidelines except Baroldi, Devers, Jenne, and Monia (Monia narrowly missing due to market volatility) .
- Trading/hedging policy: Ionis requires executive officers and vice presidents to transact only under Rule 10b5‑1 trading plans (with limited exceptions); pledging, shorting, and hedging are prohibited .
- Clawback: Executive clawback policy aligned with SEC and Nasdaq 2023 rules; applies to Section 16 officers .
| Alignment Mechanism | Policy | Status/Notes |
|---|---|---|
| Ownership guideline | 2x base salary for other executive officers | Company disclosed compliance by executive officers with named exceptions (not listing Holly) . |
| Rule 10b5‑1 trading program | Required for executive officers and vice presidents (modified to comply with 2022 SEC rules) | Limits discretionary trading; helps manage selling pressure . |
| Hedging/pledging | Prohibited for directors and employees | Reduces misalignment/credit risk from pledging . |
| Clawback | Applies to Section 16 officers; SEC/Nasdaq‑aligned | Enhances pay‑for‑performance accountability . |
Employment Terms
- Holly’s role transition: Appointed to succeed EVP/CDO in January 2026 from SVP, Neurology .
- Severance Benefit Plan (amended/restated March 17, 2022):
- Coverage: Executive officers and vice presidents are “Covered Employees” .
- Double‑trigger change-in-control window: begins 3 months before and ends 12 months after a change in control .
- No tax gross‑ups; payments may be reduced for more favorable after‑tax outcome; includes Section 409A timing adjustments .
- Conditions: Requires execution and non‑revocation of a release including non‑solicitation, non‑disparagement, and confidentiality reaffirmation .
- Equity acceleration under CIC termination: all stock options and RSUs accelerate in full; performance awards deemed satisfied at greater of actual performance or target (per plan and award agreements/2011 Plan) .
| Scenario | Role Level | Cash Severance (months of base) | Target Bonus Payment | Equity Treatment | Health/Dental Coverage |
|---|---|---|---|---|---|
| Termination without cause or resignation for good reason (non‑CIC) | Executive Vice President | 12 months | CEO only (prorated) | Accelerate options/RSUs that would have vested during coverage period | 12 months . |
| Termination without cause or resignation for good reason (non‑CIC) | Senior Vice President | 9 months | CEO only (prorated) | Accelerate options/RSUs that would have vested during coverage period | 9 months . |
| Termination within CIC window (double trigger) | Executive Vice President | 18 months | Then‑current target bonus paid | All options/RSUs accelerate in full; PRSUs per plan (≥ actual or target) | 18 months . |
| Termination within CIC window (double trigger) | Senior Vice President | 12 months | Then‑current target bonus paid | All options/RSUs accelerate in full; PRSUs per plan (≥ actual or target) | 12 months . |
Ionis states it uses “double trigger” for change‑in‑control cash and equity acceleration for executive officers .
Performance & Track Record
- Positive pivotal study: Led Ionis’ Alexander disease program, with zilganersen showing unprecedented disease‑modifying impact; NDA submission targeted for Q1 2026 .
- Portfolio leadership: Oversees Ionis’ neurology pipeline including Angelman syndrome (ION582 phase 3 REVEAL ongoing), Alzheimer’s (BIIB080), prion disease, and MSA; pediatric neurology focus with upcoming readouts and first independent neurology launch planned in 2026 .
- Partnered program contributions: Integral role in Biogen‑partnered QALSODY (tofersen) and IONIS‑MAPTRx .
- Publications: Co‑authored 2025 eLife article on ASO strategy in 22q11.2 deletion syndrome (Ionis affiliation) .
Investment Implications
- Compensation alignment: Ionis’ framework (3‑year PRSUs with elevated TSR thresholds, clawback, ownership guidelines, no hedging/pledging) suggests high alignment of executive incentives with long‑term TSR, which will apply to Kordasiewicz as EVP/CDO .
- Retention and change‑in‑control economics: Robust severance benefits with double‑trigger equity acceleration and meaningful health coverage reduce retention risk during strategic transitions; lack of gross‑ups is shareholder‑friendly .
- Insider selling pressure: Mandatory 10b5‑1 plan usage for executive officers/VPs, combined with anti‑hedging/pledging policies, limits opportunistic selling pressure and alignment dilution .
- Execution signal: Track record of advancing first‑in‑class neurology programs (zilganersen pivotal success; Angelman phase 3) and partnered assets indicates strong execution capabilities as she steps into the CDO role—an incremental positive for pipeline value creation .