Pamela Stephenson
About Pamela Stephenson
Pamela Stephenson, MPH, is Chief Commercial Officer (CCO) at Disc Medicine (IRON) since February 2024. She previously held senior commercial roles at Albireo Pharma (CCO, 2019–2023), Vertex Pharmaceuticals (Vice President, 2008–2019), and Pfizer (1998–2008), and holds a B.A. from Brown University and an M.P.H. from Boston University School of Public Health . Company 2024 performance against pre-set corporate goals was assessed at 135% of target, and cash, cash equivalents and marketable securities increased to $489.9 million as of December 31, 2024 from $360.4 million in 2023, underscoring operational and financing progress during her initial tenure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Albireo Pharma, Inc. | Chief Commercial Officer | Mar 2019 – Apr 2023 | Senior commercial leadership in biopharma |
| Vertex Pharmaceuticals, Inc. | Vice President | Jul 2008 – Mar 2019 | Executive commercial leadership roles |
| Pfizer Inc. | Roles of increasing strategic importance | Oct 1998 – Jun 2008 | Progressive commercial responsibilities |
External Roles
No current public company board roles disclosed for Stephenson in the proxy .
Fixed Compensation
| Metric | 2024 |
|---|---|
| Base salary rate (approved at hire) | $505,000 |
| Salary earned (prorated for start date) | $428,603 |
| Target bonus (% of base) | 40% |
| Sign-on bonus | $40,000 |
| All other compensation (401(k) match) | $10,350 |
| Total compensation | $5,205,054 |
Performance Compensation
Annual Cash Incentive – 2024
| Metric | Target | Actual Achievement | Payout |
|---|---|---|---|
| Annual bonus (% of salary) | 40% | 135% of target | $272,700 (54% of base) |
2024 Corporate Goals (Company-level framework driving payouts)
| Corporate Goal Category | Base Weight (%) | Weighted Actual Performance (%) | Select Achievements |
|---|---|---|---|
| Bitopertin Development | 25% | 60% | Topline Phase 2 AURORA; EoP2 meeting; expedited pathway stretch goal (+40%) |
| DISC-0974 Development | 25% | 25% | MF anemia Ph1b topline; CKD anemia Ph1b topline; manufacturing readiness |
| DISC-3405 Development | 13% | 16% | SAD/MAD complete; EoP1 meeting; preclinical progress (+3%) |
| Certain Early-Stage Development | 5% | 0% | — |
| Finance & Company Building | 32% | 32% | Hiring/retention; filings; conferences; runway into 2027 |
| Total | 100% | 135% (incl. +2% discretionary) |
Long-Term Incentives – New Hire Awards (Inducement)
| Grant Date | RSUs (#) | RSUs Fair Value ($) | Options (#) | Exercise Price ($/sh) | Options Fair Value ($) |
|---|---|---|---|---|---|
| Feb 26, 2024 | 36,666 | $2,370,824 | 55,000 | $64.66 | $2,082,577 |
- Plan design: For 2024 annual awards, mix was 50% stock options and 50% RSUs to balance value certainty and retention with alignment to stock price performance; on-hire options generally vest 25% at 1 year then monthly over 3 years; RSUs generally vest annually over 4 years .
Equity Ownership & Alignment
Beneficial Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| Pamela Stephenson, MPH | 26,217 | <1% (company-defined threshold) |
| Shares outstanding reference (as of Apr 15, 2025) | 34,632,936 | — |
Outstanding Equity Awards at FY 2024 Year-End
| Award Type | Grant Date | Vesting Commencement Date | Unvested/Unexercisable | Exercise Price ($) | Expiration | Market Value ($) |
|---|---|---|---|---|---|---|
| RSUs | 2/26/2024 | 2/15/2024 | 36,666 | — | — | $2,324,624 |
| Stock Options | 2/26/2024 | 2/26/2024 | 55,000 (unexercisable) | 64.66 | 2/25/2034 | — |
- Alignment policies: Hedging and pledging of company securities are expressly prohibited by IRON’s insider trading policy; margin pledges are also disallowed .
- Clawback: Company maintains an incentive compensation recoupment/clawback policy .
Employment Terms
Employment Agreement Highlights
- At-will employment; base salary $505,000; target bonus 40% of base; one-time signing bonus $40,000; inducement grants of 55,000 options and 36,666 RSUs (outside the 2021 Plan per Nasdaq Rule 5635(c)(4)) .
- Salary not subject to decrease, except for an across-the-board reduction up to 10% tied to company financial performance affecting senior management .
- Subject to confidentiality, assignment, non-solicitation and noncompetition policies .
Severance and Change-in-Control Economics (Stephenson)
| Trigger | Cash Severance | Bonus Payment | Equity Acceleration | Health Benefits | Total |
|---|---|---|---|---|---|
| Resignation for Good Reason or Termination Without Cause (outside CoC period) | $378,750 (9 months base) | — | — | $26,690 (9 months) | $405,440 |
| Resignation for Good Reason or Termination Without Cause (within CoC period) | $505,000 (12 months base) | $202,000 (100% target) | RSUs: $2,324,624 (100% acceleration) | $35,586 (12 months) | $3,067,210 |
- CoC structure: Double-trigger (no single-trigger CoC benefits); modified cutback to maximize net benefit if 4999 excise tax applies .
Investment Implications
- High at-risk pay mix and explicit corporate goal framework tie cash incentives to execution milestones; 2024 payout at 135% signals performance alignment and strong program progress .
- New-hire equity (options and RSUs) with standard four-year vesting supports retention; first major vesting cliffs can create mechanical supply (e.g., tax withholding on RSUs) though company prohibits hedging/pledging, mitigating misalignment risks .
- Ownership remains <1%, typical for newly hired executives, with alignment supported by substantial unvested RSUs and options; double-trigger CoC with full time-based RSU acceleration raises event-driven value realization incentives but avoids single-trigger risks and gross-up costs .
- Overall, compensation design emphasizes pay-for-performance with clawback protection, limited perquisites, and market-median targeting, reducing governance red flags while keeping focus on clinical, regulatory, and financing execution that drive enterprise value .