Daniel Kirby
IOVANCE BIOTHERAPEUTICSAbout Daniel Kirby
Daniel Kirby is Chief Commercial Officer at Iovance Biotherapeutics, appointed effective February 10, 2025; he is 53 years old and brings deep commercial expertise in cell therapy across launch readiness, market access, and reimbursement . His background includes CCO roles at Orca Bio and Omeros (2018–2020), and senior commercial leadership for CAR‑T at Celgene/Juno, plus marketing leadership at Medivation and a 14‑year tenure in commercial roles at Amgen . Iovance’s executive pay framework emphasizes pay‑for‑performance aligned to commercial, clinical, regulatory and operational goals rather than specific financial measures; Kirby’s compensation will be evaluated within this structure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Orca Bio | Chief Commercial Officer | Not disclosed | Led global commercial strategy and operations for an emerging cell therapy platform . |
| Omeros Corporation | Chief Commercial Officer | 2018–2020 | Oversaw U.S./EU launch readiness for narsoplimab and all commercial activities for Omidria . |
| Celgene (now Bristol‑Myers Squibb) | VP & Head of US Cell & Gene | Not disclosed | Led market access, reimbursement, and marketing for CAR‑T products . |
| Juno Therapeutics | VP of Marketing & Market Access | Not disclosed | Joined Celgene following Juno acquisition; led marketing/access for cell therapy . |
| Medivation (now Pfizer) | Head of Marketing | Not disclosed | Marketing leadership for oncology portfolio . |
| Amgen | Various commercial roles | 14 years | Progressive commercial leadership across therapeutic franchises . |
External Roles
None disclosed in company filings for Kirby (no public company directorships or committee roles identified) .
Fixed Compensation
- Base salary, target bonus %, and actual bonus paid for Kirby have not been disclosed; the 2025 proxy’s NEO disclosures cover 2024 executives and do not include Kirby (joined in 2025) .
Performance Compensation
| Incentive Type | Shares/Units | Grant Date | Strike/Grant Price | Vesting Schedule | Performance Metrics |
|---|---|---|---|---|---|
| Inducement stock options | Not disclosed (part of aggregate 305,000) | Feb 10, 2025 | Exercise price = closing price on grant date | One‑third vests on first anniversary of employee start date; remaining vests in eight quarterly installments over next two years, subject to continued employment | Not performance‑based for options . |
| Inducement RSUs | Not disclosed (part of aggregate 305,000) | Feb 10, 2025 | N/A (RSUs) | One‑third vests on first anniversary of employee start date; remaining vests in eight quarterly installments over next two years, subject to continued employment | Certain RSUs may vest upon achievement of performance milestones tied to specified financial results (details not disclosed) . |
| Aggregate inducement awards (options + RSUs) | Up to 305,000 shares | Feb 10, 2025 | See above | See above | See above . |
Additional context:
- Inducement awards granted under the Amended & Restated 2021 Inducement Plan pursuant to Nasdaq Listing Rule 5635(c)(4) for new hires .
- Iovance’s annual incentives generally tie to commercial, regulatory, clinical and operational objectives (e.g., launch of Amtagvi), with company‑wide payout calibration by level; 2024 VP+ payouts were 50% of target based on goal attainment (illustrative of framework, not specific to Kirby) .
Equity Ownership & Alignment
- Beneficial ownership (direct/indirect shares, options exercisable) for Kirby was not disclosed in the 2025 proxy’s record‑date ownership table (covers 2024 NEOs/directors; Kirby not listed) .
- Stock ownership guidelines: Iovance does not require executives to hold a specific number of shares, but views existing holdings as adequate for alignment .
- Hedging/pledging: Insider Trading Policy prohibits short‑selling, derivatives, margin accounts, pledging, and hedging/monetization transactions for directors and Section 16 officers, reducing misalignment and forced‑sale risks .
- Equity plan overhang/run‑rate: 3‑year average run rate 3.71%; total overhang 10.48% as of record date; helps frame dilution context for equity awards company‑wide .
Employment Terms
- Company practice: Written employment agreements are used for NEOs to define termination/severance and restrictive covenants, but Kirby’s specific agreement terms are not disclosed .
- Change‑of‑control (2018 Equity Plan): If terminated other than for cause within 12 months post‑CoC, options/SARs become immediately exercisable and RSUs/restricted stock vest (performance‑conditioned awards vest based on actual/target achievement, typically prorated); committee may cash‑out awards in connection with transactions. These terms apply to awards under the 2018 Plan; Kirby’s inducement grants are under the 2021 Inducement Plan and specific CoC terms for those awards were not disclosed .
- Clawback: Dodd‑Frank/Nasdaq‑compliant clawback policy adopted November 17, 2023; equity awards under the 2018 Plan are subject to clawback where required .
Investment Implications
- Alignment and retention: A sizable three‑year, front‑loaded inducement package (aggregate up to 305,000 shares) creates strong near‑ to medium‑term retention hooks and aligns incentives with share‑price and commercial execution; performance‑vesting RSUs tied to financial results add pay‑for‑performance sensitivity .
- Selling pressure cadence: Time‑based vesting (one‑third at first anniversary, then quarterly) establishes predictable potential liquidity windows; actual selling behavior should be monitored via Form 4 filings to assess insider supply signals and confidence .
- Governance safeguards: No mandatory ownership minimums but robust prohibitions on hedging/pledging and an active clawback framework reduce alignment and reputational risk; plan‑level CoC accelerators can mitigate retention risk through transition events .
- Execution track record: Kirby’s history spans multiple cell/oncology launches and market access for CAR‑T—directly relevant to scaling Amtagvi and Proleukin commercialization; effectiveness should be judged against Iovance’s stated commercial/regulatory objectives rather than GAAP metrics per company pay philosophy .