Ramandeep Singh
LiquidiaAbout Ramandeep Singh
Ramandeep Singh (age 54) is an independent director of Liquidia Corporation, serving since the company’s formation in June 2020 and previously on the Liquidia Technologies board since February 2018 . He is Chief Executive Officer of Juniper Biologics (since December 2020) and brings extensive emerging-markets and commercial leadership from prior roles at Mundipharma (CEO, 2011–Dec 2020), GSK (VP commercial operations, emerging markets), Abbott (regional director ANZ; GM Korea), and Bayer . His education includes a Bachelor’s in Mechanical Engineering (Osmania University), a Master’s in International Management (Thunderbird School of Global Management), and an MBA (Assumption University) . The Liquidia board has affirmatively determined his independence under Nasdaq rules and heightened audit committee independence standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mundipharma Pte Limited | Chief Executive Officer | 2011–Dec 2020 | Led multiple therapeutic areas including analgesia, oncology, respiratory; regional commercial leadership |
| GSK (Emerging Markets) | Vice President, Commercial Operations | Pre-2011 (dates not specified) | Oversaw commercial operations across emerging markets |
| Abbott | Regional Director (Australia & New Zealand); General Manager (Korea) | Dates not specified | Country-level P&L and market leadership |
| Bayer | Sales, marketing, strategy roles | Dates not specified | Commercial and strategic roles in pharma |
External Roles
| Organization | Role | Tenure | Public/Private | Notes |
|---|---|---|---|---|
| Juniper Biologics | Chief Executive Officer | Dec 2020–present | Private | Focus: Oncology, gene therapy, rare diseases |
| Neuroglee Therapeutics, Inc. | Board Director | Current | Private | Cognitive therapeutics; private company board |
Board Governance
- Independence: Board determined Singh is independent under Nasdaq listing standards; also independent for Audit Committee under SEC Rule 10A-3 and Nasdaq heightened standards .
- Committee memberships (current): Audit Committee (member); Nominating & Corporate Governance Committee (member) .
- Committee chairs: None; Audit chaired by Arthur Kirsch; Nominating & Corporate Governance chaired by Stephen Bloch, M.D. .
- Attendance and engagement: The Liquidia board met 6 times in FY2024; other than Paul Manning, no director attended fewer than 75% of aggregate board and committee meetings—Singh met ≥75% attendance .
- Committee activity: Audit Committee met 5 times in 2024; Compensation Committee met 5 times; Nominating & Corporate Governance Committee met 4 times .
Fixed Compensation
| Component | Amount (USD) | FY |
|---|---|---|
| Board member annual cash retainer | $50,000 | 2024 |
| Audit Committee member fee | $10,000 | 2024 |
| Nominating & Corporate Governance Committee member fee | $5,000 | 2024 |
| Total cash fees earned (actual) | $65,000 | 2024 |
Notes:
- Standard non-employee director cash fee schedule: Board member $50,000; Audit member $10,000; Nominating & Corporate Governance member $5,000; chair adders apply to chairs only (not Singh) .
Performance Compensation
| Equity Type | Grant Policy / Vesting | 2024 Grant Value (USD) |
|---|---|---|
| Annual RSUs | $250,000 RSUs per director; vest on the earlier of 1-year anniversary or the day prior to the next annual shareholder meeting, subject to Committee approval | $250,009 (grant-date fair value) |
| Outstanding Equity (as of 12/31/2024) | Quantity |
|---|---|
| Stock options (director awards outstanding) | 140,010 |
| RSUs (director awards outstanding) | 20,359 |
Other Directorships & Interlocks
| Company | Public? | Role | Potential Interlocks/Conflicts |
|---|---|---|---|
| Neuroglee Therapeutics, Inc. | Private | Director | No disclosed transactions with Liquidia; no disclosed related-party exposure |
| Juniper Biologics | Private | CEO | Operates in life sciences; no disclosed related-party transactions with Liquidia |
- Related-party transactions: 2024–2025 disclosures show offerings involving Caligan (David Johnson) and PBM (Paul Manning) but none involving Singh . Liquidia maintains a related-person transaction policy overseen by independent directors on the Audit Committee .
Expertise & Qualifications
- Deep commercial leadership across global/emerging markets and specialty therapeutics (Mundipharma, GSK, Abbott, Bayer) .
- Current operator in oncology/gene therapy/rare diseases (Juniper Biologics CEO) .
- Academic credentials across engineering and international management/MBA (Osmania; Thunderbird; Assumption) .
- Audit Committee service with financial literacy required; not designated as the audit committee financial expert (Kirsch designated) .
Equity Ownership
| Holder | Form of Ownership | Shares/Units | % of Outstanding |
|---|---|---|---|
| Ramandeep Singh | Options/RSUs exercisable/vesting within 60 days of Record Date | 153,702 | <1.0% (based on 85,448,787 shares outstanding) |
- Anti-hedging/anti-pledging: Company policy prohibits hedging and pledging of company stock by directors without CFO approval; short sales and certain derivatives are prohibited .
- Section 16 compliance: All required insider ownership reports timely filed for FY2024; no late filings disclosed .
Governance Assessment
- Strengths:
- Independent director with dual committee roles (Audit; Nominating & Corporate Governance) and ≥75% attendance, indicating engagement .
- Equity-heavy director pay aligns incentives with shareholder value (2024: $250,009 RSUs vs $65,000 cash) .
- No disclosed related-party transactions or pledging/hedging; robust insider trading and anti-pledging policies .
- Watch items:
- Significant external operating role (CEO, Juniper Biologics) could pose time-commitment considerations; ongoing attendance threshold was met in 2024 but should be monitored across product launch cycles .
- Not designated as audit committee financial expert (Kirsch holds designation), though Singh meets independence and financial literacy standards; committee composition mitigates this .
Director Compensation (Detail)
| Metric | 2024 |
|---|---|
| Cash fees earned | $65,000 |
| RSU grant-date fair value | $250,009 |
| Total | $315,009 |
Committee Assignments
| Committee | Role | Chair? | Meetings in 2024 |
|---|---|---|---|
| Audit | Member | No (Chair: Arthur Kirsch) | 5 |
| Nominating & Corporate Governance | Member | No (Chair: Stephen Bloch, M.D.) | 4 |
Insider Trades
- Section 16(a) reporting: Company states all director/officer filings were timely in FY2024; no late reports identified .
Independence & Attendance
| Attribute | Status |
|---|---|
| Nasdaq director independence | Independent |
| Audit committee heightened independence | Independent |
| Board attendance threshold (FY2024) | ≥75% (only Paul Manning <75%) |
Related Party & Conflicts
- No Singh-specific related-party transactions disclosed for 2024–2025 .
- Company policy requires independent review/approval for any related-person transactions; Audit Committee independent, disinterested members oversee such reviews .
Compensation Structure Signals
- Directors compensated via standardized cash retainers and annual RSUs with one-year/next-AGM vesting, aligning with service periods and shareholder meeting cadence .
- Use of independent compensation consultant (FW Cook) for executive and director compensation oversight .
Say-on-Pay & Shareholder Feedback
- 2025 advisory vote on NEO compensation included in proxy; results not yet available at time of filing . Executive compensation oversight by independent Compensation Committee with peer review and risk alignment .
Summary Implications for Investors
- Singh’s independence, committee coverage (Audit and Nominating), and equity-aligned pay support board effectiveness and shareholder alignment .
- No disclosed conflicts or related-party exposure involving Singh; anti-hedging/anti-pledging policy reduces alignment risk .
- Monitor ongoing attendance and engagement given external CEO role; FY2024 attendance threshold met .