Christine Ring
About Christine Ring
Christine Ring, Ph.D., J.D., age 60, is Nurix Therapeutics’ Chief Legal Officer, Chief Compliance Officer, and Secretary; she has served as CLO/CCO since October 2023, was General Counsel from September 2019 to October 2023, and has been Secretary since March 2020 . Her credentials include an A.B. in Biophysics (UC Berkeley), a Ph.D. in Pharmaceutical Chemistry (UCSF), and a J.D. (UC Hastings) . During her tenure, corporate performance metrics disclosed include pay-versus-performance TSR of 21.58 for FY2023 and 42.99 for FY2022, with net income of $(143.9)M and $(180.4)M respectively, situating compensation decisions against pre-commercial biotech execution milestones rather than near-term profitability .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Nurix Therapeutics, Inc. | Chief Legal Officer & Chief Compliance Officer | Oct 2023–present | Legal and compliance leadership aligned with Code of Conduct and governance policies |
| Nurix Therapeutics, Inc. | General Counsel | Sep 2019–Oct 2023 | Led legal function during clinical and collaboration expansion |
| Nurix Therapeutics, Inc. | Secretary | Mar 2020–present | Corporate secretary responsibilities |
| Dermira, Inc. | Senior Vice President, Legal | Feb 2018–Apr 2019 | Legal leadership in medical dermatology |
| Dermira, Inc. | Vice President, Legal | Jun 2014–Feb 2018 | Built legal frameworks supporting pipeline/commercial objectives |
| Amyris, Inc. | Senior Vice President, Technology, Strategy & Licensing | Not disclosed | Strategy & licensing for renewable/specialty chemicals |
External Roles
| Organization | Role | Years |
|---|---|---|
| BIOMILQ, Inc. | Director (since Feb 2022); Board Chair (since Mar 2023) | 2022–present |
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Target Bonus ($) |
|---|---|---|---|
| 2024 | 500,000 | 40% | 200,000 |
Performance Compensation
| Incentive Type | Metric(s) | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Annual cash bonus (2024) | Corporate objectives; Individual performance (non-CEO) | 70% corporate / 30% individual | 40% of salary ($200,000) | Corporate 115%; Individual 115% | $230,000 | Cash (paid after year-end) |
| Stock options (2024 grant) | Time-based vesting (no perf. metric) | N/A | 150,000 options; exercise price $8.72; grant date 2/13/2024 | Granted | Grant-date FV $890,947 | 1/36 monthly over 36 months; expires 2/12/2034 |
| RSUs (2024 grant) | Time-based vesting (no perf. metric) | N/A | 45,000 RSUs; grant date 2/13/2024 | Granted | Grant-date FV $392,400 | Quarterly over 3 years, first vest 7/30/2024 |
2024 corporate goals were unweighted and encompassed clinical, research, and business milestones; achievement was assessed at 115% of target following attainment of key stretch goals .
Equity Ownership & Alignment
| Beneficial Ownership (as of 3/21/2025) | Shares | % of Outstanding |
|---|---|---|
| Total beneficial ownership | 464,477 | <1% |
| Direct common stock | 32,538 | <1% |
| RSUs vesting within 60 days | 7,674 | <1% |
| Options exercisable within 60 days | 424,265 | <1% |
| 2024 Outstanding Grants Snapshot | Quantity | Status | Exercise Price | Expiration | Vesting Details | Market Value (RSUs) |
|---|---|---|---|---|---|---|
| Options (2/13/2024) | 150,000 | 37,500 exercisable / 112,500 unexercisable | $8.72 | 2/12/2034 | 1/36 monthly from 2/13/2024 | — |
| RSUs (2/13/2024) | 45,000 | 37,500 unvested at 11/29/2024 | — | — | Quarterly; first vest 7/30/2024 | $829,125 at $22.11 close on 11/29/2024 |
| 2024 Liquidity Events | Shares | Value Realized ($) |
|---|---|---|
| Options exercised | 54,300 | 1,027,469 |
| RSUs vested | 23,196 | 438,233 |
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Alignment and trading policies: Nurix prohibits hedging and, subject to limited exceptions requiring Chief Legal Officer pre-approval, pledging of company securities; covered persons are barred from derivative transactions on company stock . The company maintains a clawback policy compliant with SEC/Nasdaq rules (adopted July 2023) .
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In-the-money status context: As of 11/29/2024 closing price $22.11, 2024 options at $8.72 and prior grants at $10.83, $18.50, and $19.49 were in/near the money; grants at $38.97 remained out-of-the-money .
Employment Terms
| Provision | Terms |
|---|---|
| Employment status | At-will; governed by offer letter and participation in Executive Severance & Change in Control Plan . |
| Severance (outside change-in-control) | 0.75x annual base salary + any earned prior-year bonus; up to 9 months health coverage for non-CEO NEOs . |
| Change-in-control (double trigger within 12 months) | 1x annual base salary + earned prior-year bonus + target bonus; up to 12 months health coverage; full acceleration of time-based equity; performance awards per applicable plan . |
| Equity if not assumed in change-in-control | Full vesting acceleration without regard to termination of service . |
| Tax treatment | 280G “best-net” cutback; no excise tax gross-ups . |
| Governance controls | Clawback policy in place; independent Compensation Committee with Aon as consultant and no conflicts identified . |
| Insider trading policy | Prohibits hedging/pledging and derivative transactions on company stock; pre-approval required for any pledging exceptions . |
Investment Implications
- Pay-for-performance alignment: Cash bonuses tied to corporate and individual objectives paid at 115% of target for 2024, reflecting milestone execution in clinical and research programs; equity is predominantly time-based (options/RSUs), balancing retention with shareholder alignment .
- Vesting and potential selling pressure: Quarterly RSU vest cycles (first vest 7/30/2024) and monthly option vesting create predictable liquidity windows; 2024 saw option exercises and RSU vesting totaling $1.47M in realized/vested value, which can imply periodic supply into the market depending on settlement method .
- Retention and change-in-control economics: Non-CEO severance is moderate outside CoC (0.75x salary), while CoC double-trigger provides 1x salary plus bonuses and full acceleration of time-based equity—adequate retention without shareholder-unfriendly gross-ups given the 280G best-net cutback .
- Governance risk mitigants: Prohibitions on hedging/pledging and an SEC/Nasdaq-compliant clawback reduce misalignment risk; say-on-pay support in 2024 was 88.3%, indicating shareholder acceptance of the program structure .