Tariq Imam
Senior Vice President, Business Development and Operations and General Counsel at LISATA THERAPEUTICS
Executive
About Tariq Imam
Senior Vice President, Business Development and Operations and General Counsel at Lisata Therapeutics (appointed February 3, 2025; previously Head of Business Development since May 2016 and Corporate Counsel since April 2023). Age 42; education includes A.B. in Politics (Princeton), J.D. (NYU School of Law), and MBA in Finance (NYU Stern) . Company-level performance context over 2022–2024 shows TSR improving from 20.04 to 23.61 and net losses narrowing from $(54)M to $(20)M, indicating execution progress during the period bracketing his tenure start .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mist Pharmaceuticals | Led business and corporate development | Not disclosed | Specialty pharma BD leadership across stages |
| Akrimax Pharmaceuticals | Led business and corporate development | Not disclosed | Specialty pharma BD leadership |
| Rouses Point Pharmaceuticals | Led business and corporate development | Not disclosed | Specialty pharma BD leadership |
| Humana (NYSE: HUM) | Corporate integration/M&A group | Not disclosed | M&A integration responsibilities at a major payer |
| Orion Health | Corporate finance and strategy | Not disclosed | Corporate finance/strategy execution |
| Legal practice (international law firm) | Corporate restructuring, divestitures, insolvency (life sciences) | Not disclosed | Transactional and restructuring expertise |
Fixed Compensation
| Component | Amount/Terms | Source |
|---|---|---|
| Base Salary | $356,000 current base used in severance computations | |
| Target Bonus % | Not disclosed (agreement references 100% of then annual target bonus for severance payout) | |
| Actual Bonus Paid | Not disclosed | — |
Equity Ownership & Alignment
| Metric | Value | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 32,769 | Includes options exercisable within 60 days |
| Options exercisable within 60 days | 8,190 | Included in beneficial ownership |
| Shares outstanding (denominator) | 8,615,655 | Record date April 17, 2025 |
| Ownership as % of outstanding | ~0.38% | 32,769 / 8,615,655 (calculated) |
| Stock ownership guidelines | 1x base salary for Section 16 officers; compliance by June 2028; executives making appropriate progress | |
| Hedging/pledging | Company policy prohibits short sales, margin loans, options, collars/hedges; trades require pre-clearance | |
| Shares pledged | Not disclosed (no pledging permitted per policy) |
Employment Terms
| Scenario | Salary Continuation | Bonus Severance | COBRA | Equity Vesting | Option Exercise Extension | Conditions/Other Terms |
|---|---|---|---|---|---|---|
| Termination without Cause or resignation for Good Reason (non-Change in Control) | 12 months at current base ($356,000) | Lump-sum equal to 100% of then annual target bonus | Monthly reimbursements for 12 months or lump-sum equivalent if plan constraints | No acceleration; extension applies to vested options only | To earlier of 1-year from termination or original expiration | Requires timely execution and non-revocation of general release within 60 days; 409A-conforming; Board determines Cause/Good Reason |
| Termination without Cause or resignation for Good Reason during Change in Control period (within 2 years of effective CoC) | 12 months at current base ($356,000) under Severance Agreement; Amended 8‑K summary additionally provides full vesting on termination during CoC | Lump-sum equal to 100% of then annual target bonus | Monthly premium reimbursements; increased COBRA under CoC terms via summary | Full vesting of all outstanding unvested equity awards, including options (on termination during CoC period) | To earlier of 1-year from termination or original expiration | Board (as constituted pre‑CoC) determines eligibility; 409A compliant; 280G cutback applies; release required |
| Definitions | — | — | — | — | — | “Good Reason” includes material reduction in base salary, material reduction in role/duties, or forced relocation >50 miles (with notice/cure periods); CoC includes ≥30% beneficial ownership change, asset sale, merger changing voting control, board turnover, or approved complete liquidation; jurisdiction NJ; severance plan integration and 409A specifics outlined |
Performance Context (Company-Level)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Value of initial $100 investment (TSR proxy) | 20.04 | 21.63 | 23.61 |
| Net Income (Loss) ($ Millions) | $(54) | $(21) | $(20) |
Governance and Shareholder Signals
- Compensation framework and benchmarking overseen by independent Compensation Committee using Radford/AON; equity plans and severance arrangements reviewed and administered by the Committee .
- 2025 Say‑on‑Pay approval: 3,496,571 for; 551,109 against; 148,160 abstain; 2,231,353 broker non‑votes (one‑year frequency approved) .
Investment Implications
- Alignment: Imam’s ownership (~0.38%) is meaningful for a non‑NEO, supplemented by stock ownership guidelines requiring 1x base salary by 2028; company prohibits hedging/margin which reduces misalignment risk .
- Retention and Change‑in‑Control economics: 12‑month salary plus 100% target bonus and COBRA; double‑trigger equity acceleration on CoC termination and a 1‑year post‑termination option window—robust protection but not a single‑trigger parachute; 280G cutbacks mitigate excessive payouts .
- Selling pressure: No pledging permitted; option exercise window suggests potential post‑termination selling within 12 months, but current agreements encourage retention unless CoC/termination events occur .
- Performance backdrop: Improving TSR and narrowing net losses over 2022–2024 supports a pay‑for‑progress narrative; individual performance metrics tied to Imam’s incentives are not specifically disclosed, limiting direct assessment of his cash/equity incentive alignment .