Stéphane Bancel

Chief Executive Officer at Moderna

Since October 2011

Age

51 years

Education

Holds a Master of Engineering from École Centrale Paris, a Master of Science in chemical engineering from the University of Minnesota, and an MBA from Harvard Business School.

Tenure

Joined Moderna, Inc. in October 2011 and has served as the Chief Executive Officer since then, overseeing key strategic initiatives and a commercial restructuring in December 2023.

Also at Moderna

James Mock

Chief Financial Officer

STK

Shannon Thyme Klinger

Chief Legal Officer and Corporate Secretary

Stephen Hoge

President

About

Stéphane Bancel is the Chief Executive Officer of Moderna, Inc., having been at the helm since October 2011. His leadership has been instrumental in setting the company’s strategic direction and executing innovation-driven initiatives.

His academic background, including a Master of Engineering, a Master of Science in chemical engineering, and an MBA, has provided him with a solid foundation in both technical and managerial aspects, enabling effective decision-making and driving corporate growth.

Before joining Moderna, he held significant roles such as the CEO of bioMérieux SA and served in various leadership capacities at Eli Lilly and Company, which underscored his ability to manage and transform large organizations.

In addition to his executive and operational roles, he has engaged in venture partnerships and board memberships, reflecting his broad influence in the biotechnology and pharmaceutical sectors.

$MRNA Performance Under Stéphane Bancel

Past Roles

Organization	Role	Date Range	Details
MIT Sloan School of Management	Senior Lecturer	2000 - 2016	Academic position
Eli Lilly and Company	Managing Director, Belgium	July 2000 - March 2006	Global pharmaceutical company
Eli Lilly and Company	Executive Director, Global Manufacturing Strategy and Supply Chain	July 2000 - March 2006	Global pharmaceutical company
bioMérieux SA	Chief Executive Officer	5 years (dates not specified)	French diagnostics company
bioMérieux (Asia-Pacific)	Asia-Pacific Sales and Marketing Director	N/A	Focused on sales and marketing in the Asia-Pacific region

External Roles

Organization	Role	Date Range	Details
Flagship Pioneering	Venture Partner	N/A	N/A

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,575,000	Annual	5% increase from 2022 base salary; fixed compensation aligned with market adjustments, merit, and cost-of-living

Performance Compensation

Data from FY 2023

Annual Cash Bonus

Metric	Weight/Threshold	Target/Value	Actual Result/Details
Corporate Performance Factor	90%	-	Achieved at 90%
Individual Performance Factor	90%	-	Achieved at 90%
Target Bonus	-	150% of Base Salary ($2,362,500)	-
Actual Bonus Payout	-	-	81% of target bonus resulting in $1,913,625
Payment	-	-	Paid in cash as a short-term incentive with no vesting

Equity Awards

Component	Performance Metric	Vesting Conditions	Grant Details
PSUs	Approval metrics:<br>- Threshold: 50% vesting for single major market approval <br>- Target: 100% vesting for US and EU approvals <br>- Maximum: 200% vesting for approvals in all major markets	Cliff vesting at end of a three-year performance period ending Dec 31, 2025; vesting occurs within ~2.5 months after period end	Grant Date: Feb 28, 2023 <br>Grant Date Fair Value: $3,129,194 <br>Grant Date Stock Price: $138.81
Phase 3/Registrational Studies	Initiation of studies:<br>- Threshold: Initiate 1 study <br>- Target: Initiate 3 studies <br>- Maximum: Initiate 4 or more studies	-	Initiated studies in Melanoma, Flu, RSV, Flu/COVID, and CMV leading to 100% vesting
Non-Vaccine Phase 1/2 Trials	Completion of trials:<br>- Threshold: Complete 1 trial <br>- Target: Complete 2 trials <br>- Maximum: Complete 3 or more trials	-	Completed trials in Melanoma, PA Phase 1/2, MMA Phase 1/2, and GSD1a Phase 1 resulting in 50% vesting

Equity Awards Mix: 75% Stock Options and 25% PSUs