David Lee
About David K. Lee
Independent director at iTeos Therapeutics since December 2023; Class I director with term through the 2027 annual meeting. Age 43 (as of April 24, 2025). Currently CEO of Servier Pharmaceuticals (U.S. unit of Servier Group). Education: A.B. in Biochemistry (Harvard) and MBA (Harvard Business School). The Board has determined he is independent under Nasdaq and SEC rules. Core credentials: biopharma general management and drug development leadership.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Shire plc | Global Head of Oncology and Rare Diseases | Not disclosed | Led cross-functional teams; oversaw successful approvals across multiple therapeutic areas |
| Baxter International / Baxalta | Leadership roles | Not disclosed | Biopharma operating leadership |
| GSK plc | Leadership roles | Not disclosed | Biopharma operating leadership |
| Novartis AG | Leadership roles | Not disclosed | Biopharma operating leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Servier Pharmaceuticals (Servier Group) | Chief Executive Officer | Since inception in 2018 | Current operating CEO role |
Board Governance
- Board class/tenure: Class I; term expires at 2027 annual meeting; director since 2023. Independent director.
- Committee assignments: Audit Committee member (Chair: Ann D. Rhoads). Not a member of Compensation & Leadership Development, Nominating & Corporate Governance, or Science & Technology Committees.
- Attendance and engagement:
- Board met 6 times in 2024; Audit Committee met 5 times. Each director attended at least 75% of Board and assigned committee meetings in 2024. All directors attended the 2024 annual meeting.
- Board leadership: Chair of the Board is David L. Hallal; CEO role is separate, consistent with iTeos’ current leadership structure.
Fixed Compensation (Director)
| Component | Policy Amount | 2024 Actual – David K. Lee |
|---|---|---|
| Annual Board retainer (cash) | $40,000 | $39,110 fees earned/paid in cash |
| Audit Committee member fee | $7,500 (member); $15,000 (chair) | Included in cash total above |
| Other committee fees | Comp: $6,000 member/$12,000 chair; NCG: $5,000 member/$10,000 chair; S&T: $7,500 member/$15,000 chair | Not applicable (not a member) |
Notes:
- Director cash fees are pro-rated based on service and committee roles; Lee’s 2024 cash reflects his Board and Audit Committee service. The Board updated committee retainers in 2024.
Performance Compensation (Director Equity)
| Item | Detail |
|---|---|
| 2024 Annual equity grant | Option to purchase 24,200 shares (grant date June 11, 2024); designed around ~75th percentile vs. peers; vests in full on June 11, 2025 (time-based). |
| 2024 Option award fair value (ASC 718) – David K. Lee | $280,962 |
| Equity mix/accelerated vesting | Director Initial/Annual awards may be options, RSUs, RSAs or combo at Board discretion; subject to full accelerated vesting upon a sale of the company (while serving). |
Performance metrics: Director equity awards are time-based; no performance metrics disclosed for director awards.
Other Directorships & Interlocks
- Current public company directorships: None disclosed for David K. Lee in the proxy.
- Compensation committee interlocks: None—company states no interlocks in 2024.
- Related-party exposure: No related-party transactions disclosed involving Lee; the only disclosed related-party transactions in 2024 involved RA Capital and Boxer Capital (not Lee).
Expertise & Qualifications
- Strategic/operating expertise leading branded biopharma businesses and oncology/rare disease portfolios.
- Financial literacy: All Audit Committee members meet SEC/Nasdaq financial literacy requirements (Lee is a member).
- Academic credentials: Harvard A.B. (Biochemistry); Harvard Business School MBA.
Equity Ownership
| Measure | Amount | Notes/Date |
|---|---|---|
| Beneficial ownership (as % of shares outstanding) | <1% | As of April 21, 2025; “*” denotes <1% in the table |
| Beneficially owned shares counted | 46,582 | Consists solely of options exercisable within 60 days of April 21, 2025 |
| Total options held (Dec 31, 2024) | 68,966 options | Company disclosure as of 12/31/2024 |
Policies impacting alignment:
- Insider trading policy prohibits short sales, derivative transactions, and hedging; discusses risks of margin/pledging. No specific pledging by Lee disclosed.
Governance Assessment
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Strengths for investor confidence
- Independence and audit committee service: Lee is independent and serves on Audit, supporting financial oversight and risk monitoring. Attendance thresholds were met.
- Alignment via equity: Director pay emphasizes equity (options), with one-year vesting and sale-event acceleration, aligning incentives with shareholder outcomes.
- No conflicts disclosed: No related-party transactions or interlocks involving Lee; comp committee interlocks explicitly none.
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Watch items
- Overboarding policy: While iTeos does not impose explicit board limits, the Nominating & Corporate Governance Committee monitors time commitments. No overboarding concern disclosed for Lee (no other public boards listed).
- Hedging/pledging: Policy prohibits hedging/derivatives and flags pledging risks broadly; no individual exceptions noted.
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RED FLAGS: None identified in the proxy regarding Lee (no low attendance, no related-party transactions, no legal proceedings disclosed).