Mert Aktar
About Mert Aktar
Mert Aktar, 46, is an independent Class III director of Kyverna Therapeutics (KYTX) since October 2024, with a term expiring at the 2027 annual meeting. He is a life sciences dealmaker and operator with >20 years across cell therapy, gene therapy, and immunology; he holds an MBA from MIT Sloan, a B.S. in Chemical Engineering (WPI), and an M.S. in Engineering Management (Tufts). He currently serves on KYTX’s Audit and Science & Technology Committees, and is CEO of Receptive Bio, Inc. .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Receptive Bio, Inc. | Chief Executive Officer | Feb 2024–present | Private biotech; operating experience bridging science and business |
| Kite Pharma, Inc. (Gilead company) | SVP & Global Head, Corporate Development & Strategy | Apr 2020–Sep 2023 | Led deals to strengthen R&D, Asia expansion; enabled first autologous cell therapy approval in China; Yescarta rights transfer and Japan approval/launch |
| Unum Therapeutics Inc. | VP & Head, Business Development & Corporate Development | May 2019–Mar 2020 | BD leadership in oncology cell therapy |
| Shire plc (now Takeda) | Senior BD leadership; Global Head Hematology & Immunology BD | Apr 2011–May 2019 | Facilitated Baxalta and Dyax acquisitions; orchestrated inaugural SEC-registered debt offering |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| ReAlta Life Sciences, Inc. | Director | Jan 2024–present | Board role at a life sciences company |
| Receptive Bio, Inc. | Chief Executive Officer | Feb 2024–present | Operating CEO role (private company) |
Board Governance
- Committee assignments: Audit Committee member (Chair: Daniel K. Spiegelman); Science & Technology Committee member (Chair: Fred E. Cohen, M.D., D.Phil.). Not on Compensation or Nominating Committees .
- Independence: Board determined Aktar (and a majority of directors) are independent under Nasdaq standards; independent directors meet in regularly scheduled executive sessions .
- Attendance: In 2024, the Board met 10 times; committees met regularly; each director attended at least 75% of the meetings of the Board and applicable committees .
- Board structure: Independent Chair (Ian Clark) separate from CEO, supporting oversight and management focus .
Fixed Compensation
Program terms (implemented in connection with IPO; pro-rated in 2024):
| Component | Amount | Notes |
|---|---|---|
| Annual director cash retainer | $40,000 | Paid quarterly in arrears |
| Independent Chair add’l retainer | $35,000 | Role-specific |
| Audit Committee member | $10,000 | Chair: $20,000 |
| Compensation Committee member | $7,500 | Chair: $15,000 |
| Nominating & Corporate Governance member | $5,000 | Chair: $10,000 |
| Science & Technology member | $7,500 | Chair: $15,000 |
2024 actual (appointed October 20, 2024):
| Metric | 2024 |
|---|---|
| Fees earned or paid in cash ($) | $11,284 |
| Option awards grant-date fair value ($) | $349,841 |
| Total ($) | $361,125 |
| Shares underlying director option awards at 12/31/2024 | 87,741 |
Performance Compensation
Equity awards structure for non-employee directors:
- Initial grant (pre-March 25, 2025): Option valued at $350,000 divided by grant-date fair value; vests 1/36 monthly over 3 years; Aktar’s 2024 option award fair value was $349,841; 87,741 underlying shares as of 12/31/2024 .
- Restated program (effective March 25, 2025): New directors receive an option ($262,500 fair value) vesting monthly over 3 years plus RSUs ($87,500) vesting 1/3 each year over 3 years; annual meeting grants for continuing directors provide either an option ($131,250) or RSUs ($43,750) vesting on the next annual meeting/1 year, subject to service .
- Change-in-control: All outstanding director equity awards vest in full upon a change-in-control under the Restated program .
Performance metrics linked to director compensation:
| Award type | Performance metrics | Vesting basis |
|---|---|---|
| Director options/RSUs | None disclosed | Time-based per program summaries |
Other Directorships & Interlocks
| Company | Role | Since | Interlock/Network Notes |
|---|---|---|---|
| ReAlta Life Sciences, Inc. | Director | Jan 2024 | External board seat |
| Kite Pharma, Inc. | Former SVP & Global Head, Corp Dev & Strategy | Apr 2020–Sep 2023 | Kite is a Gilead company; Gilead holds 9.5% of KYTX, indicating potential industry network ties (no related-party transaction disclosed for Aktar) . |
Expertise & Qualifications
- Transactional and strategic leadership in cell therapy across Asia, China, and Japan approvals and launches; experience in BD for hematology/immunology and oncology .
- Education: MBA (MIT Sloan), M.S. Engineering Management (Tufts), B.S. Chemical Engineering (WPI) .
- Board-level science and technology oversight as committee member; financially literate for Audit Committee service per Nasdaq standards (Board determined) .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (shares) | 14,623 (all via options exercisable within 60 days of March 15, 2025) |
| Ownership as % of shares outstanding | <1% (asterisk as shown) |
| Options exercisable within 60 days | 14,623 |
| Total director option awards outstanding at 12/31/2024 | 87,741 |
| Hedging/pledging | Company policy prohibits hedging, pledging, short sales, and derivatives by covered individuals |
Governance Assessment
- Strengths: Independent director with dual committee service (Audit; Science & Technology), adding financial oversight and technical depth; Board confirms independence; attendance threshold met; company prohibits hedging/pledging, supporting alignment .
- Alignment: Compensation mix is equity-heavy (2024: ~$349.8k equity vs ~$11.3k cash), supporting long-term alignment; annual grants structured with time-based vesting and clear CoC treatment .
- Conflicts/related-party exposure: No related party transactions involving Aktar disclosed; prior affiliation with Kite (Gilead company) noted, while Gilead is a KYTX holder; Board independence assessment mitigates interlock concerns .
- Risk indicators: Not named among directors/officers in the December 2024 shareholder class action; Audit Committee oversight of related party transactions and financial controls in place .
- Observations: As an emerging growth company, KYTX does not conduct say-on-pay, and director equity awards vest fully on change-of-control under the restated program—investors should monitor future grant elections (options vs RSUs) and potential dilution from plan “evergreen” features .