Dominic Marasco

About Dominic Marasco

Dominic Marasco, R.Ph., age 52, serves as President, Endocrine Business Unit at MannKind, appointed in January 2025 . He holds a B.S. from Philadelphia College of Pharmacy and completed Harvard Business School’s Advanced Management Program, with a career spanning commercial leadership across biopharma and services (Amgen, Sandoz/Novartis, Syneos Health, BioAgilytix, Envision Pharma) . Company performance entering his tenure: 2024 total revenue $285.5 million and net income $27.6 million; cumulative TSR (fixed $100 from 2019) reached 498.45 through 2024 . MannKind’s endocrine portfolio (Afrezza and V-Go) and UT collaboration (Tyvaso DPI) are core value drivers referenced in executive compensation framing .

Past Roles

External Roles

Fixed Compensation

• Specific 2025 base salary/bonus for Mr. Marasco is not disclosed in the 2025 proxy or 8-Ks; he is not a named executive officer for 2024 .
• Company policy: STI target opportunity is 80% of base for CEO and 50% for other executive officers; 2024 corporate STI funding achieved 125% of target (paid April 2025) .
• Executive stock ownership guidelines: CEO 4× base salary; Executive Vice Presidents 2×; Senior VPs/Vice Presidents on ELT 1×; all execs subject to five-year compliance windows and sale restrictions if not compliant .

Performance Compensation

• Long-term incentives for executives emphasize PSUs (≈55% of LTI) with three-year relative TSR vs. Russell 3000 Pharma & Biotech, and time-based RSUs (≈45% of LTI) . PSU payout schedule: 0% <25th percentile, 50% at 25th, 100% at 50th, 200% at 75th, 300% at ≥90th (interpolated) with July 2027 cliff vesting for 2024 grant cycle; time-based RSUs vest 25% annually (July 2025–July 2028) .
• 2024 STI corporate scorecard (funding basis for executive bonuses paid in 2025), illustrating pay-for-performance mechanics:

• Clawback (Dodd-Frank compliant) applies to incentive compensation tied to financial reporting measures, including stock price and TSR, for executive officers for awards received on/after Oct 2, 2023 .

Equity Ownership & Alignment

• Beneficial ownership for Mr. Marasco is not separately disclosed in the 2025 proxy’s security ownership table; as of March 20, 2025, all current executive officers and directors as a group beneficially owned 8,337,915 shares (2.7%) .
• Hedging/pledging of company stock is prohibited for directors, officers, employees, and household members (short sales, derivatives, margin purchases, loans, options, pledging, or any speculative transactions) .
• Executive stock ownership guidelines in effect (see Fixed Compensation); the proxy states executive officers are currently in compliance with the guidelines, noting guidelines and enforcement mechanisms .

Employment Terms

• Appointment: President, Endocrine Business Unit since January 2025 .
• Change-of-control framework: MannKind maintains change-of-control agreements providing 18 months of base salary continuation, 150% of average annual bonus, continued benefits (up to 18 months), and full vesting of equity upon qualifying separation post-CoC, subject to release; cause/good reason definitions include material duty diminutions, relocation >50 miles, non-renewal, material violations, etc. .
• Coverage statement: MannKind indicated change-of-control agreements with executive officers in 2024 disclosures; 2025 disclosures detail NEO terms and mechanics (Mr. Marasco is not listed as a 2024 NEO) .
• Severance: A specific individual severance agreement is disclosed only for the General Counsel (Thomson); other executives rely on change-of-control agreements for qualifying events .

Performance & Track Record

• Senior commercial operator with U.S. sales leadership (Amgen Neuroscience) and global commercialization (Amgen Biosimilars) background; built BD/commercial capabilities at Syneos; scaled commercial operations and technology/AI at Envision; ran global CCO roles at BioAgilytix .
• Business unit relevance: Endocrine portfolio (Afrezza and V-Go) is a core corporate objective within STI metrics; Tyvaso DPI manufacturing/royalty collaboration provides substantial revenues at the enterprise level .
• Company financial baseline at transition: 2024 revenue $285.5 million; net income $27.6 million; cumulative TSR to 2024 at 498.45 .

Compensation Committee Analysis (Context)

• Peer group (12 companies) used for benchmarking in 2024: ADMA, IRWD, ANIK, KPTI, BCRX, MGNX, DCPH, MIRM, DVAX, RIGL, INSM, VNDA .
• Governance practices: Independent compensation committee; use of Mercer LLC; annual say-on-pay (support ~90% in 2023–2024); prohibition on speculative trading; pay-versus-performance disclosure .

Investment Implications

• Alignment: Prohibition on hedging/pledging reduces misalignment and forced selling risk; executive ownership guidelines and multi-year PSUs tied to relative TSR strengthen long-term incentives .
• Retention: PSU cliff vesting in July 2027 across the executive cohort creates retention hooks; time-based RSUs vest annually (2025–2028), reinforcing continuity heading into Mr. Marasco’s leadership of the Endocrine BU .
• Trading signals: Company policy restricts speculative transactions; watch corporate windows around annual RSU vest dates and PSU outcomes for potential Form 4 activity among executives; Marasco-specific grants/ownership were not disclosed, limiting precision on his personal selling pressure .
• Execution risk: Endocrine BU objectives are central to STI funding and corporate outcomes; Mr. Marasco’s prior commercialization experience is directly relevant to Afrezza/V-Go growth drivers embedded in the STI scorecard .
• Pay-for-performance: Relative TSR-centric PSUs and clear STI metrics indicate high at-risk pay; investors should monitor TSR rank versus Russell 3000 Pharma & Biotech to anticipate PSU payout sensitivity (0–300%) .