Cynthia Butitta
About Cynthia Butitta
Independent director at Century Therapeutics (IPSC) since February 2021; age 70. Former COO and CFO at Kite Pharma, with prior CFO roles at NextWave Pharmaceuticals and senior leadership at Telik. Education: B.S. (business/accounting) Edgewood College; MBA (finance) University of Wisconsin–Madison .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kite Pharma Inc. | Chief Operating Officer; EVP & Chief Financial Officer | COO: Dec 2013–Sep 2017; EVP & CFO: Jan 2014–May 2016 | Executive operations and finance leadership in cell therapy scale-up |
| NextWave Pharmaceuticals, Inc. | SVP & Chief Financial Officer | May 2011–Dec 2012 | Specialty pharma finance leadership |
| Telik, Inc. | Chief Operating Officer; Chief Financial Officer | 1998–2010 | Long-tenured biotech operator and CFO |
External Roles
| Company | Role | Tenure/Status |
|---|---|---|
| Olema Pharmaceuticals, Inc. | Director | Since Aug 2020 |
| Autolus Therapeutics plc | Director | Since Mar 2018 |
| UroGen Pharma Ltd. | Director | Since Oct 2017 |
Board Governance
- Independence: Board determined all directors except the CEO are independent; Butitta listed as “Yes” in director biographies and committee matrix .
- Committees: Audit Committee member; Compensation Committee member; qualifies as an “audit committee financial expert” (SEC definition). Audit Committee chaired by Daphne Quimi; Compensation Committee chaired by Carlo Rizzuto .
- Attendance: In 2024, Board met 7x; Compensation Committee 4x; Audit Committee 4x; NCGC 4x; each director attended at least 75% of meetings; all directors attended the 2024 annual meeting (June 20, 2024). Similar attendance disclosure for 2023 .
- Executive sessions: Independent directors meet regularly without management .
Fixed Compensation
| Element | Amount/Terms |
|---|---|
| Annual Board retainer (member) | $40,000 |
| Additional Board chair retainer | $30,000 (applies to chair of the Board; not applicable to Butitta) |
| Committee chair retainers | Audit $15,000; Compensation $10,000; NCGC $8,000 |
| Committee member retainers | Audit $7,500; Compensation $5,000; NCGC $4,000 |
| Initial equity grant (onboarding) | Option to purchase 88,000 shares; vests monthly over 36 months |
| Annual equity retainer | Option to purchase 44,000 shares; vests in full by first anniversary or next annual meeting |
| Non-Employee Director Compensation (Butitta) | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $56,250 | $52,500 |
| Option Awards (Grant-date Fair Value, $) | $114,400 | $81,092 |
| Total ($) | $170,650 | $133,592 |
Performance Compensation
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Equity award type | Service-vested stock options (annual board grant) | Service-vested stock options (annual board grant) |
| Performance metrics tied to director pay | None disclosed (director equity is service-based; no TSR/financial KPIs) | |
| Vesting schedule (annual grant) | 44,000 options; vests by annual meeting or 1-year anniversary | 44,000 options; vests by annual meeting or 1-year anniversary |
No director-specific cash bonuses, PSUs, or performance hurdles are disclosed for non-employee directors; equity vesting is service-based .
Other Directorships & Interlocks
- Current public boards: Olema, Autolus, UroGen (see External Roles). No Century-disclosed related-party transactions involving Butitta; Audit Committee oversees related-party approvals under formal policy .
- Compensation Committee interlocks: During 2024 and 2023, no members (including Butitta) served as Century officers; no executive officer served on boards/comp committees of entities with Century executives (reduces interlock risks) .
Expertise & Qualifications
- Recognized audit and finance expertise; designated audit committee financial expert .
- Deep biopharma operator experience across CFO/COO roles; cell therapy commercialization exposure from Kite .
- Education: B.S. (business/accounting), MBA (finance) .
Equity Ownership
| Ownership Detail | Apr 19, 2024 | Apr 15, 2025 |
|---|---|---|
| Total beneficial ownership (shares) | 138,680 | 182,680 |
| % of shares outstanding | <1% (82,404,292 outstanding) | <1% (86,158,758 outstanding) |
| Common shares directly held | 98,936 | 98,936 |
| Options exercisable within 60 days | 39,744 | 83,744 |
| Unvested stock awards (RS/RSUs) at year-end | 49,468 (as of Dec 31, 2023) | 24,734 (as of Dec 31, 2024) |
Pledging/hedging: Company policy prohibits directors from hedging or pledging company stock, short sales, and margin accounts .
Section 16 compliance: Company reports timely filings for 2024 except one late Form 4 for another insider; no issues noted for Butitta .
Governance Assessment
- Positive signals:
- Independent status, dual committee service (Audit and Compensation), and designation as audit committee financial expert strengthen oversight on financial reporting and pay .
- Strong attendance (≥75%) and regular independent executive sessions support board effectiveness .
- Ownership alignment present via direct holdings and options; no pledging/hedging permitted .
- Watch items:
- External board roles at Autolus (cell therapy) create potential information-flow sensitivities; however, Century discloses no related-party transactions tied to Butitta and maintains an Audit Committee review framework for conflicts .
- Director equity is entirely service-based options (no performance hurdles), common in small-cap biotech but offers limited pay-for-performance linkage for directors .
- Red flags observed: None disclosed regarding related-party transactions, option repricing, tax gross-ups, or low shareholder vote outcomes related to her role; compensation committee interlock risks are explicitly disclaimed .