Jeremy Chadwick
About Jeremy Chadwick
Jeremy Chadwick, Ph.D., is Chief Operating Officer of Kymera Therapeutics, serving since May 22, 2023; he is 62 as of March 31, 2025 and holds an M.S. and Ph.D. in Statistics from the University of London and a B.S. in Mathematics from De Montfort University, U.K. . He brings 30+ years in life sciences, previously leading global development operations and regulatory functions at Takeda and Shire and senior roles at The Medicines Company, Synta Pharmaceuticals, Vertex, and Glaxo Group Research . Kymera’s 2024 executive bonus program paid out between 110%–135% of target based on corporate and individual performance (Chadwick’s payout was 110% of target), with corporate goals split 55% pipeline advancement and 45% company growth .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Takeda Pharmaceutical Company Limited | SVP, Head of Global Development Office R&D; Head of Global Regulatory Affairs (2019–2022) | Jan 2019–May 2023 | Managed Global Drug Safety, Global Clinical Supply Chain and groups supporting Global Development Operations; led Global Regulatory Affairs |
| Shire Pharmaceuticals (pre-Takeda acquisition) | Group VP & Head of Clinical Development Operations | Dec 2012–Jan 2019 | Led clinical development operations during period culminating in Takeda acquisition |
| The Medicines Company; Synta Pharmaceuticals; Vertex Pharmaceuticals; Glaxo Group Research | Senior development roles (program management, development operations, regulatory affairs, biostatistics, data management) | Earlier career (years not disclosed) | Broad cross-functional development leadership across multiple biopharma innovators |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Accumulus Synergy | Chairman of the Board (prior service) | Not disclosed | Global data exchange platform to enhance biopharma–regulator interactions |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of Salary) | Target Bonus ($) | Actual Bonus Paid ($) |
|---|---|---|---|---|
| 2024 | 490,000 | 40% | 196,000 | 215,600 |
| 2023 | 295,385 (partial year) | 40% | 192,000 (annual target; prorated for 2023 service) | 117,830 |
Performance Compensation
| Plan / Metric | Weighting | Target | Actual / Structure | Payout / Vesting |
|---|---|---|---|---|
| 2024 Annual Corporate Goals (Pipeline Advancement) | 55% | Included advancing STAT6 (KT-621) Phase 1 HV; nominating TYK2 (KT-295); supporting KT-474 Phase 2 expansion; pipeline investment towards 10 INDs by 2026 | Achieved (contributed to 135% company bonus pool) | Cash paid; Chadwick’s bonus factor 110% of target; paid 215,600 |
| 2024 Annual Corporate Goals (Company Growth) | 45% | Capital raised ~$600M gross; runway to mid-2027; preclinical pipeline expansion; operational excellence; publications/conferences; employee engagement | Achieved (part of 135% pool) | Cash paid; see above |
| 2025 Performance Stock Units (PSUs) | Milestone tranches: 40% / 40% / 20% | Target PSUs granted to NEOs (exact number per individual not disclosed) | Vests upon achievement of three clinical milestones; 0–100% of Target Amount; none may vest before first anniversary of grant | Equity vesting contingent on milestones; no vesting before first anniversary |
Equity Ownership & Alignment
- Anti-hedging/pledging: Company policy prohibits hedging, pledging, short selling, margin transactions; no waiver requests to date (strong alignment) .
- Clawback: Compensation recovery policy adopted (effective Nov 1, 2023), requiring recovery of incentive-based compensation upon required restatements per Nasdaq rules .
Beneficial Ownership (as of March 31, 2025)
| Holder | Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| Jeremy Chadwick, Ph.D. | 152,480 | * (<1%) |
Outstanding Equity Awards at FY2024 Year-End (Dec 31, 2024)
| Grant | Vesting Start | Options Exercisable (#) | Options Unexercisable (#) | Exercise Price ($) | Expiration | Unvested RSUs (#) | Market Value of Unvested RSUs ($) |
|---|---|---|---|---|---|---|---|
| 5/22/2023 Option | 5/22/2023 | 79,166 | 120,834 | 29.64 | 5/21/2033 | — | — |
| 5/22/2023 RSU | 5/22/2023 | — | — | — | — | 25,000 | 1,005,750 |
| 3/1/2024 Option | 3/1/2024 | 20,137 | 60,411 | 43.50 | 2/28/2034 | — | — |
| 3/1/2024 RSU | 3/1/2024 | — | — | — | — | 13,425 | 540,088 |
Vesting schedules: New-hire options vest 25% at first anniversary then monthly over 36 months; new-hire RSUs vest 25% annually over four years; annual options vest monthly over three years; annual RSUs vest annually over three years .
2024 Realized Equity
| Metric | Quantity | Value Realized ($) |
|---|---|---|
| RSUs vested | 8,333 | 297,488 |
| Options exercised | 0 | 0 |
Employment Terms
| Provision | Standard Termination (without cause / good reason) | Change-in-Control Termination (within 12 months) |
|---|---|---|
| Cash severance | 9 months base salary (367,500 at 2024 base) | Lump sum 1× (base salary + target bonus) (686,000 at 2024 levels) |
| Healthcare (COBRA) | Company-paid portion up to 9 months | Company-paid portion up to 12 months |
| Equity acceleration | None | 100% acceleration of time-based options/stock awards |
| Clawback | Recovery of incentive-based compensation upon restatement (Nasdaq-compliant) | |
| Indemnification | Standard indemnification agreement for officers | |
| Tax gross-ups | None in executive agreements |
Compensation Structure and Grants
| Element | 2023 | 2024 |
|---|---|---|
| Annual equity awards | New-hire grant: 200,000 options @ $29.64 and 33,333 RSUs (grant-date FV: $3,588,789 options; $987,990 RSUs) | Annual grant: 80,548 options and 13,425 RSUs (peer-aligned between 50th–75th percentile) |
| Mix and philosophy | Majority “at risk” via equity; targets around 50th percentile; CEO 100% options; NEOs blend of options/RSUs | Introduction of PSUs in 2025 to further tie pay to long-term clinical performance |
Say-on-Pay & Governance
- Say-on-Pay approvals: 91% (2023) and 94% (2024) shareholder support .
- Compensation consultant: Alpine Rewards; determined independent; peer benchmarking used .
- Committee: Compensation & Talent Committee chaired by Jeffrey Albers; 5 meetings in FY2024; double-trigger CIC protection; no repricing; anti-hedging/anti-pledging maintained .
Risk Indicators & Red Flags
- Related-party transactions: None involving Chadwick reported at appointment; no Item 404(a) transactions .
- Hedging/pledging: Prohibited; no waivers .
- Tax gross-ups: None .
- Option repricing: None absent shareholder approval .
Investment Implications
- Alignment: High equity mix with clear vesting schedules and anti-hedging/pledging/clawback policies indicate strong alignment with shareholders; PSUs tied to clinical milestones (40/40/20) add performance sensitivity into 2025+ awards .
- Retention: Standard severance (9 months) plus substantial unvested equity and monthly/annual vesting cadence reduce near-term departure risk; CIC provides full time-based acceleration and 1× salary+target bonus .
- Selling pressure: Annual RSU vesting (e.g., 8,333 vested in 2024) and ongoing monthly option vesting can create periodic supply; monitor upcoming vest dates from 5/22 anniversary and 3/1 annual tranches .
- Ownership: Direct beneficial ownership is small (<1%), but option/RSU overhang and performance equity are the principal economic exposure; policy restrictions mitigate misalignment risk .
- Governance support: Strong say-on-pay results (91–94%) and independent committee/consultant suggest limited governance overhang; pay designed around 50th–75th percentile peer positioning .