Matthew Feinsod
About Matthew Feinsod
Matthew Feinsod, M.D., serves as Chief Medical Officer (CMO) of Kalaris Therapeutics (KLRS) and has held this role since the closing of the AlloVir–Kalaris merger on March 18, 2025. He is 54, a board‑certified ophthalmologist with deep clinical development and regulatory strategy experience in ophthalmology and gene therapy. He holds a B.S. from the Wharton School (University of Pennsylvania) and an M.D. from George Washington University School of Medicine. The proxy does not disclose TSR, revenue growth, or EBITDA growth tied to his tenure to date.
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Applied Genetic Technologies Corp. (AGTC) | EVP, Global Strategy & Development | Aug 2019–May 2022 | Led clinical and regulatory strategy, due diligence and licensing for a clinical‑stage gene therapy company (acquired by Syncona in Dec 2022) |
| AGTC | Interim Chief Medical Officer | Sep 2017–Aug 2019 | Oversaw clinical development and regulatory interactions |
| AGTC | Senior leadership (joined) | Jul 2014–2017 | Played key roles in clinical/regulatory strategy and licensing |
| Imagen Biotech (venture‑backed) | Co‑founder & Leader | 2011–2013 | Developed ophthalmology treatments for sight‑threatening diseases |
| Eyetech Pharmaceuticals | SVP, Strategy & Product Development | 2003–2007 | Strategy and product development leadership in ophthalmology |
| U.S. FDA (Ophthalmology Division) | Medical Officer | 2002–2003 | Medical officer in ophthalmology; regulatory perspective |
External Roles
- None disclosed (no current public company directorships or committee roles for Dr. Feinsod noted in the proxy).
Fixed Compensation
| Metric | 2025 |
|---|---|
| Base salary ($) | $471,900 |
| Target annual bonus (% of base) | 40% |
Notes:
- Base salary and bonus targets effective for 2025 following the merger (effective March 18, 2025). Actual bonus payout for 2025 not yet disclosed.
Performance Compensation
| Incentive | Metric(s) | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Bonus (2025) | Strategic, financial and operating objectives (set by Board) | Not disclosed | 40% of base salary | Not disclosed | Annual, subject to performance determination by Board |
| Equity Awards | Time‑based equity awards under company plans; no formal ownership guidelines | Not applicable | Not disclosed | Not disclosed | Time‑based vesting; see CIC acceleration terms below |
Additional policies affecting incentives:
- Clawback: Compensation recovery policy adopted Oct 26, 2023 (SEC/Nasdaq compliant) to recoup incentive‑based comp tied to financial reporting measures during the 3‑year lookback if a restatement is required.
- Grant/plan mechanics: Company maintains equity plans (2020 Plan with evergreen; assumed Legacy Kalaris 2019 Plan at merger close). This context informs potential equity award structure but individual Feinsod grant sizes are not disclosed.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | Dr. Feinsod is not individually listed in the Security Ownership of Certain Beneficial Owners and Management table as of June 25, 2025 (table includes directors and named executive officers). No individual share count for him is disclosed. |
| Ownership guidelines | Company states it does not have formal equity ownership guidelines for executive officers post‑merger. |
| Hedging/derivatives | Insider trading policy expressly prohibits derivative transactions (economic equivalent of ownership) and hedging; policy also addresses pledging/margin risk. |
| Pledging | Policy heading references pledging; text highlights risks of margin/pledging. No explicit blanket prohibition on pledging is stated in the excerpt provided. |
Implication: Absence of formal ownership guidelines reduces forced accumulation requirements; anti‑hedging provisions support alignment by limiting downside‑protection trades. Lack of disclosed individual holdings for Feinsod limits transparency on “skin‑in‑the‑game.”
Employment Terms
| Scenario | Cash Severance | Bonus | COBRA | Equity Acceleration |
|---|---|---|---|---|
| Termination without Cause / Resignation for Good Reason (outside CIC window) | 9 months base salary (≈0.75x) | None specified | Company‑paid share of premiums up to 9 months | None specified |
| Change in Control (CIC) Double‑Trigger: termination within 3 months before or 12 months after CIC | 12 months base salary (1.0x) | Lump‑sum = 100% of target bonus (year of termination or pre‑CIC target if higher) | Company‑paid share of premiums up to 12 months | Accelerated vesting of all then‑unvested time‑based equity awards (full acceleration) |
Additional terms:
- Severance contingent on timely execution of release and ongoing compliance with restrictive covenant agreements.
- CMO appointment aligned to merger closing date (March 18, 2025).
Investment Implications
- Pay mix and at‑risk structure: Base salary ($471.9k) with a 40% target bonus ties cash pay to annual operating and strategic objectives; however, specific performance metrics/weightings are not disclosed, limiting external assessment of pay‑for‑performance rigor.
- Retention and transaction dynamics: Double‑trigger CIC terms (12m salary + 100% target bonus + time‑based equity acceleration) provide protection in strategic transactions while avoiding single‑trigger windfalls; non‑CIC severance of 9 months salary offers baseline retention support.
- Alignment and selling pressure: No formal executive ownership guidelines and time‑based vesting could permit earlier monetization cycles, but hedging via derivatives is prohibited; absence of Feinsod’s disclosed holdings impedes assessment of his personal exposure to share price outcomes.
- Governance and risk controls: Company maintains a clawback compliant with SEC/Nasdaq, reducing incentive to overstate financial results; insider trading policy restricts derivative hedging and addresses pledging risks.
- Execution capability: Track record spans FDA, big‑cap ophthalmology development (Eyetech), and gene therapy leadership (AGTC), aligning domain expertise with KLRS’s clinical ambitions; this reduces execution risk in CMO scope though outcome metrics during his short tenure are not yet disclosed.