Eric Bjerkholt
About Eric Bjerkholt
Eric Bjerkholt, age 65, was appointed as an independent Class II director of Metagenomi, Inc. (MGX) effective January 27, 2025, and currently chairs the Audit Committee while serving on the Compensation and Nominating & Corporate Governance Committees . He is the CFO of Mirum Pharmaceuticals (since September 2023) and previously served as CFO of Chinook Therapeutics (November 2020–August 2023) and Aimmune Therapeutics (April 2017–November 2020), with 13 years at Sunesis Pharmaceuticals in senior finance and governance roles; he holds a Cand. Oecon in economics (University of Oslo) and an MBA from Harvard Business School . The Board determined he is independent under Nasdaq rules and has designated him an “audit committee financial expert” .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mirum Pharmaceuticals, Inc. | Chief Financial Officer | Sep 2023–present | Executive leadership in finance, investor relations, controls |
| Chinook Therapeutics, Inc. | Chief Financial Officer | Nov 2020–Aug 2023 (acquired by Novartis Aug 2023) | Oversaw reporting, planning, internal controls, IR; transaction experience |
| Aimmune Therapeutics, Inc. | Chief Financial Officer | Apr 2017–Nov 2020 (acquired by Nestlé Health Science) | Public company CFO through acquisition |
| Sunesis Pharmaceuticals, Inc. | EVP Corp Dev & Finance; CFO; Corporate Secretary; Chief Compliance Officer | 2004–2017 | Multifunctional governance and compliance responsibilities |
| J.P. Morgan & Co., Inc. | Investment Banker (Healthcare) | ~7 years | Capital markets and advisory experience |
| IntraBiotics; LifeSpring Nutrition; Age Wave | Senior executive finance roles | N/A | Operating finance leadership |
External Roles
| Company | Role | Tenure/Status | Notes |
|---|---|---|---|
| Surrozen, Inc. | Director | Current | Public biotech board seat |
| Cerus Corporation | Director | Current | Public biotech board seat |
| CalciMedica, Inc. | Director; Audit Committee Chair | Sep 2020–Jan 2025 (prior) | Prior public board and audit chair experience |
Board Governance
- Committee assignments: Audit (Chair); Compensation (Member); Nominating & Corporate Governance (Member) .
- Independence: Board determined Bjerkholt is independent under Nasdaq rules; no related-party transactions or arrangements; no family relationships with MGX directors/officers .
- Audit committee expertise: Board designated Bjerkholt as an “audit committee financial expert” .
- Attendance context: In 2024, prior to his appointment, MGX’s Board met 11 times and each incumbent director attended ≥75% of applicable meetings; independent directors held executive sessions at each regularly scheduled Board meeting .
- Committee activity levels (context): Audit met 4 times; Compensation met 3 times; Nominating & Corporate Governance met 3 times in 2024 .
Fixed Compensation
| Component | Amount (USD) | Basis |
|---|---|---|
| Annual Board Retainer (Director) | $40,000 | Non‑employee director policy |
| Audit Committee Chair Fee | $15,000 | Committee chair retainer |
| Compensation Committee Member Fee | $7,500 | Member (non‑chair) |
| Nominating & Corporate Governance Member Fee | $5,000 | Member (non‑chair) |
| Estimated Annual Cash Total | $67,500 | Sum of above per policy; actual pro‑ration if partial-year |
MGX pays quarterly in arrears; fees are prorated for partial years per policy .
Performance Compensation
| Award Type | Grant Date | Quantity | Exercise Price | Vesting | Notes |
|---|---|---|---|---|---|
| Initial Stock Option Grant | Feb 3, 2025 | 42,000 | Closing price on grant date | 33% at 1-year; remaining 67% in 24 equal monthly installments thereafter | Non‑statutory options under 2024 Plan; director service required |
| Annual Stock Option Grant (recurring) | At each Annual Meeting | 21,000 (subject to $300k value cap) | Closing price on grant date | Full vest by next Annual Meeting or 1 year, whichever earlier | Subject to grant‑date fair value cap; full acceleration upon sale of company |
Director equity awards are time‑based and not tied to performance metrics such as revenue, EBITDA, or TSR; MGX’s compensation recovery policy (clawback) applies to incentive-based compensation of executive officers (not directors) in event of a material restatement .
Other Directorships & Interlocks
| Entity | Relationship to MGX | Interlock/Conflict Considerations |
|---|---|---|
| Surrozen, Inc. (Director) | Unrelated public biotech | No MGX related-party transactions disclosed; independence affirmed |
| Cerus Corporation (Director) | Unrelated public biotech | No MGX related-party transactions disclosed; independence affirmed |
| CalciMedica, Inc. (prior Director/Audit Chair) | Unrelated public biotech | Prior role ended Jan 2025; no MGX related‑party transactions |
Expertise & Qualifications
- Designated audit committee financial expert; financially literate under SEC/Nasdaq rules .
- Extensive public-company CFO experience through multiple M&A transactions (Novartis acquisition of Chinook; Nestlé Health Science acquisition of Aimmune), capital markets, controls, investor relations .
- Governance experience across audit, compensation, compliance; MBA (Harvard), economics degree (University of Oslo) .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Eric Bjerkholt, M.B.A. | — | <1% | As of April 14, 2025; options vesting not within 60 days thus excluded |
| Vested vs. unvested | N/A | N/A | Initial 42,000‑share option grant outstanding, unvested as of Apr 14, 2025 (grant 2/3/2025; first vest 2/3/2026) |
| Pledging/Hedging | Prohibited | — | Insider trading policy bans hedging, short sales, derivatives, and pledging by directors |
Governance Assessment
- Positive signals: independence affirmed with no related‑party transactions; audit chair with “financial expert” designation; robust committee engagement and clear charters; anti‑hedging/pledging policy enhances alignment; structured, capped director equity awards with standardized vesting .
- Potential risks/RED FLAGS to monitor: multiple external commitments (Mirum CFO plus two public boards) may create time‑allocation risk; early MGX tenure limits observable board effectiveness; beneficial ownership shows <1% as of April 14, 2025, which may indicate lower immediate “skin‑in‑the‑game” pending vesting of initial grant .
- Compensation structure appears balanced (cash retainer plus long‑term options) with annual and initial grants time‑based; no evidence of discretionary bonuses, option repricing, tax gross‑ups, or related‑party deals in disclosures reviewed .
Overall, Bjerkholt’s audit leadership and deep CFO background are supportive of board effectiveness and investor confidence; ongoing monitoring of workload balance, equity accumulation over time, and committee output (e.g., audit quality, risk oversight) is warranted .