Pierre Jacquet
About Pierre Jacquet
Pierre Jacquet, age 58, has served as an independent non-executive director of Mereo BioPharma since September 2021. He is Managing Director and Vice Chairman of L.E.K. Consulting’s Global Healthcare practice, with prior medical training and fellowship experience, and holds an MBA (Darden, UVA), an MD and a PhD (University of Liège). He was appointed to Mereo’s board effective September 20, 2021 and is standing for re-election in 2025. His background spans corporate strategy, M&A advisory, and clinical research with 40+ publications and presentations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Liège (Belgium) | Surgical Resident (training) | Prior to 2001 | Clinical training foundation |
| Washington Cancer Institute | Fellow; 40+ publications/presentations | Prior to 2001 | Oncology/clinical research expertise |
| Exact Sciences Corporation | Director (previously) | Previously served | Industry network; board experience |
| Osprey Pharmaceuticals | Director (previously) | Previously served | Biopharma board experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| L.E.K. Consulting (Global Healthcare) | Managing Director & Vice Chairman; prior Global Head, Global Leadership Team, Americas mgmt committee | Current | Strategic, operational leadership in healthcare |
| Neurvati Neurosciences | Director | Current | External board; potential network synergies |
| Life Science Cares | Advisory Board | Current | Non-profit engagement; sector insights |
Board Governance
- Committee assignments: Member, Nomination & Corporate Governance Committee; Member, Research & Development Committee. He is not a committee chair; chairs are Michael Wyzga (Nom/Gov) and Anders Ekblom (R&D) .
- Independence: The board affirmatively determined Jacquet is independent under SEC/Nasdaq rules; 9 of 10 directors are independent .
- Attendance and engagement: In 2024, the board held 5 meetings; Audit & Risk 6; Remuneration 5; no meetings for Nom/Gov or R&D. All directors attended ≥75% of board and applicable committee meetings in 2024 . In 2023, board 8; Audit & Risk 5; Remuneration 2; Nom/Gov 2; R&D 3; all directors attended ≥75% .
- Board structure: Non-executive Chairman (Wyzga), CEO separate; emphasizes independent board leadership .
- Executive sessions: Remuneration Committee meets regularly in executive sessions; members only .
Fixed Compensation
Non-executive director fee schedule (cash or elective Deferred RSUs over ADSs):
| Fee Component | Member Annual Fee ($) | Chair Annual Fee ($) |
|---|---|---|
| Board of Directors | 39,644 | 40,397 |
| Audit & Risk Committee | 7,527 | 19,446 |
| Remuneration Committee | 5,520 | 11,542 |
| Nomination & Corporate Governance Committee | 4,391 | 8,782 |
| Research & Development Committee | 5,018 | 10,036 |
Director compensation (Jacquet):
| Year | Fees Earned or Paid in Cash ($) | Stock/Share Awards ($) | Option Awards ($) | Total ($) |
|---|---|---|---|---|
| 2023 | 0 | 55,771 | 46,412 | 102,184 |
| 2024 | 0 | 60,190 | 127,512 | 187,702 |
Notes:
- Non-executives may elect to convert annual cash fees into Deferred RSUs; Deferred RSUs vest monthly over the plan year and pay out 180 days post-separation .
- Compensation is denominated in GBP and shown in USD using year-end FX ($/£) .
Performance Compensation
- Annual equity grants: In Feb 2024, each non-executive director received 45,000 market-value stock options over ADSs at $3.87, vesting in equal monthly installments over one year; no performance conditions attached .
- Vesting schedules and outstanding awards (Jacquet, as of Dec 31, 2024):
- Options: 55,000 @ $1.31 (2/1/2032 expiration) ; 33,393 @ $1.31 (2/1/2032) ; 55,000 @ $0.94 (2/1/2033) ; 37,500 exercisable / 7,500 unexercisable @ $3.87 (2/8/2034), vest monthly, fully vested by 2/8/2025 .
- Deferred RSUs: 2,593 units not vested at 12/31/2024; market value $9,076; vest monthly, fully vested by Jan 2025; payment 180 days post-separation .
Detailed equity position (as of 12/31/2024):
| Award Type | Quantity | Exercise Price ($) | Expiration | Vesting Status |
|---|---|---|---|---|
| Stock Options | 55,000 | 1.31 | 02/01/2032 | Exercisable |
| Stock Options | 33,393 | 1.31 | 02/01/2032 | Exercisable |
| Stock Options | 55,000 | 0.94 | 02/01/2033 | Exercisable |
| Stock Options | 37,500 / 7,500 | 3.87 | 02/08/2034 | Monthly vesting; fully vested by 2/8/2025 |
| Deferred RSUs | 2,593 | N/A | N/A | Monthly vesting; fully vested by Jan 2025 |
Other Directorships & Interlocks
| Company/Organization | Role | Status |
|---|---|---|
| Neurvati Neurosciences | Director | Current |
| Exact Sciences Corporation | Director | Previously served |
| Osprey Pharmaceuticals | Director | Previously served |
| Life Science Cares | Advisory Board | Current |
- Interlocks: Michael Wyzga (MREO Chairman) previously served as a director of Exact Sciences; Jacquet also previously served on Exact Sciences’ board, representing a past network interlock. No current shared directorships with MREO competitors disclosed .
Expertise & Qualifications
- Healthcare strategy and operations: 20+ years at L.E.K., leadership roles including Global Head, Vice Chairman, and governance committees .
- Clinical/medical background: Surgical training and oncology fellowship; 40+ publications/presentations .
- Education: MBA (Darden School), MD and PhD (University of Liège, Belgium) .
Equity Ownership
| As-of Date | Ordinary Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| March 31, 2024 | 773,215 | 0.11% (out of 701,349,434) |
| April 1, 2025 | 1,010,715 | 0.1% (out of 795,001,444) |
Notes:
- Beneficial ownership includes shares and rights to acquire within 60 days (e.g., exercisable options) under SEC rules .
- Group ownership (all directors and officers) was 4.13% in 2024 and 5.5% in 2025 .
Governance Assessment
- Independence and committee engagement: Jacquet is independent and serves on Nom/Gov and R&D, aligning with his strategic and clinical expertise; attendance met ≥75% thresholds in 2023 and 2024, indicating baseline engagement .
- Alignment via equity: He elected equity (Deferred RSUs and options) over cash in 2023–2024; 2024 option grant increased in value with higher strike ($3.87) and one-year monthly vest; no performance conditions, typical for non-executives but reduces pay-for-performance sensitivity at the director level .
- Ownership: Beneficial stake ~0.1%—modest but supplemented by options; no hedging/pledging per company policy, supporting alignment and risk mitigation .
- Contracts: Non-executive service contracts have 3-month termination notice; no severance for early termination—shareholder-friendly .
RED FLAGS / Watch items:
- No performance conditions on director equity awards (common practice, but minimal pay-for-performance linkage) .
- Past interlock with Exact Sciences via Wyzga and Jacquet (historical, not current; network ties should be monitored for information flow and potential bias) .
- No disclosed related-party transactions involving Jacquet in available filings; continue to monitor “Transactions with Related Persons” section annually .
Policy and compliance signals:
- Prohibition on hedging and pledging under Insider Trading Policy; Section 16(a) filings complied in 2024—positive governance hygiene .
- Board leadership separation (non-executive Chair) and majority independence—supportive of effective oversight .