Timothy Lee
Chief Commercial Officer at IVVD
Executive
About Timothy Lee
Timothy Lee, age 51, is Chief Commercial Officer (CCO) of Invivyd, Inc., appointed effective June 5, 2024; he holds a B.S. in Marketing from Saint Joseph’s University and brings 20+ years of biotech and pharma commercialization experience across Amylyx, Biohaven, Alexion, Novartis, and Pfizer . During 2020–2024 at Amylyx, he built launch capabilities and commercial structure that led to the successful commercial launch of Relyvrio for ALS, evidencing execution in rare disease launches . Invivyd’s proxy does not disclose Mr. Lee’s tenure-specific TSR, revenue growth, or EBITDA growth; his 2024 annual bonus was determined under a corporate-goal framework with Company attainment set at 75% by the Board .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Amylyx Pharmaceuticals, Inc. | Head, VP Sales, Commercial Development and Global Commercial Training | Feb 2020–Jun 2024 | Built launch capabilities and commercial structure leading to successful Relyvrio launch for ALS |
| Biohaven Pharmaceuticals | Commercialization strategy for rare disease portfolio | Oct 2017–Feb 2020 | Drove rare disease commercialization strategy |
External Roles
- No external directorships or board roles for Timothy Lee are disclosed in the proxy’s executive officer biographies .
Fixed Compensation
| Item | 2024 | 2025 | Notes |
|---|---|---|---|
| Base Salary Rate ($) | $420,000 | $455,000 | Rate approved by Board; 2025 set in Jan 2025 |
| Actual Salary Paid ($) | $240,423 | — | Prorated due to Jun 2024 start |
| Target Bonus (%) | 40% of base salary | 40% of base salary (policy continues) | Applies to Mr. Lee |
| Corporate Goal Attainment (%) | 75% | — | 2024 attainment set by Board |
| Actual Bonus Paid ($) | $126,000 | — | Paid per 2024 program |
Performance Compensation
Annual Bonus Structure (2024)
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Corporate goals (holistic) | Not weighted | 100% | 75% | $126,000 (Mr. Lee) | Cash bonus; approved Jan 2025 |
Equity Grants (Options)
| Grant Date | Shares | Grant-Date Fair Value ($) | Strike ($) | Expiration | Vesting Schedule |
|---|---|---|---|---|---|
| Jun 4, 2024 | 600,000 | $643,380 | $1.76 | 6/4/2034 | 25% on first anniversary; remainder monthly over 36 months; service-contingent |
Notes:
- Invivyd uses stock options as the primary equity vehicle for executives; grants under the 2021 Equity Incentive Plan; options granted at or above FMV on grant date .
- Equity grant timing is linked to Board/Comp Committee approval; no practice of timing around MNPI; no grants were made near filings in 2024; clawback policy applies to incentive comp under Rule 10D-1/Nasdaq .
Equity Ownership & Alignment
| Ownership Item | Amount | Percent | Date/Context |
|---|---|---|---|
| Beneficial ownership (options exercisable or within 60 days) | 79,166 options | <1% | As of Mar 22, 2025 |
| Options outstanding – exercisable | 0 (as of 12/31/2024) | — | Dec 31, 2024 |
| Options outstanding – unexercisable | 600,000 @ $1.76, exp. 6/4/2034 | — | Dec 31, 2024 |
| Hedging of Company stock | Prohibited for directors and employees | — | Insider Trading Prevention Policy |
| Pledging of Company stock | Not disclosed in proxy | — | No pledging policy mention in cited sections |
Additional alignment notes:
- Stock ownership guidelines for executives are not disclosed in the cited proxy sections; say-on-pay votes are not required while Invivyd is an emerging growth company .
Employment Terms
| Term | Detail |
|---|---|
| Employment Agreement Effective Date | June 5, 2024 (CCO appointment) |
| Base Salary | $420,000 (2024 rate); increased to $455,000 effective Jan 2025 |
| Target Bonus | 40% of base salary |
| Severance (outside CIC) | If terminated without cause or resigns for good reason: 9 months base salary, Earned Bonus if applicable, target bonus for year of termination, 9 months benefits; unvested time-based equity delayed forfeiture until 3 months post-termination; 12-month post-termination option exercise for vested options |
| Severance (during CIC period) | If terminated without cause or resigns for good reason within 3 months before to 12 months after a CIC: 12 months base salary, Earned Bonus if applicable, target bonus, 12 months benefits; immediate full vesting of time-based equity |
| Equity Acceleration | Double-trigger acceleration for time-based equity in CIC termination; no full acceleration solely upon CIC if awards are assumed/continued by successor |
| Clawback | Incentive compensation recovery policy adopted per SEC Rule 10D-1/Nasdaq |
| Non-Compete/Non-Solicit | Not disclosed in cited sections |
| Deferred Compensation/Pension | No deferred comp or pension; participates in 401(k) with 3% non-elective Company contribution |
Investment Implications
- Pay-for-performance alignment: Target bonus set at 40% of base; 2024 corporate-goal attainment at 75% produced a $126k bonus, reflecting moderate payout tied to Board-assessed progress rather than pure financial metrics disclosure .
- Retention risk and supply overhang: New-hire option grant of 600k vests 25% at first anniversary then monthly over three years, creating a steady vesting cadence; beneficially held 79,166 options exercisable or within 60 days as of Mar 22, 2025, suggesting initial near-term vesting/exercise capacity approaching mid-2025 .
- Change-of-control economics: Double-trigger protection (12 months salary + target bonus + benefits, immediate equity vesting) balances retention with potential sale readiness; increases transaction-related cost if a CIC occurs .
- Alignment safeguards: Hedging is prohibited; pledging is not addressed in the cited sections, which is a monitoring point for investors .
- Cash vs equity mix: 2024 total comp skewed to equity (option fair value $643k vs salary $240k and bonus $126k), with 2025 salary rate raised to $455k; continued reliance on time-based options suggests retention emphasis with upside tied to share performance .