Jeffrey Nelson
About Jeffrey Nelson
Jeffrey Nelson is Chief Operating Officer at Milestone Pharmaceuticals (MIST). He has served as COO since June 2020 and previously was Vice President, Project Management from August 2018 to June 2020; he holds a BA in Economics from Brandeis University . Age: 44 as of April 30, 2025; tenure in current role since June 2020 . Company-level performance context: Milestone’s pay-versus-performance disclosure shows cumulative TSR value of $141.32 in 2023 and $42.17 in 2024, with net losses of $59,685 and $41,519, respectively .
Company performance metrics (oldest → newest):
| Metric | 2023 | 2024 |
|---|---|---|
| Cumulative TSR (Value of $100) | $141.32 | $42.17 |
| Net Income (Loss) | $(59,685) | $(41,519) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Milestone Pharmaceuticals | VP, Project Management | Aug 2018 – Jun 2020 | Led program management ahead of pivotal clinical and launch preparations |
| Milestone Pharmaceuticals | COO | Jun 2020 – Present | Oversees operations; capacity planning and manufacturing scale-up for CARDAMYST supply |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mateon Therapeutics (now Oncotelic Therapeutics) | VP, Program Management | Sep 2015 – Nov 2017 | Oncology program execution and portfolio delivery |
Fixed Compensation
Not disclosed for Jeffrey Nelson (he is not a Named Executive Officer in proxy filings). Company-level practices: base salary and target bonus are reviewed annually by the Compensation Committee; 2024 NEO base salaries were held flat given cash conservation . The Compensation Committee engages independent consultants (Aon/Radford) for benchmarking and peer analysis .
Performance Compensation
Not disclosed for Jeffrey Nelson specifically. Company-level design in 2024 emphasized at-risk equity for executives (NEOs received 100% performance-based awards):
- Performance stock units (PSUs) vest on the “Approval Date” (FDA New Drug Application Approval Letter for CARDAMYST—etripamil) by December 31, 2025 or expire; NEO PSU target counts: CEO 280,000; CFO 100,000; CMO 100,000 .
- Performance options vest 50% at 6 months post-Approval Date and 50% at one year post-Approval Date; expire if Approval Date does not occur by December 31, 2025; NEO counts: CEO 280,000; CFO 100,000; CMO 100,000 .
Representative vesting structure (company program for NEOs):
| Metric/Instrument | Weighting | Target | Actual/Payout | Vesting |
|---|---|---|---|---|
| PSUs (Approval-based) | 100% of PSU grant | FDA Approval (Approval Date) by 12/31/2025 | Not yet vested as of 4/15/2025 | Cliff vest on Approval Date; expire if not approved by 12/31/2025 |
| Performance Options | 100% of option grant | FDA Approval | 50% at 6 months post-Approval; 50% at 12 months | Expire if no approval by 12/31/2025 |
Equity Ownership & Alignment
- Initial SEC Form 3 (Aug 2022): “No securities are beneficially owned” for Jeffrey Nelson at the time of filing .
- Beneficial ownership tables list NEOs and directors; non-NEO officer individual holdings (including Nelson) are not disclosed—only the aggregate of all executive officers and directors as a group appears (not attributable to Nelson specifically) .
- Stock ownership alignment safeguards:
- Hedging, margin, and pledging of company securities are prohibited for insiders (including executives) .
- 10b5-1 trading plans permitted under insider trading policy; adoption/modification requires approval and absence of MNPI .
- Board Mandate includes establishing minimum shareholding requirements for senior management (framework-level; specifics not disclosed) .
- Clawback policy (adopted Nov 2023) requires recoupment of incentive compensation linked to financial reporting measures upon restatement, applicable to current and former executive officers .
Ownership/pledging snapshot:
| Item | Status |
|---|---|
| Nelson Form 3 initial holdings | None reported (08/09/2022 event; filed 08/17/2022) |
| Pledging/Margin | Prohibited for insiders |
| 10b5-1 plans | Allowed under policy with pre-approval and no MNPI |
| Executive ownership guidelines | Board mandate references minimum shareholding requirements for senior management (details not disclosed) |
| Clawbacks | In place per Rule 10D-1 and Nasdaq 5608 |
Employment Terms
- Role start: COO since June 2020; previously VP, Project Management (Aug 2018–Jun 2020) .
- Contract terms, severance, change-of-control economics, non-compete/solicit, and garden leave: Not disclosed for Jeffrey Nelson. Proxy disclosures provide detailed severance/change-of-control terms only for NEOs (CEO/CFO/CMO), including salary continuation, health benefits, bonus multiples, and option acceleration upon change-in-control—no individual COO contract terms are provided .
Performance & Track Record
- Operations/supply execution: Nelson guided manufacturing capacity planning to support CARDAMYST supply—indicated vendor capacity sufficient into 2027 and contemplated scale up of choke points; estimated COGS “about 10% of the net” pricing .
- Clinical development context: Company reported successful Phase 3 PSVT results and ongoing AFib-RVR development; broad program supports launch readiness (company-level) .
Selected operational comments:
| Topic | Disclosure |
|---|---|
| COGS expectation | ~10% of net pricing, per Nelson in Feb 2025 |
| Supply capacity | Vendors with sufficient capacity into 2027; scale-up investments later 2025/2026 as needed |
| Phase 3 PSVT | Statistically significant efficacy and favorable safety profile (company-level) |
Board Governance & Committees (Company-level context)
- Independent Board Chair; majority independent directors; regular executive sessions; robust governance practices .
- Compensation Committee uses independent consultants and maintains a clawback policy; benchmarking performed by Aon/Radford .
- Policy prohibitions on pledging/hedging and structured insider trading controls .
Investment Implications
- Alignment: Company’s 2024 pivot to performance-based equity tied to FDA approval indicates strong pay-for-performance culture at the executive level; while Nelson’s individual grants aren’t disclosed, insiders operate under strict anti-pledging and compliant 10b5-1 frameworks, reducing misalignment risks .
- Retention risk: Lack of disclosed severance/change-in-control protections for the COO limits visibility; NEO-level protections suggest retention emphasis across leadership, but individual COO terms remain unknown .
- Trading signals: Monitor for any Form 4 activity and potential adoption of 10b5-1 plans around approval/commercial milestones, noting the clawback regime and prohibited pledging reduce adverse signals .
- Execution confidence: Nelson’s supply chain planning and target COGS (~10%) underscore operational readiness; execution on scale-up and demand trajectory will influence gross margins and cash burn during commercialization .