Jason Adair
LiquidiaAbout Jason Adair
Jason Adair is Chief Business Officer at Liquidia, responsible for corporate development, strategy, investor relations, communications, and collaboration/licensing initiatives. He joined Liquidia in January 2016 and was serially promoted from VP Corporate Development & Strategy to SVP (2022) and Chief Business Officer (2023). He holds an MBA from Dartmouth’s Tuck School of Business and a BS in Chemistry from Wake Forest University . As of the 2024 and 2025 record dates, Adair’s age is disclosed as 52 and 53, respectively . Company-wide performance context: Liquidia’s Compensation Committee determined corporate goal achievement of 150% for 2023 and 72% for 2024, informing annual bonus outcomes for named executive officers and the broader Bonus Plan environment .
Age by Proxy Year
| Proxy Year | Age |
|---|---|
| 2024 | 52 |
| 2025 | 53 |
Corporate Bonus Performance Outcomes
| Year | Corporate Goals Achievement (%) |
|---|---|
| 2023 | 150% |
| 2024 | 72% |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Liquidia | VP → SVP Corporate Development & Strategy → Chief Business Officer | 2016–2023 promotions | Led BD, strategy, IR, comms; advanced collaboration/licensing |
| BioCryst Pharmaceuticals | Executive Director, Corporate Development | Not disclosed | Led commercial launch and partnering of first FDA-approved influenza drug; managed alliances in Japan, Korea, Israel, UK |
| MedImmune/AstraZeneca | Business development, marketing, operations (increasing responsibility) | Not disclosed | Built BD and commercial capabilities across biologics |
| Syngenta | Analytical Chemist | Not disclosed | Technical/analytical foundation prior to pharma |
| U.S. Army | Officer | Not disclosed | Leadership experience |
External Roles
No public company directorships or board committee roles for Adair are disclosed in the latest proxies or corporate leadership pages .
Fixed Compensation
- Adair is not listed among the “named executive officers” (NEOs) in 2023–2024 or 2024–2025 proxies; Liquidia follows reduced executive compensation disclosure rules for smaller reporting companies, and SCT details cover CEO, CFO/COO, and General Counsel, not Adair .
- Base salary, target bonus %, and actual bonus paid for Adair are not disclosed in the available filings; the Employee Bonus Plan governs broader employee bonus eligibility at Committee discretion .
Performance Compensation
| Component | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Bonus Plan (company-wide policy) | Corporate goals (aggregate) | Not disclosed | 100% | 150% (2023) | NEO payouts referenced; Adair’s payout not disclosed | Cash at payout per Bonus Plan |
| Annual Cash Bonus Plan (company-wide policy) | Corporate goals (aggregate) | Not disclosed | 100% | 72% (2024) | NEO payouts referenced; Adair’s payout not disclosed | Cash at payout per Bonus Plan |
- Performance metrics detail/weights are not enumerated; the Compensation Committee retains discretion and administers payouts under the Bonus Plan .
- Clawback Policy: Incentive compensation tied to financial reporting is subject to recovery upon restatements per Nasdaq rules (three-year lookback) .
Equity Ownership & Alignment
- Beneficial ownership: Adair is not a director or NEO and does not appear in beneficial ownership tables; total beneficial holdings for him are not disclosed .
- Anti-hedging/anti-pledging: Company policy prohibits short sales, pledging without CFO approval, options transactions, and various risk-reduction devices, strengthening alignment and limiting hedging/pledging risks .
Employment Terms
- Executive Severance & Change in Control Plan (Amended and Restated May 2024): Participants are assigned tiers; benefits vary by tier and CIC timing. Adair’s tier is not disclosed, but typical economics are summarized below .
Severance Plan Summary (May 2024)
| Scenario | Tier 1 | Tier 2 | Tier 3 | Tier 4 |
|---|---|---|---|---|
| Involuntary Termination outside CIC | 18 months base salary; COBRA 18 months; accrued obligations; target annual incentive for Tier 1 only | 12 months base salary; COBRA 12 months; accrued obligations | 9 months base salary; COBRA 9 months; accrued obligations | 6 months base salary; COBRA 6 months; accrued obligations |
| Involuntary Termination within CIC Period (3 months pre–12 months post) | Lump sum: 24 months base salary + target annual incentive; 100% vesting of unvested equity; COBRA lump sum (24 months differential); accrued obligations | Lump sum: 12 months base salary + target annual incentive; 100% vesting; COBRA lump sum (12 months differential); accrued obligations | Lump sum: 9 months base salary + target annual incentive; 100% vesting; COBRA lump sum (9 months differential); accrued obligations | Lump sum: 6 months base salary + target annual incentive; 100% vesting; COBRA lump sum (6 months differential); accrued obligations |
- Prior Severance Plan (June 2020): 6 months salary + COBRA outside CIC; 9 months salary + 9/12 of target bonus + COBRA in CIC; superseded by May 2024 plan .
- Non-compete/non-solicit: Executive-specific covenants are disclosed for CEO; no Adair-specific employment agreement terms are disclosed in available filings .
Investment Implications
- Alignment: Long-tenured internal promotion path and anti-hedging/anti-pledging policy reduce misalignment risk; absence of disclosed pledging and personal hedging is consistent with policy .
- Retention risk: The May 2024 Severance Plan’s double-trigger CIC protection with full equity acceleration and meaningful cash multiples for Tiered participants enhances retention around strategic events; Adair’s exact tier is not disclosed, but CBO role likely qualifies for participation if designated by the Committee .
- Compensation transparency: As a non-NEO, Adair’s specific fixed and variable compensation inputs (salary, target bonus, RSU/option grants) are not disclosed, limiting direct pay-for-performance assessment from public filings .
- Execution context: Corporate environment featured milestone progress—e.g., FDA approval of YUTREPIA in May 2025 and scheduling of first commercial shipments in June 2025—providing tailwinds for BD/market access initiatives aligned to Adair’s remit .