Daljit (Bill) Aurora
About Daljit (Bill) Aurora
Daljit (Bill) Singh Aurora, Pharm.D., is Chief Operating and Development Officer at Neumora Therapeutics (NMRA). He joined Neumora in August 2021, held Chief Strategy Officer and other senior development roles, and was promoted to his current role in February 2025; age 58 as of April 10, 2025, with a Pharm.D. from UT Health San Antonio, a B.S. in Pharmacy from UT Austin, and board certification in psychiatric pharmacy practice . 2024 annual bonus outcomes were based 90% achievement of corporate goals, with Aurora’s bonus structure weighted 75% corporate and 25% individual performance . The company’s 2025 proxy highlights a material stock decline after the KOASTAL-1 study failed its primary endpoint, underpinning an option repricing proposal to support retention, a relevant backdrop for incentive alignment and execution risk .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Neumora Therapeutics | Chief Operating & Development Officer | Feb 2025–present | Promoted amid leadership transition and pipeline inflection points; responsibility for development operations . |
| Neumora Therapeutics | Chief Strategy Officer; previously Chief Development Officer and Chief External Affairs Officer | 2021–Feb 2025 | Led strategic and external affairs; prior development leadership since joining in Aug 2021 . |
| Dermira, Inc. | Chief Scientific Affairs Officer | 2016–2021 | Senior scientific leadership; Dermira acquired by Eli Lilly in 2020 . |
| Neurocrine Biosciences | Vice President, Medical Affairs | 2015–2016 | Led medical affairs . |
| Merck Research Laboratories | Vice President, Global Scientific Affairs | 2014–2015 | Global scientific affairs leadership . |
| Amgen | Various roles in medical/scientific affairs | 2002–2014 | Long tenure in scientific leadership at large-cap biopharma . |
Fixed Compensation
| Metric | 2023 | 2024 | 2025 (Terms) |
|---|---|---|---|
| Base Salary ($) | 473,130 | 496,787 | 545,000 |
| Target Bonus (% of Base) | 40% (per 2022 agreement terms) | 40% | 50% |
| All Other Compensation ($) | 11,912 | 10,885 (401k match + electronics allowance) | — |
Notes:
- 2025 transition agreement adds a one-time sign-on bonus of $860,000, subject to repayment if terminated for cause or resignation without good reason within 18 months of the effective date .
Performance Compensation
Annual Cash Bonus Outcomes
| Item | 2023 | 2024 |
|---|---|---|
| Weighting | 75% corporate / 25% individual (structure for non-CEO NEOs) | 75% corporate / 25% individual |
| Corporate Goal Achievement | — | 90% (Comp Committee increased from 85% based on additional performance factors) |
| Actual Bonus Paid ($) | 241,296 | 188,779 |
Notes:
- Specific goal metrics are not itemized in the proxy; payouts reflect the disclosed achievement levels and weighting .
Long-Term Incentives (Equity)
| Award Type | Grant Date | Shares/Units (#) | Exercise Price ($) | Vesting | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|
| Stock Options | Feb 14, 2024 | 195,000 | 18.07 | 25% on 1st anniversary; 1/48 monthly thereafter | 2,743,650 (annual option awards) |
| RSUs | Feb 14, 2024 | 97,500 | — | 25% annually over 4 years | 1,761,825 (annual stock awards) |
| Stock Options | Feb 13, 2025 | 1,000,000 | — (not disclosed) | 25% on Feb 13, 2026; 1/48 monthly thereafter | — |
Option repricing proposal (subject to stockholder approval): Aurora holds 1,819,497 eligible options slated to be repriced to the closing price on May 28, 2025, with an anti-early-exercise/termination condition that restores the original exercise price if exercised or terminated prior to Aug 13, 2026; weighted average exercise price $4.87 (as of Apr 1, 2025) .
Outstanding Equity (as of Dec 31, 2024)
| Award | Shares/Units (#) | Exercise Price ($) | Vesting/Status |
|---|---|---|---|
| Options (exercisable) | 178,428 | 4.2370 | Early exercisable terms; unvested shares subject to repurchase upon termination . |
| Options (exercisable) | 38,233 | 6.3555 | Standard 25% cliff then monthly . |
| Options (exercisable) | 157,716 | 6.5124 | Standard schedule . |
| Options (unexercisable) | 63,725 | 6.3555 | Standard schedule . |
| Options (unexercisable) | 186,395 | 6.5124 | Standard schedule . |
| Options (unexercisable) | 195,000 | 18.0700 | Grant 2/14/2024; standard schedule . |
| RSUs (unvested) | 97,500 | — | 25% annually . |
| Early Exercised Shares (subject to forfeiture) | 33,456 | — | Continue vesting; subject to forfeiture if service ends . |
Equity Ownership & Alignment
| Item | Value |
|---|---|
| Shares owned outright | 130,513 |
| Options exercisable within 60 days | 481,511 |
| Total beneficial ownership (shares) | 612,024 |
| Ownership as % of shares outstanding | <1% (asterisk in proxy) |
| Hedging & pledging | Prohibited for officers under Insider Trading Policy (no short sales, options, hedging, margin or pledging) |
| Stock ownership guidelines | Not disclosed for executives in proxy; N/A — |
Alignment observations:
- Significant unvested equity and a 25% cliff on the 1,000,000 option in Feb 2026 create future unlocks; the repricing structure ties incentive value to market price post-May 2025 while discouraging early exercise before Aug 13, 2026 .
Employment Terms
| Provision | Pre-2025 Agreement (Chief Strategy Officer) | Feb 2025 Agreement (Chief Operating & Development Officer) |
|---|---|---|
| Base salary | As set by role; 2023 salary $473,130; 2024 $496,787 | $545,000 |
| Target bonus | 40% of base | 50% of base |
| Sign-on/Retention | — | $860,000 sign-on, repayable if terminated for cause or resigns without good reason within 18 months; also noted generally subject to clawback if termination occurs before Aug 13, 2026 |
| New option grant | — | Option to purchase 1,000,000 shares; 25% vests on Feb 13, 2026; 1/48 monthly thereafter |
| Severance (non‑CIC) | 9 months base; target bonus for year of termination; up to 9 months healthcare/COBRA | 9 months base; up to 9 months healthcare/COBRA |
| Severance (CIC window) | Base + target bonus lump sum; up to 12 months healthcare/COBRA; full vesting acceleration (3 months before to 12 months after CIC) | Base + target bonus; up to 12 months healthcare/COBRA; full vesting acceleration (3 months before to 18 months after CIC) |
| Clawback | Company-wide clawback policy for erroneously awarded incentive-based compensation upon financial restatement; applies to current/former executive officers . | |
| Hedging/pledging | Prohibited for covered individuals including NEOs . |
Notes:
- Agreements require a general release of claims to receive severance .
- Company was an emerging growth company through Dec 31, 2024; therefore say‑on‑pay votes were not required and scaled executive compensation disclosures applied .
Investment Implications
- Pay-for-performance alignment: Aurora’s annual bonus structure weighted 75% corporate/25% individual with a 90% corporate achievement outcome in 2024 suggests measurable linkage to company milestones; long-term equity is time-based, with a large Feb 2026 cliff vest that aligns retention but could create unlock-related trading dynamics .
- Retention risk and incentives: The 2025 sign-on bonus ($860K) and 1,000,000-share option plus the option repricing (with anti-early-exercise provisions until Aug 13, 2026) indicate Board emphasis on retention and re-motivating underwater options following the KOASTAL-1 miss and stock decline; governance optics of repricing warrant monitoring but reduce incremental equity overhang versus new grants .
- Alignment safeguards: Prohibitions on hedging/pledging and a formal clawback policy mitigate misalignment and reputational risk; change-of-control economics use double-trigger vesting, reducing single-trigger windfall risk .
- Ownership: Beneficial ownership is <1% of outstanding shares; near-term selling pressure appears limited, but larger unlocks in 2026 merit calendar tracking for potential liquidity events .