John Northcott

About John Northcott

John Northcott is Chief Commercial Officer of Nurix Therapeutics (NRIX), appointed in January 2025 to build commercialization capabilities ahead of pivotal trials for bexobrutideg (NX‑5948) in CLL and autoimmune indications; he brings 20+ years of commercial leadership and led the successful commercialization of the first marketed BTK inhibitor, ibrutinib . His tenure at Nurix began January 2025; prior role was CCO at Arvinas (2022–2024) . Company performance context: recent quarterly revenue was $13.3M in Q4 2024, $18.5M in Q1 2025, $44.1M in Q2 2025, and $7.9M in Q3 2025; EBITDA remained negative, reflecting pre‑commercial investment intensity *. Say‑on‑pay support improved to ~88.3% in 2024 vs ~61% in 2023, indicating stronger investor alignment with compensation practices .

Past Roles

External Roles

No public company board or external committee roles were disclosed for Northcott in available filings and releases.

Fixed Compensation

Compensation specifics for Northcott (base salary, target bonus, annual grants) were not disclosed in the 2025 DEF 14A (which covers FY 2024 NEOs) or in accessible 8‑K appointment filings. The January 22/28, 2025 press/8‑K announcements confirm the appointment but do not detail compensation terms .

Performance Compensation

Not disclosed for Northcott. Nurix’s compensation framework emphasizes variable pay with annual cash incentives and long‑term equity for NEOs, guided by peer benchmarking and performance outcomes .

Equity Ownership & Alignment

• Hedging and pledging: Company policy prohibits hedging and pledging of Nurix securities without specific pre‑approval; derivative transactions are barred, enhancing alignment and reducing risk of misaligned hedging/pledging .
• Clawback: Compensation Recovery Policy adopted July 2023, enabling recovery of incentive‑based compensation upon restatement due to material noncompliance with financial reporting, administered by the Compensation Committee .
• Beneficial ownership and Form 4 activity: No Form 4 retrievals for “John Northcott” were available via tools; monitoring future 10b5‑1 plan adoptions and vest‑related sales will be key for assessing selling pressure [ListDocuments returned none for type 4; insider-trades tool unavailable (401)].

Employment Terms

Nurix maintains an Executive Severance & Change‑in‑Control Plan that applies to NEOs and certain officers:

• Outside change‑in‑control: For NEOs other than CEO, cash severance equals 0.75x annual base salary plus any earned but unpaid prior‑year bonus; healthcare coverage continues up to 9 months .
• Within 12 months post‑change‑in‑control (double‑trigger): For NEOs other than CEO, lump‑sum cash equals 1x annual base salary, any earned unpaid prior‑year bonus, and target bonus for the year of termination; healthcare continues up to 12 months. Service‑based equity accelerates in full; performance‑based awards treated per governing agreements. If awards are not assumed by a successor, vesting accelerates in full .
• Governance: No single‑trigger CIC provisions; no excise tax gross‑ups per governance practices .
  Note: Northcott’s individual participation and offer‑letter specifics were not disclosed; as a 2025 executive officer, he would generally be expected to be covered under the Executive Severance Plan, subject to a participation agreement .

Performance & Track Record (Company context relevant to CCO role)

Recent quarterly performance:

Recent annual performance:

Say‑on‑pay and peer benchmarking:

• Say‑on‑pay: ~61% approval in 2023 (for FY 2022 pay) vs ~88.3% approval in 2024 (for FY 2023 pay), reflecting improved shareholder support and reduced compensation governance risk .
• Peer group: 23 biopharma peers used for 2024 compensation decisions (Arcus, Arvinas, C4, IDEAYA, iTeos, Kymera, Relay, Revolution, Tango, Zentalis, etc.) .

Compensation Structure Analysis

• Alignment signals: Hedging/pledging restrictions and a clawback policy align incentives to long‑term performance and mitigate governance risks .
• Severance economics: Double‑trigger CIC and moderate cash multiples (1x salary + target bonus for NEOs other than CEO) limit windfall risk while retaining talent through transaction uncertainty .
• Pay mix: Company emphasizes at‑risk variable pay and multi‑year equity vesting for NEOs, supportive of pre‑commercial profiles where milestones and launches drive value .
• Shareholder feedback: Improved say‑on‑pay in 2024 suggests investor acceptance of program design post‑2022 retention grants .

Risk Indicators & Red Flags

• Hedging/pledging: Prohibited without pre‑approval—reduced alignment risk .
• Excise tax gross‑ups: Not utilized—shareholder‑friendly governance .
• Option repricing: No disclosure of repricing/modification of underwater options for executives in covered periods .
• Insider selling: No Form 4 details retrieved for Northcott; monitor for future 10b5‑1 plans or clustered sales around vesting dates to gauge selling pressure [ListDocuments found no type 4; insider-trades tool unavailable (401)].

Investment Implications

• Execution leverage: Northcott’s BTK commercialization pedigree (ibrutinib) is well‑matched to Nurix’s lead BTK degrader bexobrutideg, potentially reducing commercialization execution risk as pivotal programs advance .
• Governance and pay alignment: Stronger say‑on‑pay support (88.3%), clawback adoption, and hedging/pledging prohibitions reduce compensation governance overhang; severance terms are moderate and double‑trigger, limiting downside in strategic events .
• Near‑term signals to watch: Appointment‑related 8‑K with comp terms (if filed), Form 4 activity indicating selling/buying pressure, and any retention or inducement equity grants with 4‑year vesting cadence as the commercial org scales .
• Company fundamentals backdrop: Pre‑commercial losses and variable quarterly revenue tied to collaboration milestones heighten need for disciplined launch planning; Northcott’s experience may be a positive catalyst if pivotal data and regulatory pathways proceed on disclosed timelines .